Everything you need to know about real estate insurance
RENT LOSS INSURANCE: WHAT IS LOSS IN RENTS? WHY DO I NEED LOSS OF RENTS COVERAGE? DOES RENT LOSS INSURANCE COVER ME IF I CANNOT RENT OUT AN APARTMENT OR IF A TENANT DOESN'T PAY THEIR RENT?
Loss of rents coverage is only for the event that a space that was rented is now not rent-able due to being damaged by a covered insurance loss/claim. For example fire of flooding. The carrier will reimburse you during the period of repair till it is again in rent-able condition.
Answered by: Joel Kivelevitz – Account executive of large business