Square One Insurance Services
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What is Loss of Use Coverage and How Does It Work?
Learn about loss of use coverage in home insurance, also known as additional living expenses.
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ABOUT SQUARE ONE
Square One is an insurance agency that offers online home and car insurance. By eliminating all unnecessary complexities built into traditional policies, and offering customers a way to get a quote and buy online, Square One makes it easy and convenient for people to personalize their insurance to meet their exact needs. Square One offers home insurance in BC, Alberta, Saskatchewan, Manitoba, Ontario, and Quebec. Car insurance is offered in Ontario.
GET AN ONLINE HOME OR CAR INSURANCE QUOTE
Get a free home insurance quote from $12/month or a car insurance quote from $120/month and buy online in less than 5 minutes ► www.squareone.ca
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Loss of use coverage, also known as additional living expenses (ALE), is a standard part of home insurance policies in Canada. And yet, most people don’t really think about it when they think of home insurance.
Loss of use reimburses the policyholder for extra costs they incur while they can’t use their insured property after a loss. In home insurance, that means the costs you’ll need to pay if your home gets damaged by an insured loss, like a fire. If you have to move out during repairs, your living costs will go up - loss of use coverage will help you out with those extra costs.
But it’s not just when your home is physically damaged. If you’re ordered to evacuate due to an event that your policy would cover, like a wildfire, you can use your loss of use coverage to cover the extra expenses even if your home remains undamaged.
Loss of use in home insurance covers things like hotel rooms, restaurant meals, taxis, or any other expenses you need while you’re forced to be out of your home. But, it only covers extra expenses, meaning those over and above your typical living costs. So if you normally spend $500 per month on food, but $1,000 per month while you’re away from home, loss of use would only cover the additional $500. It will also only cover costs up to the coverage limit, which varies from policy to policy.
If you need to make a loss of use claim, make sure to speak with your insurance provider. They’ll explain what you’ll need to do to make the process as painless as possible.
LEARN MORE
View the complete article ► www.squareone.ca/resource-centres/insurance-basics/additional-living-expenses
----------------------------------------------------
00:00 Intro
00:21 What is loss of use coverage?
01:10 What are Additional Living Expenses?
02:22 ALE coverage limitations
03:29 What does ALE cover?
04:41 What does ALE not cover?
05:51 How do you claim ALE?
#LossOfUse #LossOfUseClaim #LossOfUseInsurance #HomeInsurance #AdditionalLivingExpenses #LossOfUseExplained
Переглядів: 82

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КОМЕНТАРІ

  • @GoodInsurance-USA
    @GoodInsurance-USA 4 дні тому

    Thank you for the video!

  • @deborahd.7281
    @deborahd.7281 5 днів тому

    1.5 K views 1 comment 18 likes.

  • @williamflett4920
    @williamflett4920 8 днів тому

    Anybody else see this as an ad and just watched the whole thing?

  • @llarose
    @llarose 13 днів тому

    Videos for rich people.

  • @Steven-rm2kb
    @Steven-rm2kb 16 днів тому

    Good luck with that Very few of them do the necessary repairs😢

  • @user-ln9er2ec5l
    @user-ln9er2ec5l 20 днів тому

    This came up on a UTube ad. Sorry but I think it's disgusting. The kids were speeding at 187km/hr going over double yellow lines, could've killed how many OTHER PEOPLE? drunk driver at the wheel.. and the parents of Caleb Reimer accept $300K reno? I could understand if it was done in HIS name, for paraplegics/handicapped teenagers from accidents through NO FAULT OF THEIR OWN. Your son was old enough to know better than get in a drunk friend's car speeding to extent of risking death to himself or killing/murdering other people. Shocking & shameless.

  • @ericpanissidi6761
    @ericpanissidi6761 Місяць тому

    Human greed and overpopulation.ugg im geting sick thinking about the last 10 years in southern California.craigslist scams, credit checks, etc.

  • @harruzdimatingkal4231
    @harruzdimatingkal4231 Місяць тому

    I hope my rommate is pretty and girl and have a kindness

  • @1yellowp
    @1yellowp Місяць тому

    Your commercials are garbage, especially the one with the guy on the toilet

  • @1yellowp
    @1yellowp Місяць тому

    Toilet guy commercials incredibly stupid

  • @1yellowp
    @1yellowp Місяць тому

    I hate your stupid commercials

  • @1yellowp
    @1yellowp Місяць тому

    I hate your stupid commercials

  • @1yellowp
    @1yellowp Місяць тому

    I hate your stupid commercials

  • @KenAlgerRealEstate
    @KenAlgerRealEstate Місяць тому

    Licensed REALTOR here. Used this video in a blog post. Thanks for putting such a good video out.

  • @surafelyemane9580
    @surafelyemane9580 Місяць тому

    What about if i sign a lease and find roommates to split the rent do i need to report it as income to irs?

    • @SquareOneInsuranceServices
      @SquareOneInsuranceServices Місяць тому

      Thanks for your question! We're based in Canada, so we can't comment specifically on tax matters in the US. The answer would depend on the arrangement you have with your landlord and roommates, such as whether you're subletting or simply sharing expenses. It would be best to consult a tax expert in your jurisdiction to find out exactly what you need to report on your taxes.

  • @karengray6911
    @karengray6911 2 місяці тому

    Great explanation. Good to know what to do and not do when the valve is in operation. Thanks.

  • @CosmicAcrobat
    @CosmicAcrobat 2 місяці тому

    Ladies n gents, this is what we call affiliate marketing scams.

  • @Rmmotivation843
    @Rmmotivation843 3 місяці тому

    Wow yes good mind for you

  • @MontysHall
    @MontysHall 4 місяці тому

    Good video, sorry sad so many people ignore this!

  • @salarakbari9491
    @salarakbari9491 4 місяці тому

    So happy to have been apart of this wonderful project!

  • @squareone2011
    @squareone2011 4 місяці тому

    Amazing work!

  • @1yellowp
    @1yellowp 5 місяців тому

    Your commercials are very annoying, especially the one that tells my Google system to call your stupid company.

  • @1yellowp
    @1yellowp 5 місяців тому

    I hate your commercial that says hey Google. It gets my system to call your stupid company so stop it

  • @genmdse
    @genmdse 6 місяців тому

    roomster is the largest scam site on the web

  • @morespinach9832
    @morespinach9832 6 місяців тому

    All very cute. Why's the premium nearly twice of bigger brands though?

  • @angelaleigh5578
    @angelaleigh5578 6 місяців тому

    What a wonderful way to give back to the community <3

  • @warrenford6503
    @warrenford6503 6 місяців тому

    P r o m o s m

  • @bangtanbell1306
    @bangtanbell1306 6 місяців тому

    The lady who lives downstairs is mentally ill so she shouts all day long i live on rent in her home her shouting is affecting my peace n mental health but I can't makea complaint or else she will kick me out of house , i can't afford to shift rn because my house is being built near this neighborhood n i need to keep a look at the construction, whst should i do m just disturb to the limit!!!

  • @tjgnkc
    @tjgnkc 7 місяців тому

    Ok, pronunciation is off- It’s ‘for-my-ca’ not ‘for-mica’ and its ‘por-us’ not ‘poor-e-us’. My insurance did not cover me either stating they dont cover main line breaks, and it wasn’t a main line break!! Cause it was raw sewage, they said main line, but you can have a backup with raw sewage that is not main line, just your toilet pipes line getting clogged. My insurance guy is new and even said he wasn’t sure what to do, idiot.

  • @DivalerioKitchens
    @DivalerioKitchens 7 місяців тому

    Thank you. I was hoping you would address what size filler to get for a specific size cover.

    • @SquareOneInsuranceServices
      @SquareOneInsuranceServices 7 місяців тому

      Many experts recommend getting an insert that's a couple of inches larger than the cover, especially for large pillows. This page has a useful sizing chart: www.chloeandolive.com/blogs/decorating/pillow-insert-size-guide Cheers, Seamus McKale, Content Marketing Specialist

  • @br8844
    @br8844 8 місяців тому

    Great advice!

  • @Grace2shar
    @Grace2shar 10 місяців тому

    Well, Kudos to Square One for deciding to produce this video for its customers and the general public!

  • @Tm12589
    @Tm12589 11 місяців тому

    Nice 😊😹

  • @joaquimrodriguez8961
    @joaquimrodriguez8961 Рік тому

    When it comes to roommates the only objections are no smokers Casanovas due to thumbing on walls and noisy bed springs and definitely no Satan worshippers, i.e., Ouija boards, tarot cards or any other nonsense.

    • @wifi_soldier5076
      @wifi_soldier5076 9 місяців тому

      Are you against all silly religious stuff?

    • @theDemolisher13
      @theDemolisher13 4 місяці тому

      @@wifi_soldier5076No they got a point with the ouija boards. I will say zealots of any faith are not fun to be with. Now I'm not saying being religious is a bad thing either but like everything else in life moderation is key.

    • @leoneltorres4442
      @leoneltorres4442 2 місяці тому

      You must be fun to be around !!!!😂😂😂😂😂

    • @GabHeart-rk6qm
      @GabHeart-rk6qm 23 дні тому

      This is funny ngl 😂😂😂

  • @ratnamsasitharan9298
    @ratnamsasitharan9298 Рік тому

    I am renting a room in a house. My landloard told me to have tenant a liability insurance. Because he told me we have a dog if any thing hapend with you by my dog then it can cover. My question is if something happen by landloard's dog your tenant insurance cover the liability.

    • @SquareOneInsuranceServices
      @SquareOneInsuranceServices Рік тому

      If the dog belongs to your landlord, they would need to have their own liability coverage to cover any injury or damage that the dog causes. Your tenant policy would only respond if the dog belongs to you. You can read more about dogs and liability insurance here, if you're interested: www.squareone.ca/resource-centres/insurance-basics/dogs-home-insurance

  • @7th-Mindset
    @7th-Mindset Рік тому

    Blink 😂

  • @amyip9769
    @amyip9769 Рік тому

    Can I install the backwater valves for condos?

  • @sahbeiacollins3144
    @sahbeiacollins3144 Рік тому

    In Jacksonville Florida looking for a roommate

    • @diggz-roommatefinder3152
      @diggz-roommatefinder3152 7 днів тому

      We recently launched in JAX - if you are looking in the future, check us out :)

  • @temporaryname8905
    @temporaryname8905 Рік тому

    "Your neighbor has a right to enjoy their home just as you do" - No they fucking don't. What kind of horse shit is this. You can measure the freaking decibels. This kind of wishy-washy attitude is exactly why people in the inner city snap and kill people. It's because big old softies won't do anything about serious issues. When you get fired because you can't do your job because you can't get any sleep the last thing you want to hear is somebody telling you to "compromise". The compromise is they stay in there house not making the fucking quarters on my coffee table bounce and I don't call the cops there's your freaking compromise.

  • @temporaryname8905
    @temporaryname8905 Рік тому

    There is a "magic" threshold for noise violation. The laws where I am written clearly define ways to measure the volume of the noise from the property of the person writing the complaint and what times what thresholds are legal.

  • @junehomes
    @junehomes Рік тому

    👀

  • @AndersFalk1234
    @AndersFalk1234 Рік тому

    Amazing job

  • @kimlibera663
    @kimlibera663 Рік тому

    I did to no avail. Filter was clean as a whistle.

  • @africanculture81
    @africanculture81 Рік тому

    Hi new subscriber here. I love your videos, i was involved in an accident and it was my fault, the other driver sent the bill to my insurance which is $120,000. I only have liability of $15,000. I am going to pay for the rest or anything else? What about if the other driver sued me? Should I pay for anything??

    • @SquareOneInsuranceServices
      @SquareOneInsuranceServices Рік тому

      Hi, thanks for commenting. We're a home insurance provider, so we're not in the best position to offer general information about auto insurance claims at this time. As well, based on the numbers you've provided, it seems you may not be in Canada (where we're based), as the minimum liability coverage for auto insurance policies in nearly all provinces is $200,000. In any case, you should seek your insurance provider's advice on what you'll need to do and what will happen next. Cheers, Seamus McKale, Content Marketing Specialist

  • @jamesmata2945
    @jamesmata2945 Рік тому

    I'm in San antonio Texas. Anyone looking for a roommate?

  • @audreyduftwolke1543
    @audreyduftwolke1543 Рік тому

    unfortunately in my country they don't help citizens to deal with this they just let them be i wish i will move on quickly because all of this shit been driving me insane for the past 10 years

  • @ASH-se6kr
    @ASH-se6kr Рік тому

    I like your video thx how much you think average maintenance monthly or annually ? if I own house then rent it you think is profitable this way and easy to find tenant?

  • @user-nq7wl8jd7z
    @user-nq7wl8jd7z Рік тому

    I love this girl 😁❤️‍🔥

  • @motnitsua29
    @motnitsua29 Рік тому

    It is not the landlord requiring the renter to have insurance. the insurance companies are requiring landlords to demand it. The landlord must provide the renters policy number to the landlords insurer even though this is an invasion of the renters privacy and dissemination of the renters private information to a third party. i understand the advantages of having renters have a policy but i dislike the industry collusion to tap a new financial resource and make the landlord do their work.

  • @shobanananda8982
    @shobanananda8982 Рік тому

    Does the regular deductible apply to the jewelry rider?