COVID-19 Update: All offices visits will now require a scheduled appointment. Please contact us to schedule an appointment.

Additional living expenses, also referred to as loss-of-use, are part of a coverage plan that may be included in your homeowners insurance in Edmonton. It covers the living expenses that occur while your home is being repaired or rebuilt. Examples of additional living expenses can include immediate necessities such as personal hygiene items, possibly clothing costs, the additional cost of eating out at restaurants, staying at a hotel or a loss in income if you are renting out part of your home to a tenant. Additional living expense insurance is designed to cover you for any extra expenses you may incur because you are temporarily displaced from your home in the event of a fire, flood, explosion, or lightning accident.

To get additional living expense coverage for your home, it is recommended to understand your homeowner coverage, keep all receipts related to expenses organized, and get a copy of written authority from insurance companies before making any large purchases.

Beyond Homeowners Insurance in Edmonton – What You Need To Know About Additional Living Expense Coverage

  • Understand the limits of your existing homeowners insurance plan: Homeowners who need additional living expense coverage should analyze how long it will take them to get back to their home, and what the current limits are on the additional living expenses. More importantly, it is recommended to check the policy before disaster occurs and increase the coverage for additional living expenses if you find that it is too low.
  • Make a list of all extra costs incurred: Home insurance in Edmonton will be insured for the cost of rent or hotel stays, although some other costs may also be covered. This could include restaurant meals until you, as the insurer, have access to a kitchen, storage fees, mileage for driving to work or taking children to school, pet boarding if the pet needs to stay in a kennel, laundry, and utilities.
  • The coverage is only meant to be additional: This kind of plan is only meant to cover additional expenses that you would not have had if disaster did not strike. Any money saved from living in a temporary home during this time will be deducted from the reimbursement.
  • Receipts should be kept: Homeowners insurance does not typically pay a lump sum; the expenses are reimbursed as they are incurred. It is important for you as the insurer to be meticulous in keeping records of every expense, and for all receipts to be carefully retained. Without receipts, your homeowner’s insurance claim for additional living expenses will not be paid.

Talk to our friendly and knowledgeable team at MBS Insurance to understand how additional living expenses are calculated and reimbursed. We can review your current policy to identify any gaps and ensure that you have the right level of coverage at the best price. We have been providing homeowners in Edmonton with affordable and convenient insurance coverage for over 45 years. Whether you need auto insuranceRV insurance or any other type of coverage, we can help.

Call 780-436-7880 or contact us online to get a quote for homeowners insurance in Edmonton.

How an Insurance Broker Saves You Time and Money

Do you know the benefits of an insurance broker?

Suppose you’re looking for the best insurance coverage at the best rates in Edmonton. In that case, you’ll first want to understand the benefits of an insurance broker and how they can help protect you in all sorts of different situations – whether it be saving you money, time or giving you simple peace of mind.

What Are the Benefits of an Insurance Broker?

Here are some of the many benefits of an insurance broker.


1. Saves Time

An insurance broker does all the work for you, so you don’t have to spend your valuable time shopping around for insurance. Instead, you simply provide your broker with information about your needs, and they shop the markets on your behalf.


2. Saves Money

Insurance brokers work with many different partners to find the best deals on the insurance that works for you. They take all your needs into account and make recommendations that are in your best interest. They have relationships with many insurance partners and can negotiate competitive rates and discounts, saving you money in the long run.

3. Expert Knowledge and Advice

An insurance broker provides you with the support and expertise you need to find coverage that suits your needs. They work with various products and services to find the coverage that best suits you. In addition, they can draw from an extensive knowledge base and experience to advise you on the best options. 

Insurance Brokers provide expert and unbiased advice. A wealth of knowledge about coverage and market rates combined with expert risk assessment ensures your possessions and business are adequately protected. Whether you are looking into auto insurance rates, tenant insurance, or home insurance rates, your insurance broker can help you every step of the way.

You can utilize their expertise to quickly identify your options and rely on their unbiased advice to help you make the best-informed decision for your situation.


4. Working For Your Best Interests

Since insurance brokers do not work with one particular company, they have nothing to gain from recommending a specific product. The insurance company also pays them a standard commission. Thus, there is no financial incentive to choose one insurer over another.

Insurance brokers have your best interests in mind. You can count on them to find you the best rate possible, which can give you the peace of mind you need. You can rest assured knowing that if you ever need to file a claim, one of our brokers will be there by your side to guide you every step of the way. They act as an advisor on insurance-related matters. They will shop the market for the best coverage and rates for you. Since fulfilling your needs is their only priority, they will provide independent, unbiased advice on the right coverage for your situation.

5. Privileged access and rates

Insurance Brokers have access to a wide selection of the best insurance companies in the country. These insurance companies are only accessible by Insurance Brokers. They do not deal with the public directly or with Direct Writers. Brokers enjoy long-standing relationships with these insurance companies. Still, they do not have an affiliation with any specific insurer, enabling brokers to provide you with a broader range of options at competitive rates.


6. Transparency

Insurance brokers must give full disclosure about their compensation and its effect on your insurance premium.  They are also required to declare any financial links with specific companies that may be a conflict of interest, enabling you to make the best-informed decision.


7. Risk and Advocacy Experience

Extensive experience dealing with different clients and claim situations equips insurance brokers with a broader perspective on how to reduce your risk. Also, in the event of a claim, you can count on your broker to act as your advocate with the insurance company and handle your claim fairly and promptly.

Speak to MBS Insurance in Edmonton about your Coverage

Reach out to MBS Insurance today to determine your home, auto, and commercial coverage options. Over the past 45 years, our experienced team of insurance brokers in Edmonton has earned the trust and loyalty of our clients by delivering superior products and services. We understand your needs and provide you with the best protection and rates.

There are many benefits of an insurance broker. We can help you understand the intricacies of your insurance plan while saving you money at the same time. We are a trusted insurance provider in Edmonton and provide personal and commercial insurance policies to people living in Alberta. We offer the best rates on recreational, auto, property, commercial, and group insurance policies. 

Contact us online for a free quote or by phone at 780-436-7880.

Enjoyed this article? Here are three more!



This article was originally published on October 7, 2016, and updated for 2021.