Understanding Loss of Use

by | Apr 21, 2023 | Commercial Large Loss, Katie Smith, PHC Restoration

What is Loss of Use?

Loss of use coverage is an insurance policy term that refers to funds available to the policyholder when a covered event, such as severe water or fire damage,  makes a home or business temporarily uninhabitable.

For example, residential loss of use may cover meals if a kitchen is out of order, or lodging if the home isn’t safe to occupy. Commercial loss of use may cover payroll when a business is inoperable and employees are not able to report to work. 

According to Universal Property, “Loss of use coverage can be a tremendous help that eases the stress of a natural disaster. The purpose of this coverage is to protect you and your finances so that you can maintain your standard of living without going into debt.” To learn more, visit: Loss Of Use Coverage

Policyholders should work with their insurance agents to determine the appropriate amount of loss of use to minimize the financial impact of property damage. 

house fire in lillington

House fire in Lillington, NC

Based on our experience, we understand that each moment of mitigation and reconstruction can interrupt your hours of operation at work, or time spent with family in the comfort of your own home. From the moment we receive your call, we gather as many details as possible so we can arrive at your property with all the necessary equipment, allowing us to begin work immediately. 

Our Technicians and Project Managers will work with you to identify your high-use areas and prioritize the restoration of those areas to keep downtime as minimal as possible. We will work to creatively find ways to keep you in business or at home while work is underway.

Commercial building burst pipe in Apex, NC

Commercial building burst pipe in Apex, NC

If you experience sudden and unexpected damage to your home or business, give us a call at 910-814-2502. Our certified professionals are available 24/7 and are here to help when you need us most.