Insurers Agree to Extend ALE Coverage for Colorado Wildfire Survivors

Insurers agreed to a request from the Colorado Division of Insurance to extend additional living expenses coverage for Marshall Fire survivors.

Homeowners’ insurance companies have agreed to extend coverage for up to 24 months for policyholders that only had 12 months of coverage.

ALE coverage provides money for the expenses people have when they can’t live in their home due to a catastrophic event like a fire, but still need a place to live, along with the other necessities of life.

Of the 57 companies responding to the DOI’s request, 47 did not have policyholders with only 12 months of coverage, or did not have policyholders with a total loss.

Ten companies had policyholders with 12 months of ALE, and all 10 companies agreed to extend ALE coverage up to 24 months for Marshall Fire survivors who experienced a total loss of their owner-occupied home.

Natural Disasters

Was this article valuable?

Here are more articles you may enjoy.

Interested in Carriers?

Get automatic alerts for this topic.

Source link