Rentals: Managing and Claiming Equipment Rental Costs Under ALE Coverage
When a home becomes uninhabitable due to damage or repairs, relocating to temporary housing can require additional resources to transport and store your belongings. While professional moving companies offer one option, some homeowners may choose a more DIY approach, renting moving trucks, equipment, or storage crates to manage the move. Loss of Use / Additional Living Expenses (ALE) coverage can help cover rental expenses associated with these needs, reducing the financial strain during displacement.
This article explores what ALE covers for equipment rentals, how to document and claim these costs, and tips for managing rental equipment during your temporary move.
Why Consider Equipment Rentals Under ALE?
Flexibility for DIY Moves: Renting moving equipment allows you to manage the move independently, offering greater control over costs and timelines.
Cost-Effective Option: ALE may cover rentals for moving trucks or equipment, which can be more affordable than full-service moving companies.
Support for Storage and Transport Needs: ALE can cover various rental items necessary for transporting, packing, or storing belongings, ensuring that your move is as efficient and organized as possible.
Types of Rentals Covered by ALE
Moving Trucks and Trailers:
Coverage: ALE may cover the cost of renting a Moving Truck, trailer, or van to transport your belongings to temporary housing or storage. This includes mileage charges, fuel, and any necessary rental insurance for the vehicle.
Considerations: Keep records of the rental agreement and final Invoice on Loti, as ALE typically requires documentation to support your claim. Discuss with your insurer any potential limitations on rental duration or mileage.
Examples: If renting a moving truck costs $150, including mileage and fuel, ALE may reimburse this Expense.
Moving Equipment and Supplies:
Coverage: ALE may cover the rental cost of moving equipment like dollies, hand trucks, furniture pads, and straps, which are essential for safely transporting heavy or bulky items.
Considerations: Document your usual moving expenses to compare them with the increased costs due to displacement. Save receipts for all rental items, as insurers often require proof of purchase for ALE claims.
Examples: If renting a dolly, furniture pads, and moving straps costs $40, ALE may cover these expenses if they’re necessary for safe transport.
Portable Storage Containers:
Coverage: ALE may cover the rental cost of portable storage containers, such as PODS or U-Haul’s U-Box, which allow you to pack and store items at your own pace. These containers can be delivered to your home and then transported to a storage facility or your temporary residence.
Considerations: Confirm with your insurer if there are limits on storage container rentals and storage duration. Keep records of rental costs and any additional fees for delivery, transport, or pickup.
Examples: If a portable storage container costs $200 for rental and transportation, ALE may reimburse this amount as part of your temporary storage needs.
Specialty Equipment:
Coverage: ALE may cover the cost of specialty equipment, such as climate-controlled storage containers, crates for fragile items, or lift rentals for heavy items, when needed to safely move or store your belongings.
Considerations: Discuss specialty rentals with your insurer, as some policies may restrict ALE coverage to basic equipment. Document the necessity for specialty items, especially if they’re required for high-value or fragile items.
Examples: If renting a climate-controlled crate for artwork costs $75, ALE may cover this additional expense if it’s required for safe transport or storage.
Steps to Documenting and Claiming Equipment Rental Costs Under ALE
Review Your Insurance Policy:
Understand ALE Coverage for Equipment Rentals: ALE policies may have specific limits or restrictions for rental expenses. Review your policy to understand the extent of coverage and any potential exclusions.
Confirm Eligible Rental Items: Discuss eligible rental items with your claims adjuster. Some policies may limit coverage to essential moving equipment, so clarify specifics regarding items like storage containers or specialty rentals.
Obtain and Document Rental Agreements:
Get a Quote for Rental Costs Upfront: Obtain quotes from rental companies for moving trucks, equipment, or storage containers. These estimates help you plan within ALE limits.
Save Rental Agreements and Receipts: Keep copies of the rental agreement, receipts, and any additional documents provided by the rental company on Loti. Insurers typically require detailed records to support ALE claims.
Submit Claims for Reimbursement:
File Separate Claims for Each Rental Category: Submit individual claims for each rental item, including supporting documentation for truck rentals, equipment, and storage containers using Loti’s automated Submissions.
Include Both Usual and New Costs: Document any usual moving expenses you might have for comparison. Showing the increased costs due to displacement can help clarify your ALE claim.
Loti can help:
Loti provides easy ways to organize all your associated estimates, invoices and receipts and quickly submit them to your insurance carrier with our automated Submissions form.
Additional Tips for Managing Rentals During Displacement
Choose a Reputable Rental Company: Look for companies with positive reviews and transparent pricing. National rental companies often have more flexible policies and better insurance options, which can be helpful during displacement.
Plan for Efficient Use of Rental Time: If you’re paying for a daily or weekly rental, plan your packing, moving, and storage timeline to make the most of your rental period. This helps avoid additional costs and keeps your ALE claims within limits.
Understand Rental Insurance Options: Many rental companies offer coverage options for their equipment. Confirm with the rental company what’s covered, and discuss with your insurer whether ALE will cover additional rental insurance if needed.
Communicate with Your Insurer Regularly: Inform your claims adjuster if your rental needs change, such as if repairs extend the duration of your storage container rental. Clear communication helps ensure continuous ALE coverage and avoids unexpected expenses.
Understanding Reimbursement and Next Steps
Submit Detailed Expense Reports: Provide itemized receipts and supporting documentation for all rental expenses. Include rental agreements and any costs related to specialty items if applicable.
Monitor Your Claims: Keep in regular contact with your insurance provider to track the status of ALE claims. Many insurers assign representatives to assist with ALE claims and provide guidance on rental expense coverage.
Plan for Extended Rental Needs: If repairs take longer than expected, discuss extending rental coverage with your insurer to avoid out-of-pocket costs for additional rental days or extended storage.
Wrap-Up
Equipment rentals offer flexibility and control when relocating to temporary housing during home repairs. By understanding your ALE coverage, tracking rental expenses, and maintaining communication with your insurer, you can ensure smooth reimbursement and minimize financial stress during this challenging time.
Whether it’s renting a moving truck, portable storage container, or specialty equipment, ALE provides essential support for transporting and storing your belongings while you await your home’s return to livable conditions.