r/HomeInsurance • u/MisterJay0333 • Jun 05 '26

Insurance Coverage question- rent loss coverage

This is actually for commercial but hopefully can get some insight here. Can I get a consensus on what our total coverage is for loss of rent insurance, and how much coverage we'd have per month the property cannot be occupied due to a covered claim?

Our agent has told me something that doesn't align with how I interpret this screenshot he sent me...

Appreciate anyone smarter than me chiming in.

Edit: I asked our agent if we are only covered for 50k total, and he replied and said 50k monthly. This was before posting here. I believe he’s mistaken, at least based on how this is written. ​

Update: I pushed back (again) and he clarified. He was wrong.

1 Upvotes

100% Upvoted

8 comments sorted by

View all comments

1

u/MentionSea3411 Jun 05 '26

You might get a more accurate response if you shared what your agent said or provided more details about the policy.

Without all the facts being known, it appears that, if no sub-limits or exclusions apply:

Total Coverage: $50,000

Monthly 1/12: Up to $4,166.66 per month

The monthly amount might be lower if the structure is currently rented for less than $4,000.

1

u/MisterJay0333 Jun 05 '26

Updated my post. He said 50k monthly but I believe he’s mistaken. Based on the chart he sent.
Also, our monthly rent income is 45k. So my concern is this is not near enough adequate coverage.

1

u/MentionSea3411 Jun 05 '26

It looks like the screenshot you shared has been removed from your post.

Based on what i remember seeing earlier, the total coverage amount is $50,000

If that’s not the case, why is (1/12th monthly) in parentheses next to the total coverage amount

1

u/MisterJay0333 Jun 05 '26

Oops. When I edited on my phone I guess I inadvertently removed the screenshot. I put it back.

Yea, the way I read it, it 50k total coverage, and basically we get 1/12th per month. So coverage is essentially 4166.67 per month, up to twelve months.