We have been getting some coverage questions relating to not having power in your house, then if you can go live in a hotel and be reimbursed under your home insurance.
Here is how most all homeowners policies cover loss of use of your property due to loss of power.
They exclude off site power loss, meaning if your power loss is due to ice on lines down the road they do not extend coverage for that. This unfortunately is what happens to most people.
If the failure results in accidental direct physical loss, from a Peril Insured against on the “residence premises” we will pay the loss caused by that peril. So if power loss happens on your property you can have coverage.
Here is an example we’ve had in the agency. We had a client that had a tree fall into a power line on their property, this lead to the power receptacle being pulled out of the house and loss of power. This was covered as it was direct to the house, on the property not down the street.
Hope this helps answer some questions for you or your friends that may be impacted by our recent weather.
Russ Lowry, President
Oklahoma Insurance Group, Inc.