What does Rents or Rental Value Insurance mean? Read on to discover the definition & meaning of the term Rents or Rental Value Insurance - to help you better understand the language used in insurance policies.
Rents or Rental Value Insurance
Time element property insurance that pays for loss of rental income when a building that is rented out to others has been damaged by a covered cause of loss. Coverage is also provided for the fair rental value of the portion of the premises occupied by the insured. Rental value insurance can be provided by a business income coverage form or a specialized rents or rental value coverage form.
We hope the you have a better understanding of the meaning of Rents or Rental Value Insurance.