fair rental value (FRV) coverage
Provided as part of additional living expense (ALE) under a homeowners policy.
If the insured rents part of the home to a tenant and that part becomes uninhabitable
due to damage from a covered peril, FRV coverage reimburses the insured for
the lost rent. See also
Additional living expense (ALE) coverage.
Links for IRMI Online Subscribers Only:
PRMI 10.D