Fair Rental Value

Coverage D for Fair Rental Value is an important coverage to consider on your Florida landlord insurance policy. Depending on the type of policy, it may show the coverage on your declarations page, or it may be part of the policy terms and conditions.

Loss of use / fair rental value insurance

So What is Fair Rental Value?

Fair Rental Value provides money for your lost rent if there is a covered loss that prevents you from renting your unit. You will still have mortgage payments, taxes, insurance, and utilities during these repairs. This coverage provides income while repairs are made, so you can cover these expenses.

There are some things this doesn’t cover, though.

  • Vacancy from a non-covered loss. When something that the policy doesn’t cover (Like flood, if you don’t have flood insurance) damages the property, Coverage D wouldn’t apply.
  • Normal vacancies. Vacancies are part of the rental business. Make sure that you keep proper reserves so that you are able to cover normal vacancies. Also,
  • Additional living expenses for your tenant. When the unit is damaged, some tenants think the landlord covers their expenses. This is actually what they would need renter’s insurance for. (If your tenant’s need renter’s insurance, we can assist them with that too. Your tenant can call us to make sure they obtain proper coverage for their personal property, liability, and additional living expenses.)


Don’t allow your unit to be vacant during repairs without replacement income. Make sure that your policy includes Fair Rental Value.

Do you have additional questions about this coverage or your policy? Our team of experts at Think Safe Insurance would be happy to do a FREE review for you to make sure you have the right coverage at the right price. Fill out the form on the review link or give us a call at 813-425-1626.