Registered Insurance Brokers of Ontario (RIBO) Exam 2026 – 400 Free Practice Questions to Pass the Exam

In the context of a Homeowner policy, the typical coverage for temporary residence during renovations is often limited and does not provide comprehensive financial support for all related expenses. Most standard homeowner insurance policies offer limited coverage for additional living expenses, meaning that they may cover only certain types of costs that the homeowner incurs while finding temporary housing. This can include specific costs such as hotel stays or rental of a similar property, but it is unlikely to cover everything.

The reason the correct choice reflects "No coverage for temporary residence" is due to the policy’s specific terms. Many homeowner insurance policies do not include a provision for temporary residence unless the home is uninhabitable due to a covered peril (like a fire or water damage). Renovations typically do not fall under these covered situations, thus limiting any associated coverage for temporary living arrangements.

Understanding the nuances of what home insurance covers is crucial for homeowners making decisions based on their policy.