ALE insurance helps cover the expenses that come when you cannot live in your home due to a catastrophic event.
The insurance companies will extend ALE coverage for up to 24 months for policyholders that only had 12 months of coverage. The extension comes following a request from the Colorado Division of Insurance . Many Marshall Fire victims were underinsured and have struggled to rebuild one year after the fire.
“I am relieved to see these insurance companies giving their policyholders up to 24 months of ALE coverage. For the homeowners that only had 12 months of coverage, I know that these extensions will be a small bit of relief in what continues to be a trying time,” Colorado Insurance Commissioner Michael Conway said in a press release.
About 57 companies responded to DOI's request, but 47 did not have policyholders with only 12 months of coverage or did not have policyholders with a total loss, according to Boulder County. Ten companies had policyholders with only 12 months of ALE coverage, and all 10 agreed to extend the policy.Marshall Fire victims who had 12 months of ALE coverage and have not received an extension should contact their insurance company.