What does Extra Expense Insurance mean? Read on to discover the definition & meaning of the term Extra Expense Insurance - to help you better understand the language used in insurance policies.
Extra Expense Insurance
Extra expense insurance is insurance that covers businesses for extra expenses they may incur in the event their businesses must temporarily shut down. Distinct from business interruption insurance, it covers expenses the former does not; however, these costs must qualify as necessary and reasonable. The coverage period lasts from the time the business had to stop operations until it can return to normal operations.
We hope the you have a better understanding of the meaning of Extra Expense Insurance.