Definitions for "EXTRA EXPENSE COVERAGE"
Covers additional costs of continuing your business following a covered loss or damage to your insured property. This coverage could include the expense of renting an alternative office and buying new office supplies. This coverage is important if you can't close your business in the event of a loss, but must quickly find alternative office space to continue your business operations.
Insurance coverage for disaster related expenses, which may be incurred until operations are fully recovered after a disaster. Next Total Integrated BCP Maintenance Seminar 20 September, 2006 San Diego, California Find Out More
This protects the policyholder against the extra expense that may be involved in carrying on his/her business after the occurrence of a loss. For example, if a newspaper plant was damaged by fire, the publishing company might have to get their paper published by a rival plant until their own could be restored. Thus, they could carry on their business but at extra expense to themselves.