extra expense coverage
Time element property insurance that pays for expenses in excess of normal
operating expenses that an organization incurs to continue operations while
its property is being repaired or replaced after having been damaged by a covered
cause of loss. Extra expense coverage can be purchased in addition to or instead
of business income coverage, depending on the needs of the organization.
See also: business income coverage,
commercial property
coverage forms, commercial
property policy, first-party insurance,
property insurance,
time element insurance.
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