Is Extra Expense The Same As Business Income?
No, Extra Expense Coverage and business income coverage are not the same. While Extra Expense Insurance covers your business for costs above and beyond normal operating expenses that are necessary to keep your business solvent in the event of property damage, business income or business interruption insurance covers your day-to-day operating expenses, such as utilities and rent, as well as lost income. The two coverages are typically added as endorsements to a commercial property policy or to a business owner's policy. Read more about Extra Expense Coverage.