Dictionary of Business Terms: extra expense insurance
extra expense insurance
insurance designed to protect businesses in the event of an unforeseen emergency requiring additional expenses, allowing them to continue operations. For example, in the event of a fire, the business may need equipment to continue operations until the main facility and related equipment are restored.
Dictionary of Insurance Terms: extra expense insurance
extra expense insurance
form that covers exposures associated with efforts to operate a business that is damaged by a peril such as fire. For example, a special electrical generator may have to be purchased in the event of a long-range loss of electricity if the business is to continue to operate.
