This is an optional coverage which, in the event of a covered property loss, pays for the loss of income that a business suffers as a result of not being able to operate due to that property loss. Business Income is defined as net income (net profit/loss before income taxes) that the business would have earned had the loss not occurred PLUS continuing normal operating expenses. Extra Expense coverage provides reimbursement for necessary expenses, incurred after the covered loss, over and above the business' normal operating expenses. Those additional expenses are paid in order to minimize the time that the business operations are suspended due to the covered property loss.
Foremost Insurance Group
Patriot Insurance Company
Philadelphia Insurance Companies