Loss of Income & Extra Expense Coverage Explained

Last week we had a client contact us about water damage to her rented premises. She is a photographer renting a space which she uses as her studio. The landlord has a policy in force for the building damage. How is she covered? The Extra Expense & Business Income coverage are both triggered. The Extra Expense coverage pays costs she incurs to relocate in order to minimize or eliminate income loss by allowing her business operations to continue. It pays any related expenses she would not normally incur. If the rent at the temporary location is more, we can address the difference assuming her selected location is reasonable and comparable. The Loss of Income will reimburse her for business i

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