(860) 583-4127
info@cvmco.com
C.V. Mason Insurance AgencyC.V. Mason Insurance AgencyC.V. Mason Insurance AgencyC.V. Mason Insurance Agency
  • Home
  • About Us
  • Services
    • Auto Insurance
      • Auto
      • Boat
      • Classic Car
      • Motorcycle
      • RV
      • Auto Insurance Farmington, CT
      • Auto Insurance Plainville, CT
      • Auto Insurance Southington, CT
    • Home Insurance
      • Condo
      • Home
      • High Value Home
      • Renters
    • Life Insurance
      • Life Insurance
      • Health Insurance
    • Commercial Auto
      • Commercial Auto
      • Auto Dealers
      • Fuel Oil Dealers
      • Snowplow
      • Trucking
    • Commercial Property
      • Commercial Property
      • Apartment Owners
      • Condo & HOA
    • Commercial Insurance
      • Business Insurance
      • Contractors
      • Landscaping
      • Liability
      • Manufacturers
      • Restaurant
      • Workers’ Compensation
    • Get A Free Quote
  • Client Support
    • Payments & Claims
  • Blog
  • Contact
    • Referral Program
    • Write A Review
  • GET A QUOTE

Understanding Extra Expense Coverage for Business Insurance

    Home Commercial Insurance Understanding Extra Expense Coverage for Business Insurance
    Previous
    Extra Expense Coverage

    Understanding Extra Expense Coverage for Business Insurance

    By C.V. Mason Insurance Agency | Commercial Insurance | 0 comment | 16 June, 2022 | 0

    As a Connecticut business owner, you must navigate multiple rights and responsibilities. A potential emergency could arise at any moment, whether it’s an accidental fire or a liability dispute. Purchasing business insurance in Bristol, CT can help your business continue to function properly during these times. Extra expense coverage is one of the most popular add-ons to business insurance policies, and this article helps you understand how it works.

    What Is Extra Insurance Coverage?

    Extra Expense coverage helps pay for the extra costs involved in operating your business if substantial damage occurs. This type of coverage can help you find a temporary place to stay while your property is repaired, borrow equipment while yours is being replaced, and cover extra payroll costs to compensate workers for handling repairs on time.

    This coverage is also beneficial if a natural disaster damages your business and you opt to continue operating instead of shutting things down temporarily. It’s often purchased along with business interruption insurance, and insurance companies offer the coverage in commercial property insurance policies and Business Owners’ Policies as well.

    What Does It Cover?

    Extra expense coverage helps protect your business from having a financial catastrophe. Your business insurance in Bristol, CT, should cover the necessary repairs in the event your business was damaged by a fire or explosion or even perhaps a criminal severely vandalized your property. Handling these repairs can be expensive, and extra expense coverage is a safety net.

    If you decide to move, the policy also handles the costs of renting the new property. Moreover, extra expense coverage supplies the funds to help pay for the damages and get things back to normal as soon as possible. Investing more money now could help reduce the risk of another disaster, saving your business money in the future.

    Remember that extra expense coverage can only protect your business if the loss is covered through your commercial property or Business Owner’s Policy. Analyze your policy to understand which events are covered through your policy and which things aren’t. Potential policy exclusions include flood damage, earthquake damage, and fungi/mold development due to poor maintenance.

    How Does Extra Expense Coverage Differ from Business Income Coverage?

    While extra expense and business income insurance are similar, considering they protect your business in the aftermath of a loss, each covers a unique set of losses. If your property needs repairs, business income insurance covers the lost wages you would normally receive if the business was functioning properly.

    Extra expense coverage covers the amount of money you spend outside your budget to help maintain business operations. If your business continues to function due to the support of business income insurance, it’s possible that purchasing extra expense coverage isn’t necessary. However, the extra layer of protection may benefit your business if a disaster occurs when your services are in high demand.

    Finding the Right Coverage

    Extra expense coverage may already be included in your Business Insurance in Bristol, CT policy. Analyze your policy closely and remember that extra expense coverage is not available to purchase as a stand-alone policy, so it’s recommended that you purchase an insurance policy that includes it.

    Consult with C.V. Mason & Company Insurance Today to Get Started

    Extra expense coverage is designed to give your business a layer of protection during your most challenging times, where one major catastrophe could jeopardize your entire business. With extra expense coverage, you can ensure that things will keep moving forward. Contact our insurance experts at C.V. Mason Insurance Agency for any questions Regarding extra insurance coverage. Our team can help you renew or purchase your business insurance policy, ensuring that it includes extra insurance coverage.

    Get a free insurance quote for your business

      Name*

      Email*

      Phone Number*

      Zip Code*

      Type of Insurance

      Business Income Coverage, business insurance policy, Extra Expense Coverage

      C.V. Mason Insurance Agency

      The C.V. Mason Insurance agency is a local family-owned independent Insurance agency since 1883. Our goal is to provide you with the best possible coverage at the best possible price. We have 11 Major Insurance companies which allow us to get the best deal for you.

      More posts by C.V. Mason Insurance Agency

      Related Post

      • Follow These Tips To Keep Your Fireplace Working Properly

        By C.V. Mason Insurance Agency | Comments are Closed

        If you have a fireplace, chances are it will get a lot of use during the winter season. Between the sounds of crackling wood and all the heat that your fireplace puts out, it canRead more

      • Common Snow Driving Mistakes To Avoid

        By C.V. Mason Insurance Agency | Comments are Closed

        With the winter temperatures continuing to drop, the roads are becoming more and more dangerous. Even though snow covered road can be a beautiful sight, it can very dangerous once you get behind the wheel.Read more

      • Who Needs an Umbrella Insurance Policy?

        By C.V. Mason Insurance Agency | Comments are Closed

        Umbrella insurance can help to provide the additional financial protection you need. It can be easy to think that you are covered in case of any peril with your existing insurance policies. However, all ofRead more

      • Spoiled Food & Power Outages: Who Will Cover the Bill?

        By C.V. Mason Insurance Agency | Comments are Closed

        Your home insurance company may cover spoiled food after your power goes out. Power outages happen all the time, especially during winter storms. While living in the dark for a few hours may not seemRead more

      • 4 Things You Didn’t Know Your Business Insurance Policy Would Cover

        By C.V. Mason Insurance Agency | Comments are Closed

        Your insurance policies may be providing more coverage than you think! Your insurance policies are meant to provide coverage for some of the most common perils that you encounter. However, the coverages don’t just endRead more

      • How To: Take Care of Stored Vehicles

        By C.V. Mason Insurance Agency | Comments are Closed

        These tips will help you properly maintain the vehicles that you rarely use. Regular maintenance is part of the responsibility of owning a car. However, the maintenance that is required for a car that youRead more

      • Protect the Symbol of Your Love, Your Engagement Ring, With the Right Insurance

        By C.V. Mason Insurance Agency | Comments are Closed

        Do you need engagement ring insurance? The answer is probably yes. As Valentine’s Day approaches, it may give you great joy to find out that you can get covered for your engagement ring, that veryRead more

      • Tips to Get Your Teen Driver Road Ready

        By C.V. Mason Insurance Agency | Comments are Closed

        Is your teen prepared to take on the road? Use these teen driver tips to help. Letting your teen take the wheel is a serious trust exercise for most parents. Give yourself a little extraRead more

      Previous

      Subscribe

      * indicates required

      Popular Posts

      • The Three-Second Driving Rule (2)
      • Small Business Insurance That Your Small Business Needs (1)
      • Foolproof Ways to Prevent Frozen Pipes in Your Home (1)
      • Can I Cancel My Auto Insurance at Any Time? (1)
      • Be Ready in Case of a House Fire With This Guide & Homeowners Insurance (0)

      Categories

      Archives


      The C.V. Mason Insurance agency is a local family owned independent Insurance agency. Our goal is to provide you with the best possible coverage at the best possible price. We have 11 Major Insurance companies which allow us to get the best deal for you.

      Write A Review

      Contact Information

      • 254 Main St
      • Bristol, CT 06010

      • Phone Number
        (860) 583-4127
      • Fax
        (860) 314-2720

      • Email Address
        info@cvmco.com

      Get A Free Quote

        Name*

        Email*

        Phone Number*

        Zip Code*

        Type of Insurance

        • Home
        • About Us
        • Services
          • Auto Insurance
            • Auto
            • Boat
            • Classic Car
            • Motorcycle
            • RV
            • Auto Insurance Farmington, CT
            • Auto Insurance Plainville, CT
            • Auto Insurance Southington, CT
          • Home Insurance
            • Condo
            • Home
            • High Value Home
            • Renters
          • Life Insurance
            • Life Insurance
            • Health Insurance
          • Commercial Auto
            • Commercial Auto
            • Auto Dealers
            • Fuel Oil Dealers
            • Snowplow
            • Trucking
          • Commercial Property
            • Commercial Property
            • Apartment Owners
            • Condo & HOA
          • Commercial Insurance
            • Business Insurance
            • Contractors
            • Landscaping
            • Liability
            • Manufacturers
            • Restaurant
            • Workers’ Compensation
          • Get A Free Quote
        • Client Support
          • Payments & Claims
        • Blog
        • Contact
          • Referral Program
          • Write A Review
        • GET A QUOTE
        C.V. Mason Insurance Agency
        © Copyright 2022 C.V. Mason Insurance Agency | Privacy Policy | Sitemap |Insurance Marketing Powered By Stratosphere
        Free Insurance Quote

         

        Please fill out the form below and we’ll be in contact with you shortly!

          Preferred Method of Contact

          Best Time to Contact

          Homeowners Insurance Quote

           

          Please fill out the form below and we’ll be in contact with you shortly!

            Preferred Method of Contact

            Best Time to Contact

            Apartment Owners Insurance Quote

             

            Please fill out the form below and we’ll be in contact with you shortly!

              Preferred Method of Contact

              Best Time to Contact

              Auto Insurance Quote

               

              Please fill out the form below and we’ll be in contact with you shortly!

                Preferred Method of Contact

                Best Time to Contact