Time Element Coverage
Time Element Coverage protects business owners in the event business property is deemed partially or wholly unusable as a result of a covered cause of loss. As a benefit of this coverage, business income with extra expense coverage reimburses policyholders for the sum of the net income that would have been earned plus continuing expenses for the length of time needed to repair the property following a covered cause of loss. Extra expense coverage also pays costs necessary to continue operations, including rental of auxiliary facilities, and expediting expenses as they serve to reduce the cost of loss.
Learn more by contacting the staff at HSA.