When does a commercial policy provide insurance coverage for extra expenses?

If your office building is damaged in a fire, or your property is damaged in a severe storm, you may have expenses you didn't plan on. Are you covered?

By FC&S Editors | Updated on March 22, 2017

Question. We are hoping you can help us in interpreting some policy language. Our insured is a small manufacturer who leased premises that were destroyed in a fire. He is insured on a CP 00 10 04 02 with broad form coverage, with the CP 00 30 04 02 business income and extra expense coverage form attached.

He established a temporary office in his own home until he was able to find a suitable space elsewhere, which took about two months.

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