Waiting Period Not the Same as a Deductible

Our insured had a business income loss that resulted in a twenty-eight hour closure. The property deductibles section of the policy states that no deductible applies to business income and extra expense coverage. However, the policy also states that the business income coverage is only available during the period of restoration, which does not begin until twenty-four hours following the time of direct physical loss. We think these two provisions are in conflict. What are your thoughts?

Ohio Subscriber

The deductibles section of the policy refers to the monetary deductible amount that the insured agrees to pay in the event of a covered loss. The twenty-four hours prior to the beginning of the period of restoration for the business income loss is a waiting period during which the coverage does not apply. Because the waiting period is not a deductible, the two provisions are not in conflict.