Do you know the difference between Extra Expense coverage and ‘expense to reduce’?
The term “Extra Expense” is often misused in the context of a Commercial Property claim. More importantly, Extra Expense is often improperly estimated and accounted for when placing coverage. A complete understanding of Extra Expense may eliminate unnecessary premiums. Conversely, a thorough understanding of Extra Expense coverage may allow coverage gaps to be filled that you didn’t realize existed.
