Additional expense insurance refers to supplemental coverage in addition to business interruption coverage. This particular policy covers additional costs associated with getting a business back on its feet in the wake of a disaster.
When a business suffers a catastrophe, it is often necessary to lease a temporary location while the original location is closed. This transition creates unforeseen costs and having the right coverage in place to absorb these expenditures could mean the difference between being able to continue operating or being forced to shut down temporarily- or even permanently.
These policies do more than just cover unforeseen costs. Keeping the doors open for business is not only your livelihood, but also allows employees to retain their positions, and their income. In the end, lost revenue hurts everyone.
By ensuring that your business doesn’t suffer more down time than is necessary, a public adjuster can serve a pivotal role. Time spent working with your insurance company takes away valuable time from your schedule, resulting in further delays for you. Public adjusters work with insurance companies to get you paid quickly, and adequately, so you can focus on re-opening your doors.