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Coverage for loss of income and extra expenses necessary to continue operating following a covered loss.
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∙ 14y ago
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What is BIEE insurance coverage?
Business Income and Extra Expense.
What is business income and extra expense about?
Business Income replaces your lost business income in the event of a covered loss. In regards to an apartment building insurance for example, if there is a fire and the tenants have to move out while the contruction is being completed, you will be compensated for your loss of business income. The extra expense can be used to place your tenants in temporary housing, and may include moving expenses. Check out my website for more details!
What business income coverage form pays the extraordinary expenses incurred to maintain operations after the occurrence of a covered peril?
Business income insurance DOES NOT contain coverage for extra expense, extra expense is a coverage form add on that you must opt to purchase along with the business income. Extra expense coverage can be used to mitigate the business income losses by spending up front money, such as a generator at a food plant to make sure the food isn't spoiled after a fire takes down the connection to the power grid.
Are disability insurance premiums a business expense?
They can be if set up properly. For instance, if you are a business owner you would take out a DI plan as a Business Overhead Expense policy. The benefits are used to pay the lease or mortgage, utilities, salaries, insurance, etc. You benefit directly as your business stays afloat and profitable and you continue to get the income. You write off the premiums as a business expense so therefor it works out free or nearly free. Add the extra bonus of a Return of Premium rider and you get all your money back at the end of the policy thereby giving your self a huge retirement bonus that in essence cost you nothing!
Would extra payments made on a credit card be an asset liability income or expense?
liability
Tips and knowledge to leasing a business?
When you are leasing a business you should be aware of the extra expense that this will cause. Make sure you don't overextend your new business.
Is rental income operating or non operating revenue?
It depends on the business. If the company is in the business of renting apartments, then it would be operating income. But on the contrast if the company is renting out an extra room for some extra cash than no.
What is the purpose of sponsors for fighters in mma?
As extra income for the fighter and as advertisement for the business.
Where can one inquire about business health care insurance?
Business Health Care Insurance is useful for big companies that want to provide extra benefits to their employees. It also gives the business special tax incentives.
Is umbilical cord blood storage worth the extra expense?
Stem cells from cord blood can be used to treat certain types of cancer that might otherwise be incurable. Some people look at it as an extra insurance policy for the family.
What are some extra safety features someone can get for their commercial office insurance?
There are so many extra security features available for commercial office insurance, Commercial insurance itself is full of different features such as buildings cover, liability insurance, financial income cover, and goods in transit cover. There are many more depending on a selected insurer.
What is ex godown price?
ex godown price means that all expenses as like transport, insurance taxes and other expense are extra from the finished goods from factory or godown
