Extended Period of Indemnity
Extended period of indemnity endorsement can be part of a business interruption policy. It covers loss of income during a specified period of time, such as 30 days, after a damaged property is repaired.
It provides a business extra time to recover from closure due to an event covered by insurance.
What is covered under an extended period of indemnity?
These policies typically include a maximum number of days it will cover along with a monthly limit of the amount to be covered. An agreed value – an amount agreed upon by the insurer and insured -- of how much would be paid for this type of claim may be included.