Income, Extra Expense, and Donations Coverage
Provides funds to help make up for the loss of income that may occur when your school is forced to close due to a covered incident.
How can this benefit you?
Covers up to the limits shown in your policy declarations:
- The earnings and donation income the school would have ordinarily collected during the restoration period.
- The payroll and other continuing expenses that school normally incurs during the course of operations.
- The expenses that a school incurs in resuming its operations to normal levels during the restoration period.
Example of Claims Covered
Tornado Recovery: A tornado destroys an entire wing of a private Christian School. Once initial debris has been cleared, administrators rent portable classrooms to house classes until that part of the school can be rebuilt. Income, Extra Expense, and Donations Coverage helps pay for the delivery, set-up, and rental of the temporary classrooms. It also helps pay for any tuition lost while the school was closed following the tornado.
Catering Costs: Following a kitchen fire, a school is unable to prepare meals on site for its students. Until the kitchen damage is repaired, the school buys prepackaged meals for the children who would normally receive hot lunches. Income, Extra Expense, and Donations Coverage helps the school recover the extra cost of buying catered food.