TIME ELEMENT – Off Premise Utility Services
Most businesses depend on utilities that provide water, electricity, heat, air conditioning, and communication services to conduct their operations. Many experience a major indirect loss of income or incur substantial extra expenses to continue operations in different ways or at other locations when any of these critical utility services is interrupted.
Many businesses incur extra expenses to resume operations quickly in an attempt to reduce the amount of their business income loss. They may change to an auxiliary power source or physically move to a temporary location to continue operations or provide services.
Time element coverage forms do not insure these indirect (and often costly) exposures to loss when the interruption of power is due to a cause of loss that occurs off premises. However, coverage can be added.
Note: Overhead transmission lines are included only if checked as covered on the endorsement schedule.