Which of the following is FALSE about Extra Expense coverage in a Business Owner's Policy?

The statement that Extra Expense coverage in a Business Owner's Policy begins 72 hours after the damage occurred is not accurate. Extra Expense coverage is designed to help businesses mitigate the financial impact of property damage by covering the additional costs necessary to continue operations after a loss. This coverage typically applies immediately following the event that causes the loss.

The intent of Extra Expense coverage is to ensure that businesses can keep running even when they cannot operate as usual due to damage, which differs from other types of coverage that may have a waiting period before benefits kick in. Therefore, it is crucial for businesses to understand that this coverage can be particularly beneficial in minimizing disruption and maintaining customer relationships during recovery.

In terms of the other statements, Extra Expense coverage indeed pays for efforts to keep the business operational post-loss, is typically limited to a certain timeframe (often up to 12 months), and is often included in the policy at no additional premium, thus making them correct representations of how this coverage works.