Business income
Coverage for lost net income and continuing expenses when a covered property loss shuts you down.
What it means
CP 00 30 is the common ISO business income and extra expense form. A BOP may include a version inside BP 00 03. Waiting periods and period of restoration matter as much as the dollar limit.
Why it shows up
After a fire, water loss, or civil authority shutdown, this is the form people wish they had understood at renewal.
What to look for
- CP 00 30 versus extra expense only
- Waiting period
- Dependent property endorsements
Coverbird reads the declarations and form schedule on the PDF you already have. It does not sell insurance or say whether a limit is enough.
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Related terms
- Coinsurance
A property penalty if you insure a building or contents for less than the required percentage of value.
- Declarations page
The front pages that list who is insured, what is covered, the term, premium, and limits.