Bank Extra Expense Insurance

Extra expense insurance pays your increased costs of operation with the purpose of getting you back into business quickly. EE pays for renting temporary quarters, advertising to get customers back, costs of wiring, and setting up your temporary quarters, costs of expedited shipping, etc.


Extra expense insurance is a part of business interruption insurance that is particularly important to banks and trust companies.


For banks I normally recommend $5,000 per employee at a location plus $100,000.  If the location has your data center then add another $50,000.

The above is not at all scientific.  Its just something I have come up with that seems to help quantify the issue for my bank clients.  A safer bet is to double the number in the above.

Not once in 30 years has a client said they bought too much extra expense coverage – especially after a loss.