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The recent storms that swept across the country shut many businesses down for days on end.

Downtime like that can cost your business big bucks: The Symantec 2011 SMB Disaster Preparedness Survey revealed that disasters cost inoperable small businesses an average of $3,000 a day.

Most people would never consider opening a business without coverage for things like fires and weather events. But many small business owners don’t think about how they would manage if a fire or other disaster made their building temporarily unusable. A business that has to close down completely while the premises are being repaired may lose out to competitors—or even end up going out of business.

The good news is that you can protect your business with business interruption insurance. Business interruption insurance covers the revenue you would have earned (based on your financial records) had the disaster not occurred. The policy also covers continuing operating expenses (like electricity) that continue even though business activities have come to a temporary halt.

Business interruption coverage is not sold separately—it is added to a property insurance policy or included in a package policy. Talk to an insurance professional like an Erie Insurance Agent to learn more about it and to get a free quote.

Read the full story from Erie Insurance: “Can Your Business Afford to Lose $3,000 a Day?