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Homeowners policy rarely covers home-based business, says Amity Insurance

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QUINCY, MA ISSUED December 8, 2011….The Internet and technology in general have allowed an increasing number of people to run home-based businesses, but for those wondering if their homeowner's policy will cover the risks of a home business, the answer in nearly every case is "no," according to Amity Insurance Agency, Inc., the region's leading full service agency.

Practically all homeowners' policies clearly exclude business operations and not having proper coverage in place can leave you with uninsured exposure; therefore it is necessary for separate business insurance to cover home-based business risks.

While many home-based business owners may not feel the need for coverage since nobody sets foot on their premises, the problem lies in liability claims that occur away from the physical business location. This can include someone taking action for information on your website or getting injured as a result of the product or service you provide.

Most business policies include coverage for personal injury lawsuits, off-premises injury (in the event someone is injured by any kind of property you take out in the field) and will also cover you during a trade show.

From a property standpoint, any business property you may have in your home is usually excluded or has very limited coverage under a homeowners' policy. Obtaining coverage to protect your computers, equipment, furniture, inventory and other physical assets helps keep the business in operation with minimal disruption and financial loss. A business policy also usually covers loss of income – payment for income that is not earned as a result of a loss covered under a policy. A business policy may also include coverage for items such as valuable papers and damage to property of others.

Hoping that your homeowners' policy is going to provide coverage in the event of a claim will leave you frustrated should your business experience a loss. Businesses have a much higher risk than a homeowners policy allows for, and homeowners claims adjusters will deny coverage for business-related claims in the event of a loss.

It's wise to speak with your insurance agent to explore your specific business insurance needs and options.

About Amity Insurance

Amity Insurance Agency, Inc. is a full-service agency dedicated to meeting your business, professional and personal insurance needs.

Amity Insurance is licensed in most states. The agency maintains headquarters at 500 Victory Road, North Quincy 02171. For information on products or services, please visit amityinsurance.com or call (800) 940-4010 to schedule a free analysis of insuranc