Operating a home-based business

Home-based worker

Are you self-employed and operating your business from home or are you thinking of starting a business from the comfort of your home? Here's what you need to know : 

 

First of all, you have to understand that home insurance aims to protect you in your private life activities. Indeed, professional activities are not covered from your home insurance contract whether you own a house, a condo or rent an apartment. It is important to remember that the coverage for your business property is limited on your basic contract.  

 

Work-at-home endorsement

Most insurers offer a homeworker endorsement. This insurance coverage allows you to choose an amount of insurance that corresponds to the value of the property for professional use, which is generally higher than the limit set out in the contract.  

For the homeworker, it is not just property that needs to be covered, but also liability. Although it is already present on your housing contract, it only covers damage caused to others during private life activities and not those caused in the course of work. For example, a hairdresser who receives a client at her home would not be covered if one of them is injured on the stairs..  

Also,this endorsement can cover the loss of profits caused by a disaster that prevents you from working while the damage is being repaired.. 

It is important to verify with yourinsurer, because depending on the nature of your professional activity, it may assess that the risks are too high to be linked to your home insurance policy. So your insurer may refer you to specialized business insurance instead. 

For any questions, do not hesitate to contact our brokers : 1 866 961-3553 

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