How can you properly insure your home as a self-employed worker? Did you know that there are insurance products available for self-employed workers? To ensure that your professional activities are properly insured, contact an insurance broker for a home insurance quote.
A quick reminder: exclusion of your professional activities
Before discussing the options available to you as a self-employed worker, we would like to remind you that, according to the Insurance Bureau of Canada, your professional activities are excluded from your home insurance policy. We invite you to read our previous article on this topic .
How can you get the right insurance as a self-employed worker?
Should you take out additional coverage (a document attached to your insurance policy that adds or removes coverage) on your home insurance or take out business insurance? Did you know that some home insurers offer customized insurance products for self-employed workers?
As you may have guessed, the first step in getting the right insurance as a self-employed worker is to contact your insurance agent or broker to let them know about your new professional situation and find out if you’re eligible for this type of program. You could benefit from several additional insurance coverages, such as an increase in your insurance amount to cover your business-related property, as well as the extension of certain insurance coverages to cover:
- A loss of business income in the event of a business interruption following a valid claim by your home insurer;
- Additional costs incurred to maintain your business operations after a claim.
In addition, you could also benefit from extended civil liability coverage for your professional activities, excluding any errors and omissions insurance (professional liability). For more information, we also recommend reading this article on your first business insurance policy.
Taking the time to get the right insurance when you’re self-employed can seem complicated, even tedious, given the unique circumstances. And since you’re in control of your own time, you might be tempted to work on your contracts rather than deal with your home insurance… To avoid future insurance problems and invalid claims, contact an independent insurance broker. They will do the necessary research for you with several home insurers specializing in self-employed workers and will be able to advise you on how to protect your most important asset: your home. This will allow you to focus on satisfying your customers with complete peace of mind.