As a business owner, you’ve worked hard to create and build your home business. Make sure that you and your home business has the best insurance policy and protection. Getting proper coverage is cheap and easier to get than you think.
With ThinkInsure, you can create a flexible insurance plan that meets your home business needs and budget. Having a proper policy benefits you in many ways :
The home business environment is rapidly changing. More and more people work from home and are running businesses out of their homes. Insurance companies are creating affordable insurance packages that meet a variety of home business needs.
There are three types of home business insurance coverage business owners should consider.
Liability insurance protects your business assets from damage or loss. Liability also covers you for medical expense claims that you incur while operating your business.
Without liability insurance, an accident or an injury claim may put you out of business. Liability insurance protects you from third-party claims due to injury on your property. It also offers protection for liability from a product or operations.
Think about your home office. Imagine that you had to replace your laptop, your printer or office furniture. What if your business equipment was damaged?
Having home business contents insurance lowers the risks of loss or damage to assets you need to run your business.
A lawsuit or legal issues can happen to any size business, even small home-based businesses.
With legal expenses insurance, you can ensure that you don’t lose your home business over high legal costs. You will have coverage for costs for business and personal legal matters.
Ontario home business insurance costs vary based on the type of business you operate. Many factors impact home business insurance costs. Adding a rider to your home insurance or taking out a separate business policy makes a difference.
Adding specific policies for professional liability, errors and omissions, legal coverage, commercial property and auto also impact costs. Speak with an insurance expert to get a home-based business insurance quote. This will help you to better understand the cost to insure your business.
Insuring your home based business is quick and easy. Tell us about the type of business you operate. We’ll help you choose the right coverage and policy. It’s as simple as 1, 2, 3 :
Tell us a bit about your home business the insurance coverage your business needs.
We’ll compare quotes and coverage packages from the top insurance companies.
You select the lowest rate for the insurance coverage your home business needs.
Home-based business insurance is additional coverage you add to your home insurance policy. It is ideal for sole proprietors and home businesses with one or two employees. It provides you with coverage for many things.
This includes business equipment, the area of your home used for business, and additional liability coverage.
Adding a home insurance for business use rider to your home insurance policy is advisable. The type of home insurance coverage you add will depend on your type of business.
Liability is your biggest risk factor as an Ontario home business owner. Even a slip and fall could put your business at risk. If you have clients and employees come to your home, then a home business policy is important.
Errors and omissions insurance or professional liability insurance coverage is advisable for self-employed product and service providers.
There are no insurance requirements for home businesses in Ontario. But, you need to notify your insurer if you are running a business out of your home. If you don’t, you risk voiding your home insurance coverage.
While coverage it’s not legally required in Ontario or Canada, it’s highly recommended. Not having small home business insurance exposes you to risk and loss. Without coverage you would personally be responsible.
Without coverage, if you experience a loss, or an injury happens on your property, you are on the hook. If you file a claim under your home insurance policy, it will likely be denied.
You could risk home insurance policy cancellation for failing to notify your insurance company about your home business. Don’t expect your home insurance policy to pick up the claim if you don’t have home business insurance.
A home based business insurance policy covers you against common business perils. Get home business risk protection from :
Some home insurance policies in Ontario offer small coverage limits for business materials. You may have limited coverage for business tools, books, supplies.
If you run a business from home, notify your insurer. An insurance expert can help you assess your home policy and determine any additional business insurance you need.
There are a number of ways you can insure your Ontario home business. They include :
Not all business insurance policies are the same. There is a difference between home-based business, small business insurance, and other commercial insurance policies such as contractors insurance.
Home business insurance is ideal for self-employed and solo proprietors who work out of their home. In most cases, adding coverage to their home insurance policy will provide adequate coverage.
Small business insurance is ideal for companies with multiple employees, who have flexible coverage needs. Commercial insurance is for larger companies with greater insurance needs. They have their own office building, fleets of vehicles, lots of employees, and operate on a larger scale.
At ThinkInsure, we have lots of options for home business insurance in Ontario and Canada. We'll help get you the best coverage for your business at the cheapest rates. You can request a quote online or give us a call. Comparing quotes and coverages options is quick and easy.
The benefits of choosing ThinkInsure for home business insurance include :
“ I run a copywriting business out of my home. I wanted to make sure I was protected if something happened. ThinkInsure helped me get affordable coverage. It was really easy and now I don't have to worry if anything happens. ” Andrea, Copywriter, Toronto, Ontario
Your Ontario home insurance policy may offer very limited coverage for a business. Your home insurance coverage will not cover expensive work equipment, computers, product inventory, legal expenses, or liability.
This coverage is available through home business insurance. Get the right protection for yourself and your business. Add a home business insurance coverage endorsement to your homeowner’s insurance policy.
Yes, many insurance providers allow you to add additional coverage for home businesses. You can append this coverage to your current home insurance policy as a rider. Coverage options vary from insurer to insurers.
Any person operating a business out of their home should seriously consider home business insurance. Doing business from you home adds additional risk that requires a home business policy. Protect your business, your home, and yourself with the proper home business coverage.
Home based business policies ensure your business has protection. It also gives you peace of mind in knowing you are not putting yourself, your business or home at risk.
Working from home and owning a business are two different things. You do not typically need business insurance if you work from home. However, there may be instances where additional coverage is recommended.
Speak with your employer and insurance expert to assess your coverage needs.
Yes. All self-employed individuals should consider a home business policy if they work at home.
It depends. You may have very limited coverage for any business property located in your home. If you plan to keep inventory or supplies on your personal property, consider a business policy to ensure you have the right coverage in place.
