Across Canada and right here in Windsor – Essex, more and more people are operating home-based businesses.
When setting up a home-based business, many know the importance of offering a quality product or service, having a brand identity, getting referrals and actively marketing, but many forget one critical element:
Insurance
For the most part, typical house insurance policies do not cover business-related items, such as tools, supplies and inventory. While not all types of home-based business requires specialized insurance, it’s important to know there are two implications for those who do not have proper business insurance:
- If there is a claim, the business-related items may not be covered
- The insurance company may cancel the existing home-owners policy
Another important consideration is whether or not customers visit you at your residence. If so, this may increase the need for liability insurance.
It’s important that business owners, regardless of where they work, have an honest conversation with their insurance professional to ensure they have the coverage they need. If we can help you with your home-based business insurance needs, please reach out: 519-736-8228