Additional guarantees - Separate insurance - Insuring - Self-employed worker - Business | Infoinsurance.ca

Self-employed worker

Separate insurance

Following a loss, you can no longer work and there’s no income coming in. Your employees steal from you. These are just some of the situations for which you can get insurance coverage.

You can add coverage called additional guarantees and endorsements to the self-employment insurance policy. Here are the most common:

Operating Loss or Loss of Profits Due to a Covered Peril

After an insured peril occurs, you may need to relocate your business temporarily to continue your professional activities. This coverage covers additional expenses incurred while your premises are being restored. It also provides the reimbursement of lost income suffered during this period. This is not salary insurance, as the insurer only compensates you according to the covered peril.

Accounts Receivable, Valuable Documents, and Professional Fees

To measure the loss suffered following an insured peril, you can use the services of an accountant or notary. The professional fees paid to them are covered under this endorsement, which also covers:

  • Cash inflows that the insured can no longer receive due to an insured loss.
  • Valuable documents in your possession as part of your professional activities.
  • Professional fees paid by the insured to professionals to assess the loss.
Theft and Misappropriation

Additional coverage against:

  • Loss
  • Misappropriation
  • Reduced value of funds or securities after their disappearance, either on insured premises or off the insured premises, such as:
    • Deposit
    • Theft
    • Break-in
    • Counterfeit bank notes, credit cards or debit cards