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Self-employed worker

Separate insurance

Self-employment insurance is a good way to reduce the risks. In fact, theft, fraud or a fire, for example, are setbacks that any head of a company can face. When you buy insurance, you have the security and peace of mind you need to help keep your business running smoothly! It makes sense to adequately protect your property and any potential loss of business income. Your business may well depend on it!

There's a difference between a home insurance policy and a policy specifically tailored to the needs of someone who’s self-employed. Self-employment insurance fills the gap between the coverage under a home insurance policy and the needs of self-employed workers.

Limits

Your home insurance policy only covers your personal activities.
Your coverage limit is only $2,000 in the event of loss of property used for your professional activities. These include:

Limited coverage to
$2,000

  • Computers
  • Furniture
  • Books
  • Tools
  • Professional
    instruments

Adjust your coverage

When you first start up a business, you don’t usually own a lot of tools, equipment or software. At the beginning, the small decorative boxes sporting the company logo or the latest high-performing software still seem out of reach. However, soon business picks up and you start purchasing everything you need to effectively run or grow the business. It isn’t long before your exceed the $2,000 policy limit for personal property related to your professional activities.

That’s when adjusting your coverage amounts becomes something to think about!

Loss of income

Fire causes major damage to your home. And you need to temporarily relocate your office. Your home insurance policy only reimburses additional living expenses for your family.

Your business is not covered, so any unexpected additional expenses will come out of your pocket.

To have a policy that meets your needs, you must determine precisely:

  • Your activities,
  • The value of the property to be insured,
  • The amount of coverage needed.

Have an accountant manage your finances to better protect yourself should you lose income following a loss. This professional will be able to prove your loss at the time when you need it.

Does your
policy cover an
Act of God?

Does your policy cover an Act of God?

All are sometimes referred to as Acts of God. Some are automatically included in home insurance policies. Others can be insured by adding a coverage known as an endorsement. Learn More

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