Home-based business

The majority of home-based businesses lack adequate business insurance. Too often they rely on homeowners' policies, which exclude or limit coverage for commercial activities. Advise your insurance representative about your home-run business.

Make a list of all property that you are using, even in part, for your business. Computers, copiers and fax machines, in particular, may be used for both personal and business purposes.

It may be possible to extend your home policy to cover business exposures. If not, a business policy held with the same insurer may avoid problems with claims involving property such as laptops used for both business and pleasure.

Source: Insurance Bureau of Canada

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