There are more insurance options in Canada than you can shake a stick at! Stay on top of the best policies right here.
Latest News
Will your travel insurance cover U.S. flight chaos? + MORE Nov 12th
As the U.S. government shutdown leads to thousands of cancelled flights, some Canadian travellers find themselves caught up in the stateside travel chaos. But there’s a chance that even those who bought trip insurance might be left holding the bag. More than 8,300 departures south of the borde.... More »
Mortgage insurance calculator Jun 4th
CMHC insurance calculator
If you’re buying a home and have a down payment of less than 20%, you’ll need to purchase mortgage default insurance, also known as mortgage loan insurance or CMHC mortgage insurance (named after the Canada Mortgage and Housing Corporation, one of the three mort.... More »
Unique ideas for your last will and testament + MORE Dec 1st
When you write a will, it is your opportunity to ensure your final financial and other wishes are carried out by your executors. given how many people have no will at all, I am happy to see technology is making it easier to prepare and sign a will without having to leave home. But there are circumst.... More »
Tax Benefits of Health Insurance Dec 6th
Personal Health Expenses
In many cases health plan related expenses can be declared as tax deductible expenses when filing
taxes. This is true for both individual plans and employee benefit plans.
According to the Canadian Revenue Agency (CRA), the premiums for a private health insurance plan that
.... More »
What is landlord insurance? + MORE Sep 24th
Landlord insurance, true to its name, is a type of policy for people who rent out a room, an apartment or a house to tenants. Also known as rental property insurance, it has some key differences from home insurance—the biggest one being coverage for loss of rental income, in the event that your pr.... More »
What type of insurance does a home-based business need?
– moneysense.ca
Q. I am starting up a small business where I will manufacture, market and sell my own products online. I will use a room in my home as an office. What type of insurance do I need?
–Paul
A. Hi Paul. An insurance policy protects you against defined risks. Although I haven’t seen your home insurance policy, I would be surprised if the risks that you are covered for include things related to manufacturing operations.
You didn’t ask, but you may also want to look into what type of zoning your house has and whether the manufacturing that you are planning to do is allowed there. This is a particular type of zoning and it is different from zoning for regular houses.
If the zoning for your home does not allow for the manufacturing you intend, you won’t likely be able to get insurance to do that covers you for manufacturing, either.
In any event, you should call up your home insurance broker and ask what insurance is available for a home business such as yours—either through your home insurance or another insurance product…
–Paul
A. Hi Paul. An insurance policy protects you against defined risks. Although I haven’t seen your home insurance policy, I would be surprised if the risks that you are covered for include things related to manufacturing operations.
You didn’t ask, but you may also want to look into what type of zoning your house has and whether the manufacturing that you are planning to do is allowed there. This is a particular type of zoning and it is different from zoning for regular houses.
If the zoning for your home does not allow for the manufacturing you intend, you won’t likely be able to get insurance to do that covers you for manufacturing, either.
In any event, you should call up your home insurance broker and ask what insurance is available for a home business such as yours—either through your home insurance or another insurance product…
