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Saskatoon Home Based Business Insurance

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If you have a home-based business in Saskatoon, you are part of a growing, national entrepreneurial wave. According to Home Business Magazine, “micro-enterprises (firms with 1 to 4 employees) account for 54.1% of all private employers across the country, and most of these are home-based businesses.” More and more people are opting to hang out a shingle from their home – businesses ranging from consultants and copywriters to masseuses and personal trainers.

Establishing your business in your home can make for a more comfortable, stress-free environment. With all the technology options available today, setting up shop at home allows you to avoid the commute, the parking, and the cost of rental space. It’s a cost-effective and environmentally friendly way to do business. But don’t relax too much. Just because you’re doing business in a comfortable and familiar environment, it doesn’t mean you aren’t subject to the same risks that any business might face. Do you have enough insurance coverage should an unexpected loss occur?

Do I need Home-Based Business Insurance in Saskatoon?

Do you operate a business from your home? While business insurance is not mandatory by law, it can be an essential investment to protect your important business assets and operations. Essentially, Home-Based Business Insurance is coverage that protects you when operating a business from your personal residence.

Doesn’t my home insurance policy offer enough coverage for my home-based business?

One unfortunate mistake that many home-based business owners make is assuming that their home insurance would cover them if a loss were to occur. Typically, that is not the case. While every home insurance policy varies in coverage details, most policies exclude losses of a business nature. Home insurance covers your personal assets; Home business insurance covers losses related to business activities. Your home insurance liability would not cover one of your greatest sources of potential loss – business-related liability claims.

What are the risks that Home Business Insurance would cover?

Home Business Insurance can offer coverage for an array of potential events that could result in losses. Such events might include fire, equipment breakdowns, theft, damaged inventory, cyberattacks, or a delivery person who suffers an injury from a fall in your driveway. Liability is one of the greatest risks facing your home business. Other risks might be related to the nature of your business. Do customers visit your business? Do you have employees? Do you store credit card numbers or other personal or business data for your clients? These all pose risks.

What type of insurance do I need to protect my home-based business?

Home Business Insurance or Home-Based Business Insurance are policies specifically designed to cover losses for small business operating from home. They are pretty much like any other small business insurance in offering protection against potential business losses that might otherwise require you to pay out of pocket. That might be fine when it comes to small losses, but the cost of defense in a lawsuit or stolen inventory and equipment can be very costly and potentially ruinous. Personal liability on your home insurance policy would not cover business-related suits.

Depending on the nature of your business, there are various options we can suggest to guard against potential losses. For some businesses, an endorsement on your home insurance policy might suffice. But most frequently, we would recommend a Home Business Insurance package to cover equipment, stock, business interruption, legal expenses, and liability exposures. There are other coverages that you may want to add on, such as business vehicle Insurance or cyber liability coverage, for example.

What types of Saskatoon businesses are Home Business Insurance policies available for?

Home-based businesses are wide-ranging in nature and can vary in their insurance needs. Here is a sampling of home-based business types that we have insured. If you don’t see your business type, give us a call for a no-cost risk analysis discussion and a Home Business Insurance quote.

  • Consultants
  • Web design, social media, and IT professionals
  • Photographers
  • Marketers
  • Daycare providers
  • Accounting and bookkeeping professionals
  • Personal trainers and masseuses
  • Copywriters
  • Hair stylists
  • Interior decorators
  • Music teachers
  • Art and crafted goods producers
  • House cleaners
  • Virtual assistants
  • Dog walkers

How can I learn more about Home Business Insurance in Saskatoon?

You are an expert at your business, but you shouldn’t need to be an expert at insurance. Commercial coverage can be complex and not all that easy to understand. That’s where AGI Insurance comes in. We are licensed, Home-Based Business Insurance brokers in Saskatoon. Our friendly, knowledgeable professionals are experts at helping you secure the coverage that is best for your unique Home Business Insurance needs.

We partner with Saskatchewan’s best insurance companies, so we can source Home Business Insurance that’s right for your risk profile.  We invite you to give us a call or set up a time in our conveniently located office to meet us and to learn why so many businesses both large and small, have put their trust in us over the decades. We are delighted to offer no-obligation Home-Based Business Insurance quotes to our Saskatoon neighbours!

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Did You Know

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Do You Belong Here?

Yes, if you own one or more restaurants or food service businesses and you want a plain-speaking, knowledgeable, independent broker who takes the time to listen and understand your needs. AGI Insurance has the expertise to know your business exposures. We’ll be there for you when you need us most!

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