Your extra income activities: what about insurance?
It's been on your mind for a while. You've been looking to earn some extra income and have decided to offer products, equipment or services on line, via platforms such as Uber, Airbnb or Turo. Or, you've decided to freelance and provide activities to help you make ends meet.
What about insurance?
- Offer your parking space during the day
- Pet day care
- Run errands
- Home-based IT services
With your car
- Grocery deliveries
- Medication deliveries
- Restaurant deliveries
Speak to your insurer or insurance broker first. Auto and home insurance policies are, in fact, designed to cover your personal property and activities. They don't cover activities that generate extra income.
Your policy will be adjusted to reflect your new activities, allowing you to carry on with your professional activities with peace of mind.
« Auto and home insurance policies are, in fact, designed to cover your personal property and activities. »
When your home or vehicle allows you to generate extra income, or is required as part of a new job, your insurance policy must be adjusted to integrate the coverage that factors in the associated risks.
Ride-sharing requires special provisions when it comes to insurance. In fact, a bespoke insurance product was designed to meet the needs of drivers. Check out our blog about ride-sharing for details.