Home-Based Business Insurance in New Brunswick
FCNB warns that home or tenant insurance generally does not pay claims related to a home-based business or business activities conducted in the home. The regulator advises declaring the business to the insurer and arranging appropriate business or commercial coverage.
What to know
Confirm the current contract, regulator guidance and WorkSafeNB status before applying this point to a specific business.
Confirm the current contract, regulator guidance and WorkSafeNB status before applying this point to a specific business.
Confirm the current contract, regulator guidance and WorkSafeNB status before applying this point to a specific business.
Confirm the current contract, regulator guidance and WorkSafeNB status before applying this point to a specific business.
Tell the insurer what the business does
Inventory storage, customer visits, professional advice, food production, tools or shipping can change the exposure. Disclosure should describe actual operations rather than simply saying 'work from home.'
Separate personal and commercial property
Identify which computers, tools, stock and furniture belong to the business. Personal-policy limits for business property may be restricted or excluded.
Consider the income dependency
If a fire or other covered loss shuts down the home workspace, damaged equipment is only one part of the financial problem. Business-interruption protection may be relevant depending on the operation and policy.
Verify the current New Brunswick requirement
Workers' compensation rules, insurance licensing and commercial policy wording can change. Use the primary source below before making a business decision.
FCNB — Business Insurance →