FAQs Archive - Cayuga Mutual Insurance

Q: What is home based business?

When the primary office of the business owner is on the same property where he/she is residing, that type of business is a home-based business. The company can be of any size, and the business owner does not have to be the owner of the property.

Q: Is condo insurance mandatory in Ontario?

It is not mandatory to have condo insurance in Ontario. Home insurance is important to protect the condominium, house belongings, and homeowners' liability. Depending upon the living situation mortgage lenders will ask home buyers to have home insurance before providing a mortgage moreover, landlords also want their tenants to have condo insurance before permitting the tenants to move in.

Q: Will Homeowner’s Insurance Cover my home-based business?

The short answer is no, homeowner’s insurance alone is not adequate coverage for a home-based business. Likewise, a commercial insurance plan won’t cover certain problems that could arise related to your personal space and living.