Have you been working or thinking of working on a side hustle? Perhaps you’re drop shipping products on Amazon, podcasting, driving UBER, or renting out your spare room on Airbnb outside of your full-time job? Whatever your side hustle is, it’s important to understand the risks involved and take steps to protect yourself. One of the best ways to do this is by getting insurance. In this blog post, we’ll explore why insuring your side hustle in Quebec is so important and what you need to know to get started.

Different Types of Side Hustles

If you’re earning money outside of your full-time job, you have a side hustle. Here are a few examples of common side hustles:

• Freelance writing
• Graphic design
• Photography
• Pet-sitting
• Tutoring
• Babysitting
• Landscaping
• Home renovation services
• Catering
• Personal shopping
• House cleaning
• Web design
• Social media management
• Event planning
• Car detailing
• Delivery services
• Music lessons
• Personal training
• Consulting services
• Airbnb hosting
• Ridesharing
• Food truck operations
• Handmade crafts sales (e.g. Etsy)
• E-commerce sales (e.g. Shopify, eBay, Amazon)
• Blogging
• Podcasting
• YouTube content creation
• Online teaching/tutoring
• App development
• Computer repair services
• Translation services

When Should You Consider Insurance?

So, when should you start thinking about insurance for your side hustle? The answer depends on your individual situation, but a good rule of thumb is to consider it as soon as you start earning significant income from your side hustle. This will help you protect yourself from potential financial loss due to accidents, damage to property, or other incidents that may occur while you’re working.

Risks Involved in Running a Side Hustle

The risks involved in running a side hustle can vary widely depending on the nature of your work. For example, if you’re driving for a ridesharing service, you may be at risk for accidents on the road. If you’re selling products, you may be at risk for product liability issues if someone is injured by a faulty product. Even if you’re working from home, you could be at risk for property damage or theft.

Benefits of Insurance for Your Side Hustle

This is where insurance comes in. By getting insurance for your side hustle, you’re protecting yourself from potential financial loss if something goes wrong. This could include damage to your property, liability for injuries or accidents, or even legal fees if you’re sued. The biggest benefit of getting insurance for your side hustle is peace of mind. Knowing that you’re protected if something goes wrong can help you focus on growing your business and achieving your goals. Insurance can also help you build credibility with potential clients or customers who want to know that you’re taking your business seriously.

Insurance for Registered Businesses

Now, you may be wondering if insurance is only for registered businesses. The answer is no! Even if you’re not registered as a business, you can still get insurance to protect your side hustle. In fact, many insurance companies offer policies specifically designed for people who are working on a side hustle.

Legal Requirements for Your Side Hustle

In addition, some types of insurance may be required by law. For example, if you’re driving for a ridesharing service in Quebec, you’re required to have auto insurance that covers commercial use of your vehicle. If you run a business from home, it’s also mandatory to declare it to your home insurance provider. Even if your side hustle doesn’t have specific legal requirements, getting insurance is still a smart move to protect yourself and your business.

Getting Started with Insuring Your Side Hustle in Quebec

So, how do you get started with insuring your side hustle in Quebec? The best way is to talk to a broker who specializes in small business insurance. At LMBF, our team of experienced brokers can design a policy specifically for your side hustle.

Don’t wait until it’s too late – contact us today to learn more about how we can help you protect your business and achieve your goals.