Written and reviewed by Hafsa Bashir, Principal Broker at HIFA
RIBO licensed · Principal broker at HIFA, working with owner-operated businesses and the families behind them across the western GTA.
Last reviewed June 2026 · 3 min read
Insurance is not something you buy once. Policies describe your circumstances at a point in time, and they only keep working if the description stays true. These are the moments worth a call.
Renovating
Major renovation increases the cost to rebuild your home, and if you vacate during the work your policy may require a vacancy permit. Standard policies restrict coverage during significant construction, so this needs arranging before work starts rather than after.
A change in how you drive
Auto premiums are rated heavily on usage. Moving to permanent remote work, or taking a job with a long highway commute, both change the position. An undisclosed and materially longer commute can create difficulty at claim time.
Major purchases
Home policies carry internal limits on jewellery, art, bicycles and collectibles. Valuable items usually need to be scheduled individually to be fully covered.
Starting a business at home
A personal home policy provides very limited coverage for business equipment and effectively none for liability to business visitors. If you begin operating from home — including running an online shop — tell your broker so the appropriate endorsement or a separate commercial policy can be arranged.
Moving, or buying a new build
Insure a home for what it costs to rebuild, not what you paid. The purchase price includes land; the rebuild cost reflects current construction and labour prices, which have moved sharply in recent years.
Coverage availability, eligibility, limits and pricing vary by insurer and individual circumstances. Information on this website is general and is not a substitute for reviewing policy wording or speaking with a licensed insurance broker. Nothing on this site binds coverage or constitutes an offer of insurance.