Home-Based independent insurance agent

The insurance company pays you commission. Clients pay premiums to the insurer. Your clients are families, self-employed people, new Canadians, and small business owners, often reached through your own network.

Commission on new policies, plus smaller renewal commissions on many products as clients keep their cover. Income usually starts slowly and grows as your client base builds.

• Explaining complex products in plain language
• Sales and relationship building
• Careful record keeping and follow-up
• Honesty and attention to client needs

• Licensing is set by each province or territory (and Quebec has its own regulator and French-language rules), so check your provincial regulator
• Errors and omissions insurance is usually required, so check what your brokerage or MGA provides
• Commission is not guaranteed, and some contracts include chargebacks if a client cancels early, so read the terms
• Rules on privacy, advice and client records apply, so check what your regulator expects
• Check whether your municipality requires a home-based business licence

Startup costs are typically around $1,500 to $6,000, depending on your licensing, insurance and home office setup. These are estimates, so check what a brokerage or managing general agency provides before spending.

Monthly revenue is typically estimated at around $1,000 to $5,000, depending on the policies you place and the commission terms. Commission is not guaranteed, and some contracts include chargebacks if a client cancels early.

Licensing is set by each province or territory, and Quebec has its own regulator and French-language rules, so check your provincial regulator. Also check errors and omissions insurance, privacy and record rules, and home-based business licensing.