Online renters' insurance for students and young renters

Students, newcomers to Canada and young renters pay the premiums. Insurers pay your commission.

You earn commission from the insurer on each new policy and each renewal. Many small policies add up slowly, so keeping costs and admin low is key.

• Clear, friendly writing
• Basic website and social media skills
• Patient customer service by email and phone
• Careful attention to detail

• Selling without the right provincial licence. Check rules in each province you plan to serve, as a licence usually covers only one
• Rules on advertising insurance and on disclosing how you are paid
• Anti-spam rules for email marketing and privacy rules for storing personal data
• Errors and omissions insurance, and who provides it
• Competition from large insurers' own online quotes, so decide what extra help you offer

Estimates suggest startup costs are typically around $800 to $3,000, depending on your website, marketing and who provides your errors and omissions insurance. You usually work under an established brokerage or agency.

Monthly revenue is typically estimated at around $300 to $1,500, depending on how many policies you place and how you stand out from insurers' own online quotes. Insurers pay your commission, not the renters.

Check the provincial licence for each province you plan to serve, as a licence usually covers only one. Also check rules on advertising insurance, disclosing how you are paid, anti-spam rules for email marketing and privacy rules for storing personal data.