Home Insurance Invalid So Long As My eBay Inventory Is Stored @ Home | Selling

hold.your.own.media · 2023-08-27T06:42:17.557000Z

Hey guys, So my gf saw this news article & an eyebrow was raised since TD Insurance denied their claim: https://www.insurancebusinessmag.com/ca/news/breaking-news/calgary-fire-leaves-family-homeless-due-to-insurance-loophole-447305.aspx We have TD as our insurance provider, so we opted to reach out to see if we would have a similar issue. My eBay business is not incorporated, though I do have a BN & GST number. I resell mostly used DVDs and Blu-rays. My entire inventory (~70 boxes; 3000-4000 items) was stored on our lower level. We have zero visitors, everything is shipped out. TD took a month to get back to us, and indicated that yes, our insurance policy is invalid so long as the inventory is at home. They have given us 30 days to rectify. I called TD about 10 days ago to see what options we had. I was hoping that I could keep the inventory at home, and we could have a separate policy for just the sole proprietorship of mine. They asked a bunch of basic questions, but had to halt when they asked how much of my sales were from the US. My answer was about 60%. They claimed that they cannot insure the inventory so long as I have over 50% of sales outside of Canada... Super weird. I may have gotten a different answer from a commercial broker, but felt I could still have an issue down the line. Today, I filled up a storage unit off-site (I work in the storage business for my 9 to 5 job, so was able to get a deal). I also setup a PO Box to aim to get my home address removed from the business side. The questions I have now:1) How many are aware of this, and have had a similar issue?2) With CRA's My Business Acct, I could only add the PO Box as a mailing address, so how can I remove my home address from being associated with the business with the gvmt?3) eBay also lists my home address, and will not accept the PO Box one as a primary (only mailing). Any way to have the home address removed? What I'd like to do is completely remove my home address from being associated with the business. I'd hate to have some form of issue down the line if ever we had to put in an insurance claim. Thanks!

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Home Insurance Invalid So Long As My eBay Inventory Is Stored @ Home | Selling | eBay Canada EN