The most profitable way to make money from home is through the internet. The internet has opened opportunities for people from all walks of life and you don’t have to be a technical expert to join the online business world. Everyday people are buying and selling online all the time. Here are the top 3 ways to make money from home using the power of the internet.
1. Produce Your Own Information Product
An information product, generally available as an eBook, report or video course, is something that a customer can download instantly to their computer. An information product is a great way to make money from home online because once it is produced, you can sell it again and again
People who want the best information on a particular topic are willing to pay for it. They don’t want to spend a long time searching online trying to find it for free, when they can buy it instantaneously. You don’t have to be an expert to create an information product provided that you know more about the subject matter than your target audience. You can even outsource it somebody to produce it for you and then put your name on it.
2. Sell Other Peoples’ Products
You can sell a product that somebody else has already created. When someone purchases it from you, the product owner will pay you a commission. This business model is called affiliate marketing and is often the first method that people use when they want to make money from home. There are products and services that you can sell in just about every industry and topic that you can think about.
You don’t have to get involved with product development, payment programs, shipping or delivery as this is all done by the product owner. Your job is choose the best product for your audience and get prospective customers to visit the product’s sales page where they can purchase it.
3. Use Your Existing Skills
If you have expertise in an area that other people are willing pay for you use it to make money from home. This expertise can vary from creating graphics, language translation, internet design, marketing, sales, clerical, bookkeeping or financial services. In fact, anything that you would get paid to do in a conventional job. You don’t even need to build your own website as you can sign-up with freelance websites like Elance and oDesk who have thousands of customers looking for people with your skills.
It is important to understand the average home insurance cost and all the factors that impact it. On average, homeowners pay $780 for home insurance in Ontario but factors such as location, replacement costs, coverage and riders, such as flood or jewelry coverage, can have a major impact on the coverage. Renters can also purchase insurance, and the rates are generally cheaper for renters than they are for owners.
Although the market value of your home does not directly impact what you pay for insurance, it can give you an idea of what you can expect to see in terms of costs – or at least what you should plan and budget for. A home valued at under $300,000 usually sees an average cost in Ontario of $702 a year, and homes in the higher brackets, for example between $300,000 and $700,000, can expect to pay $1,000 (approximately $924) but again, the final numbers will include other factors.
The more expensive the home is, the more insurance you will pay, but this isn’t a reflection of market value. A more expensive home means a more replacement cost – or a home with more expensive items to protect. If your home falls in the $700,000 to $1.5 million range, it’s reasonable to see average insurance rates in Ontario hit the $1,400 mark annually, and $2000+ for homes in the $1.5 to $5 million range.
Provincial differences do exist
Coverage costs vary by province because each province has its own unique challenges. Average insurance in Ontario aren’t typically impacted by things like earthquake coverage but the same cannot be said of British Columbia, for example. In Canada, overland flooding is a separate area for insurance and insurers aren’t typically willing to cover this risk.
As an example, an average home insurance premium in Alberta is ~$900/year for homeowners. Quebec homeowners pay on average ~$840/year in home insurance costs.
Many variables define home insurance costs
There are several factors that can increase your home insurance rate and they are important to consider when purchasing a home. Such factors include fireplaces or wood stoves, swimming pools, oil-based heating systems, old wiring, commercial zoning, old pipes and poor / old roofing. Your garden and trees can have an impact too, since large trees pose a risk of falling on the home.
Also your claim history is considered when getting a home insurance policy. If you have a rich history of claims, some insurance companies may consider you to be a high-risk customer resulting either in higher premiums or refusal to issue an insurance policy.
Home insurance for tenants is 3 times cheaper
If you rent a home, you can benefit from lower home insurance costs since you do not need all the coverages that a homeowner would need. Typical tenant insurance policy would be covering your liability (e.g. if you flood people who live under your unit) and contents of your home (e.g. expensive electronics, items of art, rare collection items).
Average rental insurance costs in Ontario are $252/year ($21/month). Tenants insurance in other provinces would be comparable in terms of costs: $33/month in Quebec and $25/month in Alberta.
Alexey Saltykov is a co-founder and managing director of InsurEye Inc, a Canadian company that provides online tools for consumers to educate them about insurance, create transparency in insurance market place in Canada. We also connect consumer with insurance brokers Toronto and insurance brokers Mississauga and all across Canada.