Student Rental House Insurance

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Student Rental House Insurance for Landlords

Being a landlord is a tough task, getting student rental house insurance shouldn’t be. At Humberview Insurance, we understand the unique needs of landlords with student tenants. That's why we've crafted an exclusive insurance program tailored specifically for student rental properties. Serving landlords throughout Ontario, we're here to ensure your investment is protected. Ready to simplify your insurance experience? Complete our application, send us an email, or call us today to discuss your specific needs for student rental house insurance. We're here to make it easy and efficient for you.

Standard House Insurance For a Student Rental

Student Rental Building Insurance

This coverage protects the physical structure of your student rental home including walls, roof and built in fixtures against damage from events like fires. Coverage can be on a named perils or broad form.

Student Landlord Legal Liability

Legal liability coverage is crucial for landlords, providing protection in cases where they are held legally responsible for injuries or property damage stemming from their ownership of the student rental property.

Please note that each home is unique, and the specific coverages it may qualify for can vary. To fully understand the extent of coverages applicable to your property, it is crucial to consult with a licensed Home Insurance Broker. This professional guidance is invaluable in determining what is and is not covered under your policy.

Additional Student Rental Property Insurance Coverages

Loss of Rent

Provides coverage for lost rental income if a rented part of your home becomes uninhabitable due to a covered claim.

Sewer Backup

Provides protection against damage caused by the backing up or overflow of sewers, drains, or sump pumps.


Refers to as the rising of a body of water such as river or lake. Not to be confused with pipe burst or overland water.


Offers coverage for damage caused by an earthquake, which is not typically covered under standard home insurance policies.

Replacement Cost

Replacement cost coverage ensures that in the event of a loss, the insurance will cover the cost of rebuilding or replacing the rental property up to the specified limit, without factoring in depreciation. It is not available for every property, especially older properties without updates.

Most student rentals are written on what is reffered to as a “commercial policy” as such some important coverages may not be available such as overland water, service line, claim protector, guaranteed replacement cost and others. Speak to a qualified insurance broker regarding risk management, exposure and available coverages.

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How Student Rental Insurance Rates Are Determined


Rebuilding Cost of Property

Rates depend on the estimated cost to rebuild the rental property, considering materials, size, and location.


Extra Coverages

Choosing additional protections such as rental income or sewer backup.


Claims History

A history of previous insurance claims can lead to higher rates due to perceived increased risk.


Qualifying Discounts

Eligibility for discounts such as safety features or bundling policies can significantly reduce insurance rates.

Ways to Save on Insurance for Student Rentals in Ontario


Modernizing key aspects like roofing, electrical systems, plumbing, and heating to current standards can attract more insurance companies to quote.

Add Another Property

Bundling multiple properties under a single insurance policy can result in discounts. Insurance providers often offer reduced rates for customers insuring more than one property, as it simplifies management and increases their business.

Renew with the Same Insurer

Loyalty to the same insurance company can lead to savings. Insurers often reward long-term customers with discounted rates or loyalty bonuses, as a way to encourage continued business.

Claims-Free Record

Maintaining a claims-free history demonstrates lower risk, which can qualify you for reduced insurance rates. Insurers view a lack of past claims as an indicator of responsible management, potentially leading to favorable pricing.

Tips for Student Rental Landlords

List with University Directories

Each university has an off-campus section to their website. This section will usually contain a space to advertise directly to tenants or provide a third party website where to do it. This will be the best place to list your student rental property.

Make a 12 Month Lease

Many students are only in school for 8 months and landlords might gear the lease to that. But many students stay over the summer time to take extra courses or to visit the property throughout the year. Having a 12 month lease will decrease turnover.

Provide a Renovated Space

Student rentals have a stereotype that they don’t have to be nice, believe it or not having a space which is freshly renovated with quality and durable materials will attract better tenants and higher rents.

Are you a seasoned student rental landlord? Let us know what some of your tips would be.

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Student Rental Property Insurance Unique to your property

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Did You Know About the Student Rental Housing Market in Ontario?

Ontario, Canada's most populous province, is not only diverse in its regions but also in its student housing market, catering to a large student population across various colleges and universities. Here’s an overview of popular areas, schools, and student housing considerations in Ontario

Southern Ontario: Vibrant Student Communities


Home to the University of Toronto, Ryerson University, and OCAD University, Toronto offers a range of student housing options from high-rise apartments to shared Victorian-style homes. The student population is significant, with UofT alone hosting over 90,000 students.


A hub for post-secondary education with the University of Waterloo and Wilfrid Laurier University, known for its high student population and student-centric rental properties.


Hosts the University of Toronto Mississauga campus, with modern rental properties and townhouses popular among students.


Known for McMaster University and Mohawk College, this area has a blend of residential homes and apartment buildings catering to its over 30,000 students.

Eastern and Central Ontario: Academic Hubs with Historic Appeal


Home to Queen's University with a strong student community, featuring historic homes and new apartment complexes.


Canada's capital city, hosting the University of Ottawa and Carleton University, offers a mix of urban and suburban student housing options, including historic townhouses and modern apartments.


Known for Trent University, offering a mix of traditional homes and new developments for students.

Southwestern Ontario: Diverse Student Populations


With Western University and Fanshawe College, London has a vibrant student community, offering a range of housing options from historic homes to modern apartments.


The University of Windsor adds to the city's diverse student housing market, from older residential homes to new developments.

Northern Ontario: Unique Student Housing Needs


Laurentian University students find housing in modest homes and apartments, adapted to the northern climate.

Thunder Bay

Lakehead University offers a mix of on-campus and off-campus housing, including apartments and traditional homes.

Niagara Region and the Golden Horseshoe: Student-Friendly Areas

St. Catharines

Brock University influences the local housing market, with a mix of historic homes and modern student apartments.

Oakville and Burlington

Close to McMaster University and other institutions, these areas offer suburban student housing options, including townhouses and detached homes.

In each of these regions, the student rental market is shaped by the presence of academic institutions, influencing the types of properties available and the specific needs of student tenants. Landlords in these areas often tailor their offerings to cater to student lifestyles, including furnished properties, flexible lease terms, and proximity to campuses and amenities. Understanding the nuances of this market is crucial for success in the student rental housing sector in Ontario.

FAQs for Student Rental House Insurance

  • What is Student Rental House Insurance?

    It’s a type of insurance for properties when the properties are rented out to students, typically in post-secondary schools such as universities and colleges. It can also include when the property has more than one unit, where at least one unit is rented to students.

  • Why is it Different From Regular Rental Property Insurance?

    “regular” rental property insurance is typically for single family occupancy or when a property has units occupied by single families, couples or a single individual. Most standard insurance companies that provide “regular” rental property insurance do not provide coverage for properties rented to students. Humberview Insurance has a specific program for landlords that rent to students.

  • What does Student Rental Insurance Typically Cover?

    Coverage can include property damage to the main structure, liability protection and additional coverages such as loss of rental income after a covered claim as well as others. The building coverage can be what on a broad form type of policy or for older properties may be on a named perils form. Speak to a qualified insurance professional to learn the difference.

  • Is Student Rental Insurance Mandatory?

    While not legally mandatory, it's highly recommended due to the unique risks involved in renting to students. Your mortgage company will ask for proof of insurance to fund your property. Furthermore, having specific insurance that takes into account your property’s exact occupancy is important. By not disclosing your property’s true occupancy can result in denied claims.

  • How Much Does Student Rental Insurance Cost?

    Although, it can typically be more expensive then let’s say a single family occupied property, the price is usually competitive while providing coverage for unique exposure of student housing.

  • Can Students Get Their Own Renter's Insurance?

    Yes, there are specific insurance companies that will offer student tenants insurance. Its important to mention standard tenants packages may not offer students coverage and its important the tenants disclose their rental situation with roommates. Furthermore, if you are renting to students with parents in Ontario, their parent’s policy may extend liability – you would have to ask them for proof of coverage as well as confirming that liability is extended.

  • Can I Get Cheaper Student Rental Insurance By Having 1 Lease?

    This is a common misconception. Many people on online forums or hear from their friends that by having 1 lease they can avoid having student rental insurance and get “regular” rental property insurance. This is FALSE. The number of leases do not matter for insurance purposes. What matters is the exact and true occupancy of the property.

  • Can I Rent Out To Other People With Student Rental Insurance?

    You need to always disclose to your insurance company the exact occupancy of the property. Always call your insurance company or broker before the occupancy changes. Typically, student rental insurance is for properties rented primarily to students. If the property is occupied by working people, people who have just graduated or a mix of students and others this may require a rooming house insurance policy, which is now different then student rental property insurance. These FAQs provide a basic understanding, but it's important not to rely on this information for your situation. Always speak with a licensed Insurance agent or broker to make informed decisions.

  • Can I Renovate The Property With a Student Rental Policy?

    Always speak to an Insurance Broker or licensed professional regarding your situation. If you plan on doing renovations to your student rental – this is a great idea, but it may require a renovation policy while renovating before a student rental policy.

  • Which Insurance Companies Insure Student Rentals?

    There are a few insurance companies that insure student rentals. Companies such as Lloyds of London which provide coverage typically through intermediaries referred to as MGA’s (managing general agents). As well as some Canadian insurance companies; Humberview Insurance Brokers has a specific student rental insurance program with a Canadian insurance company for properties that qualify.

  • Why is Vandalism By Students Usually Excluded?

    Vandalism is often excluded from most rental property insurance policies due to its preventable nature. Property owners are generally expected to take measures like checking in on the property to mitigate this risk. Additionally, vandalism, being a frequent and intentional act, poses a high risk for insurers. Unlike unpredictable natural disasters, the intentional damage caused by vandalism is more controllable, leading insurers to exclude it from standard policies.

  • Can Students Share Rooms?

    Our student rental insurers strictly prohibit the sharing of rooms by students. This measure is in place to prevent overcrowding, which can escalate risks and lead to serious consequences during emergencies.

Ready for a Quote on Ontario Student Rental Property Insurance?

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