April 17, 2014
2 minAs a landlord renting to students, you’re likely familiar with the seasonal downtime when your property might sit vacant during the summer months. Even with a 12-month lease, students often leave from May to August, paying rent while the house remains empty. This can present a unique challenge for student landlords, as traditional insurance policies often deny coverage if a property is vacant for more than a certain period of time.
At Humberview Insurance, we understand the specific risks that student landlords face. That’s why we’ve introduced the Seasonal Occupancy Clause as part of our enhanced coverage options offered one insurance company. Subject to certain conditions and deductibles, this clause allows student rental properties that are unoccupied for over 30 days between May and August to maintain coverage under their policy.
If you’re a student landlord in Ontario or are considering your insurance options, it’s important to understand the implications of vacancy on your policy. Speak with your current advisors or get in touch with us to ensure your property is fully protected.
*The Seasonal Occupancy Clause is available to qualifying properties.