Types of Rentals Covered
To be eligible for residential landlord protection insurance, your renters must have a 660 or higher credit score, or the rental cost must be less than 40% of the renters’ gross income. Once eligible, you can get insurance protection for any of the following:
- Long-term rentals (short-term rentals excluded)
- Whole house rentals
- Room rentals (including self-contained units with kitchen & bathroom)
- Student rentals
- Shared rentals – rooming house with 3 or more unrelated people living together (social housing excluded)
Rental Property Damage by Tenants
As a residential landlord you may face a number of risks including rental property damage by tenants. Huronia can offer you landlord protection insurance against the following:
- Property theft (or burglary by tenants or tenant guests)
- Vandalism and malicious property damage by tenants or guests
- Non-malicious or accidental property damage (including pet damage)
Insurance to Cover Unpaid Rent
At some point almost every residential landlord must deal with tenants that don’t pay their rent. With landlord protection insurance you can be covered for any of the following circumstances:
- Tenant fails to pay rent
- Failure to vacate the rental property
- If the property can’t be rented due to property damage by previous tenant
- If the tenant vacates without notice (or becomes deceased) before the term of the lease
- If there is a court order allowing the tenant to break the lease due to hardship
Whether you rent out an entire house, a suite in your home, a condo, or an apartment unit, being a landlord comes with certain risks. Get the landlord protection you need so you don’t have to pay “out-of-pocket” for unpaid rent or property damages caused by delinquent tenants.
About Huronia Insurance
For nearly three decades, Huronia Insurance Group has been servicing the insurance needs of residential landlords throughout Southern Ontario, from Barrie to Toronto. We also offer rented dwelling insurance and tenant insurance services.
For more information about landlord protection insurance for unpaid rent or property damages by tenants, please contact our Huronia insurance brokers at 1-866-955-8386 or send us an email. We look forward to serving you!
You can also inquire about landlord protection insurance through our online contact form.
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