Student Housing Insurance

[AdamBlackmore]

Hello all,

I was wondering if there were any recommendations for a good insurance company/broker for student rental housing. It is a 4 bedroom house in Guelph.

I keep hearing people paying $600-$700 for similar places being rented to students, but just got a quote for $1500.

Is this the "student" factor? Perhaps those paying $600-$700 did not disclose the tenants would be students. Can your insurance can be void if you do not disclose they are students or does it matter?

I close shortly and need to get this done asap, any help would be very appreciated!!

Adam

 

[LukasWywrot]

Hi Adam,

I personally have not seen insurance rates so low for student housing. Most likely these poeple did not disclose that the building will be rented out to students and the insurance can be voided that way. If you have more than 3 unrelated parties living in the house you will need student rental insurance.
HUB provides student rental insurance and it should run you ~1000 - 1400 for the year.

Give Philip G. Jarvie a call and he can help you out.

Tel: 905-847-5500


Regards,

Luke

QUOTE (AdamBlackmore @ Mar 30 2010, 08:59 AM) Hello all,

I was wondering if there were any recommendations for a good insurance company/broker for student rental housing. It is a 4 bedroom house in Guelph.

I keep hearing people paying $600-$700 for similar places being rented to students, but just got a quote for $1500.

Is this the "student" factor? Perhaps those paying $600-$700 did not disclose the tenants would be students. Can your insurance can be void if you do not disclose they are students or does it matter?

I close shortly and need to get this done asap, any help would be very appreciated!!

Adam

 

[AdamBlackmore]

Luke,

That is what I suspected, that many simply did not disclose they are renting to students. Hence, the low prices. Thanks for the contact, I`ve heard of HUB being recommended before.

Thanks,

Adam

 

[housingrental]

I`ll second Lukas post
I`ll add contact Van Allen insurance in Listowell. Generally they`re the one to beat for insurance rates on student properties.


QUOTE (LukasWywrot @ Mar 30 2010, 12:34 PM) Hi Adam,

I personally have not seen insurance rates so low for student housing. Most likely these poeple did not disclose that the building will be rented out to students and the insurance can be voided that way. If you have more than 3 unrelated parties living in the house you will need student rental insurance.
HUB provides student rental insurance and it should run you ~1000 - 1400 for the year.

Give Philip G. Jarvie a call and he can help you out.

Tel: 905-847-5500


Regards,

Luke