Owner-occupied coverage should not be assumed to cover a rental use. The insurer needs accurate property, occupancy, tenancy, vacancy, renovation, claims, strata, and short-term-use facts before confirming terms.
Decision points
- 01
Describe the actual use and occupants.
- 02
Compare rental-income and additional-expense coverage explicitly.
- 03
Match unit coverage to the current strata deductibles and policy.
Build the disclosure file
Provide the property type, construction, systems, tenancy, owner occupancy, vacancy periods, rental duration, suites, renovations, claims, security, utilities, and any strata information requested. A material assumption can change coverage.
Compare more than premium
Normalize limits, deductibles, exclusions, water and earthquake terms, liability, rental-income interruption, vacancy conditions, unit improvements, loss assessment, claims handling, and cancellation terms before comparing price.
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