It's the period of time which must pass before your coverage can begin and an indemnity to be granted. It means that no claim can be filed and indemnified for a Loss that occurred and started during the first 60 days of Your Insurance Contract (even if such Loss continues after such first 60 days period).
The waiting period is 60 days:
- Beginning at the start date which is stated in your Policy Schedule.
- The waiting period shall start again if you change of tenant during the contract period. The start date of the new waiting period will be the first date on which the new tenant occupies the property.
Loss(es) which occur during the waiting period are not covered under this insurance policy.