The waiting period is the period that must elapse before your coverage actually begins and a benefit can be paid to you. This means that no default in payment or damage can be reported or compensated if it occurs within the first 60 days of your insurance contract (even if the default in payment or damage continues after that 60-day period).
The waiting period is 60 days:
- It begins on the start date mentioned in your insurance policy.
- The waiting period is renewed at each change of tenant, throughout the duration of the contract. - The start date of the new waiting period is the date on which the new tenant takes possession of the premises.
Losses incurred during the waiting period are not covered by the insurance policy.