I recently helped a company get Insurance for their Student Let property.
They were experiencing some difficulty in getting Insurance for the building, partly because it was going to be let to students and in part because it was currently unoccupied.
I’m pleased to say we managed to organise cover for them at a competitive price, which isn’t always easy with Student and/or empty properties!
What Student Let Insurance covers
Each policy we arrange is designed to meet the specific needs of the client, but typically you can get the following cover under Student Let Insurance:
- Property Owners Liability
- Loss of Rent
- Alternative accommodation
- Legal Expenses
- Employers Liability
- Directors and Officers Liability
- Emergency cover
What to look out for when buying Student Let Insurance
There are lots of things to be considered when buying Student Let Insurance, and ideally you should work with a specialist who can guide you.
Here are a few things to keep in mind when looking at Student Let Insurance quotes.
- Does the Insurer know your property is occupied by Students? – it sounds absurd, but I’ve seen lots of policies that assume the tenants are working professionals!
- Is any part of your property unoccupied? Your Insurers will want to know this.
- Have you correctly estimated your rental income? – it’s important to consider this so that your Loss of Rent cover is adequate.
- What (if any) cover do you have for Malicious Damage by tenants? – this cover is not always provided, and when it is, it is often limited. This might not concern you, but make sure you understand what cover you’re getting for your money.
Dan is a real professional when it comes to insurance and his knowledge is second to none. Unlike most other insurance companies that I’ve dealt with, Dan treats you like an individual and really does go that extra mile in meeting your insurance needs.