If you have ever rented out your Property to Students, you may have found that when you came to insure your Property, some Insurance companies were not keen on covering Student Let properties.
The Insures view could be that Students can be seen as more of a risk than the average working professional. This is a loose statement, and maybe an attitude that should be reconsidered by the insures, as not all Students are up all night partying.
Landlords have different ways of how they like to do things, some only let out their Property to a small amount of Students. Others may convert their Property so that each room is a small bedsit with its own lockable door, which will allow them to accommodate more Students.
Sadly, many Property Insurers won’t quote for this type of Let Property. Having said that, there are of course Insurers that are more than happy to consider Student Lets, and it’s key that Landlords are getting the correct Property Insurance policy, as having a policy that is not based on the correct information or type of tenants could be invalid.
What can a Student Property Insurance policy cover?
A typical Property Insurance policy for Students can include:
- Buildings Insurance
- Contents Insurance
- Loss of Rent Insurance
- Alternative Accommodation
- Property Owners Liability
- Landlords Legal Expenses
- Tenant Disputes
- Rent Recovery
Speak to a Property Insurance Broker
If you are in need of Student Property Insurance, it’s definitely worth speaking to a Property Insurance Broker, who can approach a range of Insurers that quote for Student Lets and will be able to ensure you get the right policy to meet your requirements for a competitive price and answer any questions you may have.
In the unfortunate event that a claim is made, a Property Insurance Broker can help fight your corner.
Contact us for a no-obligation quote and review. We are more than happy to help with any questions you may have, you can chat to us live through our Live Chat, or call us on 01708 289525.