Their view might be that students pose a greater risk than, say, your typical working professional. Whilst this is a bit of a sweeping statement, and an attitude that the insurers ought to reconsider (not all students are up all night partying with the whole street in their house!), the fact remains that it can be difficult to get student house insurance.
Some landlords rent their properties to a small amount of students, whereas some convert their properties so that every room is a ‘mini bedsit’ with its own lockable door, allowing them to accommodate more students.
Unfortunately, many property insurers won’t quote for this type of let property. Having said that, there are insurers out there that are more than happy to consider student lets, and it’s really important that landlords do get the right property insurance policy, as taking a policy that is not based on the correct information or type of tenants could be invalid.
What’s in a student property insurance policy?
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
If you need student property insurance, its 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.