Student Landlord Insurance

What is student landlord insurance?

Student landlord insurance is similar to other landlord property cover, but it’s geared towards the unique risks of renting property to students. These include more tenant turnover, a higher likelihood of accidental or malicious damage, and longer periods where properties are unoccupied. Landlord insurance for student tenants works to protect your interests as a landlord while renting to this specific demographic.

Who needs student landlord insurance?

If you rent to students in any capacity, this is likely the policy for you. There are multiple scenarios where a landlord may need landlord student insurance. Here are some examples:

Private landlords

Anyone who lets to students in university towns or cities.

HMO landlords

HMOs, which house multiple students in one property.

Portfolio landlords

Those with multiple student houses who want their interests covered under one policy.

Landlord offering furnished accommodation

You may want to insure the contents and furniture you own.

Landlord with unoccupied properties

During holidays, students typically go home to their families. Unoccupied homes are a higher risk and need specialised coverage. This insurance can offer cover for this.

What do I need to insure a student property?

For quick access to landlord insurance student quotes, you’ll need to have some information ready.

Property information

Address, type of house, number of bedrooms, furnished or unfurnished.

Ownership details

If you have outright ownership or have a mortgage. This is important because some lenders require landlord insurance.

Occupancy

Number of students, joint or individual tenancy type, and any unoccupied periods.

Security features

This includes safety locks, alarms, CCTV, or any other insurance-approved security measure fitted to the property.

Claims history

Any previous claims must be declared. It includes the number of claims, the type of claims, and the value of the claims.

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What does student landlord insurance cover?

Policies can differ between insurance providers, but in general, specialist student landlord insurance can include a combination of protections. You can choose the level of cover you need. When taking out landlord insurance for student lets, it can be best to start with basic core coverage, and take additional cover as you need it.

Buildings insurance

Building insurance protects the structure of your property against fire, floods, or other types of accidental or malicious damage.

Contents insurance

Furniture, appliances, and fixtures owned by the landlord are covered by contents insurance. The students will need their own contents insurance to protect their belongings.

Liability insurance

If someone is injured or their property is damaged in your student let, and you’re found legally responsible, you’ll be covered. Liability insurance typically pays for legal fees and compensation costs.

Loss of rent

If your property becomes uninhabitable because of an insured event, you can be covered for the loss of rental income during the downtime.

Alternative accommodation

You’ll be covered for the additional costs when an insured event means your tenants need alternative accommodation while the property is being restored.

Optional extras

These are not necessarily included in all policies and can be taken out at an additional cost.

Accidental or malicious damage by tenants
Unoccupied property cover
Legal expense cover
Rent guarantee
Home emergency cover

What affects the cost of student landlord insurance?

The cost of this insurance is determined by your risk profile, which is influenced by several factors.

Property type and size

Properties with more bedrooms, HMOs, or older buildings typically cost more to insure.

Location

Your postcode helps insurers determine how much to charge you for your location. Properties in high-crime or flood-prone areas cost more. Properties with subsidence issues, too.

Rebuild cost

Insurers are interested in the cost of rebuilding your property from scratch. Higher costs translate to higher premiums.

Tenant profiles

Students are generally considered higher-risk tenants than professionals or retirees. You could be charged more for student lets.

Level of coverage

The more you insure, the more you’ll pay. Comprehensive policies typically cost more than basic coverage.

Claims history

Your premium goes up when you make a claim. Maintaining a clean history helps keep costs down.

Security measures

The more security features your property has, the lower your risk of theft or malicious damage. This could come with a discount on your premiums.

Unoccupied periods

Unoccupied properties are considered a higher risk. Properties left empty during holiday periods may need extra cover.