Student Landlord Insurance
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What is student landlord insurance?
Student landlord insurance is a specialist type of cover for landlords who rent to students. It will protect your property in the event of perils such as fire, flood and theft.
With our extensive panel of insurers, we are able to include full accidental damage, malicious damage and landlord liability for up to 10 students sharing one property.
What does student landlord insurance cover?
You can tailor your landlord insurance policy depending on what you'd like to be covered for. The more cover you include, the higher your policy premiums will likely be. The different levels of cover you can choose from include:
- Buildings only
- Buildings & contents
- Contents only (not including your tenant's belongings)
- Fixtures and fittings
- Full accidental damage
- Loss of rent
- Alternative accommodation
- Property owner's liability
- Unoccupied property cover
- Legal protection
- Malicious damage caused by tenants up to a maximum of £5,000
- Theft by tenants up to a maximum of £5,000
- Malicious Damage & Theft By Tenants
- Trace & Access Cover (most policies)
- Landlord Legal Expenses
- Legal Expenses
Our expert says...
"When insuring a student property, the landlord must be aware of the type, number and names of the tenants that will be residing in the property. Also take into account the length of time the property may be unoccupied, as students usually go home for holidays and only reside in the property during term time.
What isn't covered?
Wear and tear will not be covered under any insurance policy and so regular maintenance and repairs are essential. In addition, will you need to be aware of the un-occupancy clause on your policy.
Here at CIA, we can offer a 60 day un-occupancy clause. This means that your property is fully covered for up to 60 days without tenants living there. Once this period has passed, the policy will remain in force, but the level of cover is reduced to major perils only. These perils are fire, lightening, impact by aircraft and in some cases subsidence.
You must also complete the required checks on the property and keep a record of these visits.
Compare landlord insurance for student accommodation
Getting the right cover is important to get peace of mind that your investment is protected, and it doesn't have to be expensive either. We compare buildings and contents insurance for student landlords to find you the best price.
Before taking on a student tenant, visit our advice centre to understand Right to Rent checks, assured shorthold tenancy agreements, and how to conduct a good screening check.
Do I need landlord insurance for student lets?
Students are higher-risk tenants since there are more people sharing the property and their tenancy is for shorter periods of time. When students move to university, it's often the first time they have lived independently. Therefore, they may be less aware of potential dangers and damage to the property.
It's not a legal requirement to have landlord insurance, although it is wise to take out cover to protect your investment. Insurers recognise that students are high risk so you may not be covered with generic landlord insurance. Therefore, take out a specialist student landlord insurance policy.
How much does student landlord insurance cost?
The cost of student landlord insurance will depend on the type, age and rebuild cost of the properties together with their locations.
The cost of student landlord insurance may be higher because students are a higher risk than other tenant types as they usually have a low income. You can get cheaper student landlord insurance by:
- Pay annually - Pay in one lump amount if you can afford it to avoid monthly interest building up.
- Know the worth of your student accommodation - Accurately work out the worth of your buildings and contents to ensure you are not over insured.
- Use the same provider for buildings and contents insurance - If you want to cover both the building and its contents, opt for the same provider. Having everything under one policy can be cheaper.
- Only make claims where necessary - Policy prices will increase as you make more claims, so consider your excess before you make a claim.
- Compare quotes - Compare different student landlord insurance policies to find the cheapest quote for your needs. CIA can do this for you.
How many student properties can I get insured?
If you're a landlord with multiple properties in the student rental market, we can help. You can get any number of student properties insured with CIA. It's easy to insure more properties to your policy if you ever expand your portfolio too and get a multi-property discount.
What should I do if the property becomes unoccupied outside of term time?
CIA offers a 60 day un-occupancy clause which fully covers your property for up to 60 days without tenants living there. After 60 days, the policy is still valid but the cover reduces to major perils such as fire, lightning, explosion, impact by aircraft and subsidence in some cases.
As a landlord, it's your responsibility to complete required property checks and keep a record of your visits.
Frequently Asked Questions
Advice Centre for Landlords
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