Landlord Insurance for Student Lets | Everything you need to know

Student rental properties can be a lucrative investment opportunity for landlords, whether you own one or you are a multi-property landlord with a larger portfolio. After all, having fun living at university-provided or private sector ‘halls’, many students in the UK opt to rent residential properties on the private market from private landlords.

In the 2021-2022 academic year, the largest number of students, 598,000, occupied ‘other rented accommodation’, in other words, private rental properties from landlords. So, there most definitely is a vibrant market for it if you are thinking about investing in private rental properties with student tenants.

We are a specialist landlord insurance brokerage with relationships with providers offering comprehensive student landlord insurance at competitive rates. We know a thing or two about student landlord insurance and why you need it. So, here’s our take on everything you need to know.

What is student landlord insurance?

It acts as a specialist type of insurance cover for landlords who rent to students. This insurance designed to protect your property from a long list of perils, which we take a closer look at later on.

Why do landlords need specialist insurance for student lets?

Being a landlord can be a business venture that allows you to generate healthy stable profits. But having landlord insurance in place is essential to protecting your investment as a landlord.

Students can sometimes get a bad rap, nevertheless, and incidents do happen. As a result, it is sensible to be cautious and cover your back with specialist student landlord insurance, just in case any damages occur.

Don’t forget, you need to bear in mind that university is often the first experience for young people living independently away from their families.

What does student landlord insurance cover?

You may be wondering what exactly it will give you cover for. Here we go into the different components.

Building insurance

Damaged property can be a frequent issue for landlords, and covering rebuilding and repairs can be pricey, and it will eat into your rental income and yields. Guard against these hefty payments by taking reliable cheap landlord building insurance with CIA.

However, don’t forget that it is your responsibility to take care of footing the bill for any reasonable wear and tear of the property, not the tenants.

Our building insurance will cover your rental property for fires, as well as extreme weather events, such as storms and flooding.

If your student property happens to be part of a historic or listed building, you will be glad to hear that we also offer listed buildings insurance coverage at CIA Landlords.

Contents insurance

Have you decided to furnish the place for tenants? Having things like sofas, tables, beds, desks, and white goods already in place can certainly make you appeal to a wider pool of student tenants. If you have furniture, you 100% need to protect your furniture and belongings with contents insurance. At CIA, we have 20+ years of successfully providing robust landlord contents insurance.

Just remember that contents coverage as part of a landlord insurance package only covers items you have bought for the property and not tenants’ private possessions. If tenants have bought personal items like personal laptops, mobile phones, or bicycles to your property, they need to separately take out their own private contents insurance policy.

Malicious damage

Sadly, malicious damage or vandalism can sometimes be caused by tenants. You can evict tenants for being responsible for malicious damage to your student rental property under ‘deterioration of property’.

If your property has fallen victim to malicious damage, you should notify the police and request a Crime Reference Number. It is also sensible to take photographs and/or videos of the damage.

Student landlord insurance policies with CIA can cover malicious damage by tenants.

Property Owners Liability

You need liability insurance just in case your student tenants try to file a lawsuit against you as their landlord. Fortunately, this liability insurance is included when you take out student landlord insurance with CIA.

Lost rental income

Your property becoming uninhabitable at any point is a student landlord’s nightmare. Student landlord insurance provides you with cover for lost rental income should your home become uninhabitable due to an insured peril

Compare quotes

Of course, a major factor dictating the cost of landlord insurance is the location of your property and the going premium in the area. It is always a good idea to compare prices for student landlord insurance policies. You can compare student landlord insurance prices by getting a quote from us at CIA Landlords.

Trust the specialists

You can trust the specialists here at CIA Landlords to ensure you get the right bespoke student landlord insurance policy for your needs.

Interested in having student landlord insurance you can rely on? Get in contact with CIA Landlords today.