With the number of students in the UK entering into higher education growing dramatically year on year, the demand for off-campus accommodation is exponentially expanding. This means that now more than ever the student market is becoming a lucrative and important one. Firstly student tenants are, on the whole, not as bad as their reputation states and secondly most students will look to rent a property for a minimum of 12 months, meaning there is less stress for you as a landlord finding new tenants. Additionally, it is worth noting that some insurance providers offer discounts if you rent to students.
At Goldcrest Insurance, we have been witness to the student market having become a brilliant long term investment option and understand the importance of protecting your investment. We offer a range of bespoke policies for all landlords whether you let just one property or a portfolio. As demonstration to our commitment to being the most genuinely helpful insurance broker, we use a range of A-rated insurance companies to provide you with the correct and best cover available, as quickly and efficiently as possible.
HMO Insurance for Students Lets
In addition to providing a wide range of policies and a long list of A-rated insurers, we at Goldcrest, as part of our commitment to our clients and future potential clients, would like to remind those looking to let student properties that; if you plan to rent to a group of students who are all sharing the facilities of the property– you may require an HMO licence. (HMO = House in Multiple Occupation).
For more information on HMO’s please see the link below:
https://www.goldcrestinsurance.com/hmo-insurance/
Cover available for properties let to students can include:
• Buildings
• Landlords Liability
• Loss of Rent
• Landlords Contents
• Accidental Damage
• Alternative Accommodation
Buildings
Unlike a lot of Insurance brokers we can provide buildings cover to all and are not contingent to the price or type of the building. This will protect you for the full rebuild cost of your student let property.
Cover can protect you against a wide range of risks such as:
• Fire, smoke and explosions (All conflagrations)
• Lightning, earthquake, storm or flood
• Burst pipes and water leaks
• Theft, malicious damage or vandalism
• Vehicle collision
• Subsidence, landslip or heave
• Damage caused by falling trees, telegraph poles etc.
• Cost of alternative accommodation
NB: It’s important to remember that the rebuild cost (including the cost of any professional fees) of the property is not the same as the market value or the price that you paid for the property.
Landlords Liability
We provide cover up to £5 million upon request, which will protect from prospective lawsuits in the event of:
• Injury
• Death
• Damage to the property as a result of ownership of your property from; tenants, visitors or anyone else on or near your property
For more information on Landlords liability follow the link below:
https://www.goldcrestinsurance.com/landlords-liability-insurance/
Loss of Rent
Again whilst many Insurance Brokers will only provide 12 months of cover up to 20% of the buildings sum insured, at Goldcrest we are able to extend this cover to 36 months.
Landlords Contents
At Goldcrest we pride ourselves on being able to provide a more expansive range of cover, and this does change in terms of Landlord’s contents cover is available up to any price required. The cover is tailored to protect the landlord’s contents in the student let property against unforeseen risks such as:
• Fire, smoke and explosions
• Lightning, earthquake, storm or flood
• Burst pipes and water leaks
• Theft, malicious damage or vandalism
• Vehicle collision
• Subsidence, landslip or heave
(Landlord’s contents include items such as drapes, carpets, beds, white goods or other furnishings and appliances)
NB: To avoid extra risk each student should take out insurance for their own personal possessions.
