Student let buildings insurance is a needle in a haystack when trying to find good quotes. We have been insuring HMO’s for over 20 years now and have all the providers to make insurance a lot more affordable. Students are usually rated as double the risk when compared to Professional tenants in the HMO insurance market. They have parties, go out get drunk, come home leave ovens on, or go out and leave portable radiators on for days at a time, smoking in rooms and cigarette butts falling on the floor, the list goes on. Students are grown up kids who are letting lose for the first time, so anything could happen.
At Goldcrest Insurance we have managed to negotiate some cheap student let building insurance rates with a few A-Rated insurers. The rates we have we believe are the best on the market. We usually find that we are a good 20% below our competitors rates. The reason why our rates are so good is that we have a large amount of HMO landlords on our books which mean we get preferential rates.
A lot of clients, as their quotes are so high before they come to us think, is getting cover for the buildings really worth it. Well 100 % if you have a mortgage as they ensure you do this. Even if you own your own student let with no mortgage it is a must. Just imagine if there was a fire and the whole place went up in flames, that is your nest egg gone just to save a few hundred pounds !!!
A lot of student let landlords take out landlords contents insurance, just on the off chance that some damage is done to items they are letting the tenants use. Students on personal contents is down to them.
Remember the HMO property is an investment and makes you a good return so get the small things right like taking out the right buildings and contents insurance, making sure you have public liability cover, make sure you have loss of rent up to 20 % of the building sum insured. Even legal cover for a student let is imperative, it will evict students the right way and then you can claim back any money owing.
So for the best student Let Buildings insurance out there, give us a call and we will be happy to provide you with the best and most comprehensive policy out there.
