The hugely popular LandlordZONE forum is a friendly community where landlords share their experiences, exchange tips and ask for advice. Here we answer a recent question and ask the experts at Hamilton Fraser to give their best answer!

The Question:

Is student property insurance a lot more expensive?

Our answer:

Steve Barnes (pictured, below), Associate Director at Hamilton Fraser Total Landlord Insurance, explains:

“The simple answer is that the majority of insurance companies do charge more for student lets. But every insurer is different and will price their policies according to the claims they receive. So, if an insurer notices that they are receiving a lot of claims from landlords with students, they are likely to increase premiums for student landlords.

“At Hamilton Fraser Total Landlord Insurance, we’ve been insuring students for over 20 years and our history has been very positive. In our experience, student tenants don’t increase the likelihood of claims being made. The majority of student landlords will ask for a guarantor who, in most cases, will be a close relative. Obviously, they won’t want to receive an invoice for damage from a landlord, so we find that students take good care of their rental properties.

“As a result, our pricing from our main insurance supplier currently does not differ between a student or a working professional and this has been the case for many years. Whilst I have no data from other companies, I do feel that students still have a reputation from 20-30 years ago and as a result this is still reflected in the premiums offered by a lot of landlord insurers.

“For student landlords, it’s extremely important that you disclose the correct occupancy of your property so that your policy is not invalid in the event of a claim. Remember to always make sure you let your insurer know the type of tenant you’re renting to, including whether they’re international or UK students, as well as how many tenants will be living in your property. Keeping information from your insurer can invalidate your policy.

“If the property is likely to be empty over the summer, landlords should ask whether the provider covers unoccupancy periods of up to 90 days. This will help to make sure the cover is cost-effective and a good fit for the student rental cycle. Some common reasons for claims, such as break-ins or burst pipes, are more likely to occur when properties are left empty. Our Premier policy offers unoccupancy cover of up to 90 days, rather than the standard 30.

“It’s also worth reminding student tenants that your landlord insurance doesn’t cover their personal belongings. They will need to purchase their own contents insurance separately.

“Find out more about how to make sure you get the student landlord cover you need and, for student landlords interested in up to date guidance on how to navigate student rentals in the current climate, read Managing student tenants – everything a landlord needs to know

“You might not need insurance just yet, but Hamilton Fraser Total Landlord Insurance are there when you do and as a LandlordZONE reader you’re entitled to 20% discount. Call Hamilton Fraser Total Landlord Insurance on 0800 63 43 880 quoting code LZ2020 or get a quote online in under 4 minutes.

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Hamilton Fraser supports landlords, letting agents and tenants by offering a range of solutions and thought leadership to help them navigate the private rented sector. Most recognised in the private rented sector for providing award winning landlord insurance, the Hamilton Fraser family includes Total Landlord Insurance, mydeposits, the Property Redress Scheme, Client Money Protect, Landlord Action, Ome and Total Landlord Mortgages.


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