Student Rental Insurance
Renting apartments or units to students inherently brings risk for any landlord or property management company. Getting protection just makes sense.
Customized, affordable policies for all
Protect your assets from student tomfoolery
Severe weather or theft covered also
SAVE ME DOLLARS
Student Rental Insurance
Renting apartments or units to students inherently brings risk for any landlord or property management company. Getting protection just makes sense.
Starting from $30/month.
STUDENT RENTAL INSURANCE
What It Is
Student Rental Insurance, also known as Student Housing Insurance, is a specialized policy designed for landlords and property management companies. It protects them from loss or damage to their rental properties, as well as any damage or loss to the property’s contents and attached structures such as a parking garage.
What It Covers
Student Rental Insurance protects you from loss or damage, but it also protects you from damages resulting from severe weather, vandalism and lawsuits, should you face a third-party bodily injury or property damage claim. A typical policy may include:
Commercial General Liability (CGL)
CGL protects you from financial loss should you face a third-party property damage or bodily injury lawsuit. This can be as simple as a student slipping and falling in a hallway and deciding to sue.
Commercial Property Insurance
Commercial Property Insurance offers coverage for the contents of a rental unit from insured events like fire, theft or vandalism. It may also replace lost rent payments should a unit become temporarily off limits for residency.
Other Options
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Single residences & condo units
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Large multi-room student housing complexes
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Rooming houses
There are other options to explore; options you may want to include in your policy. For example, Builder’s Owners coverage will protect any assets you have inside a unit like a washing machine. Equipment Breakdown coverage, also known as Boiler and Machinery Insurance, may also be necessary as it covers kitchen appliances as well.
STUDENT RENTAL INSURANCE
What It Costs
There are numerous factors that influence the cost of Student Rental Insurance. The location of your property, the age of a building and the number of units and tenants are obvious ones. But other factors include your years as an owner, the risk management policies you have in place and your annual and projected revenue. If you are renting to students for the first time, it is wise to look at the big picture in designing your plan, which will also influence costs. Remember, students are often living on their own for the first time and may not behave as responsible adults yet. Protect yourself.
SAVE ME DOLLARS
Intentional Damage
by a Tenant
by a Tenant
Many ask if Student Rental Insurance covers intentional damage by a tenant. It depends. If you choose options to cover vandalism you may be protected. Here are some tips to prevent this scenario:
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Prepare a rental unit condition form
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Do a walk-through with the student on the property
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Have student sign form before handing over keys
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Do a proper interview with the student beforehand
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Speak to a licensed broker about your options
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