Traditional landlord insurance covers the property itself but not tenant belongings and many students do not take out insurance coverage on a personal basis, often looking to accommodation providers to assist if an item is damaged or stolen.
The Student Assist product has been designed to be bought by providers at a lower cost, who then pass it on to their student residents as part of an all-inclusive offering.
Benefits of Student Assist
The insurance cover protects possessions inside the accommodation, including laptops, tablets, TVs, and phones, against damage, theft, and loss. Damage to fixtures and fittings is also covered, including fitted bathrooms and kitchens, boilers, curtains, and shelving units, should an insured incident occur. Additionally, it gives students the option to insure their belongings when they are away from their accommodation, with cover starting at under £2* per month.
By covering the accommodation provider and student under one policy, the product offers peace of mind to both parties, helping to minimise complexity in claims settlements, making it easier for students to replace their most important items and minimise disruption to their studies.
Agents select the cover for student residents, who can then access policy documents on a digital platform via a tablet, laptop, or smartphone, to download to a digital wallet. The customer journey has been designed for digital natives, with the platform allowing students to make a claim and access on-demand support online.
Further personal support
Wellbeing services are also offered which are designed to support students' mental, financial, and physical health and provide support during personal circumstances that could interfere with studies. Students can access a range of well-being tools, including counselling and financial support when needed.
We’re delighted to launch our new student proposition for letting agents, expanding on our insurance offering to Propertymark members. We look forward to working with student agents to enhance their offering.
Managing and owning property for students can come with additional risks and we believe that Student Assist helps mitigate some of those potential issues that may be faced. Our cover has been designed to reflect the needs of today’s students, with a self-service portal to manage their policy with on-demand support.
We removed as many barriers as possible to make our cover easy to understand, which is particularly important for students who may not have much experience with insurance. Providing a space for quick and easy access to their policy makes making a claim or building on the cover as accessible, easy, and intuitive as possible.
Benefits to Propertymark members
Gallagher offers discounted prices to member agents and provides a specialist Propertymark team. For more information on the Gallagher Student Assist solution contact the dedicated team at 0800 288 4921 or email [email protected]
Gallagher: Insurance
Gallagher are Propertymark's official insurance broking partner, offering up to 20 per cent off professional indemnity insurance for members. If you would like advice on your insurance programme contact the dedicated Gallagher team.
*Based on insurance cover for a single item; eyewear under £200 or camera equipment under £1,000, or musical instruments under £600. Policy limits and exclusions may apply, please see the policy wording for full details.
