Gallagher launches property and contents insurance for universities and student accommodation providers

Insurance broker and risk management company Gallagher is launching Student Assist, a policy that covers universities and student accommodation providers with insurance cover against damage to their properties, and their resident students with personal belongings insurance. 

Student Assist addresses the issue that many students do not take out insurance cover on a personal basis, and in the event of an item being damaged or stolen, look to their accommodation provider to assist. However, traditional landlord insurance covers the property itself but not tenant belongings. The policy is designed to be bought by universities and student accommodation providers, who then provide it to their student residents as part of their all-inclusive offering. 

The insurance cover is available to students living on and off university campuses and protects their possessions whilst inside their 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 are covered should an incident occur such as a fire or flood. 

Gallagher one of the leading providers of specialist insurance and risk management solutions to the education sector, insuring over a third of all UK universities, and this new innovative product builds on its current proposition. The firm also has a large client base and extensive experience in the landlord and property owners insurance market across the UK. 

By providing cover for both the accommodation provider and student under one policy, the product offers peace of mind to both parties, and helps minimise complexity in any claims settlements, and makes it easier for students to replace their most important items and minimise disruption to their studies.

Universities and accommodation providers choose the required cover for their student residents, who then access their cover and policy documents on a digital platform via their tablet, laptop or smartphone. The customer journey has been designed for digital natives, with the platform allowing students to make a claim and access on-demand support online.

According to the most recent annual Student Money Survey, 82% of students said that they were worried about making ends meet. With this in mind, insurance is likely to be low on the list of priorities for students, leaving them exposed to the cost of having to replace belongings if they are damaged or stolen. 

Student Assist addresses this and additionally gives students the option to insure their belongings when they are away from their accommodation with cover starting at £1.99 per month*. Wellbeing services are also offered as part of Student Assist, which have been designed to support the mental, financial and physical health of students and provide support during personal circumstances that could interfere with studies. Students can access wellbeing tools, counselling and financial support if and when they need it.

David Birch, Managing Director, SME and Partnerships, at Gallagher: “We’re delighted to be launching our new student proposition for universities and accommodation providers.’

“As the needs and expectations of students continue to evolve, it’s important that the insurance sector finds ways to innovate. In response to this, Gallagher has developed Student Assist to make the process of getting insurance easier for both providers and students, with each step carefully considered to drive more value to customers. 

“The cover has been designed to reflect the needs of today’s students, with a self-service portal to manage their policy in one place with on-demand support to help students with any queries they may have. 

“We look forward to engaging with Universities and accommodation providers, as well as our existing clients in the Education and Housing sector.”

*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.