Off-campus student housing insurance protects your investment while housing students.

Obtain off-campus student housing insurance to offer protection for your investment and the unique risks.

Property and liability insurance for your building.

Off-campus student housing properties come in all shapes and sizes, including single-family dwellings, multi-family dwellings, apartment buildings, garden-style complexes, boarding houses, and more. Commercial property and general liability insurance are important coverage options to discuss with an insurance professional when protecting off-campus student housing properties. Property insurance protects your building and some of its contents, such as appliances and furniture that you provide. Conversely, liability insurance offers protection in the event you are held liable for bodily injury or damage to the property of others.

Protect your investment property like the business it is.

What would happen if you couldn’t rent out one or more of your units? Your investment property is your livelihood and you need to protect yourself in the event you could not collect income from your property. Business interruption insurance may help replace lost revenue if you’re unable to rent a unit due to a covered loss. Additionally, another coverage to consider is equipment breakdown. This helps to cover the cost of the repair or replacement of expensive equipment, such as HVAC systems.

  What types of housing may benefit from coverage?

Some examples of off-campus student housing include single-family and multi-family dwellings, apartment buildings and complexes, garden-style complexes, boarding houses, and dormitories.

  How much does off-campus student housing insurance cost?

The cost of your policy may depend on a variety of factors, including safety measures, security features, the location of your property, previous claims, and the type of building, to name a few.

Managing Liability Risks in Student Housing

Owning off-campus student housing comes with responsibilities beyond maintaining the building. Property owners may face liability claims involving injuries on the premises, maintenance issues, or allegations related to how tenants are treated.

General Liability Insurance: Depending on the policy terms, commercial general liability insurance may help cover certain third-party bodily injury and property damage claims. Maintaining the property and addressing reported safety concerns can also help manage risk.

Fair Housing and Tenant-Related Risks: Student housing owners should follow applicable fair housing laws and use consistent, lawful tenant screening and leasing practices. If a discrimination-related claim arises, coverage depends on the policy, exclusions, and circumstances of the claim.

Employment Practices Liability Insurance (EPLI): If you employ property managers, maintenance workers, or other staff, EPLI may help cover certain employment-related claims, such as allegations of discrimination, harassment, or wrongful employment practices, subject to policy terms.

Review your liability coverage with an insurance professional to understand which risks are covered and where additional protection may be appropriate.

Additional Insurance Coverage for Off-Campus Student Housing

Beyond property and general liability insurance, off-campus student housing owners may need additional coverage based on their property’s location, operations, and risk exposure.

• Cyber Liability Insurance: If you collect or store tenants’ personal or financial information electronically, cyber liability coverage may help address certain costs associated with a data breach or cyber incident.

• Commercial Umbrella Insurance: An umbrella policy may provide additional liability limits above eligible underlying policies, subject to the policy’s terms and exclusions.

• Natural Disaster Coverage: Depending on your property’s location, you may need separate or additional coverage for risks such as earthquakes, hurricanes, or other natural disasters.

• Flood Insurance: Standard commercial property policies typically exclude flood damage. Consider whether separate flood coverage is appropriate for your property’s location and exposure.

The right coverage depends on your property, lease arrangements, existing insurance policies, and specific risks. A review of your current coverage can help identify potential gaps.

Do you own off-campus student housing property? Contact Porter-Brandenburg Agency Inc. to discuss your property and explore suitable insurance options.