Off-Campus, Privately-Owned Student Housing Properties
Protect your Student Housing Investment with Millers Mutual
Student Housing is an essential cornerstone of student life for any college or university. And while this market is noted for its dependable cash flows, renting to students comes with unique risks. Working with an expert insurance carrier is key in ensuring a student housing investment property is protected. At Millers Mutual, we have taken the time to understand this market segment and created a product that best protects the landlord.
Rental
Dwellings
Traditional and
Garden-Style
Apartment Housing
Mixed-Use
Occupancy
Desirable properties will have the following characteristics
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24/7 Maintenance
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Owner/property manager with 5+ years of experience
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The lease is joint and severable for students under 21/Parental Guarantee
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Properties are four stories or less
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Locks on each bedroom door
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PC 8 or better
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Tenants are required to carry Renters Insurance
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Central heating system serviced annually
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Up-to-date roof, plumbing, HVAC and wiring (must be circuit breakers, min. 100 AMP service)
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All units and common areas equipped with smoke detectors (hard-wired or lithium ion)
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Building Values up to $5 Million
Coverage Features
Written on a businessowners policy (BOP), providing broader coverage (named perils or special form) versus standard excess and surplus products where typical Student Housing is placed
Actual Cash Value, Functional or Replacement Cost Valuation
Business Income, actual loss sustained
Equipment Breakdown included
Umbrella Coverage Available, limits up to $5 million
Download our PDF with tips on how to minimize the risks of renting to college students.
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