’It’s important that the insurance sector finds ways to innovate,’ says managing director of SME and partnerships 

Gallagher UK has launched a new property and contents product to enhance cover for student accomodation providers and their residents, a statement released yesterday (24 August 2023) said.

The policy, called Student Assist, will offer providers protection against damage to their properties and personal belongings insurance to residents.

The product has been designed to be bought by providers, who then pass it to their student residents as part of an all-inclusive offering.

David Birch, managing director of SME and partnerships at Gallagher, said: “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.”

‘Reflects needs’

This came after the most recent annual Student Money Survey, published in 2022, revealed that 82% of students said that they were worried about making ends meet. 

Gallagher said that insurance was 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.

“The cover, [therefore], 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,” Birch said.

The new product 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.

It also gives students the option to insure their belongings when they are away from their accommodation, with cover starting at £1.99 per month.

Damage to fixtures and fittings is also covered, including fitted bathrooms, while kitchens, boilers, curtains and shelving units are protected should an incident occur such as a fire or flood.

“We look forward to engaging with universities and accommodation providers, as well as our existing clients in the education and housing sector,” Birch added.