Hi all,
I’m hitting a massive wall and looking for other options.
The Situation: 60 student rental units across 18 properties in Massachusetts.
- 16-year track record with zero claims.
- Historically insured with admitted carriers, but over the last 24 months, I’ve been non-renewed by everyone.
The Problem: Admitted carriers in MA seem to have a blanket "No Undergrad" policy now. My broker has exhausted the standard market.
Why the "Mass FAIR Plan" (MPIUA) fails: The FAIR plan isn't a viable solution for a portfolio of this scale. They cap liability at $500k, and because my property values exceed their limits, the dwelling coverage defaults to Actual Cash Value (ACV) rather than Replacement Cost. For an 18-building portfolio, that’s a massive amount of risk to retain.
The "E&S" Trap: I’ve pivoted to the Excess & Surplus (E&S) market, but the quotes are coming back with "Swiss Cheese" coverage. I’m seeing absolute exclusions for:
- Absolute Liquor Liability (Even host liquor)
- Assault & Battery
- Habitability/Maintenance
- Intentional Damage by Students
- Independent Contractors
The Question: Has anyone in the MA/Northeast market found a carrier or a specific "Master Policy" program that actually understands student housing?
I suspect many smaller investors are simply "grandfathered" in because their legacy carriers don't realize they have undergrads residing there.
Is there a specific wholesale broker or specialty program I’m missing?
MA Insurance Crisis: 60 Student Units, 0 Claims, Dropped by everyone. Is student housing now "uninsurable"?
byu/HabitTimely3598 inRealEstate
Posted by HabitTimely3598
2 Comments
Damn, this is brutal but not surprising at all. The carriers basically decided student housing = automatic loss after all the covid chaos and party liability stuff
Have you tried reaching out to the NCHC (National College Housing Cooperative) or similar orgs? Sometimes they have group programs or know specialty carriers that actually get the student market. Also might be worth hitting up some of the bigger student housing REITs to see who they use – companies like American Campus Communities had to figure this out at scale
The E&S exclusions you’re seeing are standard garbage unfortunately. That assault & battery exclusion alone makes it basically useless for student properties
Have you tried posting in r/insurance?