University Students and Insurance
The time is fast approaching when a new intake of freshers will leave home for the first time and start their courses at university. One big difference between now and a few years ago is that it is so much easier now for students and their parents to stay in touch because of the internet, mobile phones and social media. But this also means students are likely to have much more valuable equipment with them, making insurance even more important than in the past. The average student has more than £2000 worth of laptops, smartphones and bicycles etc and unfortunately they are also three times more likely to be the victim of a burglary than when living at home.
A Few Tips for Students
Check parents’ cover.
If your parents have home insurance, it may automatically cover you under the ‘temporarily removed from the home’ section while you’re a student. The cover only applies while in your accommodation though; ask them to do a quick check.
If you need cover for any mobiles or laptops, or items you normally wear or carry away from your home, your parents could also add the ‘all-risks’ or ‘unspecified personal possessions’ section to their policy, which specifically covers your stuff while it’s out of their home.
Handily, many policies allow this, and it’s worth checking if your parents’ insurance already includes this.
Don’t assume student policies are cheaper
Start by comparing prices of student policies with standard policies.
Though specialist student insurers do tend to be pricier than standard policies, one advantage is that they give wider cover.
Lock your doors.
If you’re in shared accommodation, your insurance won’t cover you for theft unless there’s been a violent or forced entry. So always make sure you lock your room door when you leave, even if you’re just popping out briefly.
Check if your bike’s included.
If you’re bringing a bike, your contents insurance may cover it. Always check though, and find out how much extra it is to add if not.