Students heading off to university will be taking an array of goods and gadgets with them–some of which could be highly valuable. So it’s important to have suitable cover in place, and make sure you’re are not putting these possessions unnecessarily at risk. Data from comparison website Go.Compare indicates that searches by students for contents insurance policies peak in September.
When looking for cover, firstly, it’s worth students checking whether they are covered on their parents’ policy. However, recent research for Go.Compare home insurance, which analysed 298 home contents insurance policies, found that just over (26%) don’t provide cover for student belongings as standard. This makes it important not to assume you’ll be automatically covered. Some policies allow people to buy student cover as an “extra”, but others may rule it out completely. There may also be certain terms and conditions to bear in mind.
For example, an Aviva Direct Home policy enables students who are undertaking full-time education and living away from home to have £12,000-worth of their belongings covered at their term-time accommodation under their parent or guardian’s home contents insurance policy – but this is provided that they return to the family home during the holidays. It’s also worth checking the insurance limits for high-value items, and whether some items need to be listed separately. For example, with bikes often being expensive – and a target for thieves – students may want to consider additional cover for these.
The cost of contents cover could also vary significantly, depending whether you’re living in a halls of residence or a shared house, for example. If you’re living in halls, Go.Compare suggests checking whether the university offers student content cover for your room. Also, make sure you could actually afford to pay the excess, if you needed to claim, and shop around to compare insurance deals.
And finally, prevention is better than cure, so keep valuables out of sight, including when you’re in accommodation, visiting the library or out socialising. Make sure doors are locked and windows are closed if you’re popping out.
