Students warned of need for home insurance

22nd September, 2005

University students and their parents have today been issued a double warning over home insurance for their belongings while at university.

A new report reiterates the message that student's possessions are extremely valuable, usually owning items such as laptops, iPods, stereos and TV's and the average student room can easily contain more than £2,000 of kit.

Insurer Hiscox highlights the fact that students as a group are more at risk of burglary, not only because their accommodation is sometimes vulnerable, but also because the worth of their belongings makes them more appealing targets to thieves.

Students insurance should therefore be a priority, as it will cover the cost of replacing items and parents are advised that most regular home insurance policies can be extended, sometimes at little or no extra cost, to cover their student son or daughter.

Hiscox director Kevin Kerridge explained 'Standard student insurers can charge around £15-20 per month and then an extra £10 a month for bike cover. However, some home insurance policies ... offer up to £2,500 worth of cover for student possessions for no more than £5 extra per month, with other policies ... offering student cover automatically as standard.'

The company has calculated that merely by checking with their parent's insurer, they can easily save themselves over £180 a year on insurance costs, which according to Hiscox 'is likely to be the last thing on a student’s mind before they start the new university year'.

He added: 'They’ll probably be delighted to let their parents deal with the arrangements.'

 

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