That’s according to Go.Compare home insurance, which has warned that one in four students risk going to university with uninsured belongings.
The price comparison site analysed 298 home contents insurance policies and found that one in four (26%) don’t provide cover for student belongings as standard.
While 7% of policies allowed the option to purchase student cover insurance as an added extra, a further one in five policies on the market (19%) excluded it altogether.
Many policies (85%) include cover for items temporarily removed from the home, although this requires the parent’s home to be the student’s main permanent address, and there are often time restrictions on how long items can be away from the main residence.
Unlike specific student contents insurance, standard insurance policies also won’t take into account that you are living in a shared space.
Expensive tech
Most students take a laptop and smartphone with them to university, along with other expensive tech, which is why it’s important they have adequate protection in place.
Specific student contents insurance takes into account that students are likely living in a shared space, increasing the probability of damage to their belongings. It’s designed to cover the cost of replacing items if they get stolen or damaged while in a student house or a room in halls.
Nathan Blackler, home insurance spokesperson at Go.Compare, said: “Whether you are setting off for university for the first time or for your final year, knowing that should anything happen to your belongings you won’t be left out of pocket offers you peace of mind to focus on your studies.
“Don’t assume that a parent’s policy will cover you,” Nathan added. “Check the conditions of any parent’s policy to make sure you understand what is already included – this will mean you can purchase the right kind of cover and prevent you from paying twice for the same thing.
“It’s also important to think about the kind of cover you need – as a student, you won’t need buildings insurance as this is your landlord’s responsibility. What you do need is a policy [that] will provide you cover for any loss or damage to your belongings when they are in your accommodation. It’s also worth considering whether or not you want to opt for cover when you are out and about, especially for those who will be taking laptops to lectures. You can usually add this as an optional extra if you need it.”
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