Students should check their insurance before starting university

Published by Hannah Nemeth on 07 September 2017.
Last updated on 07 September 2017

Students should check their insurance before starting university

About one in five students will be the victim of theft during their first six weeks at university, according to The Complete University Guide.

However, in the rush to get ready and move out of their childhood home, students often assume that they will automatically be covered by their parent’s home insurance – which isn’t necessarily the case.

Below are six tips from Yorkshire Building Society to make sure your prized possessions are covered.

While some insurers will add students to their parents' contents policy, it is not always carried out automatically and cover may be limited, so check if cover will protect all your valuables.

1. Check if you’re covered by your parents’ home insurance

While some insurers will add students to their parents' contents policy, it is not always carried out automatically and cover may be limited, so check if cover will protect all your valuables.

2. Shop around for the best deal

Always compare quotes when starting a new policy or renewing an existing one.

3. Check the level of cover

Don’t always choose the cheapest deal – or you may find you won’t be covered for everything you need. Also, read the small print carefully.

4. List expensive items separately

To make sure your prized possessions are covered, list expensive items, such as a laptop or jewellery, separately when you fill out the quote.

5. Check the length of cover

Some specialist insurance policies don’t include cover outside term-time. If you are returning to your parental home, you may need to add your goods back on to your parents’ policy during the summer months.

6. Check the small print to see if there are any special requirements

Student insurance can have special terms and conditions. For example, if you live in a shared student house, your insurer may specify that bedroom doors must be locked when you leave the house.

Russ Hargreaves, general insurance manager at Yorkshire Building Society, says“With the new academic year fast approaching, many new university students will undoubtedly be excited about the prospect of living away from their parents for the first time. Insurance is probably the last thing on their mind, however, students are a big burglary target, so they may wish to consider taking out an insurance policy before the start of term.”

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