Back to school, but don't forget your insurance

With students heading to universities in their droves, it's time for parents to dig out their insurance policies. The average student has £3,548 worth of belongings in their student accomodation, says Sainsbury's Finance. But 34% admit that they are not insured, which could leave them seriously out of pocket if their laptop or mobile phone gets stolen.

By Ruth Jackson-Kirby

published 21 September 2009

in Features

But it could be that they are insured without even knowing it. Many halls of residence include basic insurance which is paid for out of your accomodation fees. But this can be fairly limited cover, so check the details and whether it covers the value of your possessions. Students who live with their parents outside of term-time may find that their belongings are covered under their parents' contents insurance. The policy will state whether it covers the possessions of a child studying away from home and up to what value.

However, both of the above tend to only cover items when they are in the student's room and secured too, so no leaving your door unlocked. If you want to be able to take your laptop to the library to study, then your best bet is to double check exactly what insurance you have under your parents' policy. If it's not enough, then you'll need to get some student insurance.

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Ruth Jackson-Kirby is a freelance personal finance journalist with 17 years’ experience, writing about everything from savings accounts and credit cards to pensions, property and pet insurance.