The typical student carries over £2,000 worth of laptops, mobile phones, and bikes to their campus every day, but they are almost three times as likely to fall prey to a break-in as a regular domestic home. So what must you do about purchasing cover?
Generally, there are two choices: get the protection via your parents’ current home contents plan, or purchase your own dedicated student plan. Making use of your parents’ home policy is the most inexpensive option, but a few relatives will logically be careful, as a robbery will ruin their no-claims discount.
If your parents have a typical policy with any average UK insurer, and on the condition that the student resides at the family household in the breaks, they can automatically have up to £5,000 worth of protection for possessions kept throughout term time in your lodging, even if shared in a student house or halls.
This will safeguard belongings – including laptops, mobiles and other gadgets – for all typical dangers such as fire, storm, flood or malicious harm. Robbery is also included, but usually only if somebody actually breaks into your housing. So there’s no protection if you organise a party in which your PC is misplaced for instance. The plans usually cover, as standard, bikes taken from the inside of your student household or a locked garage or other shelter. If your parents have supplementary individual possessions protection on things such as a laptops and phones, they are also normally covered when you are away from your room, or if you, by mistake, damage them.
Not all content cover plans are as substantial. Some only protect your possessions if you’re residing on campus or in halls, not if you live in shared housing off site. Others only protect things kept in your own specific locked apartment, not in shared areas. If you require your own plan and are staying in halls, ensure with your housing supplier what contents cover is provided in your rental payment.
Most unis offer simple cover, and you can normally extend this to include cover for your PC, mobile phone etc. against theft, loss, and unintentional harm from around £9 per month.
If you’re living in a privately maintained communal flat or house, you’ll need something more inclusive. There are ample amounts of dedicated student policies available, so be sure to hunt around.
It charges £81.70 a year in London, with £3,000-worth of contents including a £500 laptop covered away from home anywhere in the UK, and up to 30 days cover worldwide against accidental damage or loss, theft or fire.