Students warned on home insurance

Posted : 26-04-2007

Students are being urged to check they have adequate home insurance in place to protect their belongings against burglary or accidental damage.

According to NatWest many students believe they are already covered on their parents' home insurance policy, but this is not always the case and they should therefore check and make other arrangements if necessary.

Spokesperson Mary Taylor said students can find plenty of cheap home insurance deals if they shop around for quotes and make sure they read the small print.

Ms Taylor said she recognises the financial constraints many students are under, but points out that the cost of cheap home insurance is much less than the cost of replacing damaged or stolen belongings.

"With the average student taking over £3,000 worth of possessions with them to university, the final bill to replace goods could stretch their financial resources to the limit if adequate insurance isn't in place and they experience a burglary."

Research from MoneyExpert.com shows that more than one home insurance policy in four does not cover the belongings of students living away from home and 13 per cent of those that do limit payouts to £3,000, which may not be adequate for students with expensive items such as laptops and stereos.


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