Content you’re covered? 1 in 4 students risk going to university with uninsured belongings

With thousands of students heading to university for the first time this September, the experts at Go.Compare are warning students, and their parents, to make sure they aren’t starting the first term with belongings at risk.

Go.Compare home insurance analysed 298 home contents insurance policies and found that 1 in 4 (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 1 in 5 policies on the market (19%) excluded it altogether. With most students taking a laptop and smartphone with them to university, along with tablets, speakers, and more it’s important they have effective and adequate protection for their valuable tech.

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 room in halls.

Further analysis showed that 85% of policies include cover for items temporarily removed from the home, although this requires your parent's home to be your main permanent address, with many having time restrictions on how long items can be away from the main residence. And unlike specific student contents insurance, it also won’t take into account that you are living in a shared space.

Searches by students for contents insurance policies reach their peak in September – data from Go.Compare shows searches increase by more than 350%, compared to six months prior.**

Nathan Blackler, home insurance spokesperson at Go.Compare explains why those heading off to university should be checking their policies closely before they start term: 

“Seeing a rise in searches for contents insurance each September is a really encouraging sign that students are making sure their belongings are covered before they fly the nest. 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, “with 1 in 4 policies not offering student cover as standard, many could be left having to replace expensive tech should the worst happen. 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 which 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.”

To find out more about student contents insurance visit: https://www.gocompare.com/home-insurance/student-insurance/.

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