Understanding your energy usage
Worried about getting the right cover for your stuff? We help you on your way.
With only a few weeks remaining until the start of the new academic year, students will soon start thinking about what they need to pack.
Many of those heading off to university will take thousands of pounds of possessions with them, including mobile phones, laptops, musical instruments, bikes and so on.
But as students can be a prime target for thieves, it’s vital to check you are adequately insured.
Contents insurance protects your belongings from theft, fire and accidents. Taking out a policy will give you the peace of mind of knowing that should items get stolen – or damaged – you won’t end up out of pocket.
If you are going to be living in halls from September, the good news is, many provide some sort of insurance for personal possessions as standard.
But you need to check this, as it may only be a basic level of cover.
You must also look carefully at what’s included – and find out about any policy limits and exclusions.
For example, while your laptop and other belongings should be covered while you’re in your halls, you are probably not going to be covered for items you carry with you when you’re out and about.
Some home insurance policies will automatically include cover for student home contents.
To avoid doubling up, it’s worth going through your parent’s policy to see what cover is on offer before paying for any further cover.
Be sure to clarify the terms and conditions. There may, for example, be a limit on the amount of cover for belongings away from home. Accidental damage may be excluded, too. You could also find the insurance only applies during term time.
At the same time, parents should also be aware that by adding a student to their policy, they could end up paying a higher premium, and risk losing their no-claims bonus.
While it’s worth checking what cover is offered by your halls of residence, and also by your parents’ policy, you may find specialist student insurance is a better option. It may also be better value.
If you want to purchase a policy, you can compare deals on contents insurance here.
Don’t buy on price alone, as the very cheapest policies may be riddled with exclusions.
Read customer reviews and compare policy features carefully to find the right cover at the right price.
Scour the Ts and Cs so you understand the exclusions – and exactly what you are and are not covered for.
To work out how much cover to take out you will need to estimate the total value of all your contents
No matter whether you’re going to be living in a hall of residence or shared house, you need to take steps to protect your possessions and keep your student digs safe.
Make sure all doors and windows are always locked when you leave.
In a shared house, consider putting a lock on your bedroom door. In some cases, this may be a condition of your insurance.
Check your landlord has got a robust burglar alarm and fire alarm system in place, as well as carbon monoxide detectors.
Try not to keep much cash in your digs, and never store your Pin numbers alongside your cards.
As a student, you don’t need to worry about buildings insurance. If you are renting a shared property, it is your landlord’s responsibility to put this cover in place.
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