Students need to study the small print

Record numbers of students heading to college or university at the start of the new academic year are putting their possessions at risk.

The majority of students are likely to be renting accommodation when they start the new term, but a Shropshire insurance expert has revealed many are completely unprepared.

University Students

Dave Williams, from Henshalls Insurance Brokers in Newport and Shrewsbury, said the latest research had revealed two in five students did not have insurance cover in place.

“When you consider that last year the average student took over £2,000 worth of possessions with them, and 9 per cent took belongings worth a staggering £4,000, the risks really do start to stack up.”

Dave said students renting a property were often guilty of overlooking some of the most basic responsibilities.

“They may assume that the landlord will take care of everything, such as the upkeep of the building, health and safety issues, and all the insurance. But while the landlord should have the building itself covered, the contents can often get forgotten, and are usually the responsibility of the tenant.

“Without contents insurance for tenants, students risk being unable to replace possessions after an insurance event like a fire, flood or theft.

“The good news though is that they may not need to fork out for a new policy, as many home contents insurance policies include cover for family members while they are living and studying away from home. But the cover levels differ massively, so it’s vital that students do their homework before assuming they will be fully covered on their parents’ home insurance.”

Dave said it was also important that students renting a property (or a room in a larger house) appreciated the difference between buildings insurance, and contents insurance.

“It can be easy to dismiss contents insurance as unnecessary, particularly if you are renting a partially furnished property. But the value of your own possessions can be deceiving. If you have a television, laptop and phone, as most students probably do these days, these three items alone could run into four figures.

“And your contents are your sole responsibility – nothing to do with your landlord – so it’s up to each student to make sure they’re covered by the right kind of policy.”

  Dave Williams

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