by Ed Firmin
Posted on Thursday, December 1st, 2016 at 11:07
So you’ve settled into to your new student pad for the year, started your degree course, and made friends. But have you sorted out your contents insurance? It may not be top of mind when renting a student property but in the long run, protecting your property is essential.
So why should take you take out contents insurance?
Although you may seem to be getting along famously with your new university friends and housemates, how long have you actually known them? A couple of months? A few weeks? And then there are friends of your housemates who may be wandering around the house without your knowledge. Research suggests that young people are more likely to be victims of burglary in their homes than older residents, and that students are three times more likely to be burgled than the average household.
So while everyone at university may come across as friendly, make sure no-one takes advantage of your easy-going nature and be sure to keep your belongings out of sight and secure. If you have a room key, make sure your door is locked at all times. But above all, take out out an insurance policy to protect you against theft.
Some providers won’t cover you for ‘walk-in theft’, where there is no evidence of forced entry, so make sure you choose a policy that covers this. You should also make sure your policy covers your belongings throughout the year, including the holiday season. And finally, many deals only cover items when they are in the home. If you need to insure belongings that you take out and about with you while you’re on campus or in the pub, make sure you’re covered.
So you’re working into the small hours each evening trying to finish an essay before the end of term. The deadline is only days away but suddenly you spill water all over your laptop. How are you going to finish your work in time? How can you afford new equipment before the next student loan comes in? Being prepared for such eventualities by insuring your personal belongings before any accidents happen will save you the stress (and cost) of having to think about a quick replacement.
You may also assume your belongings are covered by your landlord’s contents insurance, for example in the event of a leaking roof which results in ruined bed sheets or clothing. However, this is not the case and you must take responsibility for your own belongings.
There are a wide variety of insurance providers on the market these days. Apart from the traditional long-established brokers, many high-street banks are now also offering insurance packages for students, so it’s best to shop around before deciding on a policy. The National Union of Students recommends Endsleigh insurance, the UK’s leading insurer of students’ belongings – but before you decide, why not check out a price comparison website to give you some ideas of the different levels of cover available? Happy hunting!