A guide to student content insurance

Beginning a new chapter in life and starting university is an exciting time for most. However, it can also be a daunting and stressful time, especially for those who are leaving home for the first time.

With so much to think about, protecting your valuables is something that is often overlooked. However, with the average university student owning several items of technology, having some protection in place is extremely worthwhile.

What is student’s contents insurance?

Student’s content insurance is an insurance policy which has been designed to protect the belongings that a student takes to university. These belongings are protected if they are lost, stolen or damaged and also against any loss or damage caused by fire, flood, storm or burst pipes.

Do I need it?

Imagine returning to your new accommodation after your first night out during Fresher’s week and you find that your building has been broken into and your laptop, iPad and digital camera have been stolen.
Now imagine that you have purchased a contents insurance policy and will be able to replace these items without losing out financially. Relief?

Having a contents insurance policy in place can make situations like this a lot less stressful and upsetting.

How do I insure my contents?

There are four main ways that you can insure your belongings whilst at university which are explained below:

– An existing home insurance policy
It is likely that your parents have a home insurance policy in place. They may be able to extend their policy to include your belongings whilst at university. Not all insurance policies offer this extension and if they do, there are often limitations so you should always check that the value of your items are covered.

– Student accommodation insurance
During your first year at university, you will usually live in halls of residence or student accommodation. It is common to be offered some level of cover as part of your accommodation arrangement. If this insurance does not cover the value of your items then you may wish to purchase a more comprehensive policy.

Home contents insurance
A home content policy cannot be purchased if you are living in halls of residence, so this option is more suited to those living in privately rented accommodation like a house or flat.

Student’s contents insurance
Many insurance companies now offer specialist student contents insurance which is the same as a home contents policy, but available to students living in halls of residence.

When insuring your contents with any type of insurance policy, there is often a limit on the value of individual items. For example, there could be a £500 limit on your policy, but your laptop could be worth more than this. If this is the case, you should ensure that the individual item limit on your policy is high enough to cover your most expensive items and devices.

Things to remember about student’s content insurance:

• There are often exclusions in student contents polices which can include musical instruments and bicycles. You can purchase extra cover for items that are not included in your policy.

• Additional protection can be added to most insurance policies such as ‘accidental damage’. This could be useful if you are living in shared accommodation.

• Most policies have an excess which you have to pay if you make a claim.

• Policies often have a ‘valuables’ limit, meaning only a certain amount of items can be classed as ‘valuable’.

To learn more about home insurance and how to get the best deal for you, visit Bobatoo .

Photo Credit: pestoverde via Compfight cc

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