Why Students Need Insurance

Sometimes students do not see the need to cover their belongings. Living on a shoestring is a standard part of college or university life and many young people who do not yet have full-time or decently-paying jobs can feel it is not worth spending a few pounds a month for insurance.

They might also believe no burglar could possibly want their possessions, imagining them to be generally cheap and uninteresting.

Unfortunately, however, the official statistics show that young people and those who are in study are actually more likely to be targeted by criminals.

The Home Office's data indicates that people between the ages of 16 and 24 are three times likelier than others to be burgled.

Not only that, but students also have the most valuable consumer items compared to other groups of people.

If this surprises you, think about computers, games consoles, music players and so on.

While student possessions might be covered by their parents' home insurance, it is crucial to check this and buy additional cover if necessary to make sure all your possessions are protected.

A few pounds a month is a worthwhile investment, even on a student budget, to prevent the very real chance of having to replace some very expensive belongings.

Many student insurance policies are specially designed for their target market and are often very reasonably priced, as the insurers realise young people still in education are unlikely to have a lot of cash to spare.

See if you can add individual possessions to the policy, as this could work out cheaper than simple blanket cover.

Use a pen and paper to help you add up the real cost of your valuables and how much insurance you need - you may be surprised.

Of course, you should also protect both your policy and your belongings by using some Home Office advice for preventing theft.

Lock all doors and windows when you leave your house and never leave your hall of residence bedroom unlocked, even if you are not going far.

Note down the make, model and serial numbers of electrical goods and put your university initials and student number on to all of your property.

While it makes sense to be careful on a student budget, a few pounds a month could help prevent a much bigger payout later if the worst should happen.

If you're in the market for student possessions insurance then check out leading insurer Endsleigh for a student insurance quote. Originally founded in 1965, Endsleigh has since grown to become one of the UK's leading independent intermediaries. We specialise in providing insurance solutions for career people offering a product range that starts with students and continues through to retirement and beyond.