Contents Insurance for Students
How important is it?
Do your children or grandchildren go to university? Presumably, they have hit the shops and bought the paraphernalia needed for another year away. But all these purchases cost money. An average of £2,132 in fact. So why is it that two in five students, according to research by M&S Bank, do not take out contents insurance?
Is contents insurance worth it?
According to research, one in ten students are victims of theft when away at university so while it may seem a bit of a bore to bother with contents insurance and yet even more to pay, it is so very important considering an average of £382 worth of belongings are stolen.
Thefts are at their peak during the first weeks of university with 20% taking place. Students don’t need the added stress of dealing with a theft and trying to replace what has been stolen when they are adjusting to university life. Student maintenance loans are not enough at the best of times without having to fork out again to replace their stolen possessions.
Student contents insurance is crucial. No matter if they are sharing a house or in halls of residence. Parents’ contents insurance policy may well provide some level of cover but not all do. And of those who check, find that students more than likely need to take out extra cover of their own, as well.
If students are living in a private rental their landlord will have taken out buildings insurance but contents are not usually covered, so that will be up to students to arrange. Halls of residence may have minimal insurance that covers theft but such items as laptops are classed as high value and would probably not be covered – it is worth getting students to read their contracts carefully.
A useful exercise would be to work out what it would cost to replace everything they are taking with them as this is the amount they would want to be covered by your contents insurance. Remember to include those particularly high-value items such as smartphones, tablets, laptops and musical instruments. The cost to replace these, if they were to be stolen, would be much greater than the cost of a student contents insurance policy.
After calculating the cost of their possessions it is easy to find the perfect contents insurance for your students. All you need to do is speak with one of Silversurfers A Plan local insurance experts and they will be very happy to help you.
If you would like a quote please call Silversurfers insurance on 0800 032 5953 and receive a 10% discount as a Silversurfers member.
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