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Insurance

This section deals with content insurance, visit here for car insurance.

According to the Home Office young people are more likely to be victims of burglary, and students own more expensive consumer goods per head than the rest of the population. So it’s not surprising that students are statistically one of the most likely groups to fall victim to crime, with 1-in-3 being affected each year. Given this fact it makes sense to have your belongings insured.

You may already be covered

Finding cheap insurance

Use comparison websites such as comparethemarket.com , confused.com and moneysavingexpert to get an initial idea of the type of insurers around, but also contact insurers themselves, they may give you bigger savings for going to them directly.

As not all insurance policies are the same, decide what is important to you and check that the policy gives you what you need before signing up, the more categories policies include, the higher the price becomes.

Some categories you might like to consider are:

Personal possessions

Items you carry on your persons such as Ipods/ phones/ MP3 players and jewellery (some insurance companies even include your wallet or purse and its contents)

Holiday cover

Does the insurance cover you for when you go on holiday or when you are away and even when moving to a new place?

Accidental damage

Accidental damage can put a premium on insurance – so think carefully, sometimes it’s better and cheaper to buy a new item than it is to claim on an insurance.

Damage to the landlord’s property

If you live in privately rented accommodation and accidentally damage the landlord’s property you will be held liable. Your insurance may not cover this.

Flooding

With the recent bad weather and large parts of the country underwater, taking out contents insurance against flooding is worth serious consideration, especially if you are in a high risk area.

There are many insurance companies that offer products specifically against flooding, but you would need to speak to them directly.

Stuck finding a list of accredited insurers? visit the ABI website

Also check and make sure that your landlord has buildings insurance which covers damage caused by flooding, otherwise you may be held responsible.

Compensation for leaving University

Some student insurers will pay some money towards course fees and rent if you have to leave due to an accident or unforeseen event.

Payment

Paying the insurance in full when you sign up is always the cheapest option. However setting up direct debits (which can be more expensive long term) can help with managing your money and outgoings.

Reduce the risks

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