A simples guide

Does a student contents insurance policy cover all my belongings?

If you’re moving away to study, a contents insurance policy is a good way to protect your belongings should anything happen to them while you’re away.

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Student contents insurance

The right contents insurance policy for you will very much depend on your own personal circumstances. However we’ve pulled together the following information to help you make sure you have the right cover:

Check what cover is already in place

If you’re moving from your parents’ home to university or college, you could check what cover they already have in place. Home contents insurance typically covers you for losses in the home, but you could extended cover for contents in student accommodation. If your parents’ policy already has this, or could be extended to cover you in this way, that may be sufficient protection for you.

If you’re going to be living in a university hall of residence, check if cover may also be in place via the university. A number of them already have a basic level of insurance in place which will cover your possessions against, fire, flood and theft.

In both of these situations, check the policy carefully. There are a number of exclusions, so you may need to purchase additional cover if you don’t have enough.

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What should I look out for?

  • Do you want accidental damage cover? Most contents insurance policies exclude accidental damage cover as a standard, but include it as an optional extra. This means you will need to add it if you want to cover any accidents you might have.
  • Exclusions. All policies will have certain things that they won’t cover. This may be certain types of events, or it could be certain types of possessions, such as bikes. There is often a way to insure these things if they’re important to you, but you’ll need to be prepared to pay more.

 

What else to look out for

  • Limits and Excesses.  Policies will cover you up to a certain financial limit for both an individual item and all your items combined. So for example, your computer might be covered up to £1,000 as a part of a £5,000 total contents limit. It’s worth noting that most policies have a single limit of about £1,500. So if you have a computer worth £3,000 for example, you will need to specify this in your policy to make sure it’s covered.

    Excess is the amount of money that you will contribute towards a claim before the insurance provider will pay out.

    Increasing the limits or lowering excesses will usually increase your premium, while reducing the limits and increasing excesses should have a positive effect on the premium price.
  • Standard contents insurance will only cover you if items are damaged in, or stolen from, your home. If you want to cover your possessions while you’re out and about, you’ll need to arrange additional cover to protect them.

    Contents insurance for students to protect your belongings is certainly available. You’ll just need to invest a little time in finding the right policy, at the right price for you. Use our comparison service to help you compare your options and find the right cover for you.
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