A simples guide

Students possessions insurance

Wherever you live, you will have your own possessions around you. Even if you’re still at home, you will have property which is yours and yours alone. This can include memories from your childhood, valued photo’s through to your phone, your television and your computer.

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Living at home

If you’re a student still living at home, then you probably won’t have specialist student home insurance, and instead your parents will most likely have home contents insurance. This is an insurance policy which covers the possessions inside your home and, in some cases covers things that you take outside like your computer or a camera. Many insurance companies have limits on the value and the types of items covered, so check your household policy if in any doubt.

Depending on what type of insurance policy your parents have your possessions may be covered both at home or away from home. , If you have a claim and the right level of cover you should get enough money back from your insurers to replace the lost or damaged item. Some insurance policies cover items that sustain accidental damage too, so if you break something accidently it may also covered.

If you’re a student

If you’re a student and living away from home, it will probably make more sense for you to have your own students’ contents insurance. On average students are said to have around £2,000 worth of property. Students are around three times more likely to be a victim of burglary than a conventional family.

Contents insurance for students should cover all your possessions, including laptops, cameras, study books, clothes and other possessions, although you may need to specify certain items. Your own student insurance will ensure that your parents don’t lose their no claims bonus on their own home insurance if you need to make a claim. Not all standard household policies will cover theft or damage if you live in a halls of residence, or you’re away from home or university in another part of the UK.

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What should your policy cover?

Your university may offer you insurance, but it will probably only cover you for theft or loss from the university and the halls of residence.

Your own policy can offer you more options and the cover will be more specific. It can cover loss by fire, flood and theft and it should give you the option to add on accidental damage, which is a useful form of cover to have if you can afford it.

You should also look at insuring your bike, if you use one to get to and from university as this may not be automatically covered on a student home insurance policy,  and possibly neither will a musical instrument if you play one. Double check with your insurer about cover when you’re away from home or university, in case there is a maximum distance you can travel before your cover runs out.

Some policies may include mobile phone cover, but it means you will be without a phone while the claim is being sorted out. It might be better therefore to have a separate mobile phone insurance, which could replace your phone immediately.

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Lowering your premium

Some insurance companies charge you more money if you pay for your contents insurance in instalments. Some don’t, so it is worth checking before you agree to the policy. If you live away from halls of residence in a privately rented flat; make sure your rented property has approved door and window locks as this may lower the premium. If your property has a burglar alarm, make sure the insurance company know about it.

You can also increase the amount of your voluntary excess, which might lower the premiums, but before you do make sure it is an amount you can afford to pay if you have a claim. Most compulsory excess charges start at £50, so you could increase your voluntary excess by another £50 and see if that lowers your premium but make sure you can afford to pay £100 should you need to make a claim.

Student contents insurance

Every year you have student home insurance that you don’t claim on you will build up a no claims bonus. Therefore, the second year’s cover may be cheaper than the first if you haven’t claimed.

Use our comparison service on our website to search for student contents insurance. Tell us a bit about you, where you live and what type of cover you’ll need and we’ll get back to you with a list of competitive quotes for you to compare and choose from. Before you start to compare insurances don’t forget to make a list of your possessions and add up how much it would cost to replace them (it’ll probably be more than you expected).