Students going to University have many valuables that need insuring including, tvs, cars, videos, dvds,mobile phones and laptops. These are expensive and valuable items which could be costly to replace. BIBA has received many calls from parents wanting more information about insurance for young people.
To help, BIBA advises that students should be added on to their parents insurance or phone a BIBA broker for comprehensive, independent advice or a policy.
Top tips are:
- Make an inventory of your possessions
- Ensure the policy covers these items while in student accommodation, advise your broker of your move to Uni
- Check whether the items are covered for accidental damage (e.g. if you dropped a laptop)
- Check whether items are covered while outside the accommodation, (e.g, is your camera fully insured if you damage or lose it away from you accomodation
- If the car belongs to your parents, does the insurer know that you are now the user and that the vehicle is being kept at a separate (university address )
- Mobile phones may already be covered under your home insurance, check with your broker rather than taking out a specific mobile insurance policy
- Tell your insurer you are in shared accommodation and don’t leave tempting items out in full view of room mates
- Staying in dorms – Always lock your room even if popping out for a moment
- Expensive text books and jewellery – Texts books can be costly and often students possessions can exceed £3,000, make sure you are not underinsured
- Ask whether any other options could be added to the parents insurance
- Bicycles are often excluded and you will need to ask your broker specifically about covering them
- Possessions are often excluded if stolen from an unattended vehicle so unload that car as soon as you arrive at Uni!
