Students 'need to think about their own insurance'
Published On 10 August 2007
Many students mistakenly believe that their parents' contents insurance will cover their possessions when they go to university.That's the opinion of Graeme Trudgill, a spokesperson for the British Insurance Brokers' Association (Biba). Mr Trudgill said that many students could find themselves out of pocket unless they take out their own insurance for their time at university.
Research from Biba suggests that 38,500 of the 350,000 students who will head off to university this autumn will be burgled while they are studying - making insurance vital.
Mr Trudgill added: "Many household policies do cover items for students living away from home. But the limits might be quite low and it may not cover high value items like laptops.
"Some of the policies that parents do have might not cover their children when they are away from home.
"[Students] need to check that the value of the overall items they are taking compared to the value covered by the policy that the parents have."
Recent research from the Association of Investment Companies showed that both parents and children are drastically underestimating how much going to university will end up costing.
