Students urged to check home insurance details
Published On 18 September 2007
Students about to head to university have been urged to check the details of their parent's home insurance before deciding to take out their own policy.Cornhill Direct explained that many students do not realise that some of their parent's home contents insurance policies will provide enough cover for them while they are at university.
"We know from the insurance claims we receive from parents that the university lifestyle can leave students vulnerable to theft from their rooms," explained Mark Bishop, spokesman for Cornhill Direct.
"These days, students take a lot of electrical kit to university such as laptops, MP3 players and mobile phones, so they do need to be insured."
Recently, the Financial Services Authority (FSA) issued a set of guidelines which it hopes will help students manage their finances in the most effective manner possible.
FSA advice includes tips about budgeting and how to make sure student bank accounts are working as hard as possible.
Steve Stillwell, the man leading the implementation of the FSA's Money Doctors programme, explained: "Budgeting, managing a bank account, and perhaps working for the first time, are all daunting prospects - but the aim of the Money Doctors programme is to help young people take control of their finances and make smart choices."
