Why You Should Have Your Own Insurance Policy

Why You Should Have Your Own Insurance Policy

Although some parents’ home insurance policies may cover some of the likely risks of taking your belongings away to university, students these days are taking a number of valuable items with them. Endsleigh’s 2015 Student Survey, asked over 3,000 students about their gadgets and possessions, finding that they take close to £4,000 worth of possessions with them to university. It’s therefore really important to find the right level of cover. Here we talk through the benefits of a specialist student insurance policy.

The benefits of specialist student insurance policy verses a parent home insurance policy:

There are a number of benefits available on a standalone student policy that may not necessarily be included on a parents’ home policy:
•    Students will be able to build up their own no claims history. From a parent’s perspective, their home insurance policy could therefore receive a no claims discount, which could be lost if a student makes a claim on their policy. 

•    Specialist student insurance is designed to cover the items that students most commonly use such as laptops, mobile phones and bicycles. Parent’s Contents cover might provide less specific protection for these items, which may not be adequate.

•    Specialist student insurance can provide the following:

-    Cover anywhere in the UK and cover abroad.
-    Liability cover for rented household goods, public service equipment, library books and college property on loan.

Endsleigh’s top tips to help students keep their possessions safe
•    Check the security of your accommodation when you arrive and raise any safety concerns with the landlord/halls of residence immediately.
•    Make sure your doors and windows are locked when you leave your room.
•    Make sure there’s nothing valuable on display through the window. Either close the curtains or hide them out of sight.
•    Make sure you back up your work and digital downloads regularly.

Watch this video to find out more about why it is important for students to ensure that they seek out insurance shaped to suit their lifestyle and the gadgets they need to protect.

*If your item is lost, stolen or unrepairable we’ll replace it within 24 hours - one working day of your claim being approved.

A Bit About Our Contributor Endsleigh Insurance

Endsleigh Insurance is a Cheltenham-based UK insurance intermediary specialising in the student, education, graduate and sport markets. Endsleigh are the preferred insurer for many of the UK's Student Accommodation providers.