Student Possessions Insurance

Click Here for a Student Possessions Insurance Quote

What is Student Possessions Insurance?

Student possessions insurance is an essential element of security for any student living away from home in halls or rented accommodation. For a premium affordable by students, it will provide cover for items stolen in the event that your residence is burgled, as unfortunately thieves often target student property.

As a student you aren’t likely to be able to afford the loss of expensive possessions such as iPods and phones so in the event of your residence being broken into and items removed, your insurer will provide financial compensation to replace items covered by your insurance policy!

Flexible Insurance

Insuring your possessions is a flexible process, although the price of your policy will increase with the value of the items on the policy, so it’s important to be prudent as to what things you keep as a student and which of these you want to insure. You might want to leave your expensive watch or jewellery at home!

When getting your quote you can choose an upper limit for the value of your general coverage (ie. £2000, £4000, £6000). This will deal with the majority of your possessions but if you have any particularly expensive or precious items, you will be able to add itemised extras at an increased premium.

Most insurers expect you to be careful to prevent unwanted entry into your residence (don’t leave the front door swinging open in the breeze!) but there are some which amazingly offer total coverage regardless of circumstances. It will always be in your best interests to do the basics when it comes to preventing theft however, just remember to take care.

In addition to insuring items in your residence, most insurers will offer coverage at an increased rate for individual items you are liable to take with you under an ‘all risks’ policy. This means, for example, you can insure your laptop allowing you to worry a little less about taking a break while working at the library, or, importantly if it’s your primary mode of transport, your bicycle!

Be careful to understand the fine print regarding how your policy covers you during holidays or for out of term-time incidents.

Click Here for a Student Possessions Insurance Quote

Other things to consider with Student Possessions Insurance

The basics of insuring your possessions are all well and good but there are lots of additional factors you should also consider in order to manage your premiums. Every insurer will base the fundamentals of a premium on the area in which you are living. While living in halls will generally provide the lowest base rate, if you’re going into your later university years you’ll probably want to live with friends in a flat or house of your choice.

Bear in mind if you choose to live in a dense inner city area that doesn’t have the best of crime rates, your basic premium will be noticeably higher than when living in a more suburban residential area. One factor that is clearly out of your control is that attending university in London will invariably result in higher premiums.

Insurance Matters

You really cannot underestimate the importance of insuring your possessions. The typical student will be facing genuine financial independence for the first time and a key part of this is managing your own funds. As careful as you may be, if a resourceful thief takes hundreds of pounds worth of property and you’re not insured, you will be in a situation from which it may be hard to recover.

The key thing about student insurance is that it is catered to a student budget. Unless you are desperate to bring particularly expensive items to university, which you would certainly want to insure, the average premium is rarely more then around £100, perhaps £150-200 if you are attending a city university and not in halls. This single premium will ensure your possessions for an entire year from the point of purchase and the insurance provider will remind you when the time comes to renew the policy and will explain how any changes will affect your premium

Most major insurers offer good student possessions insurance. Getting a quote online is absurdly easy to do, as these firms’ websites will take you through the process in a methodical and easy-to-understand fashion. Given the ease and affordability of a student policy, any concern that you might buy a policy for three years without ever needing it really shouldn’t even be a consideration. It’s the safest, most responsible thing to do with your possessions as you move away from home for the first time.