Although home contents insurance will often not figure very high on your list of priorities, it is a sad fact that student accommodation is a favourite target for opportunist burglars.
The majority of properties occupied by students will contain lap tops, personal computers, mobile phoness and game consoles. Statistics show that around 38 per cent of all students are victims of crime during their spell at university. However, only a small percentage take out any form of insurance policy covering their personal possessions.
Student Contents Insurance
There are two main options open to students looking to insure their belongings while away at university. Firstly, their parents can arrange for their home contents policy to be extended to cover their property while away from the family home. This will of course be dependant on the actual home insurance policy. This method has a number of drawbacks in that the home insurance cover may not provide protection if the possessions are left in unoccupied accommodation for more than a specified period of time - so everything has to come home at holidays. However possessions insured in this way are generally covered against accidental damage, loss or theft.
Furthermore, because of the somewhat casual security measures that exist in typical student housing, the terms of the home insurance policy policy with regard to this may not be met. Finally, if there is a claim, the family's insurance premiums will increase.
The second option is for the students to obtain their own student contents insurance. This is by far the better option, although there are often a number of exclusions and there are always conditions imposed in respect of the security of the accommodation. However the cost of student home insurance is generally more expensive than being added on to an existing home contents policy.