Student possessions insurance should cover £3,000

1st May, 2007

On average, students take £3,000 worth of goods with them to university, claims the student possessions insurance provider, NatWest. This highlights the need for student possessions insurance to ensure that people are covered as they dive into university life.

NatWest spokesperson Mary Taylor explained that student possessions insurance is a small price to pay when considering the practical and emotional loss that a theft could result in. "It is dangerous for students to assume that their belongings are covered by their parents' contents insurance policy. NatWest would always advise students heading off to university for the first time to find out exactly what is and isn't covered and shop around for quotes."

"With the average student taking over £3,000 worth of possessions with them to university, the final bill to replace goods could stretch their financial resources to the limit if adequate student possessions insurance isn't in place and they experience a burglary."

Student possession insurance is particularly relevant when students move out of halls. With three or four students living together, accommodation becomes more attractive to thieves aiming to steal three or four computers, hi-fis and other electrical equipment.

Ms Taylor added: "We are all aware of the financial issues that students face, but saving money by not taking out student contents insurance is a false economy. It doesn't have to be a thief that deprives you of your goods - housemates can be equally destructive. Accidents happen, belongings get broken, taps are left running. A contents insurance premium is a small price to pay for a little peace of mind."

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