Whether your sons or daughters are in their first or final year of university, you never stop looking out for them and want to make sure that they are well provided for.
After the countless open day campus visits, vetting of cities and student accommodation, you are probably feeling confident that they are in the best place possible and will be looking forward to creating a new life, but whilst they begin to figure it all out for themselves, you might want to consider how you can help them from many miles away.
Home insurance for everyone?
Whether they’re sharing in private rented accommodation or piling into student halls, it might be worth considering whether student housing may not be the safest place for all those valuables.
It’s estimated that a third of university students become a victim of crime, most commonly theft or burglary, with about 20% of student robberies occurring in the first six weeks of the academic year whilst students are likely to be distracted exploring their new surroundings.
For those students whose parents have an existing home insurance policy, chances are that they will be covered by it. The cover can often have a number of exclusions and restrictions, so always read your policy wording carefully. The student will probably need locks on their doors, for example, if they live in a shared house or halls of residence.
Existing home insurance policy
All risks cover can often be included with your contents cover, but there are some key areas to consider:
1. Have you included this additional cover?
This cover is not always offered as standard, and may need to be added. There can also be exclusions and restrictions that apply to possessions away from the home.
2. Cover away from the home
Does your policy include cover for your possessions whilst on the university campus or travelling to and from campus? You may need to pay an additional premium to have this included.
3. No claims discount
Remember that if a claim is made for a student-related incident, it will affect your no claims discount just as any other claim could.
4. The excess
You might want to make sure you set the excess at the lowest possible level, even if this costs a little more.
If your home insurance policy is up for renewal and you have family members at university, our specialist home insurance team are on hand to offer you a competitive quote. Just give them a call on 01243 219 333. After all, nothing is more important than their future.