UK Money News
28th July 2008
Students urged to insure high-value possessions
Students have been urged to take out home insurance or risk a hefty payout in the event of theft.
esure was moved to issue its warning in the wake of a study which revealed that students hold an average of £1,500 worth of possessions in their digs.
However, almost one in ten has around double this with £3,000 of goods.
Mike Pickard, head of risk and underwriting at the insurer, said the average value of students' possessions has been swelled by high-tech gadgets such as laptops and Ipods.
Mr Pickard added: "It is very important that parents make sure they have sufficient contents cover in place to protect their child's belongings - either by checking whether it's included in their current policy or taking out separate insurance.
"Not having suitable insurance in place would hit students hard in the pocket and take a real chunk out of a student loan to replace the type of gadgets and designer gear that entices thieves."
The study also revealed that that 24 per cent of parents have not even thought about insurance for their son or daughters' contents whilst away at university.
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