Students reminded about personal possession insurance cover

Posted under General by Alan

University students who would be trekking back to their institutions have been reminded by the Sainsbury’s Home Insurance about insurance of their personal possessions. The company, which researched the home insurance market, observed that 25% of policies of students who were staying away from their homes did not cover personal possessions.

There are 430,000 households in England and Wales where students stay. The research indicates that a large number of young people are putting their possessions at risk while staying in rented flats and homes, with no guarantee of compensation.

Student accommodations are the vulnerable targets of burglars due to vacancy for longer periods and possession of costly consumer goods in case of shared flats or houses. The research also revealed that 11% of policies were covered for meagre £1,000 or less while 34% were covered for £3,750 or below. These values were far below the value of student’s possessions which could be worth thousands of pounds for devices like laptops, PCs, mobile phones, iPods, digital cameras, jewellery, textbooks and bicycles.

Home Insurance Manager, Neil Laird, advised students to check contents insurance policies of their parents for “away from home” clause, and confirm if its adequacy for the value of their possessions. This would give them security against chances of burglary.

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