Student Contents Insurance
Top 3 Student Content Insurance Providers 2013
It’s easy as a student to forget about small matters such as contents insurance, in favour of going down to the local student union and getting very, very drunk, but in the long run you’ll thank yourself that you’ve taken it out.
Student houses and halls of residence, unfortunately, are prime targets for thieves looking to make a quick buck. Your relaxed, laissez faire attitude and aversion to the police makes you the perfect victims for thieves, who will happily exploit your good nature to their advantage. Don’t believe me? Well recent statistics show that students are 3 times more likely than everyone else to get burgled! On top of that, recent research shows most students own possessions in excess of $4000!
Let’s face it, how many times have you forgotten to close that window or lock that door and suddenly panicked once you’ve left your house that someone could get in. Well now that you’re renting your place, you’ll need to think about just how you’re getting to insure no one breaks in and takes all your stuff! Make sure your cover includes Walk-In theft, as many plans don’t cover you, if there’s no sign of forced entry. Some plans don’t cover certain items, such as bikes or musical instruments, so if you’ve got one, make sure that it will be included. Most plans will cover you for theft, flood, fire and many other criteria, but it’s always worth reading the fine print to make sure you’re getting your money’s worth. It’s also worth getting Accidental Damage added to your cover, so you’re not paranoid every time you put a cup of tea down next to your laptop!
There are a variety of contents insurance plans on the market but many of them are aimed at an older audience of home owners. Oh and make sure you don’t get conned into taking out home insurance, as that will cover the physical property and not your stuff! Remember you’re renting; the only thing you need to insure is the contents of your room, house or flat.
It might sound obvious but it also pays to look after your belongings, literally. Make sure your landlord has installed fire and burglar alarms. If you manage not to make any claims for a while, you’ll be able to enjoy an NCD (No Claims Discount), which basically reduces your premium and means you pay less overall. Other ways of reducing your premium are by offering to pay more in excess if you do have to make a claim. The excess is the money you front when you make your claim.
We’ve taken a look at a variety of student contents insurance plans to give you a rundown of the very top 3 plans available to suit your budget. Have a read of each and see which one you like the look of best before you make up your mind. Oh and make sure your housemates know that your contents insurance only applies to your stuff, so they don’t just assume that they’re covered too. They’re not. You’ll each have to take out contents insurance.
Top 3 Student Content Insurance Providers:
Endsleigh, is the only Insurance company to be recommended by the National Union of Students and with over 50 years of experience in the business, you’re guaranteed to get great contents insurance cover with them. Endsleigh offer specialist student room insurance where you can indicate exactly what you want your insurance to cover. Their plan covers your belongings inside and outside your room, with up to $2,000 cover for individual items like Desktop PCs and speakers, (laptop cover has to be purchased additionally). They’ll also replace your old PC with a new one should it be stolen. The policy covers Walk in Theft and stuff left in your room during student holidays for up to 35 days. You’ll also enjoy a $600 cover on CDs/DVS’s and cameras but only if their left in your room. You can easily add extra cover for your laptop, mobile phone, musical instrument and bike amongst a variety of other factors. Having all your insurance cover with one provider makes life a hell of a lot easier and Endsleigh are undoubtedly one of the best providers of student contents insurance around.
Barclays offer a decent student contents cover for possessions between £2,000 and £8,000. With them you’ll be protected from loss or damage, in the event of a flood, fire, storm, theft or vandalism. The neat thing about this plan is that they cover you not only in term time but also when you’re on your way to or from Uni (they don’t cover holidays unless you add it). You’ll also enjoy cover on your TV, PC, games consoles and sound system of up to £250. The most they’ll pay for single item is $500, so bear this in mind. If you own an expensive laptop, bike or smart phone, you’ll need to take out additional insurance. You’re also covered up to £1,000 should you damage any of the furniture or goods in the house you are renting.
HSBC offer students, 4 levels of cover for up to £2,000, £3,000, £4,000 and £5,000 depending on how expensive your stuff is worth. The maximum an individual item is covered for is $500 and that includes loss and damage. The HSBC student contents insurance also includes a useful 30 day cover for when you are away from your accommodation. So if you go on holiday or home when term times over, you can be sure your stuff will be covered for 30 days. HSBC also cover your cash, so you can get up to £100 if your money is stolen or £500 if your credit card is lost or stolen. You can also enjoy accidental damage protection of up to £250 which covers your TV, Hi-Fi etc. This plan does not cover your computer, so if you think you need additional cover for your PC, laptop, bike or any other precious item, make sure to include it in your plan.