Protecting your valuables

The common image of a student is someone that is struggling for money, but one of the reasons for this is because they must purchase expensive computer equipment in order to survive the year.  They are the most likely group to receive high ticket presents such as a laptop, ereader, media player, and mobile phone.  As a result, they are also one of the most likely victims of home theft threats since they also usually live in accommodation without a proper security system.  In fact, one out of every three college students will be the victim of theft this year.

With this in mind, taking the time to purchase home contents insurance as a student, or for a student is a very worthwhile venture.  Regardless of whether a student lives within a Halls Residence or off campus, in a landlord owned accommodation it is important to look up student insurance quotes to protect their personal possessions.

Student insurance is very similar to home  contents insurance and will protect a student from fire, weather, or flood damage as well as theft, making the small purchase vital, given they are just as apt to suffer a problem as anyone owning a home, if not more so.

Student insurance is not expensive compared to other types of insurance, and when you do look at the cost of replacing each of their gadgets should an event occur, you will quickly realize that the price is minimal compared to the potential financial cost of a loss.

The average student owns about £3,500 worth of computer, sports, and academic equipment that they keep within their residence, but it is estimated that only about 14% of students have insurance to cover their belongings.  This is largely due to the fact that students and their parents are unaware of the home insurance that is available to them.

Outside of purchasing home insurance, students can also take proactive steps to protect themselves such as recording the model serial numbers of all of their items so that in the case of theft police can track their goods.  Placing the student’s name on all items is also a good idea, since it may deter a thief from taking the item in the first place out of fear that they will be caught.  One word of advice however, it is good idea not to place a student number and name on an item given that a clever thief could use this information to access their university account.

Finally, it is vital to realise that most halls of residence do not offer any built in insurance or protection in the case of theft, so contents insurance is the only way to protect students’ goods.  While students are reluctant to spend money on insurance, forcing them to do so by calculating the worth of their room contents is a great way to teach them how to approach the world as a responsible person, and teach them the value of responsibility as they transition into adulthood.