How to Find the Right Contents Insurance

When you're renting a property or even just a room at university, you'll want to ensure all your valuable possessions has adequate financial protection against loss or damage. And, that's where student house insurance comes into play.

Even these days you'll have many items that are expensive such as a laptop computer, a mobile phone, perhaps a bicycle or even a games console.

You may even have furniture that you have brought into the house, and student parties can get out of hand, or an unwanted guest may be responsible for the theft of your items.

If you're on campus, you may be covered by the college insurance policy so check there first. Some items may even be covered by your car insurance if you have a vehicle or even your parent's home policy.

But if you are into your university studies and renting it's more than likely that you'll need your own house insurance to cover your own possessions.

Type of Insurance Cover You May Need

It's easy to save money and not take out any insurance but if you value what you have then think about these situations and what you would do if you lost everything. The following is an overview of the circumstances where a loss could occur:

• Burglary of the house you're renting.
• Accidental damage to property contents.
• Water damage perhaps from a burst pipe (your landlord's insurance may cover that).
• Storm or flood damage and other "Acts of God".
• Theft by people you may know.
• Vandalism or malicious damage.
• Smoke damage from a fire or over zealous cooking.

Your student union may have recommended insurers or have a look at cheap student contents insurance at comparison websites to get a better deal on the type of cover available and the likely cost. In fact, student insurance is relatively inexpensive because the value of possessions is usually less than a regular household.

Student Possessions Insurance Policy

All policies pay out in different circumstances so check with your broker or insurance company what type of cover you are receiving. Some of the things to consider are:

• Will you get "new for old" cover if you experience a loss will the policy buy you a new item or just the value they believe it is worth?
• Do you have a 24 hours a day helpline if something goes wrong or you need to emergency services of a plumber, electrician or locksmith?
• What type of legal services do you receive if you require them?
• What excess will you have to pay (that's the first amount for every claim you make)?
• Are you really covered for accidental damage?
• What will you need to do in the event of a claim such as proof of ownership or purchase of your contents?
• Is there a monetary limit on what you can insure? For example, will your £1,500 computer be covered or is there a ceiling on each item?
• Are you covered during holiday times or when you are outside of the UK?
• What items are not covered by the policy?

Some of the Items You May Need Insurance For

It's not just the obvious items you possess that you may want to think about in your student house insurance policy that you'll want to insure so here's a list of things to consider when discussing with your insurance broker or college advisors:

• Personal furniture
• Laptop or personal computer
• Any legal fees
• A rental guarantee to pay your rent
• Food in freezers
• Any hi-fi equipment
• Money and credit cards either in the home or in your possession
• Kitchen appliances including microwaves
• Injuries to third parties (just watch the insurance adverts on daytime TV to see what people are claiming for these days)
• Your study books
• CDs and DVDs
• Iphones and digital cameras