Student House Insurance
When you are renting a property or even just a room whilst at university you'll want to ensure all your valuable possessions are covered 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 if it's not covered by your network provider, 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 are in campus you may be covered by the college insurance policy so check there first. Some items may even be covered by you 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 are in
- Accidental damage of property
- Water damage perhaps from a burst pipe (your landlords insurance may cover that)
- Storm or flood damage
- Theft by people you may know
- Vandalism or malicious damage
- Smoke damage from a fire or over zealous cooking
- Fire damage
Your student union may have recommended insurers or have a look at cheap student contents insurance to get a better deal of the type of cover available and the likely cost. In fact student insurance is relatively inexpensive because the value of possession is normally 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 help line if something goes wrong or you need to emergency services of a plumber, electrician or locksmith
- What type of legal services are provided 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 will not be covered ?
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 day time TV to see what people are claiming for these days)
- Your study books
- CDs and DVDs
- Ipods and cameras