Students encouraged to prioritise insurance before class begins

Ahead of the beginning of the academic year, Yorkshire Building Society has compiled a checklist to help students preparing for university protect their belongings.

According to The Complete University Guide, one-third of students will become victims of crime while at university, with around 20 per cent of student robberies occurring in the first six weeks of the academic year1.

To help prepare undergraduates before the start of term, the mutual is encouraging students to:

Check if they’re covered by parents’ home insurance.
Students often assume their possessions are covered by their landlord, or even by their parents' home insurance, but this is not always the case. Some insurers can add students to their parents' contents policy, but this is not always done automatically and the cover they receive could be limited. Students should therefore check to see if they are covered, and if so, what they are covered for to ensure that the insurance they have is sufficient.

Compare insurance policies to find the best deal.
If students do need to take out a new insurance policy, they can save a fairly significant amount of money by shopping around for the best deal. If renewing insurance, providers will send details of any previous policies so they can compare the costs with the new policy.

Check what is and what isn’t covered by the insurance policy before taking it out.
Students should not just automatically go for the cheapest deal as these tend to be more limited in terms of what they cover, potentially making them useless if any losses are suffered. Students should check the terms and conditions to ensure it has the level of cover they need.

List expensive items separately on the policy to ensure that they are covered.
Items such as laptops or jewellery should be listed separately on the insurance policy to ensure that the cover is sufficient.

Check the period of insurance.
Many students tend to leave possessions in their student accommodation during the holidays, but some insurance policies don’t provide cover outside of term-time. It’s important to check the period of insurance as if they’re not covered outside of term-time they won’t be able to claim for any losses that occur during that time.

Check the insurer’s requirements and make sure they are adhered to.
Many insurance policies include requirements which will need to be fulfilled, for example, some insurers may specify that bedroom doors must be locked when leaving the house.

Russ Hargreaves, General Insurance Manager at Yorkshire Building Society, said:

With the new academic year fast approaching, many new university students will undoubtedly be excited about the prospect of living away from their parents for the first time. Insurance is probably the last thing on their mind, however, students are a big burglary target, so they may wish to consider taking out an insurance policy before the start of term.

Students should not just assume that if they have insurance in place it will cover them for everything. All policies are subject to certain conditions and it’s crucial that students familiarise themselves with these to ensure that their provider will pay out should the worst happen.

For more information about Yorkshire Building Society, please visit, phone 0345 166 9510 or call into one of our branches.



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