Students Contents Insurance
Tenants Contents Insurance policies are a little like car insurance, there’s a basic policy giving you minimum cover and a “fully comp” policy which, like it says covers practically every eventuality. It’s worth checking to see if you need to pay extra to cover your items..
Its really important that you take out the correct cover for your belongings when you are living in rented accommodation. Students commonly own a variety of electronic devices including laptops, iPods, iPhones and televisions, all of which could be expensive to replace.
Most students operate on a tight monthly budget, which is why it's important to “shop around” various insurance companies to see if their student contents insurance policy covers what you need.
Don't be lulled into a false sense that all your items will be covered automatically - they probably wont.
Check the Cover.
You need to make sure:-
- You only pay for the cover you need, there are no hidden costs involved
- Quick replacement times e.g. your laptop within 24 hours, should it be lost or stolen.
- Offer you no claims discounts for not claiming or proven history.
- Make sure, if you musical instruments you are covered.
- And your bike if you have one propped up outside!
- Maybe you can get cover for your possessions as well as those of your housemates with some sort of House Sharer policy.
- Approved by the FSA
- Approved by the NUS.
Some extra thoughts what is covered in standard cover and what might not be. You MUST check as if you don’t then you will more than likely find out too late !
Check the small print and make sure specific items like iPods and cameras are covered.
If you want cover for your contents if you accidentally drop or break them in your home, then you will usually need to add what’s called “accidental damage cover” as the chances are this will not be included in the standard cover.
Also, check the small print regarding leaving your belongings in your rented accommodation when you go home for holidays as again this maybe not included in the standard cover.
Are you covered for what’s called “walk in” theft?