4 September 2014

Student Insurance – Are You Ready For Freshers?

Make sure you are ready to start the new year with all the insurance you need to keep your personal belongings safe.

Freshers Week is drawing closer, in a couple of weeks the majority of students will be heading to their new place of living for the start of their university adventure, or returning for their second or third year. Even in the excitement, more practical items such as insurance need to be purchased to keep you and your personal belongings safe, make sure you get the appropriate level of cover so there is no risk of financial loss to you or your parents!

Contents insurance is a must at university, without it your possessions are at risk and you could be left with a rather large bill replacing those items of importance. As a fresher, most of you, though not all, will be living in halls, and whilst your rent for that accommodation may include contents insurance, do check how much is covered by it as it is likely to be a basic policy, there are companies on MoneyMaxim's student insurance page which do provide specific cover for halls in the form of full cover for those who have no insurance provided, and a top up policy for those who just have basic insurance. If you have insurance with your halls of residence do read the policy wording carefully to ensure you are covered appropriately. You may be going into your second or third year and therefore be renting privately, if this is the case it is unlikely that any insurance will be included in your rental agreement, so do make sure you get contents insurance to fully protect your belongings.

Many students now can be seen typing on laptops in their lectures and seminars instead of using a notebook and pen, as it is seen as being much easier to gather complete notes without your hand aching! Do be aware though, by carrying your laptop to and from lectures you are increasing the risk of the loss, theft or breakdown of your laptop. The same goes for tablets, which are also a popular alternative to paper and pen in lectures. Make sure your gadgets, including your mobile phone, are insured as the loss, theft or breakdown of any of these could result in a rather expensive bill for any student. By using MoneyMaxim's gadget comparison service, you'll be able to compare the cover and price of various policies and purchase the best level of cover for your belongings, some companies that offer contents insurance will also offer gadget insurance as a top up onto the basic policy for an additional cost.

Many students choose to take their bicycle to university, particularly for city universities it can be a handy way to get around, and very cheap! Do make sure you insure your bike though, as particularly when it is left outside when you're in lectures or around the city it could be at risk of being stolen or damaged. An increasing number of students are taking their cars to university, one of the most important things about doing this is to make sure you have told your insurance that the will no longer be at your home, do not be tempted to insure the car as you would if you were at home as if you have a problem your insurance may be invalid. On top of this, do not get your parents to ‘front' your policy, getting them to tell the insurer they are the main driver when actually you are, as insurance companies are getting more and more wary of this and can detect when a policy has been ‘fronted'. By insuring you car or bike, you can be worry free and enjoy your university experience whichever year you are going into!

The most important thing about purchasing insurance is to be as transparent as possible so you get the correct cover, and you can have peace of mind knowing should you need to make a claim there will be no possibility of the insurer turning around and saying they refuse to pay due to incorrect information when purchasing the policy. Make sure you enjoy Freshers Week and that you and you're belongings are appropriately insured!