2 July 2015

Student Insurance. Have you covered everything?

Results are out on August 13th. Time to think about what they will be packing!

So that's it. They have finished all their exams, packed up their books and said goodbye to school. Hopefully after the agonising wait, their results in August will mean your child is off to start a new adventure at university.

Your main concern when they leave is that they will stay safe.But what about all those precious items they are planning on taking with them? MoneyMaxim through our Student Insurance site can help you find a policy to suit your child and their new lifestyle.

Most people will have considered standard insurance to cover their belongings in their room. But have you thought about all the 'extras' they may be taking which could fall outside of some insurance policies? There are the gadgets which many students routinely take out and about with them. Mobile phones, ipods, tablets or laptops are just a few.

Is your child taking a degree which requires specialist equipment? A stethoscope? A musical instrument? Sports equipment? Some of these items may need extra insurance as they are more valuable or, as with the gadgets, they are routinely taken out of their place of residence. Although many halls of residence have a policy which covers all the rooms (and is included through their hall fees), these valuable belongings may need to be added on top.

For some of you, your child may be entering their second year and this will be their first time in a private rented accommodation or your child may not have got a place in halls. in these circumstances there can then be other points to take into consideration. When you take out the insurance make sure the locks on the outside doors are adequate under the policy requirements. With any university living there are people traipsing in and out many of whom your child will not know. Sadly statistically your child stands a high chance of being a victim of crime while they are away studying. As many as 1 in 3 suffer this fate. In a privately rented house you may not be able to lock the individual bedroom doors. This can be a factor for your insurance so may be worth installing a lock if you can. However BEWARE if you lock your bedroom door and watch TV in your room, you will need your own television licence!

What about if your child is going abroad to study or has a placement overseas? There are policies which can help with this too. Through the MoneyMaxim Compare student insurance site you can find access to companies that will cover your child while they are away.

So we hope that your child gets the marks they are hoping for on August 13th and head off to the university of their choice in the autumn. But just as a last thought when they do... If they sign up for any dangerous sports clubs at freshers week, you may want to take out insurance for that too!