With the contents of an average student room adding up to almost £3,2591, it’s worth considering student cover before your son or daughter heads off to uni. Computers and entertainment equipment can be expensive to replace if damaged, or targeted by thieves.
In rented accommodation, buildings insurance should be covered by the landlord but insurance for your son or daughter’s belongings usually won’t be.
University halls may offer contents insurance as part of the rent. If so, you’ll need to check this to see if it meets your son or daughter’s needs.
If they’re moving into shared accommodation, each housemate will need their own shared-house contents insurance policy.
Most home contents policies provide around £5,000 worth of cover for items you ‘temporarily remove from home’. This could include items your son or daughter takes to their student accommodation, provided they move back home outside of term time.
It’s always best to check this in your policy documents, plus:
the excess for making a claim
do you have a no-claims bonus that would be impacted by any claims? if your no-claims bonus (if you have one) would be impacted by any claims
any exclusions that might not suit a student lifestyle
If you’re looking to buy a separate student contents insurance policy, you’ll find there’s different levels of cover available.
The most basic student contents insurance policy will generally cover items in a student house or halls, such as clothes, TV and non-portable desktop computers. However, it may not provide cover when they’re out – if their laptop is stolen from a café or on the way to a lecture, for example.
To protect their possessions when they’re out, you’ll need to look at adding personal protection or gadget insurance to their policy. You can also choose to add cover for accidental damage to computers, or bike cover – if they’re taking their bike to uni.
Most insurers will offer flexible options so you can tailor the cover to suit your son or daughter’s needs. For example, you may want to cover specific items or include everything they’re taking with them.
You should read the full terms and conditions of any insurance policy before you purchase it. Again, consider any excess that you’ll need to pay and if there are any exclusions in the policy.
As an alternative to student insurance, you might consider a multi-cover insurance package. This could cover your son or daughter at uni – as well as yourself, your partner and any other children who live with you.
With our multi-cover insurance, Select and Cover, you build your own policy by choosing 3 or more types of cover. The mobile phone and gadget cover options could be a good way to protect their things while they’re away from home. You can make up to 4 mobile claims and 4 gadget claims on the policy each year.
Your son or daughter attending uni needs to be under 23, in full-time education and to live at home outside of term time to be covered under your Select and Cover policy.
Cover starts from £19.50 per month for 3 options and you can cancel at any time. It’s available exclusively to HSBC UK customers with mobile banking. Terms, conditions and exclusions apply.