Students contents insurance isn’t exactly a popular choice among many students. The reason for this is simple: most students don’t want to have one extra thing to pay for. While understandable, it is still a good idea to consider just what this type of cover can do for you. It goes beyond even covering the contents of your home. In some cases, there are even policies that’ll cover your tuition fees. This is useful if you’re ever ill or injured.
University is an exciting time. You meet new people, move to a new place and possibly study new subjects. Being a student can be great, too: especially when it comes to partying.
But probably one of the most exciting aspects of third level is that for many people, this is their first time away from home. Whether you move into halls or a flatshare, you’ll be striking out in the world on your own. Doing your own laundry, making your own food and managing your own finances.
Yes, that’s right: finances are of major importance and all students know that. Which is why more people are considering students contents insurance. The small mercy here is that many providers offer discounted rates for those who are studying.
How much is students contents insurance?
Prices for this kind of cover are lower than normally – of course. You may end up paying a bit more for particularly useful features. Tuition fee cover, for example, is something you may have to pay significantly more for.
For example, you could get cover from as little as £45.00 a year. With a price at this level, you’re more likely to get the most basic things covered. So, you may simply be insured for £2000 worth of valuables in your home.
With addition extras (such as tuition cover), you may be paying upwards of £200 a year or a bit more. Bear in mind…
…this is still comparatively cheap and worthwhile.
Why do I need students’ contents insurance and what does it cover?
If you’ve ever looked into students’ contents insurance, you’ll find that it isn’t very different from other forms of home cover. Of course, these policies tend to have a variety of features that others may not have. And of course, they’re designed to benefit students.
For example, a students contents insurance policy may cover…
- Student gadget cover: In this case, “gadget” refers primarily to the electronic devices that you use. Most students will at the very least have a smartphone (like most people). In addition, laptops and tablets are often used for studying and lectures.
- Musical instrument cover is another extra feature that these policies will offer. This is obviously an important addition for anyone who is studying music, but even just having one in the house means that there is a high risk of it being stolen. Whether your instrument is simply a treasured family heirloom or vital to your studies, you should make sure it is covered.
But there’s even more! Room key cover will ensure that you get your key back quickly, efficiently and for a low cost if you lose it. If you’re living in halls, getting a new key can be particularly expensive.
In addition, tuition fee cover is available on some students contents insurance policies. This is a bit different and functions in a similar way to unemployment insurance. Essentially, your rent and tuition are covered if you fall ill and/or have an accident.
Individual cover vs comprehensive policies
If you’re a student and this is your first time venturing into the world of insurance, fear not. There are a lot of options out there, especially if you’re on a particularly tight budget. For some people, a student contents insurance policy is actually too much and they run the risk of being over-insured. For this reason, you may want to make a list of your most important and valuable items.
You may find that it is really only your laptop, tablet and smartphone that you need covered. So, instead of taking out a policy to cover more than you need, you can insure these items individually.