Before deciding whether you need specialist insurance its worth checking whether you have cover under any home insurance the parents have. You might need to check the cover you get and the limits, but possessions such as laptops and phones can often be covered both at home and when you are on the move through a home insurance policy.
However there are two reasons you might decide that specialist student insurance is a better bet.
Firstly it offers cover for things that would not be insured under a home insurance policy. The following benefits could be very valuable should you need to claim:
Secondly a claim on a student policy will not affect the no claims bonus that has built up on a parents home insurance policy.
Lastly the excess that needs to be covered can be a lot lower than on a home insurance policy.
What level of cover do you need?
if you are living at home, you may not need to cover the risks of a theft from your home - as long as the property has both building and contents insurance. What you might want to insure are items of value like your phone and pc as well as covering the costs of your fees should you fall ill or have an accident..
What special items might you want to cover with student insurance?
Bicycles, musical instruments sports equipment and gadgets such as tablets, phones or a laptop are all popular items to be insured. You are able to customise most policies to cover these items.
Cover4insurance are a major force in student insurance generally but have developed their Essentials policy which is designed specifically for those living at home.
Cover4insurance can also cover international students. This insures tuition fees of up to £20,000 and repatriation cover.
Endsleigh, which is the brand preferred by the NUS, offer a living at home option to their student insurance policies.
You can also choose to add up to £1000 cover should you need to reproduce your coursework or resit an exam.
Possessions can be protected anywhere in the UK and for up to 30 days worldwide.
The Insurance Emporium student possessions product continues to develop.
Tuition fees can be covered if you are unable to continue your course due to your own or a relative's illness or redundancy.
Cover the cost of replacing library books or other university equipment with the College Property on Loan option.
All the major banks offer student policies, and extensions from some home insurance policies are also available. Do note that your home insurance may have a much higher excess than specialist student insurance.
Are you just looking to cover some of your computer equipment or high value items?
Protect Your Bubble offer gadget insurance and are now offering a special 15% student discount and then a further reduction of up to 10 % off when insuring multiple gadgets. The first gadget insured but be under 6 months old, and other under 12 months old
Gadget insurance especially designed for students - with the added bonus that gadgets up to three years old can be covered - make sure you use the replacement cost of the gadget when you declare its value though.
Individual insurers will present you with more details but our concise guide is designed to will help you spot the most likely policies that should be on your short list.. Do read all the policy documents fully as well so you know what you will and will not be covered for and understand any exclusions that might apply - all policies have them!
This content was last reviewed on 31/08/2020