Students may be taking an unintended financial gamble by not having adequate contents insurance policies according to one insurer.
Endsleigh made the comments after carrying out a survey that found the average student has £337 of gadgets with them at university and is 60 percent more likely to make a claim than the average policyholder. It said there were two main issues that could leave students without the cover they expected.
Firstly, some students believed they were covered by their parents' home contents policy. In many cases this isn't correct as the policy only covers one address and, even where there is provision for items being lost or stolen away from the property, this doesn't always apply when the student is living elsewhere rather than simply being on holiday or going out and about.
Secondly, students need to read the small print whether they have their own policy or are using cover from their parents' home insurance. Many policies don't cover students living in halls of residence or shared houses unless the covered items are kept in a room with a separate lock, and will only pay out where there is sign of forced entry into the room itself.