Student life

Am I covered under my parents’ home insurance?

When you’re preparing to move to university for the first time, insurance probably isn’t at the top of your priority list. However, it’s important to make sure your belongings are protected. It’s likely that you’ll not only have a phone, but also a laptop, as well as all of your other belongings, and unfortunately accidents do happen – especially during the excitement of freshers’ week. But are you covered under your parents’ home insurance, or do you need to take out your own policy?

Your parents/guardians’ home insurance

There is sometimes the option of covering your belongings under your parents’ home insurance policy whilst you’re away at university. However, not all home insurance providers will offer this, so it’s worth making sure. If they do, your parents will likely need to give their insurance company a call to extend their policy, and to double check exactly what is covered.

Whilst this is generally cheaper for students themselves, it’s not always beneficial for your parents. A claim under your parents’ home insurance could increase their annual premium at renewal next year. Not only this, but the excesses are also usually higher on home insurance than on a student contents insurance policy. That isn’t factoring in the potential cost involved with adding your items onto the policy in the first place, if they aren’t already covered.

It’s also worth considering whether your parents’ home insurance will cover you away from your halls of residence (if you took your laptop to a lecture, for example). It could well be that your parents policy will only cover your items whilst they are in your room – so again, it’s a good idea to check this with their insurance provider to make sure you’re protected for every scenario.

Student insurance

There are lots of insurance options available specifically for students that protect you as you enter the world of university. Whilst it may seem like an easy option to assume you’re covered under your parent’s home insurance, taking out your own policy gives you total control over your insurance. It allows you to amend the types of gadgets on the policy, meaning you don’t have to give the policyholder a call every time you upgrade – you can do it yourself. It’s also beneficial in that you can select your own cover, giving you the option to add on accidental damage – a life saver for students on a night out!

However, aside from obtaining cover under your parents’ home insurance, or taking out your own policy, you might also want to check what cover is being provided by your halls of residence. More often than not, your university will provide an element of insurance for your items whilst you’re living in halls. However, this usually only covers your belongings whilst they’re in your room, so it will be worth exploring what options are available to protect your items whilst you’re out and about.

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