Do you live in a college building with lots of students who have laptops, tablets, smart phones, and other gadgets? This makes you an easy target for theft, which is why your belongings should be insured. Let’s look at why content insurance for students is important and what you need to consider.
Wait, Does My College’s Insurance Not Cover It?
Your college or university may provide a very basic level of insurance which won’t cost anything. However, often insurance policies only cover certain items and there are plenty of exclusions. For example, if you leave your laptop unattended in a communal area even for a few minutes and it’s stolen, it may not be covered. The same goes if you leave a device in your room and the window or door is open.
So with that in mind, arranging your own content insurance is probably the best way to get peace of mind that your items are protected.
What is Content Insurance for Students?
Content insurance is insurance that covers your personal belongings in case of loss, damage, or theft.
A basic policy should insure you against theft, loss, damage (including water damage), and serious weather events like earthquakes.
If you have other valuable items like a laptop that contains your coursework and software, a mobile phone, or camera, it might be worth paying extra to cover damage that may happen when you’re away from your accommodation.
Content Insurance: What Do I Need to Know?
Some items are more expensive to insure
Got a bike to get to class? Is your laptop your most prized possession? These things tend to cost more to insure, so you’ll have to pay extra on top of your policy. Make sure you’re insured against things like accidental damage when you’re out and about.
Live in a shared house?
If you don’t live in university accommodation and stay in a house owned by a private landlord, here’s what you need to know.
You don’t need to pay buildings insurance
Basically, that’s the landlord’s responsibility. Whatever belongs to them, it’s their job to insure. However, that doesn’t mean you can get away with causing damage in the house. Your landlord has the right to ask you to pay for it rather than claiming on their insurance.
You DO need to arrange content insurance for students
Put simply, anything in the building you own is your responsibility. Always get your own insurance for peace of mind.
What Does Content Insurance Cost?
There are plenty of insurance providers that offer reasonably priced student content insurance. Cover4Students is a great option for UK students with a variety of cover available. Otherwise, banks often offer insurance cover if you open a student bank account with them.
How to Keep the Cost of Content Insurance Down
- Work out what you absolutely need to insure and make a list.
- Get lots of quotes to make sure you get a good deal. Don’t be afraid to negotiate either! If you’ve found a deal cheaper with one company, tell the next one you call and they may try to match it.
- Take care of your belongings. If you don’t keep your building or room secure, or you have one too many drinks and keep losing your phone, you’ll have to make a claim. Then your insurance gets more expensive.
- Try to pay for your content insurance for students yearly. Most annual coverage is cheaper than paying monthly.
- Remember to read the terms and conditions. How many times have you not read the small print and been caught out? Make sure your insurance policy covers everything you need it to cover and you won’t get any nasty shocks later.
My Parents Have Contents Insurance-Won’t that Cover My Stuff?
If your parents have home or contents insurance, you might be covered so it’s worth checking. If not, ask them to see how much it would cost to add you to their policy. It might end up saving you lots of cash, which is never at bad thing when you’re at college or university.
So there you have it, if you’re at college or university or you’ll be heading there soon, arranging content insurance for students needs to be on your list of things to think about!