With the new academic term set to begin, Nationwide Building Society is urging parents to ensure their children have adequate insurance when attending university this year.
Parents could potentially avoid paying more to insure their children if they check that their current policies provide cover for their possessions while away from home, the firm said.
Robin Bailey, insurance director at Nationwide, stated that when taking accommodation costs and tuition fees into account, university can prove to be a "very expensive experience".
"As a result, many parents may overlook the importance of their child having home insurance while away at university and take the risk that they will never need to make a claim," Mr Bailey warned.
Students are often "prime targets" for thieves, so parents ought to ensure that their children's possessions are adequately insured, he added.
Peter Gerrard, head of insurance research at moneysupermarket.com, recently suggested that covering students' belongings under their parent's policy is a simple way of saving "much needed cash".
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