Following recent news that the average students' personal property is becoming more expensive, Moneysupermarket.com has advised students of a way to insure their hi-tech gadgets on the cheap, or even for free.
According to the internet comparison site, many of the larger insurance companies have started to include clauses in their home insurance policies that will allow parents with children at university to claim for loss, damage or theft of property while their children are living away from home for their studies.
Peter Gerrard, Moneysupermarket.com's senior researcher, said that it was worth looking around for deals like this as the savings could be substantial.
"Unlike other areas of student life, insurance should not cost the earth," he noted. "In fact, it may not cost anything at all if they are able to take out cover under their parents' home contents policies.
"It's easy to do and will save much needed cash at a time when budgeting is tight. The cover includes up to £5,000 worth of possessions or 15 per cent of the sum insured on the parents' policy (normally about £30,000, therefore providing insurance for £4,500 worth of possessions).
"This should be enough to cover most students' collection of lifestyle gadgets, study tools and general possessions," Mr Gerrard concluded.To read more about insurance, click here.
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