Home insurance Updated:
Students have been told to make sure all their possessions are insured when they move into their new student digs.
New research has revealed students in the UK keep over £3.3 billion worth of possessions in their digs but over £1.7 billion of it is uninsured.
The shocking figures from Santander highlight the extent of underinsurance amongst undergraduates and show why students are such a popular target for thieves.
The average student keeps £2,076 worth of goods in their student digs but just over half - around £1,100 worth - of these are not covered by insurance.
The research reveals that there are around 1.6 million mobile phones, 1.5 million laptops, 1.3 million MP3 players and 1.3 million cameras lying around in student digs in the UK.
Yet four in five students are not fully covered, and one in three have no cover for these possessions at all.
"Students take an increasing number of mobile phones, laptops and other gadgets to university which can be very expensive, yet a large proportion of them still don't take adequate precautions by ensuring their possessions are insured," said Helen Bierton, head of Santander current accounts.
"Indeed, many assume that they are covered by their parents' home insurance when they move away to university but this isn't always the case and therefore students should check to see exactly what cover they may have.
If you're a student worried that your possessions might not be covered or simply feel you're overdue for a review of your home insurance policy, why not get an up to date quote using our home insurance comparison tool.
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