Young Driver
Students issued insurance warning
Tue, 27 Sep 2005
A warning has been given to UK students today about insurance costs once they leave home for university.
Insurance company Hiscox pointed out that students own more high-value items such as cars, laptops and iPods than many adults, leaving them open to an increased risk of burglary.
The insurer calculated that an average student can easily own more that £2,000 worth of possessions, a total that could amount to much more if the student has chosen to take their car with them to university.
Hiscox stressed that is was vitally important for students to carry adequate car insurance as well as other types of cover to protect their possessions in the event of loss or theft, but that many students failed to do so.
The average student could find themselves losing out by failing to pay a few extra pounds to cover themselves, according to the insurance specialist.
"Students have very little cash to spare these days and they need to save money wherever they can," said Hiscox director, Kevin Kerridge.
"However, with high burglary rates in many student areas they can ill-afford to take risks with their possessions and go without insurance," he told myfinances.co.uk.
The company also pointed out that students should consult their parent's insurance policies to see if they were covered inclusively before taking out stand-alone policies of their own.
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