First, the ABI suggests checking if you are covered already. Some student halls might already include insurance, or your parents’ policy might extend to you.
If not, there is the option of buying contents insurance.
“This type of policy covers the cost of replacing or repairing your possessions if they are damaged, destroyed or stolen – giving you peace of mind that you’re protected should something go wrong,” the ABI said.
You must check how much you’re covered for and whether it’s enough to replace everything, including the maximum value of a claim on a single item.
You can do this by creating an inventory of all of your contents, including clothes, electronics and furniture, and adding up the cost of replacing each item.
You might need to pay extra to cover a nice bike, or to cover items that you take out and about with you rather than leave in your accommodation.
And, if you’re driving, make sure your insurer knows the car is kept somewhere new.
If it is your parents’ car and you are now the main driver, you have to inform the insurer. It’s illegal if you don’t.
