Nationwide Urges Students And Parents To Consider Home Contents Cover

With buying books, moving to a new home and meeting people just some of the many things involved with starting university, there is one particular area that students - and their parents - should keep in mind.

Such is the assertion of Nationwide, which reports that - as they prepare to say goodbye to their children - mums and dads across the country should remind them of the need to take out comprehensive home insurance for their student digs. The firm states that this is of importance as the contents cover parents have for their own home may not insure the items that their children keep while at university. In addition, it was reported that ensuring undergraduates have their own insurance policy was important as they are likely to take numerous expensive items with them. Such possessions were said to include the likes of a DVD player, television, computer, games console and stereo. It was reported such items could have a total value of more than 1,500 pounds.

Those students who lack a sufficient level of home insurance cover may find they have to dip into their own pockets - or ask their parents for financial help - to meet the cost of repairs and replacing items as a result of burglary, loss, weather damage and other events. In turn this could have an impact on their ability to manage numerous monetary commitments such as loans, utility bills and credit cards.

Robin Bailey, insurance director for Nationwide, said: “With the cost of tuition fees, accommodation fees and books to pay for, university is without doubt a very expensive experience for both students and parents. As a result, many parents may overlook the importance of their child having home insurance while temporarily away at university and take the risk that they will never need to make a claim. However, with expensive items such as computers, televisions, games consoles and stereos, student homes have become a prime target for burglars.”

In a bid to improve the security of their student accommodation, the financial services firm advised consumers to ensure that any locks which are broken or old are replaced. Meanwhile, it was claimed that possessions should be marked with the initials of the university which they attend and their student identification number. Furthermore, the hiding away of cash and valuable items from places within a room where they are easily visible was recommended.

Consumers - whatever their background - looking to improve the security of their property might wish to consider taking out a home loan. In doing so they could find they are able to purchase locks, lights and other safety equipment quickly, leaving them with an affordable rate of repayment. The monetary assistance that is provided by this type of loan could also help borrowers to take out a comprehensive home contents insurance policy. A home loan may also be of assistance to those looking to improve their garden, after Yorkshire Bank recently revealed that the average consumer thinks such a green space is worth over 9,000 pounds.

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