When you’re going away to university you not only have to worry about fitting in and getting to lectures on time, but you also have to learn about the independence that comes with living on your own- namely, protecting your valuables. Students are usually viewed differently by home insurance companies as they are living in big communal areas and are more vulnerable to theft, this means that now there are a wide range of different policies especially for students to cover possessions such as CD players, games consoles, TVs, DVDs and even things like text books and equipment you need for your course. They also still offer the standard cover against fire, flood and any other kind of damage. You can even insure your car on the same policy if you take it to university with you.
Lots of companies specialise in student insurance, such as Endsleigh, which promise to replace damaged items within 5 working days, and if they can’t they’ll loan you a free replacement until yours is fixed. You can get insurance tailored to your needs such as whether you’re living in a shared house or in student halls and cover can be from as little as £18. Endsleigh is the only student insurer recommended by NUS (the people who do your discount card and run your union!) so you know it’s one to trust. However, it’s still worth shopping around a little and seeing what you can find. Some universities offer their own brand of insurance for students or are affiliated with a certain company. The bank you opened your student account with for your loan payments may also offer some form of insurance as part of their deals, so when you go to set it up, ask about what sort of offers they have. NatWest offer insurance for their students and even offer cover for library books you borrow from the university.
It is worth checking, however, that your items aren’t already covered on your parents’ contents insurance as you may end up insuring the same item twice and wasting money, which, when you’re on a tight student budget is not something you want to be doing.