Students are advised to swot-up on their insurance options when moving into University halls.
Cash-strapped students often skip on insurance due to the high price of tuition fees, a move that may prove more costly.
“Whilst it is tempting for students to get carried away with partying and meeting new people, they can be a prime target for theft and burglary,” says Peter Harrison of MoneySupermarket.com.
Car and contents cover is recommended for all students due to the likelihood of laptops, mobile phones and MP3 players being lost, stolen or damaged.
First-years moving into new cities can be seen as an easy target for thieves as they do not know the area.
Some companies offer individual cover specifically for students but students should also look into being added to their parents’ policy.
Taking a car with you can be the most costly part of going to University as location heavily influences premiums. The cost of running a vehicle can also mount up for students on a budget.
“Those who do decide to take their cars with them should notify their insurer so they can amend their policy details to reflect their change in living situation,” said Peter Harrison. “It is crucial students getting behind the wheel shop around for the best car insurance deals to guarantee their money stretches as far as possible.”
Tuition fees can now be in excess of lb23,000, putting a lot of strain on students financially.