Student finance customers should check parent insurance policy

Thu, 01 Sep 2011

Those worried about student finance should explore their options in terms of insurance cover, it has been claimed.

Moneysupermarket.com suggested that those starting university check to see if they can tag onto their parents' cover.

The online resource noted that the latest figures show the average graduate debt has now reached more than £20,000, meaning student finance is more important than ever.

It said that contents insurance is a must for all students, thanks to the plethora of laptops, TVs and other expensive items that now furnish many university flats.

However, some insurers extend the same level of cover provided on a parent's policy to their children's university accommodation at no extra cost.

Moneysupermarket.com insurance expert Peter Harrison noted that young people starting in higher education might be wise to look after their possessions.

"Students are a prime target for theft and burglary and many will have a number of expensive electrical items which will need protecting, so foregoing insurance could prove a false economy," he said.

Meanwhile, moneysupermarket.com recently noted that Brits have been dipping into their savings to help get by, thanks to increased living costs.
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