Student insurance ‘need not lead to debt’
Article Category: Debt Management Help and Advice
Insuring possessions while at university need not create personal debt - and may cost nothing at all - according to Nationwide.
The financial services provider notes that many home insurance policies will include cover for students’ possessions as standard while they are at their term-time address.
As such, parents need not add to their debt problem by arranging additional cover for their offspring as they head off to their academic life.
“University is without doubt a very expensive experience for both students and parents,” concedes Nationwide insurance director Robin Bailey.
“If cover is provided under their own policy parents can make sure their child’s possessions are protected while in their student accommodation without extra cost,” he adds.
Tips given to students looking to avoid the debt of replacing stolen items include locking doors and windows while out of the house and marking all possessions with an ultra-violet pen.
Mr Bailey has recently done a parachute jump, taken up golf and bought “the most expensive drum set he could find”, according to Nationwide.
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