Contents insurance not a priority for two fifths of students in South East, claims study
As more than half a million students pack their bags for University this September, a new study by Co-op Insurance reveals more than two fifths don't have home contents insurance.
The study, conducted among UK University students found that 44 per cent of students from the South East don’t have home contents insurance and a sixth (15 per cent) simply don’t know if they have it.
When it comes to reasons for not getting contents insurance, a third (33 per cent) just haven’t got round to getting it while a sixth (17per cent) presume their landlord has it sorted.
Almost a third (32 per cent) of students calculate their contents to be worth between £1,000 and £2,499 and a quarter (24 per cent) estimate that their belongings are worth £2,500 or more.
A high proportion of students own valuable possessions, including a mobile phone (98 per cent), laptop (93 per cent), tablet (59 per cent), TV (56 per cent), jewellery/watch (49 per cent), games console (32 per cent), shoes/handbags (29 per cent) or designer clothes (24 per cent) and sports equipment (20 per cent).
With this is mind, one in 20 (five per cent) students from the South East have had their home broken into, and a third (35 per cent) admit to worrying about break-ins.
Furthermore, according to the research those living in a detached house are significantly more likely (51 per cent) than others to have experienced a break-in, which is concerning given that a quarter (27 per cent) of students from the region live in this type of property.
Contents insurance can also protect against fire damage, personal possessions, accidental damage and emergency repairs.
Caroline Hunter, Head of Home Insurance at Co-op said: “It’s concerning to see that as many as 44 per cent of students don’t have contents insurance, especially given the cumulative value of many of these properties, which are often made up of multiple tenants.
“Unfortunately accidental damage and theft does happen within student homes and so we would urge students to take out home contents insurance, which doesn’t have to be expensive but can often safe a whole host of hassle and expense in the future.”
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