|
 
Average
undergraduate has more than £3,500 worth of belongings in student digs __________________________________ 21st
September 2009 Average
undergraduate has more than £3,500 worth of belongings in student digs •
One in three (34%) undergraduates has no home insurance cover for their belongings(1)
• Over 400,000 new UK-resident undergraduates(2) are admitted to universities
each year •
Parents with Sainsbury’s Home Contents Insurance can extend their policies to
cover up to £5,000 of student belongings at university New
research from Sainsbury’s Home Insurance reveals that the typical undergraduate
each has an average of £3,548 worth of belongings in their student accommodation(1).
The high figure placed on the value of their belongings reflects the average student’s
typical possessions, which includes not just high-tech items such as laptops,
computers, iPods, DVD players, digital cameras, TVs and Hi-Fis, mobile phones,
but also other expensive items including jewellery, sports equipment, course textbooks
and bicycles, as well as the more mundane everyday items such as books, CDs, toasters
and kettles.
Given that a student house with just four students provides more than £14,000
worth of rich pickings for any opportunist burglar, it is worrying that Sainsbury's
Home Insurance has found that just one in three (34%) undergraduate students claims
not to have their belongings covered by a home insurance policy, and a further
10% do not know whether they have cover or not. This means there is a total of
around £573 million worth of uninsured belongings lying in student accommodation
in the UK(2).
With the number of accepted applicants to UK universities having increased by
21% since 2003(3), there are estimated to be over 475,000 households in England
and Wales who have students currently studying away from home(4). Sainsbury’s
Home Insurance urges parents with students away at university to check to see
if their children’s belongings would be covered in the event of loss or theft,
or other events such as fire, smoke damage or flooding. Even though some halls
of residence offer insurance cover as part of the accommodation fees, it is essential
to check that the level of cover offered is sufficient. Sainsbury’s Home Contents
Insurance provides up to £5,000 cover for students of the household who are living
away from home(5).
Ben Tyte, Sainsbury's Home Insurance Manager commented: “With an estimated one
in three students falling victim to some sort of crime each year(6), it’s worrying
that so many students go off to university without any insurance cover in place
for their possessions. However, before splashing out on insurance, students should
certainly check to see if their parents’ household contents insurance policy might
provide cover whilst they’re studying away from the family home, and also to check
that this cover will be adequate should they need to make a claim.”
As well as reviewing their home contents insurance needs, Sainsbury’s Finance
says students should also take steps to reduce their chances of becoming a victim
of a burglary, and offers the following advice: •
Make sure that windows and doors are properly locked when you go out •
Ensure that all locks are adequate •
If in shared accommodation, make sure that you have a lock for your room and use
it when you go out •
Mark your name and address on your belongings with an ultraviolet pen because
if they are stolen and recovered by the Police, they should be able to return
them to you •
It’s sensible to mark your property with the initials of your university (e.g.
NU - Nottingham University) and your student ID number - this makes it harder
for a burglar to sell stolen goods and can help the police to return items to
you Undergraduate
students in universities in the South West region claim to have the most valuable
belongings with an average of £5,122 per student. Students in South East universities
have the lowest value, each having on average just £2,669 of belongings in total.
Given the high cost of living for students in London, it is maybe not surprising
that this group represents the highest percentage (48%) who claim not to have
their belongings covered by a home insurance policy. About
Sainsbury’s Home Insurance: As well as being competitively priced, the bank
also offers an extensive range of cover and benefits. This includes:
• Unlimited buildings cover •
Unlike some home insurers, Sainsbury’s does not apply charges for customers paying
their premiums by direct debit
• Maximum no-claims discount of up to 30% •
No-claims discount protection(7) •
Cover for accidental damage - even by pets(7)
Notes about this release: (1) Fieldwork for this research was conducted
on behalf of Sainsbury’s Finance by Opinionpanel Research between 23rd and 28th
July 2009. The sample consisted of 1,000 interviews with students at 134 Higher
Education (HE) institutions representative of the UK HE population in terms of
gender, year group and university type. (2)
Calculated by multiplying 475,000 students(4) by £3,548 of belongings each(1)
by 34% which are uninsured(1)
(3) UCAS data http://www.ucas.com/he_staff/stat_services1/stat
(4)
Office of National Statistics http://www.statistics.gov.uk/STATBASE/Expodata/Spreadsheets/D7519.xls
(5) Can be added to the parent's home contents policy at an additional premium.
Certain exclusions apply. Theft is excluded unless there is evidence of force
and violence to gain access to the property.
(6) Home Office http://www.homeoffice.gov.uk/crime-victims/how-you-can-prevent-crime/student-safety/
(7) This is optional and requires an additional premium. Source
Sainsburys Bank More
Information at
Website
Looking
for Insurance for Students? Click on logo 
Looking
for Car Insurance for Students? Click on logo 
Please
note, all details on any of the Insurance industry Press Releases displayed on
this site are provided by insurance companies, organisations, Government departments
and media and jml Property Services does not take any responsibility for their
content or accuracy. Return
to insurance Indusry Press Releases See
Also jml
Insurance Press Releases Insurance
Industry Press Releases 2009 Insurance
Industry Press Releases -2008 Insurance
Industry Press Releases 2001 -2007 Independent
insurance Articles jml
villas.com Press Releases jml
villas.com / euro-rentavilla.com Media Coverage jml
Training and Consultancy Press Releases 
Back
to top | 
