Students have been warned to tell their car insurance providers about any changes in circumstances they face when going to university.

Mike Powell from Defaqto said that students need to be careful when at university because their insurance policies may be invalidated if they do not keep their car insurance providers informed of their circumstances, such as where their car will be parked. "Failing to do this may mean that your insurer could refuse to deal with any claim made under the policy," he said.

He also highlighted the need for students who are taking their vehicles with them to university to make sure their vehicle registration details were updated as this is a legal requirement.

A recent survey by the Children's Mutual showed that families are thinking about their children's higher education earlier and earlier, with some children as young as 11 already saving for their university degrees.