Sainsbury’s Finance is offering up to £5,000 worth of home insurance cover to students living away from their homes, as an added feature to its contents insurance policies.

Home insurance, also known as homeowners insurance or hazard insurance, is an insurance that covers private homes. It combines personal insurance protections including losses occurring to insurer’s home, home contents and personal possessions. It also covers liability insurance for accidents that may take place at home.

The leading company providing a range of financial products including insurance, savings, credit cards and loans online and over the phone, has stated that it’s new feature covers possessions of family members staying away from home.

Sainsbury’s is urging students to confirm whether their parents’ home insurance policies are covering their belongings when they shift to university digs, away from their homes.

According to research from the finance provider, an undergraduate in the UK stores an average of £3,548 worth of belongings in his/her university accommodation.

It also revealed that nearly 33% of students don’t have insurance cover for their valuables and state-of-the-art gadgets.

Sainsbury’s home insurance manager, Ben Tyte, suggests that students should check without fail whether their parents’ home insurance provides cover to their belongings when they are staying away from home for studies.

It also provides no-claims discount of up to 30% on home insurance, cover for damages due to accidents and doesn’t charge customers for availing direct debit facility for payment of premiums.