Home Insurance - Student claims to rise in recession - 18/01/2010

A home insurance firm has revealed that students returning to university after the New Year could get more than just a bad hangover.

The provider has predicted that there will be a rise in the number of claims made by higher educated individuals, when they return back to their residences after Christmas.

This is because students own more expensive consumer goods than the average household, with the typical bedroom containing around £3,500 worth of goodies for thieves.

Steve Chelton, Insurer development manager at the provider commented: “Thieves know that student residences are likely to be unoccupied over the holiday period, making them a perfect target. Many students choose not to take out contents insurance to save money, however it is important to remember that a short-term saving could prove costly in the long run.

“Contents insurance provides valuable peace of mind should the worst happen. We urge all students to ensure that their possessions are protected against theft and damage, especially during the holidays and if possible, take any valuable items home.

“Students can often take out an add-on to their parents’ policy but they need to check the policy documents as some insurers only cover vacations of up to 35 days.”

Burglaries have increased by 4% since the financial downturn hit.

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