Empty nests and insurance

August 20, 2015 6:05 am

So it’s nearly that time of year when mothers and fathers up and down the country suddenly face the prospect of an empty house as their ‘babies’ head off for university. Amid all the excitement of packing them up for their first term of freedom, something you should consider is taking out insurance cover for them.

According to moneysupermarket.com, young people are three times more likely to be burgled, and one in three university students are the victim of crime. So this makes it all the more important that they have the right insurance cover.

Sometimes students can be added to their parents’ home insurance but this isn’t always the case and, even if it is, quite often there are a lot of restrictions imposed. It can actually be cheaper for students to have their own cover, but it’s not necessarily the specialist student insurers who provide the best deal. As always, it’s best to shop around – but read the small print to make sure the policy does provide the cover you need.

Moneysavingexpert.com has an excellent guide to how students can manage their finances, and included in this is how to find the right insurance: it’s section 21 on this page.