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Students uncovered: many undergrads uninsured
Tuesday, 02 October 2007
Almost a third of students are likely to go to university without insurance, a new study has revealed.
According to research by Abbey Home Insurance, 30 per cent of students will start the new term without cover - despite having an average of £3,324 worth of possessions.
Students gave a range of reasons for running the insurance risk, with 14 per cent claiming their goods were not valuable enough to warrant cover and seven per cent admitting it was too expensive.
A further nine per cent either spent the money on something else or simply could not be bothered to arrange cover.
Underlining the need for student peace of mind, Prasad Shastri, head of insurance marketing at Abbey, said: "Even though finances can be tight while at university, with a potential total value of belongings in excess of £3,000, students should not be viewing insurance as an optional extra, but as a necessity."
She added: "For the one in five students who are hoping to rely on their parent's policy for protection, we would also advise that they double-check this as they may not actually be covered."