Over £600 of students’ valuables at risk while at university, research reveals

• Students’ belongings at university average at £1,672, leaving much of it uninsured against loss or theft
• Yet, over half (53%) of students living in rented accommodation have no home contents insurance, leaving belongings at risk
• Mobile phones (83%), laptops (83%), headphones (66%) and tablets (54%) top the list of the most popular high-value items owned by students
• Nearly 3 in 10 (28%) students admit to never thinking about insurance
• Experts at Confused.com home insurance have developed a home contents calculator for students to work out how much cover they need while they are away at university

As students head back to university this month, many are unaware of the potential risks facing their belongings once they arrive. New research reveals an average of £622 of students' belongings have been damaged or stolen while at university.

That’s according to new research from Confused.com home insurance experts who found that almost half (49%) of students experienced accidental damage (27%) or theft (22%) of their property.

According to the research, over a quarter (27%) of students have experienced accidental damage of belongings while at university. And over a fifth (22%) of students have experienced theft. With the risks clear, it’s important for students to take action to avoid being left out of pocket.

Students are risking their belongings, sometimes without realising. On average, students' possessions are worth £1,672, but many are prepared to leave their items uninsured.

Yet, the research found that over half (53%) of students living in rented accommodation have no home contents insurance.

Home contents insurance is a policy covering students' belongings while they are living away from home while studying at university. This covers students' possessions from loss, damage, or theft as well as covering against break-ins, fires, or flooding.

The research reveals that mobile phones (83%), a laptop or computer (83%), headphones or Airpods (66%), or an iPad or tablet (54%) are the most popular high-value items owned by students.

Consequently, gadgets top the list for the most common student items damaged or stolen, as laptops and computers (30%) and mobile phones (29%) are the most at risk.

With the ownership of students’ items and the high costs associated with these, it’s important to make sure they have appropriate cover to safeguard their belongings. And without contents insurance, students could find themselves having to pay out hefty amounts to repair or replace any possessions that may get damaged or stolen while living away from home.

Despite the importance of cover, nearly 3 in 10 (28%) students admit they have never thought about insurance while at university.

The cost of home contents insurance has put over a fifth (21%) of students off because they believe that it’s too expensive. However, students are paying an average of £78¹ a year for cover. This equates to roughly £1.50 a week, which is a small price to pay for the peace of mind and protection it brings.

With the average cost of replacing a stolen phone being up to £1,500², and replacing a laptop costing the same³, students may find themselves out of pocket by up to £3,000 if two of their most valuable items were damaged or stolen.

Yet, according to the research, more than half (57%) of students say their university never mentioned the importance of home contents insurance.

With shared housing having less secure entrance points and security measures, students in this accommodation could be attractive targets to potential intruders.

With multiple high-value items common in shared housing, it’s important that students take precautions to keep their belongings secure through everyday measures as well as home contents insurance.

And with various people coming in and out of shared housing, not to mention houses being unoccupied during holidays, students should remain vigilant to potential risks.

There are precautions students can take to protect their belongings, including:

• Keep high-value items secure and in a safe place so they aren’t on show, risking attracting potential intruders
• Make sure all doors and windows are locked when the house is empty to avoid any risks to their belongings being damaged or stolen
• Marking your own belongings with your name or phone number can help police return any stolen items

It’s important for students and families to understand the importance of home contents insurance and how much cover they should be taking out to sufficiently protect their belongings.

Matthew Harwood, a home insurance expert at Confused.com comments,

Students and parents can find more information about student contents insurance on Confused.com

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Notes to editors