Students are very vulnerable to crime - but many are underinsured for home thefts.
Students living away from home are not covered by their parents' home insurance in one out of every four cases, it has been revealed.
A study from Sainsbury's Home Insurance shows that 100,000 households in England and Wales could be affected by this insurance gap. Moreover, the research found that levels of protection for those students who are covered by their parents' insurance varies widely across the market.
For example, Sainsbury's said that around 34 percent of all products cap protection at £3,750 or less, meaning that any items stolen from a student house or flat which exceed this figure in value cannot be claimed for. More surprisingly, 11 home insurance products currently on the market were found to cap at £1,000.
This is especially worrying, as students are generally considered to be one of the most at-risk of all groups in terms of home thefts.
Indeed, one in three undergraduates and postgraduates fall victim to crime each year - with burglaries the most common kind.
Neil Laird, Sainsbury's Home Insurance manager, commented: "Unfortunately students are frequent targets for crime so it really is essential that they make sure they have the appropriate cover in place before they go off to college or university. The average student will have possessions that would cost thousands of pounds to replace if they were burgled, which the vast majority of students just could not afford to do.
"Students should check their parents' household contents insurance policy to see if it provides cover whilst they're studying away from the family home, and also to check that this cover will be adequate should they need to make a claim."
