Students often best to insure with mum and dad

Millions of university students should turn to mum and dad for insurance cover rather than taking out a separate policy, says leading rural insurer NFU Mutual.

As record numbers of students leave for university this autumn, so too will expensive possessions including laptops, ipods, mobile phones, games consoles and TVs worth several thousand pounds on average to each undergraduate.

While insurance is unlikely to be at the top of students' priority lists, parents can help their children save money before they even move out by checking whether their existing home contents insurance covers their treasured possessions.

Paul Richardson, home insurance specialist at NFU Mutual, said: "Further education can be an expensive outlay for students and parents. Parents can help save precious pennies by checking whether their children's belongings are already covered by existing insurance on the family home.

"Out of all home contents policies on the market, four in every five provide some cover for student possessions as standard, but it's worth checking the amounts insured too. In the case of a break-in, NFU Mutual's home contents insurance will cover loss or damage to a student's belongings by up to 15 per cent of the value of their parent's policy."

Once student accommodation becomes stuffed full of high-value possessions, it can often become rich pickings for criminals. This could leave uninsured students facing a hefty bill to replace stolen equipment when money is tight.

Richardson concluded: "Whether student possessions are covered under a parent's policy or an individual policy, it's imperative they are fully covered. Making sure expensive or prized belongings are protected in this way will help avoid the financial impact of having to replace damaged or stolen items."

Five top tips for safeguarding student belongings

Mark belongings to help track them in case of theft and take photos of anything expensive in case you need to make a claim

Check the security of accommodation and raise any concerns with the landlord or halls of residence

Be particularly careful when sharing accommodation as insurers typically pay theft claims when there is forcible entry into the room

Make sure valuables are not left in full view if leaving them in your room when you go out

Call Crimestoppers on 0800 555 1111 if you see anything suspicious