Insurance homework a priority for uni students
As thousands of students prepare to head to university, a new survey has revealed that the average student bedroom contains a massive £1620 worth of gear - yet only half of students have contents insurance.
The poll by M&S Money found that the average student crams into their room almost £699 worth of electrical gadgets and appliances, £444 worth of clothes, sports equipment valued at £246 and textbooks worth £231.
The huge value of a student's bedroom is not surprising, with over half of students (55%) owning a laptop, 48% possessing a MP3 player and 20% a widescreen television.
The survey also revealed that 27% of students have been burgled while at university. Worryingly of those students, 71% have been burgled more than once.
Despite this, only 52% of students who took part in the survey said that they have insurance to cover their possessions whilst the items are in their student accommodation.
M&S Money is reminding students that many people heading to university will not need to buy a standalone student policy and should check if their parents' home insurance policy provides sufficient cover.
Students whose parents have M&S Premier Home Contents insurance enjoy unlimited cover for their possessions while living in student accommodation. This covers events such as damage, flood or theft from halls.
The student bedroom of 2010 is very different from student bedrooms of the 80s. To mark the 25th anniversary of the launch of the financial services arm of M&S, M&S Money surveyed students who went to university in 1985 to find out their most cherished items.
While today's students listen to music through their MP3 player and stereo, students in 1985 enjoyed the sounds of Wham and Tears for Fears through their Walkman, ghetto blaster and turntable.
In the same year that ‘Back to the Future' hit the big screens, the students of 1985 were watching the first episodes of Eastenders on their black and white TVs.
Andrew Ferguson, M&S Head of General Insurance, said: ‘While the contents of a student's bedroom have changed a great deal in the past 25 years, one thing remains the same - they have expensive tastes!
‘Students of 2010 preparing for the new academic year may see insurance as an unnecessary expense on top of everything else. But as our survey shows the modern day student bedroom is a goldmine for thieves, so insurance could be the best investment students make this autumn.
‘Many students would be surprised to know that their valuables may already be covered - they just need to check whether their parents' home insurance policy covers their property when away from home."