There are two types of home insurance: buildings and contents insurance. If you rent a room in a student house or halls, you will only need contents insurance; whoever you rent from should have buildings insurance, which will cover the building itself.
As with any policy, contents insurance comes with exclusions, restrictions and conditions. Some products will also cover accidental damage, which could be invaluable if you have any breakages. But it’s worth double-checking that this is definitely included in the policy, rather than an add-on that you’ll need to pay extra for.
Other elements to check include:
- Whether you need to have a particular type of lock on your room
- Whether the policy includes possessions cover outside the home. If it doesn’t, this additional cover could be available as an optional add-on when you take out your contents policy (but you may need to pay extra)
- Whether walk-in theft is covered. This would allow you to claim for a burglary even if there’s no sign of forced entry, for example, if you live in student halls and someone lets in a burglar during a party.
You should check the policy cover to make sure you have the right cover to meet your needs, such as protection for your computer, data or any favourite gadgets that you can’t live without. You may also want to make sure your belongings are covered during the holidays, as well as in term time.
Finally, you should also look into how long it will take to get stolen or damaged items replaced. As a student, you can’t afford to wait months for a new laptop when your final dissertation is due.