Student Possessions Insurance

Basil_Fawlty

I received a call from Endsleigh asking if I was renewing my policy. I had laptop cover on it last year which cost me around £60 but this year my Pentium M 1.6 Ghz is not really worth insuring considering most centrinos are dual core and that Endsleigh will only replace my laptop with a similar spec.

The quote for this year, for £2,500 contents, accidental damage, and full laptop theft cover is £57.95. Without the laptop cover (so just the contents and accidental) is £23.75.

I'm not sure it's worth insuring the laptop because in case of damage/theft all I'm going to get is a replacement similar to mine which isn't going to cost that much really considering it's outdated technology. The other option is reducing my laptop cover (currently insured for £600 which was initial price) as they charge £6 premium for each £100 of insured laptop. Hence the laptop costs £36 to insure. I'm thinking if it only costs, say, £300 to buy a replacement for my laptop, and seeing as that's what they'll do, can I just insure it for £300?? the sales person said it's safest to insure for £600 but of course he'd say that he's a salesman! :rotfl:

Advice appreciated and if anyone knows of other companies doing this (especially if there's cashback available! ) please let me know.

:beer:

Basil_Fawlty

Judging by the 50 views and 0 replies, does this mean everyone gets insurance from endsleigh??

Basil_Fawlty

Please anybody could you suggest whether it's a good idea to insure it for just £300 or so as that's only what it's worth?

mhoc

We are insured with tesco and when I rang them thye said our insurance covered my daughter if her room gets broken into, it has a lock or if she is robbed when out and about, no extra cost

Mary

jennifernil

Yes, often your parent's home insurance will cover "items temporarily removed" , I know ours does as I checked that specially. It covers all our daughter's stuff including laptop, clothes etc. We are with Halifax, and last year we were with M&S and it was the same.

AliceTickband

It's very important to check very carefully what's covered in different insurance policies. For example, Endsleigh will cover 'walk in theft' which many other insurers won't.

big_d_4

endslwigh also claim to be the only insurance company to cover students in rented accomodation.

and when you go onto cofused.com and click on student contents its the only one that comes up.

firespire

big_d wrote:

endslwigh also claim to be the only insurance company to cover students in rented accomodation.

Rubbish, see-
http://www.eandl.co.uk/insurance/student
http://www.natwest.com/personal02.asp?id=PERSONAL/INSURE/STUDENT_BELONGINGS_INSURANCE
http://www.saxoninsurance.com/
http://www.cover4insurance.com/student/index.html

rhig

To those considering using parent’s home insurance you have to consider the implications this has for them. You should realise that your parents will lose their no-claims if you make a claim, they will also most likely have a higher excess. Item value limits are also very important, as has been said student insurance covers you when your door is unlocked.

I don't usually bother with student insurance; if you have an expensive laptop or instrument it will be wise and cheaper to insure it separately. Other contents insurance is more optional, it’s unlikely you will have a lot of clothes or lower value items stolen, especially enough to make a claim. Of course student insurance is great if there is a fire and you lose everything but a lot of possessions aren’t really worth insuring in my opinion, the risk is far lower than the insurance companies claim.

You will also have to keep paying insurance for your mobile phone etc, as the student policies are not comprehensive enough to cover a lot of situations phone insurers will.

ohit

I found Barclays and HSBC to be the cheapest for student belongings cover.

Basil_Fawlty

Thanks for those replies :beer: I've insured my laptop for £300 as they said "they get one of a similar brand and spec". However as mine's a now obsolete Dell Inspiron 6000, I assume they'd get a 6400 instead anyway I'll get a new replacement which is what matters.

It cost £40 which isn't bad considering the accidental damage to my contents and only £25 excess and no impact on my parents home policy :T