Student Contents Insurance and What most people don’t know about it.
Most young adults headed to college, or university, do not understand why it is important to take up a student contents insurance cover. Perhaps it is a fact that most assume that t hepossessions they take with them to school are not that valuable. According to recent statistics, the average university student carries with them valuables worth more than $4,000. Items owned by almost all students and which cost a lot of money include laptops and mobile phones. Additionally, the small things carried to school by students usually end up summing up to quite a lot of money.
Student contents insurance helps to compensate a student in the case that they suffer damage from the loss of their property while on school grounds. Loss could come about as a result of theft, fire, natural disasters or even unavoidable accidents. Most insurance companies will not agree to combine the parents’ home insurance with that of students’ contents insurance. Arguably, there are several, conflict of interest, factors that arise. Firstly, this could end up being much more costly for the parents if they decide to combine their son’s/daughter’s student contents insurance with their home insurance. This is because in most cases, it turns out to be cheaper when home insurance is taken up separately from the student contents insurance.
What’s covered and what’s not covered in a student contents insurance?
As with majority insurance policies, student contents insurance has some things covered while others are not covered. Insurance companies will exempt some items from coverage on the basis that they would lose to much money working on compensations. In other cases, the items in questions could be quite expensive and thus not coverable by insurance companies. There are several insurance companies that do not agree to insure instruments used by students in school. Others do not cover bikes. One common thing, however, is that most of them will have different policies which cover different items in the student content insurance policy. Some items are stolen regularly or spoilt all too often and as such, demand a higher amount of premium. In general however, with a little research and asking about, a policy known as student content insurance covering almost anything one can think of would definitely be available (but at a different price, of course!)
Some students prefer to make a one-off insurance payment of student content insurance to cover a certain period, usually a term or year, while others prefer to make monthly or periodic premiums as they find accommodative. Several factors play in while insurance companies are determining premiums payable for student contents insurance. There are things that a student could look out for before joining college or university to help in keeping premiums at a minimum. A university that seems to be open to almost anyone and without any form of security e.g. security guards around the premises or security cameras surrounding the property would definitely attract very high premiums. This is because without a doubt, chances of theft would be high in such a place. Comparing several insurance company quotes and researching on the quality of their services is also an advisable way of getting an affordable and reliable student contents insurance company.
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