Thieves Set Sights On Student Digs

As students around the country begin to make preparations to head off to university, esure has highlighted the risk of theft posed by living in shared accommodation.

July 29, 2008 (FPRC) -- In a recent report, the group explained that thieves often targets digs because they commonly contain a number of valuable possessions. The insurer indicated that the average student dorm room contains almost 1,500 pounds in personal possessions. Meanwhile, nearly a tenth (nine per cent) will have gadgets and designer accessories in excess of 3,000 pounds. As such, the group warned that it is essential to make sure that such items are covered under an insurance policy. Students who fail to do so may find they are forced to rely on tenant loans or savings to pay for the replacement of items such as laptops, mp3 players or TVs.

And it is not just gadgetry that needs insuring, esure noted. While the most common valuable students take to university was a mobile phone or PDA - which 81 per cent own - nearly a quarter (23 per cent) of respondents said they had in excess of 1,000 pounds worth of clothes. Furthermore, the average student will take 216 pounds worth of shoes, the insurer indicated.

Meanwhile, nearly a fifth (18 per cent) will be wearing more than 200 pounds worth of jewellery. The group warned that with such a wealth of possessions on display, these students may become particularly attractive targets for thieves. As such, it iterated the need to make sure belongings were covered, although it noted that nearly a quarter (24 per cent) of parents had not given any thought to insurance whatsoever. In the event that halls are broken into, parents who fail to take out a policy may find themselves dipping into savings or resorting to cheap personal loans to pay for TVs or laptops.

The firm also noted that more than one in ten (12 per cent) assumed that all their child’s possessions would be automatically covered under their own home insurance policy. However, the firm noted that there are limitations to this such as only covering items kept in a locked room and only paying out a maximum of 5,000 pounds.

Mike Pickard, head of risk and underwriting at esure home insurance, explained: 'It is very important that parents make sure they have sufficient contents cover in place to protect their child’s belongings - either by checking whether it’s included in their current policy or taking out separate insurance. Not having suitable insurance in place would hit students hard in the pocket and take a real chunk out of a student loan to replace the type of gadgets and designer gear that entices thieves.'

For parents searching for a way to fund the purchase of items such as laptops and course materials, taking out one of the cheap loans available may provide the financial freedom to make sure their sons and daughters can head off to halls well prepared. Opting for this type of loan may also be useful for those parents looking to secure accommodation for their loved ones in the capital after HSBC warned that the average rent for a student in London is in excess of 100 pounds per week.

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