Student possessions worth £2.5bn

 
29/07/2005


Students in the UK are collectively taking £2.5bn* worth of possessions with them to university this year, estimates Churchill Home Insurance. With nearly a million** undergraduates living away from home during term-time, parents should make sure their offspring are properly insured.

Gone are the days when young Britons slummed it during their university years. They may complain about struggling to make ends meet, but many of today's students will own an expensive PC or laptop to assist them in their studies. Then there are 'essentials' such as mobile phone, TV, CDs and a CD player, as well as the ubiquitous iPod and game consoles. According to the government’s Good 2 B Secure student website, students own more expensive consumer goods per head than the rest of the population.

Martin Scott, Head of Churchill Home Insurance, said: "Parents are often unaware of the cumulative contents value of their children’s student room, as things were very different in their day. Today’s generation of students has come to rely more heavily than ever on new technologies and this is reflected in the value of their possessions."

Churchill Home Insurance estimates the average student insurance claim to be currently worth £852 and the average value of student rooms to be around £3,000. With 50 percent of Churchill Insurance's student claims for last year coming from their rooms being forcibly broken into, the need for insurance cover is clear.

Martin Scott, Head of Churchill Home Insurance, added: "The good news is that with Churchill Home Insurance students' possessions temporarily removed from the family home are covered up to £4,000 at no extra cost in case of a theft involving forced entry***. That way parents can rest assured that their offspring's valuable possessions are insured against break-ins at no extra cost."

Churchill Home Insurance recommends that students:

  • If possible, make sure that every door and window in their student room has a good lock.
  • Make sure all doors and windows are securely locked when leaving their room.
  • Make sure valuables cannot be seen from the outside.
  • Use an ultraviolet pen to mark their property with their university name, student ID number and term-time address.

What Students Own

 

Item Estimated Value
 PC/Laptop        £700   
 Mobile  £100   
 TV  £150
 Stereo  £100
 CDs  £250
 DVD Player        £100   
 iPod  £140
 Games Console       £160
 Digital Camera       £150
 DVDs  £200
 Clothes  £800
 Books   £150
 Total  £3,000

 
* Exact figure: 2,480,865,000; based on the number of full-time UK undergrad students living away from home during term-time and the average value of contents in a student room (£3,000)
** Exact figure 826, 955; source: Higher Education Statistics Agency, 2005
*** Cover applies in the case of theft with forced entry. Churchill Insurance recommends additional cover for any other type of theft.

For more information please contact:

 

Emilie Lien
Churchill Insurance
020 8313 5830
pressoffice@churchill.com

Churchill Insurance Company Limited. Calls may be recorded. Conditions apply.