Students Are Flying the Coop – Are Their Valuables Covered?

Your Uni Students Are Flying the Coop – Are Their Valuables Covered?

It’s that time of year again: university is starting up with many students fleeing the nest for the first time. You’ve equipped your son or daughter with all the advice they need to head off to university and tackle the world, but do you know if their most prized possessions are insured?

AMP last year conducted research that revealed devices are critical to students’ study, tech is often the most valuable thing they own, and the risk of losing them is shockingly high.

The research showed one in three students have accidentally dropped their phone in the toilet, one in six students have lost their phones at concerts, one in seven have had them stolen while enjoying a night out, and in total, three out of five have damaged, broken or lost a device that was critical to their studies.

Many parents think their children’s contents are covered under their own home and contents insurance policies, however this may not be the case, says AMP Head of General Insurance Rob Dibley.

“AMP offers cover for uni students under the parent insurance whilst the student is still living at home but away living in university accommodation,” says Dibley.

“However, if your uni student is going flatting they will need to take out their own policy, which is why AMP created Student Everyday Insure – to make the important things easy amongst the excitement and stress of moving out of home.”

With an excess as low as $300, and premiums from as little as $13.54 a fortnight, will cover a student’s possessions including their laptop and smartphone up to $9000, AMP Student Everyday Insure makes it easy for students to have peace of mind that their most prized possessions are in safe hands.

Even if you think your young adult doesn’t have anything worth insuring, when you add up what it would cost to replace their iPhone, headphones, fancy camera, gaming console, laptop and other electronics, it can reach into the thousands of dollars, says Dibley.

“Life is hard enough when you’re studying. Most students live on their phones and laptops. Their devices are essential to their studies, and losing them is a huge financial hit,” says Dibley.

ENDS.

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