Lack of contents insurance to worsen student debt problems?

Students who head to university without adequate contents insurance could see their debt problems worsen should they fall victim to theft, new research has suggested.

A study carried out by M&S Money discovered the average bedroom of a scholar contains £1,620 worth of kit, yet only half of university goers are sure they have insurance to cover their gear.

These products include almost £699 worth of electrical devices and appliances, as well as clothes to the tune of £444.

Bedrooms contain sports equipment of an average £246 value and textbooks costing £231, the investigation revealed.

Moreover, 55 per cent of pupils own a laptop, 48 per cent have an MP3 player and 20 per cent are even taking a widescreen television to their new digs.

And of the youngsters questioned, the study found 27 per cent have previously fallen victim to theft – 71 per cent of which have been burgled on more than one occasion.

However, only 52 per cent of respondents said they have an insurance policy that will cover items that are pinched from their student accommodation.

Andrew Ferguson, M&S head of general insurance, warned scholars not to think of insurance as an unnecessary expense.

“The modern-day student bedroom is a goldmine for thieves, so insurance could be the best investment students make this autumn,” he advised.

Jamie O’Connell, spokesman for The Student Room, recently advised individuals heading off to university to budget their outgoings sensibly as the costs can soon mount up and could increase their debt concerns.

By James Francis