Students urged to consider insurance options

Students should look into their insurance options if they want to avoid adding to their student debt concerns by not being adequately covered for poss…

Students should look into their insurance options if they want to avoid adding to their student debt concerns by not being adequately covered for possessions, it has been suggested.

Aviva noted thousands of undergraduates will be leaving home this year with valuable belongings.

However, it claimed university goers to be among the most likely members of society to fall victim to theft and advised suitable insurance could help soften the blow of such an occurrence.

The organisation observed many youngsters tend to travel by bike.

However, the British Crime Survey showed there were 540,000 cases of stolen bicycles in 2008 and 2009 – up 22 per cent on the previous year.

Other pupils may own a car, Aviva noted, but cited RAC data, which revealed individuals in the age bracket of 18 to 25 are 60 per cent more likely to run out of petrol.

Moreover, they are at a 20 per cent higher risk of needing assistance to deal with punctures and three times more likely to be locked out of their vehicles than older motorists.

The Aviva UK Health Semi-Gration study of 18 to 30-year-olds also revealed 56 per cent believe there may be better life prospects abroad, with more than half indicating they would consider a spell overseas.

However, over a third of these youngsters claimed they would not consider taking out medical insurance while working in a foreign country.

Recent research carried out by Barclays found many parents may be placing themselves at risk of debt as 77 per cent claimed they would help fund their child’s time at university.

By Amy White

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