The Nationwide Building society is warning that students at
college or university need to be prepared for the need for home
insurance, and provide tips to parents for cover
LONDON--(Business Wire)--
The Nationwide Building Society is urging parents not to let their
offspring forget about home insurance as they prepare for university
over the coming weeks. By checking if student possessions are covered
under their own home insurance policy, parents could avoid paying
extra to insure those possessions while the student is away from home.
Students starting university this year may take with them
expensive items such as a home computer, television, DVD player, hi-fi
system, games console, study books and music downloads. With a
potential total value in excess of GBP 1,500(1) it makes sense to
ensure that these belongings are insured while being kept in temporary
student accommodation.(2)
Students whose parents have a Nationwide home insurance policy are
automatically covered for possessions kept in their temporary place of
residence that are lost or damaged as a result of theft(3) or other
insured incidents named in the policy.
Students should return to the parents' home with their belongings
during holidays. Furthermore, Nationwide provides the added security
that any music paid for and downloaded onto a mobile phone, MP3 player
or other home entertainment equipment will be covered as standard up
to the value of GBP 1,000.
For more on Nationwide's home insurance protection, check out home
insurance section on our website:
www.nationwide.co.uk/insurance/home_insurance/introduction.htm.
(1) Approximate assumed values: Home computer GBP 700; hi-fi
system GBP 200; TV GBP 150; DVD player GBP 130; games console GBP 180;
music downloads GBP 100; books GBP 100.
(2) The student must normally live with their parents outside term
time and the belongings should be returned to the family home on final
completion of the studies.
(3) Claims will only be paid if there is evidence of forcible
entry or exit in respect of lost or damaged items in the event of
theft.
NOTES:
-- 'Home computers' does not include laptops, which can be
covered by taking out additional cover for personal
possessions;
-- Accidental damage is not covered;
-- Under Nationwide's home insurance policy, contents temporarily
taken away from the policyholder's home to college or boarding
school are covered;
-- Contents are covered anywhere in Europe or anywhere else in
the world for a maximum of 60 days in any period of cover.
The Nationwide Building Society
Neil Gatherum, Digital marketing, 01793 654852
neil.gatherum@nationwide.co.uk
Copyright Business Wire 2008
