Sainsbury's: A quarter of home insurance policies do not cover students living elsewhere

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Sainsbury's: A quarter of home insurance policies do not cover students living elsewhere

Many students are at risk of not being covered while they study, according to new research from Sainsbury's.

New analysis has found that one in four home insurance policies do not cover the possessions of any students who are living away from home.

Cover that is offered also varies widely, with 34 per cent of policies limiting their cover to £3,750 or under, with 11 capping claims at £1,000 or less.

Neil Laird, home insurance manager at Sainsbury's, warned that the average student's possessions are worth thousands and adequate cover is "essential".

Recent research by LV= found that parents are paying their adult children £233 billion to help support them.

The insurance, pensions and investments group found that 46 per cent of over-70s are still helping their children financially even though they are generally retired.

Nigel Snell, communications director at LV=, said that while parents are likely to contribute to such things as weddings or first homes, the economic climate is affecting day-to-day purchases as well.

Click here for more insurance news.ADNFCR-323-ID-18768575-ADNFCR

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