Navigating Insurance for Students and Searching Out the Right Financial Solution for UK Parents

Navigating Insurance for Students and Searching Out the Right Financial Solution for UK Parents

Many students are stereotyped as lazy, indolent, and, perhaps, most importantly, scruffy. Today’s students are more involved and active than their parents and demand the rewards. Many of the UK’s student halls have valuable pieces of equipment. Parents lavish attention on their children in the form money, gifts and increasingly credit cards. These cards are used to purchase new shiny items.

The process of transporting a newly-minted student to their halls can be a complicated one. Students’ hi-fi and decks, TV, computer, and television are all loaded onto the car that will take them to their halls. These electronics, along with their larger brothers, the mp3 player, omnipresent mobile phone, are all essential student equipment.

The list doesn’t end at electronic goods. Expensive clothing is also a priority for our average student. Today’s student is on display not only for their intellectual prowess, but for their elegant sartorial style.

All this begs the question: What if all of it just…disappears?

As it has always been, theft is rampant in the UK. A recent survey by the Home Office has shown that there was a 4% increase in robbery from April to June 2005, compared to the previous year, while crime statistics in the UK have increased for the first time since 2006. As the UK’s consumer society tightens its grip over another generation of students, student insurance is becoming a more important priority.

However, the responsibility of insurance falls on the parents. This has not gone unnoticed by the UK banking industry and, aside from the traditional insurance providers, the high street banks plus their myriad financial solution offshoots (see Barclays [] for an example of the sheer range of products available), there are a growing number of new competitors to the insurance market. The best part is that you can choose from a variety of insurance packages even within the same insurance service. The financial burden of covering your child’s student years can be eased by making the right decision from many insurance options.

To check the most current rates and packages, it’s a good idea. The next step is personal. Do you want to expand your home insurance to include student property? Perhaps you are looking for a service that caters to students only. Perhaps you would like a service your student can use to monitor their finances and learn the importance of financial considerations in modern life.

It’s risky but you have the option.

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