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Students 'should insure possessions'

Students have been urged to take out insurance to cover their possessions in case of damage or theft.

NatWest warned that many would be financially stretched if they experienced a burglary and had to replace their items.

The firm also advised students to be aware that criminals are not the only threat to their possessions, as accidents involving housemates can be equally damaging and costly.

Mary Taylor, media relations manager at NatWest, commented: "We are all aware of the financial issues that students face, but saving money by not taking out insurance is a false economy."

She added that an insurance premium is a "small price to pay" to ensure peace of mind.

According to figures from NatWest, the possessions of the average student are worth more than £3,000.

This follows advice from American Express, which urged students looking to take a gap year during university to take out travel insurance if they are going abroad.

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26/04/2007 16:10:34

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