Latest research shows the majority of students could be risking paying thousands or getting into debt to replace lost, stolen or broken possessions. 60% – or 1.596 million students – don’t have or don’t know if they have insurance for their belongings. This is despite many having high-value items at university and almost half (49%) saying they’ve have had possessions stolen in the past two years.
MoneySuperMarket surveyed students from across the country and combined the results with price comparison data from the previous complete academic year (20/21) to understand the financial impact students face when it comes to lost, stolen or broken belongings.
The average cost for students to repair or replace lost, stolen or broken belongings stands at £340. For bigger ticket items such as laptops, tablets and notebooks worth over £1,000, the average replacement cost is £1,053. With tech items vital to many degrees, coupled with the fact many are foregoing insurance, students could be leaving themselves at risk if their laptops are lost, stolen or damaged.
