Parents left with insurance nightmare as kids fly the nest
19th Sep 2012
Many parents across the country will have seen their children fly the nest over the past few weeks to move into property for rent at university. However, many are unaware of the issue that this can cause them when it comes to insurance of their house.
According to Lloyds TSB, parents could be putting possessions at risk, because they do not know what their child has left behind belongings wise, and may be underinsured as a result.
According to the bank, the average student will go to university and not take £735 of their own goods with them when they leave.
This value is typically made up of the likes of toys, clothes, books, music and gadgets, with 73 per cent of parents saying their kids leave them with a bedroom full of such items.
Students often need to make sure they have their own policies when they head off to higher education, with theft from this market being high in the UK, but it is also important that parents are vigilant.
Tim Downes, senior claims manager, Lloyds TSB Insurance, said: "It is important for insurance purposes that parents can identify items of value that they plan to keep when de-cluttering their nests. Often possessions such as books can be more valuable than they appear, so ensuring you have a comprehensive cover will help give you peace of mind."
Posted by Staff Writer: Robin Stenson
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