Contents, gadget, travel and car insurance: what it covers, what an excess is and which policies are worth it for students, renters and young adults.
Insurance is for losses you couldn't cover yourself. Small, affordable losses? Your savings can handle those.
The excess is the amount you pay towards any claim. The insurer only covers what's above it.
As a renter, the landlord insures the building. Your stuff needs contents cover — check if your halls or a family policy already include it.
Gadget cover can be useful for pricey phones, but compare the total cost against the item's value and check for cover you already have.
Buy travel insurance when you book (so cancellation is covered). A free GHIC helps in the EU but doesn't replace insurance.
You MUST have at least third-party cover to drive in the UK. Fronting (pretending a parent is the main driver) is fraud.
Ghost brokers sell fake or fraudulent insurance on social media. Only buy from firms on the FCA register.
Read the summary: what's covered, what's excluded, the excess, and the single-item limit. And answer questions truthfully.
Claim quickly, with evidence. If your complaint is rejected or ignored, the Financial Ombudsman Service is free.
'Protection' insurance matters most when others depend on your income. Check first what sick pay your job already gives.
Extended warranties and add-on cover are often poor value. Your consumer rights already cover faulty goods.
The Immigration Health Surcharge (students: £776 a year, paid with the visa) gives you NHS care on much the same basis as UK residents. Register with a GP early.
Stay calm: report, check cover, gather evidence, claim honestly — and ignore 'helpers' who slide into your DMs.
Free with a codeInsurance: quick answers
Which loss is insurance MOST useful for?
Your flat flooding and wrecking everything you own. Yes. Big, unlikely, would hurt badly — that's exactly what insurance is for.
Related topics
- Housing & RentingDeposits, guarantors and the flatmate who never pays bills.
- Big PurchasesPhones, cars and contracts without regret.
- Consumer RightsRefunds, complaints and getting your money back.
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