As more than half a million students pack their bags for university a new study by our sponsor Co-op Insurance reveals almost half don’t have home contents insurance.

The study, conducted among UK university students found that almost half (46%) don’t have home contents insurance and a tenth (8%) simply don’t know if they have it.*

When it comes to reasons for not getting contents insurance, more than a third (34%) cited cost as the biggest barrier, whilst less than a third (28%) just haven’t got round to getting it.

For a tenth (13%), it’s simply not knowing how to get cover, a sixth (14%) presume their landlord has it sorted and a tenth (11%) would rather risk it than take out cover.

Highlighting the importance of such cover, two fifths (40%) of students calculate their contents to be worth between £1,000 and £2,499 and a quarter (24%) estimate that their belongings are worth £2,500 or more.

A high proportion of students own valuable possessions, including a laptop (84%), mobile phone (84%), TV (59%), tablet (55%), jewellery/watch (46%), games console (45%), sports equipment (20%) and designer clothes (24%) or shoes/handbags (20%).

With this is mind, a fifth (21%) have had their home broken into or had an attempt made, and a third (29%) admit to worrying about break-ins. Furthermore, those living in a detached house are significantly more likely (51%) than others to have experienced a break-in, which is concerning given that a fifth (19%) of students live in this type of property.

It’s not just theft that requires cover either. Contents insurance can also protect against fire damage, personal possessions, accidental damage and emergency repairs**.

Caroline Hunter, Head of Home Insurance at Co-op commented: “It’s concerning to see that as many as 46% of students don’t have contents insurance, especially given the cumulative value of many of these properties, which are often made up of multiple tenants.

“Unfortunately accidental damage and theft does happen within student homes and so we would urge students to take out home contents insurance, which doesn’t have to be expensive but can often safe a whole host of hassle and expense in the future.”

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*Survey of 500 students was conducted by Atomik research on behalf of Co-op Insurance. * Subject to policy. Optional extras available on top of standard cover.