How to choose student home insurance?
Everything is ready for your new life! Your university registration is confirmed, you’ve found a stylish flat...Freedom is on its way (catch ya later mum and dad). Before start living your best life, consider taking out student home insurance. Don’t see why you need it? Don't panic, Nemea has the lowdown.
What exactly is student home insurance?
If you’re going to study in a city away from your parents, you’ll probably rent a flat. It will become your new cocoon. The place to hang out with your new classmates, read or watch Netflix in peace, revise for your exams (yes, yes you will) and host parties (your house warming is already planned). You have to take out insurance for your home - it's compulsory. Yes, even as a student you’re not exempt from insurance. In fact, your landlord, whether they're a private individual or an agency, may even require a certificate of insurance when signing the lease. Even if you rent accommodation in a student residence managed by the CROUS, you must take out home insurance.
What’s the benefit of home insurance for a student? As with all tenants, this insurance policy protects your "home" against any damage you may cause, but also against any damage you may suffer. Still not sure what we mean? For example, if you set fire to your kitchen (you've never been a great cook) or if your upstairs neighbour forgets to turn off their taps and your flat turns into a swimming pool, home insurance will pay to repair the damage caused. Note that the basic guarantee known as "rental risks" does not cover your own property. If you want to insure your brand new Mac or your beautiful sofa too, you should opt for a comprehensive home insurance policy.
How to take out home insurance
Are you allergic to paperwork? Your mum has always taken care of everything until now? No stress, most insurance companies offer specific policies for students. But be warned! The guarantees change according to the policy. In general, basic student home insurance policies cover the tenant for fire, water damage, explosion and natural disasters (hopefully you’ll only need that one if you’re really unlucky). Be sure to check exactly what the contract covers. Secondly, insurance companies offer various extensions of cover which may come in handy: theft, broken glass or vandalism for example (which can be expensive if you’re not covered). If you’re a computer geek, you can take out a dedicated hardware option, which will reimburse you in the event of a claim. Protection for household appliances, travel assistance... It's up to you to choose the preferences that best suit your lifestyle and needs. Important: for each item of cover, check whether there's an excess to pay. You don’t want to get caught out for something that wasn’t mentioned! The excess is a sum of money that you have to pay before you receive any money from your insurer.
How much will your student home insurance cost?
If you haven't already done so, consider including the cost of home insurance in your monthly budget. The rate applied varies according to the type of contract taken out, the location of the property, the type of dwelling and its size... As you can imagine, prices vary and you won't want to spend a fortune so make sure you compare different insurance options before you buy. Shop around and only consider reasonable options. If you don't have anything of value, you may not need to insure your personal belongings...
If you choose to move into a Nemea Appart'Etud residence, you can take out comprehensive home insurance through us at a special student rate. A practical and economical solution to get your new solo life off to a great start!