Parents of graduates 'should check their home insurance'

By Marianne Straker, Tue 26 Aug 2008 - Published in Home Insurance

Parents of sons and daughters who are returning home after graduating from university need to consider reassessing their home insurance policies, according to Virgin Money.

Spokesperson Grant Bather said: "Many students will have built up quite a collection of valuable items over the course of their degree."

He added with money being tight for many people as a result of the credit crunch a high number of graduates may opt to return to the family home rather than renting, in order to make financial savings.

Mr Bather concluded it was important parents did not assume they had sufficient insurance to cover the laptops, iPods, TVs, DVD players, cameras and games consoles their children brought back with them.

Meanwhile, those people heading off to university this autumn have been advised by Halifax to choose a current account with a zero per cent overdraft offer so that they are able to make the best possible use of their finances.

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