'Sort personal finances by uni'

By Marianne Straker, Thu 18 Sep 2008 - Published in Home Insurance

Parents have been advised by a price comparison website to help get their children's finance in order before they start university.

According to Confused.com, parents should help the young ones look for a provider which offers home insurance specifically for students, especially those which cover halls of residence.

The website adds: "They will also provide key cover for those boozy nights out where students lose their keys on the way home, and some even provide book cover for library books which may be lost or stolen."

Some providers, it is noted, offer cover to pay for student fees, should the young person be forced to deregister following an illness, accident or death.

In addition, students which are the main driver of a vehicle should have their own car insurance rather than be listed as a named driver, as this could be considered 'fronting' and is classed as fraudulent by providers.

Research by moneysupermarket.com, published yesterday, found 23 per cent of young people have named the parents as a guarantor upon taking out loans.

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