Six in 10 students don’t have or don’t know if they have contents insurance and nearly half (49%) of students have had items stolen in the past two years

The average cost for students to replace stolen, lost or broken belongings is £340, but more expensive laptops average £1,053

Over a quarter (26%) would take out a loan to pay for lost, stolen or broken belongings 

Latest research shows the majority (60%) of students could be risking paying thousands or getting into debt to replace lost, stolen or broken possessions. 60% – or 1.596 million students – don’t have or don’t know if they have insurance for their belongings. This is despite many having high-value items at university and almost half (49%) saying they’ve have had possessions stolen in the past two years.   

MoneySuperMarket surveyed students from across the country and combined the results with price comparison data from the previous complete academic year (20/21) to understand the financial impact students face when it comes to lost, stolen or broken belongings.  

The average cost for students to repair or replace lost, stolen or broken belongings stands at £340.

For bigger ticket items such as laptops, tablets and notebooks worth over £1,000, the average replacement cost is £1,053. With tech items vital to many degrees, coupled with the fact many are foregoing insurance, students could be leaving themselves at risk if their laptops are lost, stolen or damaged.   

In the event the worst happens, and a replacement laptop is needed, nearly one third (30%) would turn to friends or family to borrow money, while over a quarter (26%) would have to take on debt through a loan, credit card or Buy Now Pay Later to afford the cost of repairing or funding a replacement. Over one in five (21%) would do the same and take on new debt for a missing or broken mobile phone. 18% said they would have to sell their other belongings to pay for a new computer or mobile phone.   

David McDermottroe, insurance expert at MoneySuperMarket commented:

“96% of students say they’re cutting back on spending because of the cost-of-living crisis4 and forgoing contents insurance could seem like an easy way to save money. But, if you have to replace a vital laptop which you need for your studies, or another expensive item like your bike, it could be financially devastating.   

“If you’re not sure if your belongings are insured, check your parent’s home and contents policy to see if your belongings are included while you’re away at university. If their policy doesn’t cover you, or the cover isn’t right for your needs, you can use MoneySuperMarket to find the best value to protect your belongings – whether you’ve got tech to protect, a musical instrument, bike, or an expensive item like a watch or jewellery.”   

Find out more about student’s contents insurance on     

Home and contents insurance policies purchased through MoneySuperMarket come with the Super Save Price Promise. This means if you find a better deal on a like-for-like quote from the same provider for your home insurance, you’ll get the difference refunded plus a £20 gift voucher from retailers such as Amazon, Argos, Just Eat and Sainsbury’s.