Students urged to join parents' insurance

insuresupermarket.com is urging students to add their belongings to their parents' insurance policies to save money.

On average, students could save at least £46 if they add the belongings they have with them at university to their parents' existing policies.

Richard Mason, director of insuresupermarket.com, said: "For students wanting to save their cash to pay the rent of for an extra drink at the student union, there is a cheap option to insuring their possessions away from home."

He added that several of the largest insurers, including Lloyds TSB and Norwich Union, offer this option free of charge and it usually includes cover for up to £5,000 or 15 of the sum insured on the parents' policy.

"It’s easy to do and will save much needed cash at a time when budgeting is impossible and there’s no spare cash in the wallet," he concluded.