So many young people today don’t have insurance. They think that it is something they will have to worry about later in life. The problem with this way of thinking is that young people own the greatest number of gadgets, whether that is mobile phones, electronic gaming devices, or laptops. If you are not insured against damage on your personal possessions then you could seriously lose out if any of your items was stolen or damaged.

Many of us rely on our parents having insurance however this does not always work. Firstly you get parents refusing to claim on their children’s items as they have worked hard to build up the ‘no claims’ over the years. Students often get caught out as they assume that their parents insurance will cover them while they are at university (it doesn’t!).

If you have your own home you will likely have buildings insurance but so many opt not to go for contents insurance, particularly accidental damage. This is a false saving if you could not afford to replace your items should any harm come to them uk driving licence.

Time and again we see these documentaries where a group of guys or girls have gone on holiday together and disaster has struck and there are broken bones involved. They end up in hospital and so many of them have no insurance or their insurance level is inadequate for the activities they were involved in. This could turn into such a nightmare situation with cost spiralling completely out of control and so many people get stuck in their holiday destination as not only can they not afford the medical bills, they cannot afford to re-schedule their flights.

Life insurance is something that people put off getting for years as it is quite depressing insurance to buy. However if you buy it when you are young and fit it will be really cheap and then you will build your no claims up over the years. You could end up saving money in the long term.

Many young people get their parents to take out cheap car insurance for them and add them as a named driver as insurance tends to be expensive for young drivers with limited ‘no claims’ history. This could be a false saving as when you do eventually have to get your own policy you will have no ‘no claims’ and the chances are that you will have moved away from home and will have your own financial commitments to deal with. It is sometimes better to take the financial hit while you are living at home and you can sit back while your ‘no claims’ rack up with driving lessons.

We can’t live without our mobile phones so why do hardly any of us ever get insurance to cover them? For a small monthly fee you will have peace of mind that your phone will be replaced in a matter of days.

The answers are simple:

  • If you live away from home, you cannot claim on your parents insurance so just make sure that you have your own policy to save heartache down the line. Include contents insurance.
  • If you are going on holiday just get some insurance. It is so cheap and you could even get an annual policy which would cover you for domestic.
  • Buy some cheap life insurance – why not?
  • Car Insurance – get your own policy as early as you can.
  • Could you afford to replace your mobile? If not, get insurance to cover it.
  • If you have an outstanding it may be more difficult to get reliable cheap insurance.



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