Millions of undergraduates are covered under their parents’ contents insurance and don’t need a new policy at university, so says rural insurer NFU Mutual.

As students leave for universities across the UK this month, they will take with them expensive possessions including smartphones, tablets and TVs worth several thousand pounds on average to each student.

While insurance is unlikely to be a top priority, parents can help their children save money before they even move out by checking whether their existing home contents insurance covers their treasured possessions.

Based on the Defaqto Matrix, 78% of home insurance products also cover student belongings as standard.

Ross Garner, home insurance spokesperson at NFU Mutual, said: “With the average cost of tuition fees now around £26,000 for a three year course, everyone knows that university is more expensive than ever before. The last thing most students need is to incur further costs insuring their items when it’s most likely they’re just moving out of home for the first time.

“Out of all home contents policies on the market, around four in every five provide some cover for student possessions as standard, but it’s worth checking the amounts insured too.”