Many parents could be paying for needless insurance to cover their children's possessions while at university.

Despite the fact that a student in Britain is burgled every four minutes (poor soul), parents are advised to check their household insurance policies before splashing out on separate.

While some students, or their parents, will need to take out a separate policy, this could be a waste of money, as a students' belongings may already be covered by their parents' existing household insurance.

Parents can make an immediate saving is by avoiding duplicate insurance cover for the main risks to a student's possessions. Parents who find that their offspring's belongings can be covered by their household insurance polices only need to inform their insurance provider of their children's situation, before they start living away from home, for the cover to be immediately effective.