The time in our lives when we most need spending money is when we are students and, ironically, the time in our lives when we have spending money is when we are working and have no time to spend it.

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Most students will not want to spend cash on insurance policies like life insurance. But this can be a false economy. For example, traveling without adequate travel insurance is simply foolish. If the worst should happen and you need to be repatriated due to illness or an accident then the expense, without insurance, can be crippling. Yet every year many students head off for their gap year on the road without the insurance cover that they really need.

When traveling it is essential that all students ensure that they have adequate insurance cover. And its worth ensuring that your travel insurance policy covers all of the activities that you are planning to carry out while on the road.

Although it might be argued that a life insurance policy should be low on a student’s list of priorities this is not the case for personal possessions. Students these days have a whole load of expensive electronic gadgets including costly laptops, ipods and mobile phones. And these expensive devices can often be lost, stolen or damaged. At the very least every student should consider getting some mobile phone insurance and maybe look at other low cost, specific insurance policies for other valued possessions.

At the very least all students should at least insure their laptops and and mobile phones against theft, loss and accidental damage. Getting some gadget and gizmo insurance will mean that if the worst should happen then at least you will be able to get a replacement without. Insurance will buy you a new laptop but can’t replace your lost college work, but of course you will have backed this up?