About 30% of university students have no home insurance, research by Abbey reveals - that's around 300,000 people.

This is despite a student's belongings being worth, on average, £3,300. Their possessions often include expensive items such as a PC, TV, stereo, iPod, DVD player and mobile phone.

Most students live in shared accommodation making them an easy target for thieves. It also makes stand-alone insurance expensive.

The cheapest option for students is to check whether their parents' home insurance policy covers them as well.

Many insurers, including Abbey, extend cover free of charge to students away from home, typically up to £5,000, while others make a small extra charge.