Studying the terms on contents insurance policy is a necessity for university-goers this semester, an expert has warned.

Phil Paterson-Fox, head of home insurance at comparison website Gocompare.com, said the fact that average student has a wealth of items makes this type of cover essential.

However, he explained that taking out a new policy is not always the most cost-effective way of making sure undergraduates do not have to shell out thousands of pounds to replace any stolen items.

Mr Paterson-Fox said: "For many families, it may well be possible to provide cover for a child at university under an existing home insurance policy. It is well worth checking the cover available as it can mean you avoid doubling-up on cover. However, it is important that you check the policy terms and the exclusions."

Not all policies will have this cover available and some may only cover one child at a time, meaning siblings going off to university may require different arrangements, he asserted.

The specialist concluded: "There is good value cover available but there are also restrictions and exclusions, so it is worth having a good look at your existing home cover and comparing it with policies specifically designed for students."

Use the Myfinances.co.uk comparison tables to find the best deal on contents insurance