Undergraduates often forget to inform their insurer about life changes, Defaqto has said.
An "insurance gap" for students was identified today by analysts at Defaqto.
According to the firm, which provides ratings for financial products, many undergraduates are failing to inform their home and car insurance providers of life changes. For example, actions which affect premiums such as where the vehicle will be parked while at university commonly go unreported, Defaqto said.
The warning was issued in the run-up to the new university term, which begins for most undergraduates over the next fortnight.
Mike Powell, principal consultant of general insurance at Defaqto, said: "If you are intending to take your car to university, you need to ensure that your insurer is informed of where your car will be parked. Failing to do this may mean that your insurer could refuse to deal with any claim made under the policy."
He added: "Amending your vehicle registration document should not only be done because it's required by law, but also from a practical point of view. The DVLA will send your car tax reminder and V11 to the address they have registered, which could cause problems if it's not where you're living."
Figures from the AA revealed earlier this week that car insurance premiums for young men continue to rise. According to the insurance provider, males cause 63.4 percent of car accidents resulting in death or serious injury, where the driver is under 25.
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