A student house is a dream come true for burglars. With multiple occupants (many of whom will in all likelihood have at least some of the student must-haves such as TVs, laptops, mobile phones, MP3 players and many other gadgets besides), the burglar can make a clean sweep in next to no time.

Sadly, when students get together to share a house, insurance is not always uppermost in their minds. They are far more likely to spend time devising a washing up or cleaning rota than spend time surfing the net looking for a suitable policy.

Endsleigh Insurance have recently come up with a novel policy which should make life a lot easier for those sharing accommodation this academic year. The policy is designed for student house share situations and covers up to £3000 worth of belongings per student. The more people who are included on the policy, the cheaper it is per person. Each student has their own log in details and can tailor the cover to suit their individual needs.

Many students make the mistake of assuming that their parents’ home cover includes their belongings when away at university but this is not often the case so, if in doubt, the exact terms of the policy should be checked carefully.

Although students have a staggering £3.3 billion worth of possessions with them in their accommodation, an equally staggering £1.7 billion is not covered. Leaving home can be stressful enough without adding to the woes by failing to take out appropriate insurance.

AA Insurance has warned the government that cutting spending on flood defences across the UK could have devastating consequences. The company has warned that if the government goes ahead with its plans, then hundreds of thousands of homes may not be able to be covered by any insurance provider.

The government is considering cutting flood defences as part of its Comprehensive Spending Review. However, the AA wants it to think very carefully about this particular idea. Indeed, rather than cutting expenses, the AA wants the government to increase spending.

Simon Douglas, the director of AA Insurance, said that if flood defence spending is cut, many people won’t be able to get a mortgage on a property because they will not be able to take out insurance.

He also made it clear that it wasn’t just the people living in properties at risk of flooding who would suffer; premiums would go up across the country, so everyone would be forced to pay more.

Douglas made the comments in an open letter to Caroline Spelman, the environment secretary. He painted a stark picture of the possible effects of cutting spending, stating that “millions of people are at risk of inundation from overflowing rivers, coasts and estuaries” when we experience weather extremes, adding that the risk is “increasing all the time”.

Home insurance providers are currently signed up to the Statement of Principles, which means that they have agreed to offer cover to existing customers up to 2013, as long as flood risk is still being managed properly.

If the situation changes and flooding becomes too much of a risk, things could start to look very bleak indeed.