As many students head off to university and into the wider world, Confused has urged parents to make sure they get their finances in order before waving them off.

One of the first considerations identified by the price comparison site is an assessment of car cover arrangements. It pointed out that if a student is named as a secondary driver on a policy but plans to take the vehicle to university and assume a role of the main user, car insurance policies may be rendered invalid in the event of a claim because such behaviour could be deemed as "fronting". This term describes the process of deliberately obtaining or sustaining a policy using false information, usually to get a cheaper deal. Because many insurers reserve the right to nullify claims on such grounds, the website urged parents to make sure all insurance details are up to date ahead of time.

For those who find their policy is denied because of a failure to do this, there is a possibility that repair costs will need to be met using savings or personal loans. This in turn could have an impact on their ability to keep up with other payment responsibilities.

Investigating home insurance policies for cover limitations should also be made a priority, the group claimed, urging parents to consider going to a specialist student insurer if they are worried their existing home policy will not stretch to cover instances of theft, damages or loss of possessions. It noted that some specialist cover providers even offer key protection, anticipating that some over-eager undergraduates will misplace their keys after a boozy night out. And for those concerned about covering their kids for slightly more studious endeavours, some policies also provide assistance in the event of books going missing or being left behind in libraries.

Parents who lack such cover may find monthly commitments such as mortgages, credit cards and loan repayments are put in jeopardy in the event of such items needing to be replaced.

And with the demands of energy expenditure increasing steadily in recent months, Confused urged parents not to put their monthly outgoings under further strain by failing to switch to the cheapest supplier available at their son or daughters digs.

"Make sure that your children, or one of their flatmates, read the meter as soon as they move in and investigate the previous occupiers energy supplier. Unless that supplier is offering the best deal, look to change to a better tariff, or even change supplier altogether. There are 14,000 tariffs out there, so the likelihood is that savings will be made," the site advised.

Research from the group has shown that average savings on their annual energy bills made by Confused customers between January and June of this year was a cool 205 pounds.

Brits who are concerned about their energy bills may also be interested in kitting out their home with energy-efficient appliances. According to the Energy Savings Trust, doing so can help to ease both the heat entering the atmosphere, as well as the heat that energy prices are putting on wallets. For those who are keen to do so, taking out a homeowner loan may prove an effective way to meet the costs of replacement and installation.

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