It’s that time of year again – in a few weeks thousands of young adults will be graduating college and preparing to enter the workforce. With the excitement of graduation, starting a new job and maybe even moving across the country, it may be easy to overlook the importance of securing your own insurance policies. And, if you’re shopping for insurance for the first time, it’s easy to feel overwhelmed.
Navigating the world of insurance can be pretty tricky. Here are three good things to keep in mind as you begin to think about the insurance coverage you need to keep yourself and your belongings protected:
- What insurance do you need?
Think about what you’re driving, where you’re living, and your work benefits, and begin to make a list of insurance coverage you might need. Some typical insurance coverages include car insurance, renters’ insurance and health insurance, if you’re not on a company plan. If you’re moving out of a dorm, Greek life housing or apartment and into housing of your own, you’ll need insurance to protect your personal property.
- What are you required to have?
Insurance requirements vary from state to state, but typically each state has a minimum amount of coverage required for things like car insurance. You should be insured, at the very least, to the state minimum requirements. Evaluate your needs with an insurance agent to understand what is and is not covered by the state requirements, and decide if you need to add more insurance coverage to your policy.
- What kind of budget do you have?
It’s easy to forget to factor insurance payments into your overall monthly budget. Be sure to include things like renters’ insurance and car insurance payments in your monthly budget to avoid any unplanned surprises. Also try to set aside some money each month to cover unexpected medical expenses you may incur. You’ll have to meet your deductible before insurance kicks in to cover the rest.
With these tips in mind, be sure to get your insurance coverage squared away as soon as possible, so you do not face any gaps in coverage if you’re transitioning from your parents’ insurance plan. The AssuredPartners NL team of personal insurance agents is here to help, answer your questions, and provide guidance. To learn more, or to contact an agent, visit: AssuredPartners NL Personal Insurance.Share This: