Graduates and Insurance
Graduation season is in full swing, and if you are like millions of other young adults across the country, you are taking the first steps into the real world. With all the uncertainties that come along with graduating college, it is important to make sure that you protect yourself and your assets with the right insurance policies.
Insurance is a contractual agreement, and in exchange for your payment each month, an insurance company promises to cover the cost of any losses that you encounter. Without the right insurance policies, you will be left paying for the damages out of your own pocket, which can be a serious financial strain, especially when you are just starting out.
There are many types of insurance that you should consider after graduation to keep you safe, including:
- Health insurance – under the new rules laid out by the Affordable Care Act, everyone is required to be covered with a health insurance policy, as long as they can afford it. Luckily, you are able to stay covered under your parent’s health plan until you are 26 years old. However, if your parent’s do not have coverage, or you are over 26, you will need to find your own policy.
- Renter’s insurance – if you are renting a house or an apartment, you will need a renter’s insurance policy. While your landlord will have an insurance policy for the property, it will only cover the structure of your home, not any of your belongings that you keep inside.
- Auto insurance – auto insurance is required by law, which means that if you have a car, you will need a policy. While only liability coverage is required, the more coverage options you choose, the better protected you will be.
For all of your insurance needs as a recent graduate, contact Gant Insurance Agency in McKinney, Texas.