Insurance Tips for Recent Graduates
Recent graduates from high school and college need to be aware of their options for health insurance, renter’s insurance and life insurance.
College educations may cost more than $220,000 in today’s world and student loan interest rates are going to increase another full percent. College kids are being saddled with debt, so making responsible insurance choices is important.
In this episode of the DarrasLaw podcast, Frank Darras outlines some of the smart options that are available to recent grads and their parents too.
Quote from the Show:
“Renter’s insurance is easy and inexpensive… it’s $15 a month.”
What you’ll learn:
- What college grads need
- Grads will get penalized if they do not enroll in health insurance
- Young adults can be covered on parents’ healthcare plans up to age 26
- How do young adults find information on insurance?
- Why renter’s insurance is valuable
- Take pictures of your belongings in case you need to make a claim in the future
- Life insurance options for graduates
- Make sure that your auto insurance policy has a large amount of personal injury protection (PIP) coverage. Double the default coverage for about $20 a year.
Need More Information? Here are links resources that on the important topics discussed during the show.
How Much Personal Injury Protection to Buy – This post published on DMV.org provides a check list of considerations when analyzing how much protection you might need.
Gradmed.com – This website was referenced during the show and offers inexpensive short-term major health insurance coverage for those who are searching for jobs.
College Students Need Renter’s Insurance – Excellent blog post over at MoneyQandA.com explaining some of the many benefit’s of this type of insurance for college students.