Frank N. Darras, America’s Top Insurance Lawyer Advises Recent College Graduates on Insurance Must-Haves
Protecting what you have and what you will have in the future now that you have obtained a degree is an important undertaking. Insurance is a universal need and many employers provide necessary policies such as health and disability insurance. Health insurance in particular is an extremely important type of insurance because medical treatment can be expensive. Many graduates will often stay covered under their parents health plans until the age of 26, which is a great way to save a few extra bucks
“The tough economy has many new grads leaving college without a job lined up – forcing them to wrestle with questions about health insurance. Students who’ve been covered by a parent’s policy or one through the school may find themselves without insurance as early as graduation day. Fortunately, most people in this age group have a number of options, even if they haven’t yet found a job,” (Insurance for Graduates: Wall Street Journal, May 3, 2009).
“Not only is health insurance an important necessity for recent college graduates but so are several other types of policies,” advises Frank N. Darras, America’s top disability insurance lawyer. “Auto insurance is of course another mandatory policy for everyone who owns a car. If you take care designing your policy coverage, you can save by paying close attention to the deductible and other adjustable limits. You’ll want to have at least $100,000 in liability coverage, however, so that you are covered in case you injure someone in an accident. As an up-and-coming professional with the according salary and benefits, you may also want to consider life insurance. While it’s not a necessity right away, there are definite benefits if you have dependents, not to mention it’s cheaper to purchase an individual policy when you are young and healthy.”
While life insurance may not be necessary right after graduating, renter’s insurance and liability coverage are essential. There always needs to be some sort of coverage for a living space due to concerns such as fire or burglary. As a start, make a schedule of any belongings, which is all it takes for most people to realize how important renter’s or homeowner’s insurance is. These policies are fairly inexpensive for the amounts of coverage so don’t relegate renter’s insurance to the backburner. Liability coverage is something to attach to both auto and renter’s insurance for a well-rounded plan. Medical bills and lawsuits cost a whole lot of dough and college grads can be very vulnerable to lawsuits due to their estimated earning potential.
“Don’t forget that it is never too early to start planning for retirement! All of these insurance policies are a great way to invest in both your present and future. A knowledgeable insurance agent will be able to guide you towards the most cost-effective policies along with any ways to save money. The Internet is also a great resource when comparison-shopping for many of these policies. Make sure to check the complaint ratios for any companies you are considering doing business with. A clean claim paying record is definitely an important aspect of a good insurance company,” says Darras.