Insurance for College Graduates: What you need to know About your Options

Insurance for College Graduates: What you need to know About your Options
  • Post last modified:April 22, 2020
  • Post Category:Insurance

Graduating college is big feat, and you should feel proud of yourself and the successful accomplishments you’ve made in your college career.

Most likely, you’ve secured or may be securing a full time job post graduation, and you may be looking for a new or bigger place to stay. Additionally, you’ll need to figure out transportation to and from your new job, and how to have financial security.

With all these things you need to do pre and post graduation, it can be hard to remember everything you have to do in order to have a stable, promising future.

That’s where insurance for college graduates comes into play, even though it may have been one of the things you forgot about before you received your diploma. In fact, most college graduates don’t even consider getting insurance when they graduate because it’s often confusing and overwhelming.

You’re not alone in this matter. However, you should know that being uninsured or underinsured can be a serious problem, especially if you become liable for personal or property damages. Not only would you face legal trouble, but financially, you would be at a major loss.

That’s why at Paradiso Insurance, we recommend the following insurance products to college graduates:

Renters Insurance

Renting is affordable, solid option for college graduates who are striving for independence, and whether you split the cost of rent with your friends, or live on your own, it’s very important to have renters insurance. Unfortunately, many young adults don’t have the coverage they need when renting a space to live in.

Theft, burglary, fire, flooding, etc. can and do commonly happen in rental spaces, and while your landlord will have insurance on the building, that doesn’t actually cover the contents or tenants inside of it.

As a renter, it is your responsibility to make sure your belongings are protected, even if you don’t own the building your things are in.

It’s also incredibly important to make a home inventory list (if you haven’t already), in addition to having renters insurance. This can help you get reimbursed for valuables that were damaged or stolen in your living space. Having a home inventory list is extremely important, especially if you have a lot of electronics, expensive furniture, jewelry, or high end clothing.

The cost of renters insurance will vary depending on your location and other factors, but overall, it’s a very affordable option for college graduates to enroll in.

Automobile Insurance

Automobile insurance is important for everyone to have, and if you own or use a vehicle to commute, then you most likely already have automobile insurance.

However, did you know that every 1 in 8 drivers is uninsured? That’s a scary thought to think about while you’re driving in traffic. Plus, if you’re underinsured on your current automobile insurance, and an uninsured driver hits you, you’re at a financial loss, because your insurance would not be able to cover the damages they caused.

In a way, it isn’t fair that you would have to pay for the damages caused by someone else, but each time you step foot into an underinsured vehicle, you’re running the risk of liability. At Paradiso Insurance, we can help explain your options, and promise to work with you so you understand what you’re protected from.

Life Insurance

Typically, most people don’t think about life insurance until they’re much older, have a family, and some valuable investments they want to protect. However, this isn’t the best way to go about setting up your future. While having life insurance to protect your family is the best thing you can do, having a life insurance plan now, before you even start a family, is the best thing you can do financially.

You may be wondering what life insurance has to do with insurance for college graduates, but it actually matters a lot, because age and health are the true factors behind the cost of a life insurance premium. Therefore, it’s best to get it now when you’re young and healthy.

Similar to renters insurance, on average, this is very affordable for younger adults to enroll in. Besides opting in for a retirement program early, getting life insurance at a young age will help you greatly in the future, especially if you plan to raise or have a family. Life insurance covers the expenses of a funeral and ceremony in the unfortunate event you pass away. Don’t leave your family in debt due to the expense of having to bury you, provide them peace of mind by having a life insurance plan in effect now.

Insurance for college graduates will protect you now, and in the future. So, if there’s one thing you consider doing after college, it should be to invest in an insurance plan. Our professional insurance agents can help you get the coverage you need for the best price. Contact us today by phone, email, or Facebook Messenger.

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