Congratulations graduate! Welcome to the world! You’ve spent the past four years (or five…or six…) toiling away at undergrad, and now you’re ready to enter the working world as a full-fledged adult!
Here’s the funny thing about being an adult though, mommy and daddy are no longer going to be paying your bills (if you were lucky enough for them to do so in the first place). Instead, you’re on your own. And oh, will there be bills.
Buying a new car? Renting an apartment? Will you at some point need to go to the doctor or dentist? Each of these requires insurance, and odds are, as you have already found out or will soon find out, you are going to need to invest in your own personal insurance policies.
By law you cannot be kicked off your parents’ Health Insurance plan until you turn 26 or your parents elect to take you off on their own. Auto Insurance can vary by company, and many will allow students to remain on their parents’ plan until graduation or until the age of 22. So, depending on your parents’ choices, you may be facing the reality of having to purchase your own policies.
So, graduate, aside from Health and Auto Insurance, what other insurances might you need? Try these on for size:
- Renters Insurance – This insurance is important to get for anyone who rents a home. It will protect your personal belongings in the event of that they are damaged or harmed. And no, your landlord’s insurance will not extend down to you.
- Life Insurance - Do you have anyone depending on you and your income? Maybe a spouse or child? Morbid as it might be, accidents happen everyday and you wouldn’t want to leave your family in the lurch.
- Motorcycle/Boat/Watercraft Insurance – Thinking about purchasing a new toy with that first hard earned paycheck of yours? Make sure you get it insured.
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