Life After College: What You Need to Know About Insurance

Written By Charlotte Insurance on April 13, 2023. It has 0 comments.

3 people who've recently graduated from college who need to consider their insurance needs.

Congratulations! You just finished college. Now it’s time to find a job (or go to grad school) and get some insurance policies of your own. While you were in school, your parents more than likely covered your auto insurance for you, and you never had to worry about things like renter’s insurance.

But realistically, these are just some of the many policies that you’re going to need in the immediate future. So, let’s go over them in depth.

Getting Auto Insurance

Unfortunately, since you’re more than likely under the age of 25, your car insurance rates will be a little higher than normal. However, you’ll still qualify for the same amount of coverage as everyone else, and if you keep your driving record clean and your credit score high, then your rate should get lower as you get older.

Car insurance is designed to protect you and the other drivers on the road. You’ll discover that you have options like full coverage, which includes everything, as well as simple liability, although having just liability isn’t an option in all states. In order to get a policy that conforms to your needs, it’s recommended that you consult with an insurance agent (give us a call!).

Signing Up for Renter’s Insurance

After college, it’s likely that you’re going to move out of the dorm and back into your parent’s house for a short time. Or you might head straight to an apartment with roommates or out on your own. If you choose the apartment option, then you’ll have to look into getting renter’s insurance.

While the owner of your apartment complex will have a policy on the entire building, protecting them in case of a fire, floor, or other damage, this policy doesn’t cover your things. It won’t pay to replace your furniture, dishes, clothing, computer equipment, or anything else in your apartment. This is where a renter’s insurance policy comes into play. It will cover your items in case something happens.

Don’t Forget About Health Insurance

Next, there’s health insurance. Due to the current laws regarding health insurance, you might be eligible for coverage on your parents’ policies until you reach the age of 26. However, if you get a job and are offered health insurance, it will be a good lesson to learn about things like deductibles and co-pays. Even if you don’t get a policy through work, you can still get your own during an open enrollment period. This is a good option for those who don’t want to stay on their parents’ health insurance.

Will You Need a Life Insurance Policy?

Your employers at your first post-college job may offer a life insurance policy on their employees. This coverage is usually very affordable. However, if you get married, have kids, and want to settle down immediately after college, you may want to look into getting your own life insurance policy, just in case. You never know what will happen, and it’s better to have your family protected, should something bad happen. Remember, the younger you are, the less expensive your life insurance policy will be!

Just graduating from college and want to explore your insurance options? Call our team at Charlotte Insurance today, and we’ll be happy to help ensure that all your insurance policy needs are met.

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