The Prewitt Group congratulates all of the recent graduates! As you embark on your journey into the professional world, many opportunities await you. Whether you are moving to a new town for a job, taking a little time off or looking for a job, it is critical that you put insurance coverage at the top of your list! We recognize that navigating the complexities of insurance can be tricky, so we’ve listed a few tips that will help you make informed decisions about choosing the right coverage.
Securing health insurance is one of the first and most crucial steps you need to consider after graduation. Health-related issues can arise unexpectedly, and having the right coverage will ensure you’re protected from potentially crippling medical expenses. If you have landed a job somewhere, your employer more than likely will offer health insurance. You will need to take time to evaluate your company’s coverage details, premiums and out-of-pocket costs.
Health Insurance:
If you are freelancing or working part-time you may want to consider staying on your parents’ insurance until you are 26.
Renters Insurance:
If you are moving into a new apartment or rental property, renters insurance is an essential tool for protecting your personal belongings from theft, fire or other unexpected events. This type of coverage includes liability protection which can save your finances in the long run especially if someone is injured while in your home or if you accidentally cause damage to someone else’s property.
Auto Insurance:
For those graduates who are planning to buy a car or already own one, auto insurance is not just a legal requirement but also a necessity to protect you from accidents and damages. You will need to evaluate policies that offer comprehensive and collision coverage, in addition to liability. Driving history, location and the type of car you drive will influence premium costs. There may be opportunities to bundle this coverage with other insurance policies.
Life Insurance:
It’s never too early to think about life insurance, because starting early can be beneficial. Securing a life insurance policy when you are young will help you secure lower premiums. This type of insurance will protect your loved ones financially in the event of your untimely death and will cover things such as student loan debts, and other debts as well as provide for your family.
Stepping out into the world after graduation is very exciting and is filled with wonderful possibilities. Having the right insurance coverage will protect you against unforeseen events so that you can focus on a bright and successful future. We are committed to helping you understand your options by helping you secure the best coverage for your needs. Reach out to one of our trusted advisors today and let us guide you through the process.