A College Graduate’s Guide to Insurance

The road to a college degree is mainly about preparing for life outside of school and coming out from your parents' wings. Unfortunately, higher education also comes with a financial burden. In order to save some money to protect yourself and your belongings, it's time to think about insurance.

Why Do I Need It?

Some may question the necessity of any type of insurance if they are living a relatively safe and healthy lifestyle. It is important to remember, anything can happen at any moment, so preparedness is key.

Health Insurance:

Everyone needs health insurance, no matter what their lifestyle. Medical treatment can be extremely expensive. Unexpected illnesses and injuries could wipe you out financially. Many employers will cover part of your premiums, so once you've landed your first job, ask questions to find out if you're covered. If you have been under your parents' insurance, be sure to find out if you are still eligible after you graduate, or until what age. If your new job doesn't offer health insurance, shop for individual coverage rates.

Renter's Insurance:

You may be considering living with roommates after college, which is a great way to save money. If you are planning to live with your parents and they have a homeowner's policy, this may not be necessary, but it's always a great idea to keep your options open.

Auto Insurance:

If you have a car or are planning to purchase one, shop for affordable auto insurance rates. There are even a few companies which will give certain discounts based on organizations or societies you were a part of in school. It's always best to ask questions to find the best rates possible.

Liability Coverage:

Along with your renter's and auto insurance policies, be sure to purchase a good amount of liability coverage. If you are found liable in an accident, the amount you owe could run into the hundreds of thousands of dollars in terms of medical bills, pain and suffering, etc. This sort of loss could be financially devastating.

Don't Take Benefits for Granted:

If your employer is offering benefits such as a retirement plan which matches part of your contributions, don't ignore it just because you're young. Yes, retirement may be the last thing on your mind at this stage in life, but it will affect you later in life.

Weigh Your Options:

Try not to pull out your credit card for the first low price you see. Always remember to compare your options before settling for something. It's not always a bad idea to ask for advice from parents or mentors before making a decision. You don't have to spend a whole lot of money to get the best coverage possible, but spending a few dollars on the right policy can save you a bundle.

We hope you will keep these tips in mind as you plan your post-grad life. Best of luck!

Thank you for visiting our blog. Florida Peninsula Insurance Company is one of Florida's top homeowners insurance companies. Our cutting-edge technology combined with old-fashioned values, enables us to provide outstanding customer service and claims processing. To obtain a free home insurance quote, call (877) 229-2244 or get a quote on our website.

Other blog posts like this

Navigate the Florida Peninsula Insurance claims process with ease. This step-by-step guide explains our fast, fair, and friendly claims processing.
Florida Peninsula Insurance Company
June 1, 2023
Is your home covered if disaster strikes? Is the coverage enough? Know the difference between market value and replacement cost before you buy insurance.
Florida Peninsula Insurance Company
May 1, 2023
We all love our furry friends and over time they become a part of the family. But we can’t forget our pets are still animals who sometimes cannot control their behavior. The American Veterinary Medical Association states there are nearly 85 million dogs living in U.S. households. About 4.5 million people are bitten by dogs each year, most of them are children. To protect your pet and those around them, you should consider obtaining animal liability coverage.
Florida Peninsula Insurance Company
April 1, 2023