You’re a recent college graduate (the ink hasn’t even dried on your diploma!) moving into your first apartment, navigating the world of endless paperwork and nailing down your first “real job” but you still don’t feel like you’re sure how to “adult” yet? We’ve been there! We have some awesome tips just for you on the insurance side of things!
People of ALL ages avoid talking about their insurance because it’s “complicated” and “confusing” but honestly, it doesn’t have to be! With an independent agency like ours, we can help you navigate the differences between “Personal Liability” and “Personal Property” and what on Earth “other than Collision” means.
Nobody wants to think about theft of your cool stuff from your apartment or hitting another vehicle, but if you protect yourself now, you won’t have to stress about it later. Now is the best time to kick your parent’s 25 year old auto policy to the curb and get your own coverage (and qualify for some awesome discounts too!)
- Figure out what coverage you need. (We can help!) If your car is financed, you’ll need to carry what is widely referred to as “Full Coverage” which basically means your car itself is covered. We will give you coverages that say “Comprehensive” (aka “Other Than Collision”) and “Collision“. You will choose a deductible – that is what you are responsible for before the insurance kicks in – and it can range from $0 to $1000 (or sometimes more!) The higher your deductible – the cheaper your monthly payment!
If you don’t have a financed car and you’re the proud owner of a beat up old Chrysler that belonged to your second cousin once removed, only starts on the first try every other Tuesday when the wind is blowing in a Northerly direction and was passed through 8 other family members before it made its way to you – maybe you only need Liability. This extends coverage ONLY to the other driver and their vehicle – and no coverage for your vehicle at all. Liability is cheaper than full coverage.
- When searching for your own Auto insurance policy, be sure to tell the agent if the car is registered to you or to your parents. If you have a claim, it could complicate things if your Dad needs to sign off on the check but your parents recently retired to Shady Pines in Florida, laying on a beach somewhere, but you’re here in Ohio (and freezing!).
- DISCOUNTS! If you bundle a Homeowners or Renter’s Insurance policy with your Auto Insurance policy, you’ll qualify for a discount! Sometimes, the Renter’s Insurance will more than pay for itself just with the discount on the Auto Insurance alone! Other discounts you may qualify for include – having a security system, working from home, your highest level of education, and even your job title!
- How much Personal Property do you really have? If you pick your apartment up, turn it upside down and shake it, everything that falls out is “Personal Property“. If your apartment is broken into or the unit catches on fire, you want to make sure you have more than enough coverage to be able to replace everything. This includes your couch, clothing, food, electronics, and so much more! We can chat about what you own and figure out how much coverage you need.
- Get Life Insurance ASAP! When you are young and healthy, your life insurance premiums are inexpensive and you can lock in your price. If you are newly married, it’s very important to get a policy to cover things like your Student Loan debt, Credit Card debt, Mortgage, and Burial Expenses. If you have children, we can also add them on to be covered as well.