Bryant Asset Protection

As a new graduate - high school or college - you face a host of new challenges, responsibilities and questions. While various forms of insurance may not have been on your personal radar while in school, now is the time to learn some basics that will help you get off to the best possible start in your new life as a working adult. As you acquire the things we all need like cars, a place to live, furniture, computers and (hopefully) a good, steady income, you need to protect those things.

Renters Insurance

Most new grads find apartment living to be the most viable option for housing. Many, however, are not aware that the things they own inside their new apartment are usually not protected against a fire, water damage, theft or vandalism unless they have a renters insurance policy. The landlord's policy only protects the building you live in - not your valuable stuff inside the building.

Renters insurance is an inexpensive way of making sure that your things are protected. It costs around $150 per year to make sure that you can recover your things if they are stolen or damaged. Items such as musical instruments, jewelry, art, expensive cameras or electronics and antiques you may own can also be covered specifically for small additional charges.

Renters insurance also protects you in other important ways. If someone were to suffer an injury in your apartment your financial liability for those costs is covered up to the prescribed limit of your policy. Renters insurance even protects you when you are away on vacation or out of town for some reason, if you accidentally injure someone or vandals steal things from your car. As you can see, renters insurance is simply too good a deal to pass up - especially when you've worked as hard as you have to get established in life.

Saving Money on Insurance

For most of us, money is frequently an issue. But there are some strategies that you can use to get the best possible deals on insurance. First, be very cautious about buying insurance products online. You should almost always consult an independent insurance agent. They are local experts about insurance who will be more than happy to talk with you, answer your questions about insurance and help you get the best deals and the right coverage. For cautions about online insurance purchases, see this previous post.

Second of all, you should be aware that most insurance companies offer significant discounts for combining multiple policies with that company e.g. your new renters policy combined with an auto policy. The savings is generally a discount of 5-10% on both policies. You can often save enough on an auto policy this way to make a new renters policy almost no cost.

Speaking of auto insurance, an independent agent is the best place to start when striking out on your own. We also advise you to investigate taking a state-approved defensive driving course. Not only will this training make you a safer driver, it also saves another 10% on major portions of your automobile insurance. Courses can be taken in a classroom, but are also newly available online. Check this page for more information.

Other Considerations - Health Insurance

New grads are often faced with the prospect of needing health insurance soon after graduation.

Until that time, many are covered for health insurance by their parents' health policy. As a newly independent person, health insurance is a major requirement. With luck, your new employer may offer you health coverage as an employment benefit, but if not, you should investigate options with your independent agent. There are both public and private programs available that will remove that concern from your mind so you can focus on your career and your brand new life. Good luck!

Posted by Bryant Asset at 4:10 PM.