Insurance Insights for Young Adults
As you head to college or into the real world and the workforce, you're probably going to find yourself moving away from your parents' care and establishing yourself as an adult. Getting a job and moving out are a part of this, but there's a lot that goes into establishing yourself as an adult. Acquiring your own insurance coverage is big part of gaining indepencence as an adult.
Depending on your age or your employment situation, you may still be on one or more of your parents' policies, but it's never to soon to start figuring out exactly what you'll need to know in order to make the best decision on an insurance plan when the time comes. There are many different types of insurance, but here are a few of the big ones:
- Health insurance is crucial in helping protect your financial and phsyical well-being if you find yourself sick or injured. Under the Affordable Care Act, you're permitted to stay on your parents' plan until you turn 26, but depending on your situation, you may need to may decisions about your coverage before this.
- If you drive a car, you definitely need auto insurance. There are different levels of coverage for auto insurance and figuring out what everything means can get confusing, but we can help you figure out what you need and how you may be able to save a little money.
- When you live at home or in on-campus housing at school, your belongings are covered by your parents' homeowners insurance. But what happens when you move out? Renters insurance can be very helpful.
Do you have questions that weren't covered here? Our Bureau of Consumer Services can help you out. Give them a call at 1-877-881-6388 or reach them online here.