You’re not done learning yet – here’s your introductory course on the basics of insurance: Insurance 101.
You have worked hard to achieve a degree and are now on to the next challenge. Maybe you are moving to a new city or buying a new car. Don’t forget one of the most important (often misunderstood) financial responsibilities of adulthood…insurance! Having adequate insurance knowledge and coverage could make or break your bank account if you’re involved with a claim such as an accident, theft, or damage. We’re here to help you get started with Insurance 101:
Premium: How much your insurance will cost you.
Deductible: How much you are responsible to pay before an insurance company will pay towards a claim.
Renter’s Insurance – Entering into a lease agreement after college is common. Many rental properties have landlord insurance to cover the building, but not the belongings inside. Renter’s insurance covers your contents within your rental property from unexpected damage or destruction such as theft, vandalism and fire. Think you don’t have enough valuable contents to justify a renter’s insurance policy? These policies are very affordable and our agents can help find the best fit for you.
Condo Insurance – Typically, as a condo owner, you own your unit and share ownership of the rest of the complex. Collectively, all the owners of the complex share the responsibility for insuring the “common” areas through a master insurance policy. Covering your own unit is your responsibility, and an adequate policy will cover your walls and the contents within them.
Auto Insurance – It’s common for new grads to purchase a reliable car to get to and from their new jobs. Some very important factors to keep in mind when purchasing a car is the year, make, and model of the vehicle, which impacts how much repairs will cost, which in turn has a large impact on your premium. Whether you will use the vehicle for pleasure or for driving to work, how far your commute is, your driving record, age, and location also play a part in premium costs.
Homeowner’s Insurance – If you own a home, you will need to know which type of homeowner’s insurance you need. This policy is a combination of coverage for personal property (your belongings) and liability for a dwelling that you occupy.
All of these types of policies would provide liability insurance which protects your assets (or future earnings) if you injure another person or damage someone else’s property.
Having the most inexpensive insurance policy might feel like a win at first, but could leave gaps in coverage that will cost you in the long run. Making sure you are properly covered is our job! Provide us with some basic information and let us shop around for the best coverage from the insurance companies we work with. Call an agent today to get started, or request a quote online and we will get back to you shortly.
