College graduation is an exciting time for students and their parents alike. And, while it’s easy to be immersed in graduation parties and focused on first-job jitters, it’s a time of major transitions and big decisions, and it’s essential to prepare graduates for what comes next.
One area new college graduates need to address is insurance. Our insurance professionals in Coeur d’Alene, Moscow and Spokane Valley know insurance can be a confusing topic. We also know that missed details can result in very large losses. We want to ensure your college graduate is protected before heading out into the “real world”, so we have compiled the following pointers for you and your graduate to consider.
Tips for the family of a new graduate:
- Review your family’s current insurance. The first step when considering insurance for your new graduate is evaluating the coverage you currently have. Make an appointment with your agent, we will take the time to meet with you and can help you decide if you have the appropriate coverage you need to account for any changes.
Tips for the graduate:
- Know the law. Most states require drivers to have auto insurance, and most of those have minimum policy limit requirements. Research the law in your state, or consult with your agent, to make sure they are covered adequately. The state limits in Idaho and Washington have differences and if you are moving out of state for a new job, the coverage limits may be entirely different than what you are used to.
- Read your lease. Many apartment, condominium and home rental properties require tenants to maintain a certain level of renter’s insurance, which covers the contents of the home in the event of a robbery, fire, or other loss. Make sure you know the terms of the new lease, and insure your belongings accordingly.
- Don’t end up liable. Any home renter or owner is exposed to liability risk. To ensure there is adequate coverage in the event someone gets injured on your property, speak with your agent about liability insurance.
- Don’t gamble! Never go without. It’s simple: you should always have insurance in place. Be sure to discuss with your agent what types you need for your lifestyle and belongings.
- Know your company benefits. Many college graduates move straight into the workforce, and most companies have benefits. Study the company’s human resources handbook to learn what benefits are available, when they go into effect, and what their limitations are.
Whether you graduated from one of the great universities in Idaho or Washington, or went to another state for your degree, Congratulations on your graduation! This is an exciting time for you and your family and we are here to help make it as easy as possible. Please contact us with any questions, or to request a review of your family’s insurance portfolio.
To review your insurance coverage with an local trusted agent, contact our office near you.
Insurance in Moscow, ID: Kuespert Insurance 208-882-0610
Insurance in Coeur d'Alene, ID: Panhandle Insurance 208-664-9223
Insurance in Spokane Valley, WA: Argonne Insurance 509-921-6809