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Insurance 101



Health Insurance

Health insurance can be incredibly confusing and new options are introduced regularly so it's good to do some research early. Some questions you may have include how much health insurance will cost, how you get it and how you figure out if a new job's health plan is right for you. This video series describes the basics of how health insurance works.

Collegeexpress.com's Ron Kallick wrote a great introductory article "Health Insurance for Recent Grads." This article will give you a good overview of fact finding, healthcare related questions to ask your new employer and the type of plans to look into to find what is right for you. This article is a good overview of where health insurance comes from, and where you could get it.

You may wonder if health insurance is a good investment, particularly if you are paying a lot out of pocket. Here is a helpful infographic to help determine if health insurance is a good investment for you.

For our college seniors and recent grads, here are 5 ways you can get health coverage. These include a Special Enrollment Period, Medicaid and CHIP coverage and continued coverage on your parents' plan until you turn 26.

Auto Insurance

In case you get into a minor or major fender bender, how can you make sure that the costs involved don't put a major kink your finances? What are the best ways to be prepared? Here are a few quick answers!

There are several types of auto insurance, ranging from liability to uninsured/underinsured motorist. Here are some basic definitions from DMV.org.

Finally, you might find it helpful to look through a glossary of common auto insurance terms, especially when you begin comparing policies. Policies can come from different companies, here is a list of some of the top auto insurance providers, you should shop around to see what prices and benefits you are wanting.

Renters Insurance

If you choose to rent an apartment or house instead of buying right away, renter's insurance is a smart way to protect your "stuff." According to Farmers Insurance, renter's insurance can cover your personal possessions (clothes, furniture, electronics), your personal liability (like if you spill some water and a guest slips and sues), medial payments (if someone other than a resident gets hurt in an accident at your place) and additional living expenses if you need temporary housing if your place becomes damaged and needs major repairs. Here are 3 Reasons to Buy Renters Insurance according to www.farmers.com.

Most renters insurance can be bundled with your current insurance provider. And most policies are very cheap at less then $25 a month, small price to pay to replace your stuff. 

You may still be wondering if you really need renters insurance, especially if money is tight. US News & World Report outlined and detailed how it can actually save you money now AND later. These myths include "I don't have enough stuff to need insurance coverage," "My landlord will cover property damages," "Renters insurance only covers my personal belongings," and "Renters insurance is too expensive". Here's a video explaining all that. 


Life Insurance

Life turns on a dime. You have no idea when you'll "need" insurance. That's why it's important to plan ahead. The nonprofit organization Life Happens is a great resource for learning more about life insurance, finding the right coverage and getting helpful tips.