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7/9/2012 - Insurance guidance for recent graduates


Recent graduates may have new insurance concerns.

Now that summer is here and school is largely out of session, many college graduates are moving on to their next phase of life and thinking about things that they may have not considered before, such as finding a place of their own, buying a new car and obtaining their own auto or homeowners insurance policy.

To help graduates with some of these unfamiliar tasks, the Insurance Information Institute has released a web video that details what they should consider before securing a plan.

For example, because these former students may be tight on money, they may want to think about buying a low-profile car, as these tend to have lower sticker prices, are less attractive to thieves and have lower repair costs, III explains. They are also generally cheaper to insure.

As far as property insurance goes, many graduates tend to rent before they buy their own place. As such, they may think that their property owner's insurance policy will cover them if their belongings are stolen or damaged. In reality, however, only renters insurance will provide the protection they need to recover any losses they may experience.

For more insurance tips new graduates may find useful, click here to watch the video.

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