What NH Graduates Need to Know about Insurance
Congratulations graduates for all your hard work. You now hope to turn your studies into a career and life of your own. Part of building your own life, and becoming independent, is to understand the basics of what you purchase. Renters/homeowners insurance, car insurance and health insurance are products that every adult has to buy throughout their life. To get your arms around these products, here is a brief summary, which will shed some light on what these policies are, why they are important, and what you need to consider when purchasing insurance.
The three types of insurance you need to consider after graduation are:
NH Car Insurance
While in school, you may have been on your parent's auto policy. This was possible because a NH auto policy covers resident relatives, which includes children while in school. Now that you are no longer in school, have moved out on your own, and/or have purchased a car in your own name, you need your own car insurance.
It is critical to understand that if you have a car in your own name, your parent's car insurance will most likely not cover your car, even if it is listed on their policy. The reason is because you cannot insure something you do not own. Your parents do not own your car, so they can not insure it, in most cases.
Another issue to understand is that it is very important not to go without car insurance. This is for two reasons:
- You risk having to pay for the damages of a claim out of your own pocket. Though you believe that they may not be able to get blood from a stone- think again. In New Hampshire, the courts are allowed to garnish wages so though you may not be earning much now, think about your future. A short-term decision could end up haunting your for years!
- Most New Hampshire insurance companies surcharge policyholders if there is not continuous coverage. Perhaps you think it would be better to go without insurance for a month or two, to save some money. Don't do it. You will pay more for your car insurance by having a gap because insurance companies will automatically put a policy into the non-preferred rate if any gap in coverage.
NH Renters Insurance
You have finally arrived. You are not in your childhood bedroom or a dorm. You are in your own apartment. It is amazing how much stuff you have already accumulated:
- laptop or computer
- DVD player
- gaming system
- clothes (shoes, purses....)
- kitchen appliances
They may not be fancy, and are a bit worn, but they are yours and part of your home. What if you came home one evening and everything was gone? Could you afford to replace all of these items, or would you be forced to move back home with your parents?
Renters Insurance covers your stuff not only when in your apartment, but also while in your car, at the gym, on vacation or anywhere else you take your things. It is protection against fire and other occurrences beyond your control—including vandalism and theft.
Maybe you think that it is your landlord's responsibility to insure your belongings. It's not. The landlord's insurance covers the building only. It's a renter's policy that will help pay for the replacement of your personal items.
For just a few dollars a month, HPM Insurance can get you a NH renters insurance policy that can provide you with the protection and peace-of-mind you need.
NH Health Insurance
You are young and healthy. Why would you need health insurance?
Let's say before starting your job you decide to take a month and drive across the county. You're in a small mid-western town when you have a sharp pain in the lower right side of your abdomen that will not go away with Tums.
The pain gets worse. You finally get medical help. You discover you have appendicitis and need your appendix removed immediately.
Wait a minute.
Do you even have a health insurance policy?
You may be able to stay on your parent's health coverage until 26, but be sure to check the specifics of your parents plan. It may be more economical for you to have your own policy vs. being on your parents.
Discuss this important life decision with us. We can help you find the best health plan, with the best value for this time in your life. We're experts in the all of the different options in the ever changing world of health insurance.
Why HPM Insurance
When you make the transition from college to "real-life," everything changes.
At HPM Insurance we have been working with graduates for decades and understand your financial pressure. We understand that you are just starting off and may have college loans or credit card debt to repay. Because we are an independent insurance agency we are able to shop your insurance around for the best coverage and price from the more than a dozen companies we represent. We are a local, well-established business who is here for you when you need us. Why call a face-less 800# when you email us [email protected] when it is convenient for you. If you want to drop by or call, we have local offices in Amherst and Bedford with your policy being handled by the same risk manager every time.
Insurance can appear intimidating to anyone. Don't fool yourself and pretend you know insurance. You will realize you don't understand insurance only after something happens and you don't have the coverage you thought. Get someone on your side to help you find the coverage and price to fit your needs.
Though the slick TV ads make it sound like this personalized service has to cost you more - it doesn't. You are at a time in your life when things are changing. Make sure you pick an agency that has the ability to keep up and service those needs. Contact HPM Insurance now to make your life a little easier. We look forward to hearing from you.
This material is for informational purposes only. All statements herein are subject to the provisions, exclusions and conditions of the applicable policy, state and federal laws. For an actual description of all coverages, terms and conditions, please refer to the applicable insurance policy or check with your insurance professional. The information presented is general in scope and, to the best of our knowledge, current at the time of publication.