Insurance Tips for College Students and Young Adults Moving Out on Their Own

Moving out is a significant milestone for young adults that comes with financial responsibilities. When a covered peril happens, such as an accident or a break-in, you could be left to shoulder the costs on your own. Bargain Insurance Connection can help you find the right coverage for your lifestyle and your needs.

Essential Coverage for College Students and Young Adults

Understanding which policies apply is the first step to reducing your financial risk:

• Renters insurance: This coverage may help cover belongings such as a laptop, clothing or furniture against theft, fire and water damage. It also includes liability coverage for third-party injuries and property damage, along with additional living expenses coverage, which may help pay for temporary housing if your rental home becomes uninhabitable due to a covered loss.
• Auto insurance: This coverage is required in most states. If you drive a car registered in your name, you need your own policy, not your parents’.
• Health insurance: You may be able to stay on a parent’s plan through age 26, but gaps can exist depending on where you live and attend school.
• Life insurance: This coverage can be worth considering for young adults with student loans, co-signed debt or loved ones who may be affected by their financial responsibilities.

Why Coverage Matters When You Move Out

Leaving home uninsured poses financial risks for young adults. For instance, without renters insurance, replacing stolen or damaged belongings may come entirely out of your pocket. If you get in an accident without auto insurance, it may create financial obligations that could follow you for years. Building an insurance history early may also help you qualify for better rates and coverage options as your financial responsibilities grow.

Contact Our Agency

Contact Bargain Insurance Connection to review your options and find coverage that fits your situation. Our team is dedicated to helping clients in Kansas City, MO find the right insurance solutions at every stage of life.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.