Insurance Checklist for New Graduates

Download the PDF here. Health Insurance

Check when your coverage expires. Graduating is likely to cause you to be dropped from your parental or school policy.

While the cost of health insurance may seem high, just one small accident or illness can cost you thousands; so imagine the costs of extended illness or injury. Ask for our “Cost of Being Uninsured” fact sheet.

Ask to rejoin or remain on your family health insurance plan. New state laws allow for families to extend health insurance coverage for unmarried dependents, which defines many college graduates. Each state is different, but many have enacted new legislation to extend dependent coverage to 24, 25, or even 26.

If you are healthy, have no family history of chronic medical conditions and expect to be employed full time in the next year, consider temporary health insurance or “Gap Insurance.” This affordable short-term major medical insurance can usually be issued within 24 hours.

“Gap insurance” may be an affordable alternative but recognize that it is temporary health insurance policy for you, so be sure to review the exclusions and limitations very carefully.

If you are healthy it may be more affordable for you to buy health insurance directly instead of through an unsubsidized health plan offered by your company.

For coverage information, please call 877-556-3984 or visit www.gradguard.com/medical

Renters Insurance

Once you leave the dorm room or obtain off-campus housing, realize that you may no longer be covered by your parent's home owners insurance.

If something happens, the financial hit can easily be more than just the cost to replace belongings. You are also liable for any damage or harm that you cause to others or property while occupying the space.

How much stuff do you leave in your car? Auto insurance doesn't cover items stolen from your vehicle - ipod, golf clubs, computer, etc.

Like to have friends over? Renters insurance personal liability helps protect you if someone is injured in your apartment by, say, dancing on the table or throwing a Wii remote.

When purchasing renters insurance, do an inventory of your stuff so you don't purchase too little. Theft is the most common insurance claim and replacement items can add up fast.

For coverage information, please call 800-625-1568 or visit www.gradguard.com/renters

Travel Insurance

If you have plans to study abroad or travel overseas, check your health and property insurance to verify coverage outside of the United States. If it does not, travel insurance can literally be a lifesaver in the event of an emergency, need for medical care, or the loss of property. It can cover from 10 days up to 12 months.

Read all of the fine print. If you are covered for basic emergency care overseas, most health insurance carriers do NOT cover costs to evacuate you and return you to native soil. This is an important benefit to consider when purchasing travel insurance.

Determine what valuables you will be traveling with before you shop for a policy. Jewelry, a laptop, camera equipment and other expensive items may require an additional property insurance component.

For coverage information, please visit www.gradguard.com/travel

About GradGuard GradGuard.com is the only online resource dedicated to the insurance needs of young adults. Offering insurance programs including Gap Health Insurance between graduation and full-time employment, travel insurance for graduation trips or renters insurance for personal possessions, GradGuard has done the homework regarding the risks facing new graduates and their families. GradGuard.com is a service of Next Generation Insurance Group, LLC, a national specialty insurance sales and marketing firm that enables consumers and organizations to manage risk affordably. For more information please visit www.gradguard.com and www.nextgenins.com or call 877-556-3984 © 2009 Copyright - Next Generation Insurance Group, LLC