Gary Serdoz

What's new in May? It’s graduation season! As the season approaches, it's crucial for new graduates to understand the importance of various types of insurance that can protect them as they transition into the next phase of their lives. Here's an overview of key insurance options for graduates:

1. Health Insurance Options

• Staying on Parents' Plan: Graduates under the age of 26 can typically remain on their parents' health insurance plan. This can be a cost-effective option while they transition to new jobs or further education.

• Marketplace Insurance: If graduates need their own coverage, they can explore health insurance options through the Health Insurance Marketplace. It's important to check enrollment periods and available subsidies.

• Employer-Sponsored Insurance: Many employers offer health insurance . Graduates should carefully review the options available to them when accepting job offers, as this can significantly impact their healthcare costs.

2. Renters Insurance

• Why It Matters: For graduates moving into apartments or shared housing, renters' insurance is essential. It protects personal belongings from theft, fire, or other losses and can also provide liability coverage in case of accidents.

• Inventory of Belongings: Graduates should create an inventory of their personal items to ensure they have adequate coverage.

3. Auto Insurance for First-Time Drivers

• Understanding Coverage Needs: New graduates who are driving for the first time or purchasing their first car should understand the different types of auto insurance coverage available (liability, collision, comprehensive).

• Discounts for Good Students: Many insurance companies offer discounts for recent graduates or good students, so it's worth asking about potential savings.

• Bundling Policies: If graduates need both renters and auto insurance, they should inquire about bundling policies with the same provider for additional discounts.

4. Life Insurance

• Considering Future Needs: While not an immediate necessity for all graduates, those with dependents or significant financial responsibilities may want to consider life insurance.

Encouraging graduates to assess their individual needs and explore their options will help them make informed decisions that can safeguard their future endeavors. Questions? Please give our office a call!

We are celebrating 30+ years in Madison Heights! We have proudly served Detroit and its suburbs - Madison Heights, Royal Oak, Troy, Clawson, Hazel Park, Ferndale, Warren, Sterling Heights, and the surrounding communities as a State Farm Agency. Personalized customer service is our top priority and our office has achieved the Crystal Excellence Legion of Honor Award. My team and I are prepared to assist customers with all of their insurance needs - car, home, life, health, and small business - let us be your 'Good Neighbor' and we will be there for your life's moments. Check out our 5-Star reviews on Google - and see how we will treat you like family!

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