The Insurance You Need in Your 20s
Even though money can be tight when you’re in your 20s, you should still aim to get appropriate insurance coverage in case the worst happens. Whatever life has in store for you, whether it’s college, a family, traveling the world or moving abroad, there’s always insurance available to help keep you safe and covered. When you’re looking for insurance in Hudson, NY, check out the types of coverage you need in your twenties.
Being young and healthy doesn’t immunize you from medical bills, unfortunately. One accident or illness could saddle you with five- or even six-figure debt. If you’re under 26, you can remain on your parents’ policy under a federal law that is part of the Affordable Care Act. If you go without coverage, you could be subject to a high fine and face extortionate health care bills if an accident or illness does occur.
When you get a car, you’ll need to insure it. Insurance rates vary according to everything from who is driving the car to your driving history. If you’ve been driving sensibly since a teenager, then your premiums will be lower compared to being older by recently passing your test.
While you have to obtain homeowners insurance when you get a mortgage, typically no one forces you to buy renter’s insurance. Be aware that the landlord is not responsible for your belongings in the event of a disaster. You could easily lose everything in an apartment fire, a natural disaster, or a break-in. What’s more, standard renter’s insurance policies provide personal liability coverage, which kicks in if someone gets injured on your property.
If you got hurt or sick and couldn’t work, how long would your savings last? Long-term disability insurance is something many people, especially youngsters, overlook, but it’s more valuable the younger you are. When you’re just starting out, your biggest financial asset if your ability to earn an income. Disability insurance will help to provide income should you be disabled and unable to work. This is even more important if you have dependents relying on your income.
Whether you’re in your 20s or well into your older adult life, the team at Kneller Agency is here to help with all of your insurance needs. Visit us in Hudson, New York to get started on your tailored policies.