Graduates face many new and exciting changes – understanding the changes that may also be necessary for the new graduate’s insurance is very important. Whether graduating from Watertown High School or Boston College, Massachusetts college and high graduates alike should consider and evaluate their need for auto insurance, renter’s insurance and an umbrella policy.
Car Insurance in Massachusetts – Many new graduates will need a car. A lender or leasing company that helps finance a car will require Car Insurance in Massachusetts. While there are many types of car insurance coverages available, in Massachusetts you are required to have four:
- Bodily injury to others
- Personal injury protection, also called PIP
- Bodily injury caused by an uninsured auto; and
- Damage to someone else’s property
In order to register and drive your car in Massachusetts certain minimum limits are required for each of these four coverages. Most drivers buy coverage beyond the minimum limits as well as consider comprehensive and collision as common additional coverage options. Be aware that if you fail to list any “customary” operator or licensed household member on your car insurance policy, the insurance company might refuse to pay a claim as a result. There’s a lot to learn when purchasing car insurance and we’re here to help.
Renter’s Insurance – When renting an apartment or house, Renter’s Insurance in Massachusetts offers comprehensive coverage which can help protect your possessions, like a computer, sporting equipment or jewelry, whether at home or traveling. Liability insurance can also help protect against the risk of being sued. Be aware that there are usually limitations on renter’s coverage within a group house (which is often the case for new graduates) so it’s important to understand the details of the policy.
Umbrella Policy – An umbrella policy can add another level of protection. Personal umbrella coverage is broad protection (like an umbrella). It does not replace your renter’s or car insurance policies. It is designed to supplement these policies.
The time to find out that your insurance coverage is incomplete is NOT after you have an insurance claim.
We’re here to help. For a no cost, no obligation review and comparison of your insurance please contact us.