Insurance is, by far, one of the most adult things to discuss in conversation and one of the most adult things to go and purchase on your own (or at least set up through your employer). It’s one of those things that kids don’t think about until they’re well on their own. Because even if they’re off at college, they can still be on their parents’ insurance.
With that said, there are some types of insurance that are absolutely essential. And since budgeting is a big part of becoming an adult too, insurance can be one of the top things young adults struggle with during the transition. Food and alcohol are likely a huge part of young adults’ budgets until they reel in the spending on eating out and purchasing booze. Sounds like most college kids, doesn’t it?
So, let’s take a look at types of insurance you absolutely need at all times.
Dental insurance is one of those that needs to be considered at all points in your life, because your oral health is directly tied to your digestive health and with speaking. These are two things that you need on a daily basis, meaning your teeth and gums matter in the grand scheme of things. Don’t settle for anything less than great dental insurance, as you’ll use it multiple times a year for the rest of your life.
This is likely the first thing to pop into your mind any time you hear someone talking about insurance. That’s because it’s the most recognizable, the most useful, and the most often used. Without it, you could possibly die from either illness or crippling debt. There’s no other way around it. You need health insurance. Don’t shirk on the likes of this type of insurance when it’s pretty much something you have to have.
Other than health insurance, this is the most common insurance people own because it’s pretty much illegal to not have an insurance policy for your car. The reason isn’t to protect yourself. Rather, it’s to protect other drivers in the off chance that you do them harm. If you happened to be in an accident and were found to be at fault without insurance, you could have some pretty hefty fines and worse. This will likely be your first insurance obtained “on your own”, since you’ll be driving at age 16.