DON’T BE FOOLED, YOU NEED INSURANCE
Youth has its advantages, but a guarantee against the unpredictable is not one of them. While millennials are now the the most educated generation in the US, we still have a lot of learning to do when it comes to #adulting. Let’s be honest, we still lose our phones, need help figuring out what to do when we’re sick, and let’s not get started on the intricacies of understanding a lease (who HASN’T been screwed over by a landlord?!).
Insurance is not sexy. And also, why pay for something you don’t know you’ll need? But really that’s the point! It helps you prepare financially for an event you can’t actually predict. If you’re thinking you don’t have enough of value to insure – think again. You don’t have to own big ticket items like a car or home to need insurance.
Whether you’re fresh out of college or approaching your thirties, here are types of insurance you might need and why:
- Health Insurance – For the most part, younger people are healthier. But prevention is a #majorkey. Make sure you have insurance that can help keep you healthy so that you can minimize problems down the line. This is especially important for women, who should certainly be getting regular pelvic exams. And if you need affordable birth control, having insurance is a great way to get access.
- Renters Insurance – Did I say you can get screwed over by your landlord? If there’s a natural disaster, theft, or a fire in your rental, more likely than not your landlord won’t be required to help recover the cost of your items. That’s where renters insurance comes in – it can help you recover the depreciated cost of your items. Trust me, you’ll be relieved when you can replace your TV, sneakers, purses, and appliances, etc.
- Smartphone Insurance – Hey, things happen. Even though we are so attached to our phones, somehow they still get stolen, lost, or broken. And who wants to pay $400+ for a new one or downgrade until you can. An extra $10/month can help you get a new phone without having to hand over a small fortune upfront.
- Travel insurance – Have travel plans? Travel insurance can cover you for emergency medical expenses, lost/stolen baggage, trip cancellation, etc. Traveling is a huge investment, so you might as well avoid losing a chunk of money if something unexpected happens.
Investing in insurance may hurt now but always pays off if you end up needing it. It’s a great avenue to financial independence when you don’t have to ask someone else to cover you in an emergency. You may not be able to buy happiness in this world, but sometimes in specific instances you can buy yourself some peace of mind. And who doesn’t want that?