The Independent Insurance Agents of America have an excellent on-line guide to insurance for college graduates . The other insurance coverage that comes to a screeching halt when students graduate is health insurance. Whether they're still in school or not, they can't be covered under their parents' policy after age 23. Among adults age 25 to 34, the number improves only slightly, to nearly one in four. Grads should talk to an insurance agent about catastrophic coverage as an interim measure.
Some colleges also offer graduates interim coverage.
Take advantage of everything that's offered, including flexible spending accounts. It turned out their credit reports showed they were irresponsible. In some states, if several people rent an apartment together, they can't get a policy together, and some items, such as high-end stereo equipment and computers, might be difficult to insure. Also, recognize that most renter's insurance policies cover what an item is worth today, not replacement cost. The other commonly overlooked insurance need is disability insurance.