Instead of a computer or a car, parents looking for a useful gift for a new college grad may want to consider health insurance.

New college graduates and their parents are often surprised to learn that many health insurance plans stop providing coverage to adult children through a parent’s plan even when they are living at home.

Typically, most adult children who are students will lose their coverage when they attain a certain age, graduate or are no longer attending school on a full-time basis. Since most of these new college graduates won’t have coverage until after they have found a job, many find themselves falling through a gap in coverage.

The number of young adults who fall into this category can be significant. According to a 2002 Census Bureau report, 18-to-24-year-olds are the least likely age group to have health insurance coverage.
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Auto insurance is a form of insurance available to consumers who own cars, trucks and other vehicles. It covers the insured party against the risks involved in owning or driving a vehicle. This may be a car accident, damage caused to other cars or property, loss to passengers in your car, and damage to your car itself.

Optional Covers

There are different levels of insurance available depending on what risks you wants to cover. You can cover against the costs of repairing your vehicle after an accident. You can cover the cost of purchasing a new car should yours be stolen or damaged beyond repair. These are optional covers.

Liability insurance on the other hand is compulsory for all drivers. This will cover the risk of claims being made against you as the driver or owner of the vehicle that caused damage to the property of another, the vehicle of another, for medical expenses of others injured as a result of an accident, including passengers in your car. If you have liability insurance, it will only cover these risks. If you have comprehensive insurance it will cover also the risks to yourself and your own vehicle. (more…)