Graduation season is nearing and with that comes the freedom and independence of adulthood. One rite of passage into adulthood is making your own decisions — including financial ones like insurance. The topic of insurance can be daunting for most people, especially young adults, who sometimes learn the hard way their coverage isn’t adequate until they need to file a claim.

Young adults, hold tight. Here’s one life lesson on insurance that you won’t want to miss!

Renters Insurance — protects your belongings damaged in a fire, theft or vandalism.

Auto Insurance — financial protection against physical damage, bodily injury from a car accident.

Life Insurance — a sum of money paid upon death of the insured person to the beneficiary (person legally designated to receive the money).

Another helpful tip is meeting with your local independent insurance agent. Your agent will be able to guide you through the process and answer any questions. It’s their job to find the best coverage to fit your life.