Insurance Guide for Gen Z, Ages 17 to 27

NEWPORT BEACH, Calif. - EntSun -- If you were born between 1998 and 2013, you are called Gen Z or Zoomers. You range in age from 11 to 26 years old and have puzzled marketers. A lot of insurance companies spend money and time trying to figure out how to reach you as a consumer, especially if you qualify for car insurance. But what do people under the age of 27 really need to insure?

We know that as a demographic, you're inclined to do your research to make the best decisions, especially with so much advertising and information being aimed at you, so here are some truths about which insurance products you need and which you really can do without.

The great thing about being Gen Z is that you can stay on your parent's health insurance plan(s), until you turn 26. The problem is that not everyone's parents have health insurance.

If you're uninsured and your parents don't claim you as a dependent anymore, you can find low-cost health insurance in the health insurance marketplace. In fact, if you are on your parent's health insurance policy and turn 26 while it's not Open Enrollment season, you can still buy a policy because turning 26 is considered a Special Enrollment Period.

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You can find a subsidized health insurance plan that costs less than $40 a month, depending on your income and where you live. (more on this in the full article)

Gen Z drivers see the highest c (https://smartfinancial.com/auto-insurance/driver-age)ar insurance rates, which drop significantly around age 25, unless they have an accident or file a claim. If lucky (and still living at home), being on a parent's car insurance policy is probably the cheapest way to go.

If you have a roommate or roommates, their bad driving habits and low credit score will ding your rate too, unless you exclude them on your policy. If you do that, you better not lend them the car because if they have an accident while excluded, the insurance company will give you zero dollars.

For the full article which includes renters insurance, commercial insurance and life insurance, visit https://smartfinancial.com/gen-z-insurance-guide