Other insurance you might need

Since most new college grads don't have dependents yet, life insurance is probably a pretty low priority. On the other hand, disability insurance should be a higher priority. If your employer makes one available as a fringe benefit, it probably won't cost much and it's a very good deal. (Individual policies, unfortunately, tend to be prohibitive.) In order to avoid adverse selection problems, employer-provided disability plans often require that you need to sign up promptly as soon as you are eligible, in order to keep premiums costs low.

Auto insurance coverage is going to be a significant insurance expense for many of you. It's worth shopping around. In general, high deductibles will pay for themselves very quickly in lower premiums.

Although few of you will buy a home for a while and therefore you won't need homeowner's insurance, you may want to consider a renter's policy to cover your household goods (furniture, electronic equipment, etc.) They are often available at fairly modest cost (especially if you opt for a high deductible.)