¡ñ If you own a car, you need auto insurance. According to the Arkansas Insurance Department¡¯s Web site, Insurance.arkansas.gov, the state requires every auto owner to have liability coverage, which will pay claims if you are at fault in an accident. The state requires minimum liability of $25,000 per person for bodily injury, $50,000 per accident and $25,000 to cover damage to others¡¯ property. How much this will cost you depends on your driving record, gender, where you live and what kind of car you drive, among other factors, but Insurance.arkansas.gov has an auto insurance cost comparison calculator with preset examples that will give you an idea of what to expect.

¡ñ Health insurance really is important. The National Association of Insurance Commissioners, through its Web site, Insureuonline.org, suggests that young professionals ignore the impulse to save money by skimping on health insurance, citing the financial devastation that can come from an unexpected medical bill. If your employer doesn¡¯t offer group insurance, consider ¡°a high-deductible major medical policy that only covers very serious or catastrophic health costs. It will offer lower premiums than regular health insurance policies and help you cover bills for ¡®major¡¯ medical events, like surgery, hospitalization or emergency room care.¡± If you have a gap in coverage because of an initial probation period at your workplace, the NAIC suggests looking into short-term extended coverage on a parent¡¯s policy through COBRA or purchasing a short-term catastrophic policy from an insurance agent.

¡ñ Smart consumers shop before they buy. Insurance.arkansas.govhas resources and advice to help Arkansans make informed choices about buying insurance. Tips include getting quotes from several companies before you buy, checking with the Insurance Department to make sure the company and agent are licensed to do business in Arkansas, and choosing based on coverage and service in addition to price. A Web site such as Ehealthinsurance.com will let you enter search parameters ¡ª ZIP code, age, gender ¡ª and receive preliminary health insurance quotes from several companies.

¡ñ Utilities could be your responsibility. Some apartment complexes pay for certain utilities and services, such as water or trash pickup, but your rental house may not. Find out which utilities you are responsible for and if you need to initiate service. Entergy Arkansas¡¯ Web site, Entergy-arkansas.com, says a deposit will cost anyone turning on service at a residence $180. You can pay all or part of that initial $180 before you receive your first electric bill, but you must pay the deposit in full, in addition to costs for your first month¡¯s use of electricity, when that first bill is due. Information about turning on water services in the Little Rock metropolitan area, for example, can be found by visiting Carkw.com. According to the Web site, an initial $15 fee is required.