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Tuesday, July 29, 2008
Homeowners Insurance: Tips for Reducing Your Premium
Comtex
ONTARIO, Calif., July 29, 2008 /PRNewswire via COMTEX/ ----With gas prices fluctuating, the mortgage crisis and economic conditions threatening a recession, people everywhere are looking to save money. A good place to start is with your homeowner's policy, says Frank N. Darras, one of Americas' top insurance lawyers.
(Photo: http://www.newscom.com/cgi-bin/prnh/20070717/NYFNSC02)
In spite of our economy, home values have increased over the past 5-15 years. Many people have failed to determine if their current insurance coverage would be adequate to replace their homes. Your policy should allow you to completely rebuild your home should a disaster occur. If not, get your policy updated to match your current property values. See http://www.darrasnews.com.
"Make sure you are not grossly underinsured," says Darras. "You will pay more in premiums but save in the long run, if disaster strikes."
Darras offers these tips to save money:
-- Determine the limits you want on your homeowners insurance, what value you need to insure, get multiple quotes.
-- Consider purchasing your homeowner, auto and umbrella insurance with the same company so a multi-coverage discount will apply.
-- Having smoke, burglar alarms and a sprinkler system could mean bigger discounts.
-- Get a quote for insurance that would pay to replace your belongings, rather than pay you based on their depreciated value.
-- Ask your agent what documentation you need to substantiate a claim, in case of theft or fire. Make sure you videotape all of you personal properties including what is in the drawers and cabinets and send the tape to someone you trust for safekeeping.
-- Make sure you carry enough liability coverage to protect you against a lawsuit if someone gets slips, trips or gets hurt on your property.
"Always read the policy when you receive it and ask your agent to slowly and carefully explain any provisions you don't understand. Finally, never buy insurance from a company you don't recognize," says Darras.
For more information see http://www.darrasnews.com or call 800-458-4577.
Available Topic Expert(s): For information on the listed expert(s), click appropriate link. Frank N. Darras http://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=39767
SOURCE Frank N. Darras
http://www.darrasnews.com
Copyright (C) 2008 PR Newswire. All rights reserved
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No, it's not a dance craze. Contago is a condition of supply and demand, essentially a fancy word to say that prices for items, typically commodities, are cheaper now than they would be at some point down the line.
Anything that¿s sold in the futures market can be in a case of contango. Futures are exactly that: a contract to buy an item or asset at a price in the future. This is the case with oil, with traders buying and selling contracts to acquire a barrel of oil in months down the line. When a market is in contango, spot prices, or the price of a commodity if you were to buy it right now, are lower than forward prices.
Why is that important? Well, it usually tells you the supply of a given commodity is plentiful (since, according to Economics 101, a large supply usually leads to cheap prices).
Incidentally, if you think contango is a mouthful, its opposite condition is known by the equally tongue-tying term backwardation.
