1. Children: Children do not need life insurance. Yes, there have been cases where life insurance for one’s child has been a blessing, but in the majority of cases, children do not need life insurance since no one depends on income from them.

2. Beginning Families: Life insurance should be purchased if you are considering starting a family. Your rates will be cheaper now than when you get older and your future children will be depending on your income.

3. Established Families: If you have a family that depends on you, you need life insurance now! This does not include only the spouse or partner working outside the home. Life insurance also needs to be considered for the person working in the home. The costs of replacing someone to do domestic chores, home budgeting, and childcare can cause significant financial problems for the surviving family. 

4. Young Single Adults: The reason a single adult would typically need life insurance would be to pay for their own funeral costs or if they help support an elderly parent or other person they may care for financially. Otherwise, if one has other sources of money for a funeral and has no other persons that depend on their income then life insurance would not be a necessity.

5. Non-Child Working couples: Both persons in this situation would need to decide if they would want life insurance. If both persons are bringing in an income that they feel comfortable living on alone if their partner should pass away, then life insurance would not be necessary except if they wanted to cover their funeral costs. But, maybe in some instances one working spouse contributes more to the income or would want to leave their significant other in a better financial position, then as long as purchasing a life insurance policy would not be a financial burden, it could be an option. For a low cost life insurance option look into Term Life Insurance

6. Elderly: As long as you do not have people depending on your income for support, life insurance at this stage in life would not be necessary, unless again, you do not have any other means to pay for your funeral expenses. But, be aware that purchasing a life insurance policy at this age can be very expensive. Before doing so, first talk to a financial advisor or accountant about looking into other saving options to pay for your funeral costs before considering life insurance.

 “This is the perfect time of year to refresh yourself on the winter weather rules of the road,” says Robert Watmuff, an exclusive agent of Allstate Insurance Company. “It’s also important to remember that your winter weather safety starts before you even pull out of the driveway.”

 Allstate Insurance Company offers drivers in Pennsylvania the following safety tips when driving in extreme winter weather conditions.

 Reduce your speed

Snow and ice greatly increase the stopping distance for all vehicles. Even four-wheel drive vehicles need to adjust to hazardous road conditions. Not knowing when you are about to encounter black ice, the best driving advice to those that must be on the road is, slow down.

 Maintain your car and check:

• Tires for wear
• Battery for full charge
• Wipers work and the windshield fluid is full
• Heating and cooling system are operational

 Prepare for the unexpected and carry a winter driving safety kit, which should include: 

• Flashlight
• Jumper cables
• Blankets
• First-aid kit
• Shovel
• Cellular telephone

 The National Highway Traffic Safety Administration recommends that the following steps be taken when a vehicle stalls:

• Stay with the car
• Put a bright marker on the antenna or in the windows
• Clear the exhaust pipe, if you can run your car
• Run your car just long enough to remove the chill

 For additional information, contact local Allstate agent [insert name of agent] at [insert street address and telephone number] or visit www.allstate.com/catastrophe for more weather-related tips. The site contains useful information and tips on what to do before, during, and after weather-related storms.

“Winterizing, especially in this tough economy, is a great way to avoid spending money that could be better spent or saved,” says Robert Watmuff, an exclusive agent of Allstate Insurance Company. “Investing a few dollars now could save you a bundle later should the unfortunate happen.”

Allstate Insurance Company offers Pennsylvania residents the following tips to protect their home and personal possessions this winter season.

Preventing Your Pipes from Freezing

It doesn’t take subzero temperatures to put your pipes to the test. An outdoor temperature of 20 degrees is enough to stress your plumbing.

· Disconnect all gardening hoses, shut off the water and install covers on outside faucets · Wrap pipes that are near your home’s exterior walls with insulation or heating tape

· Identify the location of the main water valve and the valve on your water heater so that, if necessary, you can turn them off quickly and easily

· Close all windows near water pipes and cover or close open-air vents. Freezing temperatures and wind drafts can cause pipes to freeze more frequently

· Insulate outside walls and unheated areas of your home · Sufficiently heat your basement and consider weather-sealing your windows

· Keep the temperature of your home at 68 degrees · Open sink cabinet doors to allow heat from the home to enter. Pipes under the kitchen sink are particularly vulnerable.

· If you plan to be away for an extended period, shut off the water supply valve to your washing machine. Have someone monitor your pipes and the temperature inside your home

· Monitor the water flow from your faucets. Reduced flow could indicate early freezing. Allow faucets to drip lukewarm water to reduce the risk of freezing

If Your Pipes Freeze

· Shut off the main water valve · Open all faucets to relieve pressure in the pipes · Wrap warm rags around cold sections of pipe or pour hot water on pipes. An inside faucet or pipe also can be thawed with a good hair dryer, but don’t use the dryer around standing water, and don’t use a blowtorch

· When thawing a pipe, start thawing nearest to the faucet. Make sure the faucet is on so that melted water can drip out If Your Pipes Burst · Immediately shut off the main water valve

· If a hot water pipe breaks, the valve on top of the water heater should be closed · Call a plumber. Keep an emergency number nearby for quick access

· Call your insurance agent to report the damage

To Prevent Ice Damming

 Winter storms and fluctuating temperatures can create lumps of ice, called ice dams, in gutters, eaves and valleys prevent water produced by melting snow from running off the roof. Water backs up behind the ice dam and seeps under shingles or tiles, eventually working its way into homes. The moisture can warp wooden floors, stain carpets and deteriorate plaster and drywall.

·Keep gutters and downspouts clear of leaves and natural debris

·Identify areas of heat loss in your attic and properly insulate. Escaped heat melts snow on the top of your roof, which adds to the backup of water behind the ice dam

·Wrap or insulate all heating ductwork in order to reduce heat loss through the attic

·Use a snow rake or soft broom to clear fresh snow from gutters before it has a chance to freeze

·Avoid using sharp tools or ice picks on gutters or downspouts as they tend to do more harm than good

·For personal safety reasons, avoid getting on the roof and avoid working on a ladder or beneath a roof that has accumulated large amounts of snow. You could be hurt by falling icicles or avalanching snow

Alternative Heating Source Safety

According to the U.S. Energy Department, the cost to heat residential homes this winter with natural gas will rise 18 percent ($1010 per household) from last year. The cost of heating oil, used widely in the Northeast, is expected to rise 23 percent ($2388 per household) this winter. With temperatures falling and costs to heat your home rising, many are turning to alternative heating sources, such as wood burning stoves, electric radiators, kerosene or oil heaters.

Allstate and the Home Safety Council offer the following tips for staying safe while using alternative heating sources this winter:

 Portable Space Heaters

Purchase electric space heaters that bear the mark of an independent testing laboratory, such as UL, ETL, or CSA

Place space heaters at least three feet away from anything that can burn – including furniture, people, pets and window treatments

Turn off space heaters before leaving a room or going to sleep

Supervise children and pets at all times when a portable space heater is in use

Use kerosene heaters only where permitted by law. Use the recommended grade kerosene and never use an alternative fuel. Kerosene heaters must be fueled outside

Never use space heaters to dry clothing or blankets

Fireplaces and Wood Stoves

Burn only seasoned hardwood – not trash, cardboard boxes, or Christmas trees because these items burn unevenly, may contain toxins, and increase the risk of uncontrolled fires

Have a professional chimney sweep inspect chimneys annually for cracks, blockages and leaks and have them cleaned and repaired as needed

Keep all persons, pets and flammable objects, including kindling, bedding, clothing, at least three feet away from fireplaces and wood stoves

Open flues before fireplaces are used Use sturdy screens or doors to keep embers inside fireplaces Install at least one smoke alarm on every level of your home and inside or near sleeping areas

Keep young children away from working wood stoves and heaters to avoid contact burn injuries

For additional information, contact local Allstate agent Robert Watmuff at 829 West Sproul Road, (610) 544-9900 or visit www.allstate.com/catastrophe for more weather-related tips. The site contains useful information and tips on what to do before, during, and after weather-related storms.

Each year, hospital emergency rooms treat about 8,100 people for injuries, such as falls, cuts, and shocks related to holiday lights, decorations, and Christmas trees. In addition, Christmas trees are involved in more than 400 fires annually, resulting in 30 deaths, 90 injuries, and an average of more than $17 million in property loss and damage.

Have a safe and happy holiday season by following these safety tips.

Trees

• When purchasing an artificial tree, look for the label “Fire Resistant.” Although this label does not mean the tree won’t catch fire, it does indicate the tree will resist burning and should extinguish quickly.
   
• When purchasing a live tree, check for freshness. A fresh tree is green; needles are hard to pull from branches and when bent between your fingers, needles do not break. The trunk butt of a fresh tree is sticky with resin, and when tapped on the ground, the tree should not lose many needles.
   
• When setting up a tree at home, place it away from fireplaces and radiators. Because heated rooms dry live trees out rapidly, be sure to keep the stand filled with water. Place the tree out of the way of traffic and do not block doorways.
  

Lights

• Indoors or outside, use only lights that have been tested for safety by a recognized testing laboratory, which indicates conformance with safety standards.
   
• Check each set of lights, new or old, for broken or cracked sockets, frayed or bare wires, or loose connections, and throw out damaged sets.
   
• Use no more than three standard-size sets of lights per single extension cord.
   
• Never use electric lights on a metallic tree. The tree can become charged with electricity from faulty lights, and a person touching a branch could be electrocuted.
   
• Fasten outdoor lights securely to trees, house walls, or other firm supports to protect the lights from wind damage. Use only insulated staples, not nails or tacks, to hold strings in place. Or, run strings of lights through hooks (available at hardware stores).
   
• Turn off all lights when you go to bed or leave the house. The lights could short out and start a fire.
   
• For added electric-shock protection, plug outdoor electric lights and decorations into circuits protected by ground fault circuit interrupters (GFCIs). Portable outdoor GFCIs can be purchased where electrical supplies are sold. GFCIs can be installed permanently to household circuits by a qualified electrician.
  

Decorations

• Use only non-combustible or flame-resistant materials to trim a tree. Choose tinsel or artificial icicles of plastic or nonleaded metals. Leaded materials are hazardous if ingested by children.
   
• Never use lighted candles on a tree or near other evergreens. Always use non-flammable holders, and place candles where they will not be knocked down.
   
• In homes with small children, take special care to avoid decorations that are sharp or breakable, keep trimmings with small removable parts out of the reach of children to avoid the child swallowing or inhaling small pieces, and avoid trimmings that resemble candy or food that may tempt a child to eat them.
   
• Wear gloves to avoid eye and skin irritation while decorating with spun glass “angel hair.” Follow container directions carefully to avoid lung irritation while decorating with artificial snow sprays.
  

Fireplaces

• Use care with “fire salts,” which produce colored flames when thrown on wood fires. They contain heavy metals that can cause intense gastrointestinal irritation and vomiting if eaten. Keep them away from children.
   
• Do not burn wrapping papers in the fireplace. A flash fire may result as wrappings ignite suddenly and burn intensely.

I would like to make the following suggestions:

Shop for the best deal. Get at least three quotes. See if your state department of insurance has any price comparisons available. But don’t just look at prices. Evaluate which companies provide the best customer service and are readily available to answer your questions.

Raise your deductible. The higher your deductible, the less premium you’ll have to pay. The III says if you raise a $500 deductible to $1000, you may save as much as 25 percent.

Buy your home and automobile policies from the same insurer. Some companies will reduce your premium up to 15 percent if you have at least two policies from them.

Reduce the odds of being affected by a disaster. Make your home more resistant to disasters – you might be able to save by adding storm shutters and shatter-proof glass or reinforcing your roof.

If you live in an older home, you should consider modernizing your heating, plumbing and electrical systems to reduce the risks of water and fire damage. Understand the costs. The cost to rebuild your home is going to be different than what you paid for it. Don’t include the cost of the land in deciding how much coverage to purchase.

Secure your home. Some companies offer a modest discount, usually at least 5 percent, for installing smoke detectors, burglar alarms and dead-bolt locks. Some insurers will also offer a discount if you install a sprinkler system and a fire and burglar alarm that rings at the police, fire or other monitoring stations. First you’ll want to research the costs involved, and whether you’d be saving on your premiums.

Inquire about discounts. Ask your company about all potential discounts. For example, some offer discounts to those 55 and older.

Stay put. Many companies offer discounts for longer-term customers – sometimes up to 10 percent if you’ve had your policy through the company for more than six years. Be sure to compare prices against other companies once in awhile.

Review your policy and the value of your possessions. If you sold that pair of diamond earrings or other valuable for which you have a floater policy – additional coverage for items not covered by a standard homeowners policy – be sure you’re not paying for the extra insurance.

 19. Cheesesteaks come “wit” or “wit out.”   Philadelphia is a foodie’s heaven with some of the best steakhouses to vegetarian bistros in the nation.  We are also home to 2 Iron Chefs, Morimoto and Jose Garces. The best way to get a taste of many of the great restaurants on a budget is to go during the fall or spring “Restaurant Week” where 3 course lunches and dinners are served for only $20 and $35 respectively.  In addition to haute cuisine Philly does have some hometown favorites which you will partake in sooner or later:  The Soft Pretzel available for $.35 everywhere (try it with deli mustard), Tastycakes, (the name says it all), and Water ice, (“wooder-ice”, a summertime treat). Finally, for the record, our oversized sandwiches are referred to exclusively as Hoagies (not subs or grinders), whatever you do, do not eat scrapple (trust me) and its soda not Pop! 

 18. Philadelphia is the 6^th largest city in the USA, but is really a college town at heart. Philadelphia has the nation’s largest per capita concentration of higher education institutions, with over 85 colleges, universities and technical schools, and 7 schools of medicine. The University of Pennsylvania is  ranked the #1 top national university according to the 2008 U.S. News & World Report.  Whether you are looking for the Ivy League, Big 10, Liberal Arts, Jesuit University, Seven Sisters, or a State School you will have your choice of well over 85 institutions of higher education.

 17. We know how to get around.  It is easy to get to Philly by plane, train or automobile.  Philadelphia International Airport (PHL) is served by 22 airlines flying to 84 domestic and 40 international destinations.  PHL was ranked the #1 airport in North America for passenger satisfaction (J.D. Powers, ’08). Plus, it is only about a 15 minute drive from Center City; by taxi it is a $28 flat fee or $5 by train. The 30^th Street Amtrak station is conveniently located and the train can get you from Boston to DC in no time on Acela Express, its high speed line.  Traveling here by car is easy, 2 major highways, 1-95 and 76 or a bridge, will drop you right downtown. Once you arrive in Center City it is easy to find your way because aside from the Parkway, Vine Street, Broad Street, & lower Market Street–every street is one way and laid out in a grid.

 16. Don’t look for a beer or wine aisle at the grocery store.  Pennsylvania has some weird blue laws that only allow alcohol and wine to be sold at state run shops and beer distributers.  A movement to change this has been met with major resistance from people in rural parts of the state. It is annoying, but not horrible.  However, if you want a better selection and prices, just travel over the Ben Franklin Bridge to Jersey and you will be in alcohol megastores in a matter of minutes.  While you are there fill up on some of the cheapest full service gas in the country! Moreover, due to the weird rules, we have over 100 awesome BYOB restaurants throughout the city (see #6).

 15. If you live in Center City (downtown) everything you could ever want or need is within walking distance. It is rated one of the top 5 most walkable cities in the United States and if you live in Rittenhouse Square, Society Hill, Washington Square, Bella Vista, Queen Village, Old City, Logan Square, Fitler Square, G-Ho or Art Museum you can pretty much live your whole life in a 2 square mile radius

 14. It Is Always Sunny in Philadelphia, at least it seems that way. We have all four seasons and none are very extreme. Thanks to an average temperature of 41 in January and 85 in August and an early spring and late fall; we are usually having a great day!

 13. The health system is SICK (urban for awesome)!  Sure Philadelphia is considered the Birthplace of American health care since Ben Franklin opened 1^st public hospital here in 1751.  The same hospital, Pennsylvania Hospital is still running and ranked one of the best hospitals in the United States.  But did you know the 1^st Medical School, Maternity Ward, School of Pharmacy, Children’s Hospital and Bio-Medical Research Institute all started here as well.  Fast forward to today, and you will find some of the best hospitals in the nation, with over 120 hospitals, including 24 teaching, and nearly 500 doctors per 100,000 people in the metro area.  There are 7 medical schools (2 osteopathic), 5 national cancer institutes and over 80% of the world’s major pharmaceutical firms including 8 of the largest. So whether you are a health care provider or you need one, Philly is the place to be!

 12. To see or not to see in Philly…  It is true that you can hop on the train and be on Broadway in only an hour and a half, but why do that when you can see any one of up to a dozen plays in Philly on any given night.  The theatrical scene rivals that of any major city outside of New York. There is always a great play to catch at The Walnut Street Theater (the oldest in America) or a musical at the Kimmel or at any one of dozens and dozens theatrical venues. We also are host to the world famous Fringe Festival and the Philadelphia Film Festival.

 11. It is a great place to grow up. If you walk on the street in Center City it is nearly impossible not to see a stroller or a young child.  We have amazing parks and playgrounds in every neighborhood, a brand new children’s museum, and the best children’s hospital in the nation. In addition, we have loads of great pre-schools, three of the best private elementary schools in the country, dozens and dozens of top-notch universities and oh so much more.  Plus, it is the birth place of our country, living here really makes history come alive. Whether it is strolling through the cobblestone streets of Society Hill or visiting Independence Hall, and Betsy Ross’s House or viewing the actual Declaration of Independence and Liberty Bell,the history is real fun. It’s almost like always being on a field trip.  

 10. It is one of the foremost creative cities in the world.  The City of Philadelphia has always been known for its music scene, whether it was Billie Holiday singing the Blues, Dick Clark doing the Doo Wop, or David Bowie bringing Ziggy Stardust life, it all happened within city limits. Today, the list of concert halls are staggering from the world famous, critically acclaimed Kimmel Center to the outdoor venue Mann Music Center to the World Café.  Philadelphia has the Opera, The Ballet, Peter Nero & the Philly Pops, The Symphony (One of the “Big Five” American orchestras, founded in 1900) and loads of great halls like The TLA, The Trocadero and Khyber Pass to name a few, so there is always a concert somewhere every night to go to see.       

 9. We Play Ball! Philadelphia is home to the World Champion Phillies, and the almost World Champion Eagles, 76ers, and Flyers.  We also have two of the newest and nicest stadiums around.  We also have an indoor soccer team, The Kixx an outdoor soccer team, The Union, and a professional men’s lacrosse team, The Wings.  In general, Philadelphians are pretty passionate about their sports teams.  It is not advisable to wear non-Eagle NFL team jerseys on Sundays in the fall just because it is considered rude.   

 8.  BYOB’s Rock  Liquor licenses are incredibly expensive in this town, so there are over a 100 Bring Your Own Bottle restaurants, with the majority not charging a corkage fee. They range from fine cuisine to 10 table cafes and are everywhere.  Best of all, paying the bill will make you almost as happy as when you were eating the food.

 7. The Art Scene is Insane.  Everyone has heard of the Philadelphia Museum of Art, the one in Rocky, but have you ever heard of The Barnes Foundation, The Rodin Museum, The Institute of Contemporary Art, Pennsylvania Academy of Fine Art, just to name a few? On top of that there are about 100 great galleries throughout the city and they are especially concentrated in Old City, where on the 1^st Friday of each month, the whole neighborhood turns into an Art Show.    

 6. There are income taxes, but there are NO TAXES on the essentials.  Admittedly, income taxes are high, but they are in line with all major cities on the east coast.  However, they are declining every year, thanks to our super smart and savvy new mayor, Michael Nutter. But we do not pay sales tax for food, clothes or shoes (see # 3).  If you don’t want to pay taxes, then you can always move to Fargo.

 5. The Philadelphia Parking Authority is the most effective branch of enforcement in the city and quite possibly the universe. They even have their own reality show on A&E.  Plan on getting tickets, but now with the new Smart Card and new meters that take them, as well as dollar bills and credit cards, you will never need quarters. Moreover, Philly is so pedestrian friendly you do not even need a car, but if the urge strikes you can rent one super cheap by the hour with ZipCar.

 4. The Shopping is divine and you pay absolutely, positively NO TAXES on Clothes AND Shoes. So that means that clothes are almost 10% cheaper than if you bought it in Chicago or L.A.  Moreover,  just about every single store or outlet you can imagine is either in Center City, King of Prussia (one of the biggest shopping malls in the world) or in the Franklin Mills or Premium outlet malls.  You name it, we got it.

 3. We are the Center of the Universe.  The Shore (Atlantic Ocean), The Pocono Mountains, New York City and Washington DC are all less than 2 hours away and can easily be reached by train or bus.  In addition, to dozens of places that surround our great city North, South, East and West, like Amish Country, Atlantic City, Annapolis and Allentown just to start with the A’s!  Moreover, you can be in the Caribbean in less than 3 hours and in London in just over 5 hours. Philadelphia is the most centrally located city in America as far day trips go. There is always somewhere to go or something to do.

 2. We have what one might consider the slightest bit of attitude.  That’s right I said it-to an outsider we can be a bit snarky.  However, we are undeniably the City of Brotherly Love and once you get to know us you will truly understand that Yo! is a perfectly welcoming greeting, it is quite acceptable to both love and hate The Iggles and we are, by all accounts, quite friendly.  In fact, it is hard to have a day go by without someone calling you honey or exchanging a smile with a perfect stranger.  To strike up an enthralling conversation with anyone just ask about the World Champion Phillies and take it from there.  We have our own unique culture and although we are a great, big city, each neighborhood is really just a tight community where people take the time to get to know each other.    

 1. After all, I’d rather be in Philadelphia.  Philadelphia has one of the healthiest real estate markets in the nation, due in part to our abundance of hospitals, pharmaceutical companies,  universities and law firms.

To start building your college savings, here are a few tips:

1. Assess the Details. The first step is for parents and teens to analyze their current situation together, taking into account what they already have saved for college and how long it will be before the first year of school begins.

2. Select an Appropriate Account. After assessing your financial status and determining what you’ll need, the next step is to compare the benefits of different savings options. A 529 college savings plan, for example offers a prepaid tuition option, which locks in costs of tuition and mandatory fees or a savings plan, which doesn’t lock in tuition costs but also covers room and board, books and mandatory fees. Other options include a Coverdell education savings account, which is similar to a Roth IRA in which taxes are paid up front but the savings grows tax-free and are taken out with no taxes due. Custodial savings accounts are also available, which typically help families set aside money for additional expenses not covered in the other plans such as sorority dues or music lessons.

3. Monitor Your Financial Progress Together. Once a savings plan is established, monitor your progress along the way to ensure your strategy is helping you meet your financial goals. Keeping score along the way is an important responsibility that can be shared by both parents and teens. This includes checking the earnings statements to see how the investments are performing and make adjustments or consult with an adviser about maximizing gains.

529 Plan Overview:

There are two types of 529 plans: prepaid and savings. Prepaid plans allow one to purchase tuition credits, at today’s rates, to be used in the future. Therefore, performance is based upon tuition inflation. Savings plans are different in that all growth is based upon market performance of the underlying investments, which typically consist of mutual funds. Most 529 savings plans offer a variety of age-based asset allocation options where the underlying investments become more conservative as the beneficiary gets closer to college age.

Prepaid plans may be administered by states or higher education institutions. Savings plans may only be administered by states. Although states administer savings plans, record-keeping and administrative services for many savings plans are usually delegated to a mutual fund company or other financial services company.

1. Location, location, location. We’ve said it before and we’ll say it again. Invest in the best location you can afford. It will determine the kind of tenants you will attract, and how much rent you can charge. A property in a desirable location will also appreciate more over time and be less susceptible to the ups and downs of the real estate market.

2. Don’t go overboard when you’re fixing up an investment property. You don’t necessarily need granite countertops and stainless appliances. After all, you’re going to get some reasonable wear and tear when the tenants move out. Most renters are happy with units that are light, bright and clean.

3. Forget about flipping. Real estate today is a buy-and-hold investment—for at least five to ten years. You’ll face considerably more risk with a shorter time frame. Although your rental will almost certainly appreciate over the next 20 years, the next few years are anyone’s guess.

4. Think long term. For most small investors, long-term ownership makes the most sense. You’ll have plenty of time to ride out any swings in the market, and your rental income will be a nice supplement to your day job. Historically, real estate has been an excellent investment, always appreciating a few points over the rate of inflation.

5. Be prepared to have cash on hand. These days, buying a non-owner occupied property requires at least 25-30% down.

6. Calculate the cost of ownership. This includes all the expenses of owning and managing an investment property, not just mortgage payments. Common expenses include property taxes, insurance, utilities, maintenance, vacancies, and repairs.

7. Look for a property for what it can be, not what it is. Buyers with a little imagination can look past the cracked paint and overgrown landscaping and score a great deal.

8. Hire and pay skilled workers to do your renovations. Start collecting recommendations for electricians, plumbers, painters, and contractors.

9. Always screen your tenants. Run a credit check and call old landlords. Ask if they paid the rent on time, what condition the property was when they left, and if they caused any problems with the neighbors.

10. Read up on your rights as a landlord. Learn about the eviction process and other potential issues so you can do things right, saving time and money.

11. Carefully consider all options. In general, buildings with 3-4 units or duplexes pencil out best, followed by single family homes with 3 bedrooms. Some investors find it works out best to buy a duplex and move into one of the units.

12. Enjoy the advantages of your investment property. When managed correctly, investment properties are a great source of passive income—now, and when you retire. Take advantage of amazing tax benefits to make your investment pay off.

1. What Kind of Coverage Do You Need?: Before calling the insurance company and getting your insurance quote, take the time to decide what kind of coverage you need. In every state you have to have at least liability coverage (damage to others personal property or bodily injury caused by you). But, you need to decide if you would like to add these additional car insurance coverages:

Comprehensive: Other than collison damage
Collision: Damage caused to your vehicle in the event of an accident.

If you choose comprehensive and collision coverages, you will need to decide what deductible amounts you would like. And, it is important to know what policy limits your state requires so you can decide what policy limits you would like. Other coverages you may also be interested in:

Emergency Roadside Service: Roadside assistance (towing, locksmith, run out of gas, flat tire, etc.)
Gap Insurance: The fiscal gap between the actual cash value of your vehicle and your debt to the lien holder.

2. Choosing an Insurance Company: When you are ready to select your insurance provider, besides just looking for the best car insurance premium, you will want to take some time to research what insurance company you want to go with by learning about their financial strength. Another important aspect of choosing your insurance provider is knowing if and how they will use your credit score to determine your rate. Take the time to research different companies and then make a list of the providers you are interested in contacting for an insurance quote.

3. Making the Call: When you have your list of selected car insurance providers you are ready to start calling around to search for the one who can give you the best deal. It is important to have certain paperwork handy, such as your drivers license number. In addition, having a list of discounts you may be entitled to can save you some extra money.

4. Understanding Your Car Insurance Policy: Now that you have your car insurance policy, do you understand what it means? Did you get what you paid for? It is important to know how your car insurance policy works and how it can work for you.

5. Filing a Car Insurance Claim: Let’s hope you never have to file a car insurance claim, but if you do it is important to learn some things before the accident comes. Learning what things you need to do when you have an auto accident can help the claims process go much smoother. Here are some claim filing tools you will want to learn before you file a car

• Combine Auto and Home or Renter’s Policies: Most insurance companies give a discount if you carry your auto and home or renter’s policy with the same company. This discount can be anywhere from 5%-20%! 

• Watch Your Credit Rating: Another great tip to get cheap car insurance – keep your credit clean! Yes, a lot of insurance companies are checking your credit and basing your policy on what is found. Make sure you check to see if your credit is in good shape, and if it is not, you may want to seek out companies who do not do credit checks. 

• Train Teenage Drivers: Drivers Education can not only give a reasonable discount on your car insurance, as well as good grades. You can report them to your car insurance company every semester. 

• Forgo Extra Rental Car Coverage: If you have comprehensive and collision coverage on your current vehicle, you might not need rental coverage. You are covered as much on a rental car as you would be on your vehicle. So, if you have a fairly new car you should be OK, but if your car is only worth a few thousand, you should get additional coverage. 

• High Risk? Get Help: Whether you are in the process of obtaining an online insurance quote or using a local agent, if you are in a high risk category and when you try to get insurance you either get turned down or cannot afford the ridiculous high premiums, you may want to contact your state insurance commissioner. All states have insurance for high risk individuals who may not be able to obtain insurance elsewhere. The coverage may not be the greatest, but at least it will get you rolling again.