Regardless of how many rental units you own, you need to protect your investment with the right insurance coverage. That means covering the property in case of fire, vandalism, and other physical losses as well as protecting yourself in case of liability claims.

You work hard to build a portfolio of income-producing property, so take the time to make sure it is adequately protected with insurance, says real estate investment expert Russ Whitney. At the same time, you don’t want to over-insure, so pay attention to the details of this process.

Russ Whitney is the bestselling author of The Millionaire Real Estate Mindset (Doubleday). He says the first step in insuring your rental property is to find an independent insurance agent with experience in this type of coverage. You want an independent agent so you can shop various carriers for the best rate and coverage package. Don’t just assume that the agent who has been handling your personal insurance for years has the expertise you need; ask how much rental property experience the agent has, and if you’re not comfortable that he or she can evaluate your needs and make appropriate recommendations, find a new agent.

If you own just a few units, or occupy one unit of a multi-unit building, your homeowners insurance may provide sufficient coverage. This is done with an endorsement called additional residence rented to others, and it typically works for up to four separate residential properties.

Once you have built your rental portfolio beyond four units, you have two options for insuring the properties. You can either find an insurance company that will write separate policies for each property, or purchase a commercial policy that covers all your non-owner occupied properties.

What kind of coverage do you need?

Your insurance should pay for the cost of repairing or rebuilding the property after a covered loss, and should also allow for additional costs if local ordinances require upgraded materials. In addition, the policy should provide coverage for loss of rental income when the property cannot be occupied due to a covered loss. You should also have coverage for any furnishings and appliances you own which are located at the rental property.

Remember that your insurance will not cover contents belonging to your tenants; they need to obtain their own coverage in the form of a renter’s policy. Jeffrey Taylor, property management expert and author of The Landlord?s Kit recommends that you educate your tenants on this issue by including a form that explains the tremendous risk they take by not obtaining a relatively low cost renter?s insurance policy.

Earthquake and flood insurance are typically issued as separate policies; if you are in an area where these events may be a concern, discuss the appropriate coverage with your agent. Russ Whitney points out that as a real estate investor, you may be viewed as a deep pocket if someone is injured on your property. Be sure your policy covers physical injury and also mentions libel, slander, discrimination, unlawful and retaliatory eviction, and invasion of privacy suffered by tenants and their guests.

Managing your insurance

Many insurers offer discounts if the insured property meets certain requirements. You may be able to reduce your premium if your properties have a fire alarm system that alerts either a central reporting station or the fire department directly. Some insurers will discount the premium if the properties have smoke/fire alarms, fire extinguishers, and deadbolt locks. And if the dwelling was constructed recently (generally up to eight years), you may qualify for a new home discount.

An increasing number of insurance companies are conducting inspections on rental property before they will provide coverage. In some states, they also require a satisfactory credit rating on the insured. Much like you screen your tenants, insurance companies are screening and refusing to insure high-risk landlords. They are also routinely offering new types of coverage and targeting new and different markets.

Once you have appropriate coverage on your rental properties, don’t just automatically renew it when the policy expires. Review the coverage and be sure it is still what you need, and shop around to see if another company has a better rate.

Of course, cost is only one factor to consider when choosing an insurance company. Be sure the company is financially stable and has a solid track record for customer service and paying claims.

Jordan Taylor is the editor of Millionaire Mentor? Newsletter, which is published by Whitney Education Group, Inc.? To sign up for a free subscription, visit http://www.russwhitney.com

Since 2001, major health insurance providers have been allowing consumers to buy policies online. Through the convenience of the internet, consumers are able to compare prices and coverage to find the best insurance policy for them. Before you sign up with a health insurance provider, you should consider price, company history, and coverage to make sure you find a good plan for your situation.

Identify Your Coverage Needs

Before you start gathering quotes for health insurance policies, identify how much coverage you will need. Start by looking over your past medical expenses for the last three years. Do you need a lot of coverage or do you rarely need to see a doctor?

Next, consider your future expected medical expenses. Are you looking to cover typical office visits through the year? Or do you want to protect yourself from a medical catastrophe? Based on these answers, pick the coverage plan that will meet your needs.

Compare Costs

If you want to make sure you are getting the best deal on health insurance, compare prices. Online insurance websites make this process easy. You enter your basic information online, and then get several quotes from different health insurance companies.

Check The Coverage

Before you sign up with a health insurance provider, check the coverage that is being offered. Compare deductibles and co-pays, covered procedures, and hospital visits amongst offered policies. The more coverage provided, the higher the premiums. But this could save you more money in the long run, so in your decision also factor in how much you will use medical services.

Find A Doctor

There are two types of insurance plans ? those that allow you to see any doctor and those that require you to use approved network doctors. Be sure to check that the doctor you want to see for typical office visits is covered by your plan. Managed plans that require you to see a network doctor usually have several doctors to choose from in populated areas.

Research The Company

Once you have quotes from a couple of health insurance providers, take the time to research the company to make sure you are comfortable with them. Check to see how you can contact them if you have a problem and their financial records. You can do all this online.

To view our list of recommended companies online that provide health insurance and can help you compare quotes, visit this page: Recommended Insurance Companies Online.

Carrie Reeder is the owner of eZerk, an informational website with articles and information about various topics.

These days, young male drivers can face some of the highest car insurance premiums around. Even those with low value vehicles can be paying over ?3000 for their car insurance! With such high prices, and trends unlikely to change in the near future, young male drivers need all the help they can get when it comes to lowering their car insurance premium.

The main reason for these lofty premiums is that young male drivers are seen as very high risk customers for insurance companies. They are assumed to have a higher exposure to alcohol and illicit drugs; are more inclined to overcrowd their vehicles; more likely to drive irresponsibly, and consequently more likely to be involved in an accident.
While it is obvious that this does not truly represent all young drivers, and there are plenty of young male drivers who drive responsibly, their premiums are being raised by the growing number of young, reckless male drivers who taint the statistics.

But as well as these (possibly unfair) assumptions that the insurance companies make, there are other factors they take into consideration when calculating your risk, and therefore the price of your insurance. It is these factors that you can do something about to help lower your insurance costs.

Claims & Convictions
If you are driving for the first time, or are a very young driver, you hopefully will not have been able to build up any claims or convictions. Like any driver, try not to make any claims or get any convictions at all.
If are unlucky enough to have made a claim already then your insurance is likely to be even higher. If this is the case, try a specialist in young driver car insurance such as QuoteA who can offer discounted policies for younger drivers and high-risk cases.

Keeping Your Car Safe
The less chance there is of you needing to make a claim, the lower your premium will be. Therefore the insurance companies want you to keep your car as safe as possible.
If you can, keep your car in a locked garage as this makes it a lot more difficult for your vehicle to be stolen or vandalised. Keeping your car on a driveway can still help to lower your premium slightly, whereas leaving your vehicle on the road will not help your premium at all.
Other ways of securing your vehicle include having an immobiliser or a tracker installed. These can help to make a noticeable difference to your premium, but you must make sure your immobiliser is thatcham approved and your tracker is professionally installed.

Where you live
Although this isn’t necessarily something you can change, you should be aware of the effect it can have on your premium. When calculating your insurance, your insurance company will look at the area you live in and price your premium accordingly. They will consider the crime-rate of the area to give an idea of the chance of your car being stolen or vandalised. They will also assess the traffic-density of the area – heavier traffic flow means you’re more likely to be involved in an accident.

Pass Plus
The Pass Plus scheme may be one of the best ways for young drivers to save money when they first start driving a vehicle. It is run by the Driving Standards Agency and consists of a short course of further driving training after you have passed the standard driving test. The course covers town and country driving; dual carriageway and motorway driving; and all weather and night-time driving. Not only is it a great way to improve your skills and confidence, but because of the increased knowledge and safety you will learn, most insurance companies will discount up to 40% from your insurance premium! This is a lot of money you can save, but it is worth noting that the Pass Plus discount is only available for the first year of you driving. However, after this first year, you can still save a great deal with a No Claims Bonus.

No Claims Bonus
Drivers who do not make any claims are rewarded with cheaper insurance costs. They are seen as a much lower risk and pay a lower premium accordingly. Every year of claim free driving earns you 1 years No Claims Bonus. These bonus’s can offer huge reductions on your premium, from about 30% for 1 years NCB up to around 70% for 5 years NCB from some insurers. This means that if you get your Pass Plus certificate and do not make any claims during your first year, you can continue to make a saving in your second year because you will have earned your first years No Claims Bonus.
It is also worth noting that many young male drivers remain under their parents insurance policy to save them money. This may work out in the short term, but in the long term it is much better for young drivers to get their own policy and start building up their own No Claims Bonus. This way they will have built up a sufficient discount within just a few years.

For more information and cheap deals on car insurance for younger drivers, visit www.quotea.co.uk.

Have you ever wondered if why you are paying so much for your car insurance?

What if you could shave hundreds of dollars off your current premium? Well, depending on your driving history and insurance company, that might be possible. And now, thanks to the Internet, it’s easier than ever to compare your insurance coverage to what other companies would offer to make sure you are getting the best coverage for your money. But before you hop online and start surfing for deals, here are some tips to keep in mind to help you get the lowest rate.

Compare Multiple Companies

Competition is great, especially when you are talking about a costly purchase like car insurance. Luckily, you don’t have to worry about hiring an insurance broker or spending hours on the phone talking to each and every company to compare their rates. A quick search online will lead you to a number of top-notch insurance providers that allow you to get free quotes from multiple companies. you are never locked in to anything and can see what sort of offers several insurance companies can make, all by filling out a simple form online. And since they know you are going to be looking at multiple offers, you can be pretty sure that their quotes will be the most competitive rates they can offer.

Be Sure Your Information is Up-to-Date

There’s a good deal of personal and vehicle information that factors in to your car insurance rate. You should be sure that items such as your marital status, number of drivers covered, your age and your car’s make, model and year are accurate. The wrong information can have a huge impact on how much money stays in your pocket versus what gets sent to the insurance company. Also, be sure any additional safety features (like if you’ve added such as an alarm system) or classes (like a defensive driving course) are something your insurance company is aware of. They might not take a huge dent out of the premium, but every little bit helps.

Have an older car? Check with the insurance company and see if you still need all the coverage you are currently carrying. Items that you probably had in the past like collision coverage might not be necessary anymore. In addition, if you’ve changed your driving habits for this car in recent years (perhaps you retired or changed jobs) then this should be updated as well since it could impact the amount of your premium.

Consider Changing Your Deductible

Say you got your car awhile back and recently got promoted. Back then, you might have wanted to have a $250 or $500 deductible since you were making less money. However, if you are more financially capable now, you might want to see what impact increasing your deductible would have on your insurance payments. This is especially true if you are a safe driver. However, keep in mind that this will be the amount you’ll have to come out of pocket with if you ever do get into an accident so when you increase your deductible, keep the amount reasonable.

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