Only One Website is Authorized To Give You a Truly FREE Report.

             Skip all of the marketing hype. The advertisements tell you how important it is for you to check your credit report and for that part, they are right. However, you don’t have to pay for it! 

           All those websites and commercials urging you to “log on and get your free credit report” with promises of a “free credit score” are scams with strings attached. They want you so sign up for services like credit monitoring and then charge you a monthly fee.

While you may have a need for monthly credit monitoring, I don’t think that you should be tricked into signing up for it! 

            Only one secure website is authorized under law to fill orders for your truly free credit report.  The world of commerce, banking and insurance use data in your credit file to make decisions that affect the price you pay for credit, loans and in some states insurance. So it is a good idea to stay on top of what others are reporting about you.

 You are entitled to receive a free report one time each year from each of the three nationwide consumer credit reporting agencies from this “Central Source.”

An “Insider Tip” is to order your credit report from one agency now, from another agency in four months and from the third four months after that. Then start the cycle over for the next year. That way you can keep an eye on your credit all year long for free!

            Log on to www.annualcreditreport.com to see what’s in your credit file from each of the three consumer reporting companies—Equifax, Experian and TransUnion.

While you are there, be sure and check out their FAQs, (Frequently Asked Questions) and see the Federal Trade Commission (FTC) cautions to consumers about companies that claim they can repair your credit or improve your credit report for a fee.

Don’t want to go online?  You can call 1-877-322-8228 or write to:          

Annual Credit Report Request Service
PO Box 105283
Atlanta, GA 30348-5283

However, if you call or write, it isn’t instant like the online report is. It will take a while for you to get it, since they will mail it to you within 15 days.

            As for your “credit score,” you can purchase it when you request your free annual credit report or by contacting one of the nationwide consumer credit reporting agencies:

Equifax – www.equifax.com

Experian – www.experian.com

TransUnion – www.transunion.com

Everyone else seems to be looking at what’s in your credit report.  You might as well take a look too!

   There are different ways to insure your home, both the structure and your personal property.  There are two types of coverage: replacement cost and actual cash value. Replacement cost is better for you, the homeowner.

   Let’s take the structure first. Under replacement cost coverage, the insurance will cover the cost of replacing the part of the structure that is damaged, up to a maximum dollar amount. Under actual cash value, the insurance will cover the cost of replacing the damaged structure minus an allowance for depreciation. If you have an older home, that allowance could be quite significant. Unless your policy specifically says it provides replacement cost coverage, the coverage is for actual cash value. So how much insurance should you have? Basically, unless you want to pay some of the costs yourself, you should insure your home for what it would cost to rebuild it if your residence were destroyed. How do you find this out? Your insurance agent can have an answer for you in no time, or look on an appraisal, page 3, for a rebuild cost break down. Do not look soley at county appraisals, or market values as they both do not measure the cost to rebuild a structure.

 Your possessions are also insured on a replacement cost or actual cash value basis. Again, unless specified otherwise, the coverage in your policy is actual cash value. Homeowners policies also have limits on coverage for such items as jewelry, fine art and computer equipment. Read your policy and see what these limits are. For example, the standard policy will provide a maximum of $2,000 coverage for your jewelry if it is stolen. If you have lots of jewelry, fine art or computer equipment, you should consider purchasing a special personal property endorsement or “floater” that provides the coverage you need.

There is no right answer but there are many things to consider when choosing an auto insurance deductible.  The auto insurance deductible has two categories Comprehensive (sometimes referred to as “other than collision”), and Collision. Both deductibles are a per occurrence, and not an annual deductible, and they typically vary from 50 dollars to 1250 dollars. The deductible functions

Comprehensive:

Comprehensive coverage examples:

-Weather losses

-Hitting a live animal

-Flying projectile

-Theft

-Vandalism

-Flood

-Fire

-”other than collision”

Strategies:

1)      Less premium is tied up in this deductible so carrying a low deductible doesn’t cause much of an increase in premium.

2)      Comprehensive deductibles can happen to all your cars at once. For example a hail storm, could damage all your cars and each car would be subject to its own deductible. For this reason it’s good to consider; could you afford your deductible times the number of cars you have?

3)      Carrying a lower deductible is easier to sallow when the loss is out of your control. Example: vandalism.

Collision:

Coverage Examples:

-Hitting an object or another vehicle.

Strategies:

1)      More costly coverage, so changing deductible can net savings.

2)      Increasing  the collision deductible is a great way to pay for increased liability. Example: an extra 250 out of pocket on a deductible is manageable, however carrying 100K and having a 250K claim is not. But they cost the same on the insurance policy.

3)      Carrying a higher deductible when paired with a ROTH IRA, is a great way to put away savings and if a claim occurs pull the money out to cover the deductible, penalty free, or more likely not have an accident and turn the lower insurance cost into savings.