In 2007, a fire started by downed power lines and driven by 60-80 miles-per-hour winds, swept through Malibu. The Sheriffs’ Department came to our home at 4:30 AM and told us we had 15 minutes to evacuate.

After the fire, I spoke to my neighbor, whose home was completely destroyed. I asked her how she was doing, and her reply was that she and her husband were busy going through their credit card charges for the last five years trying to identify things they had purchased, and the cost. Can you imagine having to do that?

The first thing you must do is make sure you have adequate insurance coverage. Could you rebuild your home, or buy one of equal quality with your insurance proceeds? Is your home insured for cost, or replacement value? If it is insured for replacement value, does it have a built-in inflation or cost of living adjustment? You owe it to yourself to know the answers to these questions.

Equally important is the insurance on the contents of your home. Chances are that you are under-insured. Take a look at your policy and see what the dollar coverage is. Think about it. Walk through your house and add up the replacement cost of the bigger items, your furniture, television set(s), clothing, and jewelry. You can ask your insurance agent to send someone out to help you determine the adequate amount of coverage. Yes, it may result in a higher premium. No one wants to spend money unnecessarily, but a couple of hundred dollars extra per year in the premium may be money well spent.

Second, you need evidence of what you have inside your house. There are companies who will come to your home and make a videotape of all your belongings. An alternative idea is to take pictures of your most valuable items, but why not have a documented record of everything you own on videotape? If your home burned down, how long would it take just to make a list of its contents? A videotape will insure that you don’t miss anything and that there will be no disputes as to whether you actually had all the items you claim. Your insurance agent can recommend local companies who can do the videotaping.

Third, if you have any receipts or appraisals for your more expensive possessions, set them aside. You may want to make a list of the cost of your more valuable items if you don’t have receipts or appraisals. Your videotape and documentation should be kept in a safe deposit box. It won’t do you any good if it gets burned up with the house.

While on the subject of insurance, you might find out if it covers loss of landscaping. It either does, or it doesn’t. I lost 20 mature trees in the fire. I was amazed, and pleased, to find out that my homeowner’s insurance provided coverage for the lesser of either the actual value lost, or $2,500, per shrub.

Finally, if your house should burn down, there are professional consultants/engineers who will help you negotiate replacement value with your insurance company. If you suffer such a loss, these people will probably find you. In case they don’t, you should know they exist and consider hiring one to assist you. They do it for a living, you would be doing it for the first time.

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Life insurance protects your family in case of your death, providing a death benefit that can pay off the house, cover college tuition, pay medical and funeral costs, and help the family stay solvent. Because life insurance is so important, you want to make sure you get the best quote from a top rated life insurance company.

Get the Best Quote

To get the best quote on your life insurance, follow these tips:

* Decide what kind of life insurance you want. The two main types of life insurance are term and whole life. Term is less expensive because it’s life coverage only – when the insured dies the beneficiary receives the face amount of the policy. Whole life insurance combines life insurance with an investment component. Part of your premium pays for the insurance, while the rest is invested.

* Buy insurance when you’re young and in good health, especially if you want term life insurance. As you get older your premium increases.

* Don’t use tobacco. If you do use tobacco, quit.

* If the insurance company requires a medical exam, schedule it for morning. Your blood pressure, cholesterol, and stress levels will be better then.

* If possible, apply for your insurance toward the end of a quarter or year, when insurance companies are trying to reach sales quotas.

* Comparison shop. Rates for the same life insurance coverage can vary greatly, so check several companies. The best way to comparison shop is to visit an insurance comparison website where you can get quotes from multiple companies. On the best of these sites, you can chat with insurance professionals online who will answer your questions (see link below).

Choose a top-rated company

Once you have rate quotes from several companies, you want to research the companies so you can choose a top-rated company. The Internet is a great source for investigating the ratings of insurance companies. Two of the better sites to check a company’s rating are:

A.M. Best (ambest.com)

A.M. Best rates insurance companies based on their ability to pay claims, their credit rating, and their ability to pay it’s debtors and stockholders.

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Your State’s Department of Insurance

All States have a Department of Insurance website and most list complaints filed against insurance companies. If your state doesn’t list complaints, you can go to the California Department of Insurance website – www.insurance.ca.gov – to get this information.

Visit http://www.LowerRateQuotes.com/life-insurance.html or click on the following link to get the best quotes from top rated life insurance companies and see how much you can save. You can get insurance tips in their Articles section.