Archive for August, 2011

Slowing the gas price roller coaster

Slowing the gas price roller coaster

(ARA) – Gas prices are on a roller coaster ride again. A bargain these days is anything under $4 a gallon, which is especially difficult since it’s summer and everyone’s hitting the road for vacations. Inching closer is fall’s “back-to-school” drive cycle. In short, there is a lot of driving ahead and higher gas prices are now the norm, so it’s time to look at ways to alleviate the pain at the pumps.

A good place to start is eye-level with your feet – your car’s tires. You may look at tires as black, round utilitarian objects, but truth be told, these technical wonders – when properly maintained – are gas saviors that can slice hundreds of dollars off your annual gasoline bill, according to Dan King, Yokohama Tire Corporation’s senior vice president of sales and marketing.

“The first thing is to always make sure your tires are properly inflated,” says King. “Tires that are underinflated by eight pounds per square inch (psi), for example, can reduce vehicle fuel economy by as much as 2 percent and tire tread life can also be reduced by as much as 25 percent.”

King says for the best driving savings and safety results, make checking the tire pressure a monthly routine. “It only takes five minutes,” he says. “If you’re not doing it once a month, chances are you’re driving on under-inflated tires.”

Use the tire inflation numbers usually labeled inside the driver’s door, fuel door, glove box or in the owner’s manual. (The number on the tire’s sidewall is the maximum inflation pressure.) Over-inflation reduces the tire’s contact patch with the road, while under-inflation puts extra weight on its sidewalls and causes an unsafe increase in tire temperature.

Certain types of tires – ones with low rolling resistance (LRR) – can help save fuel, too. “LRR tires are designed to minimize the energy wasted as heat while the tire rolls down the road,” King says. “That results in improved fuel efficiency. Studies show driving on LRR tires alone can save about $100 annually.”

Yokohama’s AVID ENVigor tire is a good example of the expanding LRR tire technology. “It’s an excellent low rolling resistant tire that saves fuel and combines performance, comfort and long treadlife,” King says.

King also offers other fuel-saving tips:

* Keep your tires properly inflated. Once a month, when the tires are cold (at least three to four hours after the vehicle has been driven), check tire pressure with a reliable tire gauge. Be sure that the valve stems have a plastic or metal cap to keep dirt out and seal against leakage.

* Replace your air filter. A clogged air filter blocks the air needed to burn fuel efficiently and wastes gas.

* Keep your car tuned-up according to the manufacturer’s recommended schedule to keep all systems in good working order, which can optimize your mileage.

* To prevent skidding and hydroplaning, tires must be replaced when the tread is worn down to 1/16 of an inch. An easy test: place a penny into a tread groove. If part of Lincoln’s head is covered by the tread, you’re driving with the proper amount of tread. If you can see all of his head, you should buy a new tire.

* Built-in treadwear indicators, or “wear bars,” which look like narrow strips of smooth rubber across the tread will appear on the tire when the tread is worn down to 1/16 of an inch. When you see these wear bars, the tire is worn out and should be replaced.

* Visually check your tires for signs of uneven wear. You may have irregular tread wear if there are high and low areas or unusually smooth areas. Consult your tire dealer as soon as possible.

* Tires should be rotated at least every 6,000 to 8,000 miles and the alignment should be checked once a year. Misaligned tires can cause the car to scrub, which lowers mileage and causes unnecessary tire wear.

* Slow down. For every five mph you go above 60 mph, you’re using more gas, and, ultimately, paying even more for each gallon of gas.

For additional tire care and safety tips, visit www.yokohamatire.com or www.rma.org.

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Renovating your home? Renovate your insurance

(ARA) – Whether you are upgrading a kitchen, adding on a master suite, or gutting a newly purchased structure, you need to reassess your insurance needs both before and after your renovation.

It’s common to plan every major step of the renovation. But one thing that’s tough to plan for is the unexpected. What if an oily rag left unattended starts a fire and your home goes up in smoke? The remodeling work done to date may have an impact on your homeowners insurance – unless you let your insurance agent in on the plans ahead of time.

For example, Fireman’s Fund Insurance Company policyholders are required to let their agent know about any renovation projected to increase the replacement cost of your home by more than $25,000 in order for the crucial full-cost replacement coverage to remain in force.

“Your insurance company and your agent can help you find gaps in your coverage related to remodeling and establish appropriate replacement costs,” says Don Soss, vice president of personal insurance at Fireman’s Fund. “We can also make sure your contractor and subs have adequate liability insurance in case of damage to your property from poor workmanship or carelessness.”

In addition, risk managers at the insurance company can provide advice to minimize the possibility of fires, theft, and mishaps. Good risk management practices also minimize potential project delays. This may be a good time to add security and safety features such as water flow monitoring devices or upgraded burglary and fire alarm systems.

One of the most common issues is maintaining a secure environment during the work phase. For example, contractors often disable a home’s existing fire alarm system because dust and particulates generated by construction tend to trigger false alarms. It is important for temporary measures such as fencing and alternate alarms to be in place to keep the property secure.

Demolition debris should also be secured so it can’t become airborne in high winds. Toxic or explosive materials need to be stored and handled appropriately, and rebars should be capped to prevent injury to workmen and residents.  

Often, the family moves to temporary housing during a remodel. It may be a good idea to put art collections and other valuables that could be damaged in an offsite secure storage facility for optimal protection.

Even before your work is complete, your agent can go over your current homeowners insurance and make sure you have the replacement value of your home updated. This will reflect increases in construction materials and labor, changes in building codes, installation of new safety devices, changes in square footage, and custom features and appliances.

Top tips for homeowners considering a renovation:

1. Contact your agent before construction starts for coverage of your remodeling work and the value of your completed home.

2. Make sure your contractor and subcontractors have adequate liability insurance. Many contractors carry the generally recommended limits of at least twice the replacement value of the home.

3. Ask the contractor to maintain adequate safety and security devices such as fire and burglar alarms.

4. Save all records related to your project (receipts and appraisals). Store copies of these records in a secure off-site location. Videotaping your house and possessions is also recommended.

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