Insurance

How Small Businesses are Coping with the COVID-19 Crisis

COVID19 has caused havoc in every single economic sector, globe-wise. Amongst all economic subjects, small businesses have suffered the greatest amounts of damage. Many had to close their doors forever, while others suffered through serious downsizings and large deficits.

So, how can a small business survive the COVID19 crisis, or even break out of it thriving?

Here we’ll talk about inventive ideas and measures you can take to strengthen your small company and avoid those worst-case scenarios during these difficult times.

1. Applying to relevant programs

Small businesses are the backbone of every economy, no matter how big or small. Every government in the world knows this, so there are a plethora of relief programs you can apply to, just make sure you fit the eligibility criteria. Of course, keep in mind that these can take some time to be executed, so it can’t be the only thing you’re relying on.

We suggest you contact your company lawyer to help you find the right program to ensure efficiency and speed. The forms need to be filled out perfectly or otherwise you might be forced to reapply, which can be quite a setback on your road to recovery.

2. Digitalization

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While going through a full-blown digital transformation at your workplace isn’t the cheapest solution to hold on to, you can still digitalize some aspects of your company to help it survive the global financial crisis.

The first thing you can (and should do) is enabling remote work where it’s possible to do so. It’s the perfect time to start focusing on your digital campaigns and investing in software solutions that can help you hold your team together through these unpredictable times.

Again, we know that financial situations in most small companies aren’t exactly stable right now, so we suggest implementing open-source digital software to help you manage your team in a remote setting.

3. Check your insurance

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Make sure to check with your insurance company to see whether there’s any loss that can be covered by their policy. Talk to your accountants and create a sufficient financial plan to keep you going while the crisis is still affecting you.

There’s a small chance your insurance covers instances such as a pandemic, so ensure you’re not missing on any potential coverage. Again, your accountants and your legal team should be able to help you see it through, so don’t forget to brainstorm some ideas together.

If your insurance simply doesn’t cover pandemic losses, you can probably still find something in your policy agreement that can help you salvage your business. Talk to the insurance company until you’ve assessed all possibilities, or else you’ll be missing out on a potential boost to help you keep your business up and running.

4. Reduce monthly costs on non-essential subscriptions and services

Source:ec.europa.eu

As noted at thebizzing.com, one of the best ways to cut costs and save some money during the financial crisis is by canceling various monthly services that you can do without (at least for the time period).

Contact your accountant and go over your monthly expenses together. You might be surprised at the number of services you’re paying for that you rarely even use. Cancel everything that is not essential to your daily business processes, and use that money to get your company out of the tight spot it found itself in.

Cost reduction should be accompanied by profit maximization strategies, but if that’s impossible in the current state of things, just focus on the most essential aspects of running your business.

5. Negotiate wherever you can

Your supply chain can be transformed to acquire maximum efficiency and cut unnecessary costs. You’re not the only one who experiences this crisis, your suppliers can feel it too. So, make sure to go over your usual deals and try to negotiate better terms. All usual economic activity is slowed down, so you have the right to a lower price, in most cases.

When it comes to your own employees, the primary goal should be to save their jobs as well as your company. They’re probably already aware of the situation, and they might be willing to negotiate somewhat lower salaries until the crisis calms down. Naturally, you should provide them with safe work conditions and smaller workloads in return, as the pandemic has been rough on everyone.

6. Enhance your marketing strategy

Source:simplilearn.com

As we’ve mentioned before, now is the perfect time to focus on your digital marketing campaign and try to reach your customers through engaging content online. It’s a cheap way to keep people interested in your products and services, so it should be done even when this entire mess is completely behind us.

Promote yourself and keep your customers and clients interested by offering lower deals. It might seem contra intuitive to lower your prices while you’re suffering through a financial crisis, but it’s the only way you can survive through these difficulties we’re all dealing with.

7. Communication is key

Source:moderndealership.com

Be honest with your employees: you might be forced to cut their salaries down or even fire a couple of them during this crisis. Brainstorm ideas together, as nobody can afford to lose their income while the economic climate is this unstable and unpredictable. Your employees might have some ideas to help you keep your business running: it’s in everyone’s interest. Besides, nobody knows your company better than the people who’ve worked there for years.

Open and honest communication is essential, so don’t try sugarcoating things. Remember: better times are ahead of us, so we all have to be patient and try our hardest until we can breathe freely again.

The bottom line

COVID-19 has affected millions of small businesses all around the world in an incredibly short time span. Even now, when the vaccination processes are slowly taking effect, the economic crisis still lingers. However, small business owners should keep their positivity: there are ways you can salvage your hard work and keep your business up and running during and after the crisis the world is currently going through. Be creative, brainstorm ideas, seek help, and implement digital solutions to help you survive. Your persistence and patience will undoubtedly pay off, so keep it going!

Common car leasing mistakes that you should never make

Leasing a car might sound less of a commitment than buying a car, except it is not. Leasing a car requires no less amount of preparation and strategic planning, and just like buying a car plenty can go wrong if not done correctly. Leasing has become a very popular option nowadays. CarIndigo helps the people in selecting the car for leasing pupose. People are choosing to do that not only for cars like the Chevy Tahoe, and the Chevy Trailblazer but even you luxury sedans like the Audis and the M cars by BMWs by the middle class and upper-middle-class alike.

Some of these tips may not be very known ones, but there are some key points before you even go through these tips. If you are not leasing the newest and greatest, make sure that you are at least never more than a few model years away from there. This way you will also be under full warranty, which is exponentially essential as you will not have to worry about big repairs; not to mention the maintenance cars will also be low.

After you have these covered, you are set up for more real savings which comprise lower upfront costs and similarly lower monthly costs over time. As mentioned before, these rules are the same for cars, trucks, and SUVs like the 2021 Chevrolet Tahoe, and the 2021 Chevrolet Trailblazer. Let’s get to the rest of these tips.

Source:thestreet.com

Negotiate the price

This is a mistake which unfortunately is far too common; people forget to negotiate the price of the vehicle when they are leasing. Instead of focusing on the capitalized costs, they focus on reducing monthly payments or lease terms, and unfortunately, they miss out on thousands of dollars of savings. Sure, there are some leases that are subsidized by the manufacturers so they have specific terms. But other than these, most leases you come across are fairly negotiable.

You should do your research to determine a fair price for the car so that you can use that as a platform for negotiating. At the end of a lease term, research the predetermined value of your leased vehicle. This is known as residual value and it will go a long way in protecting you at the end of the lease apart from lowering your monthly costs.

Understand the number of miles driven

Different leases have a different mileage cap, most of them have a cap at 12,000 miles yearly, which to be honest can be ticked off pretty quickly. Some leases have a higher cap, at 15,000 miles, and that also means they will have higher monthly costs. If you are not so much of a numbers guy and these calculations are puzzling you, for clarity’s sake you should just keep in mind that paying for the miles upfront will be comparatively cheaper than what you pay when you turn the car in.

It can be hard to believe but most dealers will actually pay you back for the unused miles when you pay for them upfront. Considering that you cannot buy extra miles after your lease begins so it is time to be realistic before you sign them, not after.

Gap insurance is important

Source:moneycrashers.com

It is an open secret among the minds that the minute you are driving the car off the lot, it has already depreciated, does not matter if you are buying or leasing it. As a matter of fact, most of the car’s depreciation happens within the first two months of the car ownership period. And then there are factors which can screw up your car, for e.g. if a tree falls on it, and it is time for some expenses.

In that situation, the insurance company might have a different worth for your car and you have to pay the remaining amount out of your pocket. This is where gap insurance comes to the rescue, it can pay for that difference in case you have to replace your car.

Maintain your leased car

Source:thestar.com

It might be very tempting to not look after your leased car as you plan to walk away from it after a few years so you neglect minor bumps, dents, scratches, and overall maintenance. That actually can be a bigger mistake than you might think. At the end of your lease period, these negligences will be picked up in the post-lease inspection which happens quite usually and lessors may count that under excessive wear and tear to extract more money at the lease-end.

It is therefore strongly advised to take care of even the littlest of scratches in order to save yourself from the excess of charges when you turn your car in.

Longer car leases

Source:investopedia.com

The reason why people opt for leasing a car is that they have the option of turning the car in before they run into problems which can be faced due to normal usage like wear and tear with age, balding tires, failing brakes, and various other issues. This is why you will see most leases are in the two-to-three-year range since most of these cars have a bumper-to-bumper warranty for 3 years.

If you opt for leasing a car more than that period, however, like a 4-5 year period, you might have to solve those car problems without actually owning the car, which is an unnecessary headache. You can get an extended warranty but it does not make sense to pay extra for that. Keep your leases short and if you want to lease it for around 5 years then you might as well buy the car.

Bargain for your trade-in

Finally, if you’re moving from a car you own to a lease, you can trade-in your previous car. Just like when you buy a new car, it is important to bargain hard for your trade-in so that you can maximize your savings. Research well about the value of your so that you save some significant amount of money for your trade-in. As a pro tip, it is always better to negotiate a deal first and then bring in the offer of a trade-in and see the terms change immensely.

Desperate Measures: Staged Car Accidents and How to Avoid Them

As the economy tries to recover, it’s likely that there will be a spike in criminal activity. After all, these are desperate times. Staged car accidents and pedestrian accidents are only some of the many scams that you could fall victim to, but what makes them particularly devious is that it’s difficult to tell them from actual car accidents.

There are more than six million car crashes in the U.S. every year, and this makes it difficult to weed out staged car accidents on a larger scale. It is, however, completely possible to protect yourself from these scams, but we first need to understand what staged car accidents are.

What Is a Staged Car Accident?

Source:zimmermanfrachtman.com

A staged car accident is a fraud scheme wherein criminals intentionally cause a car accident in order to blame you for being negligent and fraudulently receive compensation. A typical example of a staged car accident is when one or more motorists cause an accident that appears to be the victim’s fault. There are three general types of staged car accidents:

  • The False Yield – In a false yield, another driver may motion for you to merge or to take a turn, only to speed up and veer into your direction at the last moment in order to cause a collision. The driver will then deny ever having motioned for you to merge or turn.

 

  • Staged Read-End Accidents – This is similar to brake checking, except that the criminals intend to cause a rear-end accident. This is one of the more common staged car accidents because the driver in the tailing car is almost always held liable for the accident. The criminal may also have the passengers as accomplices to watch you for any signs of distraction, at which point, the criminal slams on their brakes.

 

  • Sideswipes – Sideswipes occur at busy intersections wherein criminals will intentionally sideswipe your vehicle even when you’ve barely even entered his turn lane. Sometimes, criminals will even cross into your lane in order to sideswipe you and allege that it was you, instead, that crossed the lane.
Source:dolmanlaw.com

After an accident, criminals will almost always claim to have sustained injuries, property damage, and may even present fake witnesses as a means to increase the compensation they are owed. Fortunately, there are many ways to protect yourself from this type of fraud. Most of these things are the standard things that you should do after a car accident except that there are special details that you need to pay attention to. Here’s how you can protect yourself:

Document Everything

After a car accident, it’s important to call the police immediately. If you’re able to, make sure that you take photos and videos of the accident. Take note of the names and their corresponding contact information of everyone involved, especially eyewitnesses. When the police arrive, it’s very important that you report any suspicious activity to them.

It’s also during these times that dashcam footage is extremely valuable, as this is strong evidence that can help reveal what really happened in the events leading up to the accident. If you think that you’ve been a victim of a staged car accident, make sure to tell the police as well.

Even if it’s mere speculation at this point, it’s important to express your suspicions so that it gets included on the police report. The importance of this is so that this matter will later be raised during court proceedings.

Be Vigilant for Signs of a Staged Car Accident

Since car accidents happen so often, it’s very difficult to determine if an accident was authentic or if it was orchestrated by criminals. A good way to determine this is by looking out for some details of your accident.

Some things you need to be on the look out for are people who show up suddenly right after the accident who would recommend that you engage the services of a particular towing company, mechanic, or even doctor. It’s highly likely that this person, as well as the people being recommended are accomplices to the scheme.

Additionally, look out for fake witnesses who will try to contradict your recollection of the accident. These are also details that you need to share with police officers when they arrive.

Undergo a Medical Examination

A medical examination is the best piece of documentation to use if you need to secure compensation for your injuries. This is also the best way to detect any underlying injuries that might threaten your life or well-being later on. In almost every case, early detection is the key to treating many dangerous conditions and injuries.

Get In Touch With Your Insurance Company

If you suspect that you’ve been a victim of a staged car accident, you need to contact your insurance company and inform them. This information will help them determine the best way to address the situation. While this will put them on their guard, it’s far better to be safe than sorry. This will not only help keep you safe, but it will also help protect other policyholders from the same scam.

Hire a Lawyer

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Finally, it’s important to hire a lawyer to help you with your claim. Not only are lawyers trained and knowledgeable, but they also have tools and connections that they can leverage to help serve your case. Economic damage experts like the ones from The Knowles Group are particularly helpful during car accident lawsuits.

Insurance fraud is a crime and it can lead to jail time. However, this only occurs if the insurer decides to turn the criminals over to law enforcement. If you’ve been a victim of a staged car accident, it’s important that you pursue legal action against the perpetrators. The last thing we need during these difficult times are people who take advantage of others. Stay vigilant and stay informed, but most importantly, stay safe.

What Is a Title Commitment & Why Is Important To Your Closing

Yes, buying the first property is an exciting period in everyone’s life. However, at the same time, it can be nerve-racking simply because there is too much paperwork a person has to go over, and most importantly, they have to understand every single paragraph they read.

Well, a title commitment is one of the most important documents that you will have to go over. It is crucial that you fully understand each section, which is why we will discuss them in this article in great detail.

What is title commitment?

Source:houseloanblog.net

A title commitment is a document that states that the property will have a title insurance policy upon closing the deal. According to another definition, it guarantees your title rights as a new owner, but this can greatly differ between the states. This document contains all the information that will be listed in the title insurance policy, but it isn’t ratified, meaning that it is not legally binding. This is the main difference, so make sure not to mistake one for another.

Is it required by law?

No, you are not required by law to have this document, but this still doesn’t mean that you should ignore it. First of all, when applying for a loan and going through the entire process of getting it, the lender will probably require you to provide them with this document before signing the final paperwork.

Furthermore, this document lists everything that is not covered by the title insurance policy. It is crucial to be familiar with this if you want to close the deal successfully. Plus, this list will enable you to be fully aware of the conditions, so you will have the opportunity to rethink whether you should make the purchase or not.

What does it include?

A title commitment is divided into multiple sections. The content of these can vary between the states, but the main information is the same.

Schedule A

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This section includes some basic data such as personal data of the buyer, the type of insurance policy that will be issued (Owner’s and/or Lender’s Title Policy), the description of the property, seller’s personal info, the price, and so on.

It is crucial that the representatives of both the buyer and seller closely inspect this section. For example, other people may be listed on the owner list, and if they didn’t sign the document, it is not legally binding. You would be surprised to learn how often this occurs in case of a divorce or death. If any of the data doesn’t match the information in the contract, everything has to be investigated one more time to resolve the issues.

Schedule B

This is the part of the document that you must focus on because it includes exceptions and requirements.

Firstly, here you will find a list of exceptions, that is, the list of things that are not covered by the title insurance policy. Most of these are standard exceptions, but there may be some that are specific to that property. It is vital that you as a buyer fully understand every single point. If you don’t agree with some, a title company may be able to remove them, insure over them, or discard them. Nevertheless, there are many factors that can affect the outcome, which is why you have to consult with professionals such as sunnysidetitle.com. Contact them and ask them to explain a certain point if you do not understand it. This is something that you have to do to prevent any potential issues in the future.

Furthermore, when it comes to the other part, here you will find all the requirements that must be met in order to get the title insurance. This list may include things such as recording the new deed and loan documents, the release of liens, tax payments, proof of identity, and so on. Once again, if you notice anything that shouldn’t be there or something you weren’t aware of, you have to notify your escrow so that they could investigate it.

Things to consider

Now that we have explained the sections of the title settlement, here are some things you have to consider before signing the document.

First things first, you have to know what is included in this document, that is, you have to know what you are looking for. We have already mentioned this, but here it is again. Look for personal info of both parties, then the details regarding the amount of insurance, and the details regarding the property that is being insured. Most importantly, look for the list of requirements that have to be met in order to get the insurance, as well as the list of things that are not covered by it. All of this information is listed in the above-discussed two sections. Naturally, Section B deserves all your attention since you have to be certain that you are purchasing the right property. When it comes to Section A, professionals will go over it and correct any mistakes. However, this doesn’t mean that you shouldn’t do the same inspection.

Why does it matter?

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We assume that the answer to this question is pretty obvious by now. We understand that you may feel overwhelmed by the paperwork you have to go over and sign, but, as already stated, this document is, without a doubt, one of the most important that will cross your desk.

Buying a property is always a large investment, which is why it is crucial to be familiar with every single point in this document. It is the only way to rest assured you are making the right choice. You have to learn about the exceptions, that is, the things that are not covered by the insurance. If you don’t agree with it, consult your representative and see if they can be changed or discarded. If this is not the option, you should ask yourself whether you should proceed with the investment. The same thing goes for requirements and conditions that may be listed if you are buying a property in a subdivision.

What is a Debt Trap and how to Prevent it?

You will fall into debt if you do not pay your bills on time and you are charged additional reminder fees and default interest. The longer you postpone billing payments, the deeper you fall into debt. The most common reasons for over-indebtedness include:

  • 26% unemployment
  • 9% illness
  • 9% divorce
  • 11% consumer purchases
  • 9% failed self-employment

Debt trap with loans, credit card, car leasing

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Often people get caught in a spiral of debt due to unfavorable loans or credit card conditions. Many borrowers do not read the terms or do not take the time to understand them. In the event of an unexpected financial breakdown, it ultimately turns out that the loan agreement is not as flexible as expected. For this reason, it is always important to agree on the best loan agreement terms possible. If you fail to consider these two points when choosing a loan, sooner or later you will regret it.

Consider cheaper options

If you pay too much for your loan, it is recommender to refinance. When choosing the right credit card, consider the type of credit card, interest rates, and fees. You can also fall into a debt trap with car financing. Above all, you should make sure that you do not choose long terms for the car loan. Terms of several years result in high interest payments even if you no longer use the car.

Debt trap – insurance

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We often take out an insurance policy once and then don’t touch it again. If an insured event occurs, we suddenly find out that our insurance does not cover the damage or that we have to pay a high deductible. This is not an uncommon scenario, so be well informed about the insurance conditions. Weigh up whether your insurance makes sense and under what conditions you can terminate it. If you want to optimize your expenses, insurance is definitely an area that you should look at separately. You may be able to negotiate better insurance conditions with another provider and thus lower the price.

Debt trap – house

Land tax, household expenses, and mortgages represent a significant amount of money. Gas, electricity, and water are expenses that are billed monthly or quarterly. It is important that you always have an overview of these costs. You should be aware about your consumption from energy suppliers and other costs in order to be able to plan any additional payments. This will protect you from unexpected expenses and give you time to save money for them.

Source:salliemae.com

Cell phone debt trap and entertainment

Young people in particular tend to spend too much money on cell phones and entertainment. You should definitely consider whether you actually need the latest mobile phone or the most powerful iPhone. Making calls can be just as expensive. The comparison of products and tariffs is crucial here. Check whether the expenses for entertaining the children can be reduced. Are subscriptions like Amazon Prime or Netflix really necessary?

How can the debt trap be avoided?

  • Make a budget. Even if this task involves a certain amount of effort, it will help you to keep a better overview of your income and expenses. It is important to update this budget regularly. Household book apps are particularly suitable for this. With the help of these applications, you can document your income and expenses on your mobile phone at any time. So you always have an overview of your finances.
  • Build up financial reserves. Nothing is more uncomfortable than when you have an unexpected expense and you have to overdraw your checking account. Overdraft facilities are one of the most expensive loans and should only be used at short notice in urgent cases. If you put some money aside each month and possibly even invest it, you can save the interest on your overdraft facility.
  • Increase your earnings. Take up a part-time job or increase the scope of your work with your current employer. If you do an excellent job, you can even request a raise, which will increase your earnings.
  • Pay your bills on time. You should always strive to pay all bills on time. If you do not do this, you may be charged additional reminder fees and default interest. This increases your overall costs. If you notice that you cannot pay the invoice on time, get in touch with the creditor, and extend the payment term or ask for a deferral. This is definitely a better strategy than constantly putting off the unpaid bill.
  • Never pay off your old loan by taking on new loan. Many people believe that when you replace an old liability with a new one, it improves their financial situation. Not correct. Debt rescheduling is only suitable if you can borrow the new capital on favorable terms. The total cost of rescheduling should be calculated separately.
  • Cancel subscriptions. Cancel subscriptions that you are not using. Often you get fitness or other memberships that you hardly use. Take a look at your bank statement and cancel subscriptions that do not bring you any added value.
  • Make a shopping list. Before you go to your preferred supermarket, you should always make a shopping list. The reason for this is that you are influenced by advertising in the supermarket and ultimately buy more than you intended. Spontaneous purchases can increase your bill by up to 20%. If you have a shopping list with you, you can orientate yourself on the products that you actually need.
  • Avoid expensive consumer goods. Of course, you should treat yourself to something from time to time. Regular shopping in luxury stores should be avoided if you want to optimize your budget. Buyers should endeavor not to borrow money to purchase consumer goods.

Admit debt and weigh options

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Sooner or later you will have to deal with your debts. This is important in order to evaluate the situation and to be able to take improvement measures. First of all, try to weight in payments and expenses. Talk to your credit company and ask them to postpone your payments. This can give you some time to save money without going into debt. If you have lost track of your debts, it is advisable to get in touch with the creditors to find out about your outstanding debts. Anyone who has financial problems and is in debt should seek debt advice in their area. This helps the debtors to take measures to avoid falling further into the debt trap. If you receive mail from debt collection companies, you should definitely have it checked by the debt counselor and not sign any documents. Always keep track of your finances, save money, invest your capital and plan ahead. To find out more, follow this site.

Should I Buy an Electric Vehicle?

Millions of people throughout the world now drive an electric vehicle (EV). That number is expected to rise in the coming years, as people ponder whether their technology, features, and benefits make them worth their while. Given that everyone’s needs are different, choosing a car to suit your lifestyle can require a bit of research. Could an electric vehicle be right for you? The following information may be worth factoring into your decision.

Source:technologyreview.com

Running Costs

Some EV owners have reported spending just a quarter per mile of what they would spend on a petrol-powered car. However, the cost savings can be higher or lower, depending on your electricity costs. For example, someone using solar energy to power their home and car could make even more savings than someone accessing power entirely from the grid. If your electricity company offers lower rates at certain times of the day, taking advantage of these rates may also put more money back in your wallet.

Overall Costs

Regarding running costs, electric vehicles are leading the way. As it turns out, they are also leading the way in Total Cost of Ownership (TCO). A report compiled by the International Council on Clean Transport (ICCT) compared the costs of a fully electric VW Golf to plug-in hybrid, petrol, and diesel versions in five European countries.

In the report, the costs associated with the vehicle purchase price, tax, and fuel were examined. Over four years, EVs were cheaper in all five countries included in the study – Norway, Netherlands, France, UK, and Germany. The price difference in Norway was the greatest, with EV ownership at 27% cheaper than petrol, diesel, and plug-in hybrid vehicles. The lower costs were associated with tax reductions, purchase price subsidies, and less expensive fuel costs.

EV Insurance

Source:cover.com

Insurance is something that many people factor in the decision-making process when purchasing a new vehicle. Not everyone is aware of whether their insurance even covers an electric car. When requesting car insurance quotes from various companies, it pays to make it clear that you own an EV. You can visit this site for car insurance quotes. However, there shouldn’t be too many differences between an EV policy and a petrol or diesel-powered policy.

You can still expect options like collision insurance, medical payment coverage, liability coverage, comprehensive coverage, and personal injury protection. However, what’s also worth considering is your home insurance. If you have installed a vehicle charging station, it can be worth phoning your insurance agent to advise them as you may require additional liability coverage.

Maintenance Requirements

Mechanical bills for petrol-powered vehicles can be astronomical. The complicated makeup of internal combustion engines means any number of things can go wrong at any time. However, even the coolest electric cars don’t come with substantial maintenance costs. They tend to feature electric drive trains with very few moving parts. Tires, brakes, windscreens, wiper blades, and washer fluid are often the extent of your duties. The batteries may require repairs and replacement, but they can last several years before you need to invest in a new one.

Options

When the first EVs hit the market, there weren’t too many options for everyday consumers to choose from. Now, though, you can fit almost any vehicle with an electric power-train to turn it into an EV. From buses to bikes, trucks to trains, you should have no problems choosing an EV to suit your needs.

You can even purchase hybrid EVs that operate with a combination of an internal combustion engine and an electric engine. With a hybrid, you can enjoy superior fuel efficiency while also emitting less carbon dioxide into the environment.

Fun Driving Experience

Source:mashable.com

Electric cars are high-performance vehicles, and they are becoming more advanced by the day. With those advancements comes some outstanding benefits for drivers, like an incredibly quiet driving experience. Unlike a petrol or diesel-powered vehicle, the occupants of an EV can have a conversation without having to raise their voice over the sound of the engine. Electric engines are also smooth to run, responsive, and provide incredible torque.

Surprisingly, that fun driving experience is also enhanced through preferential treatment across many towns and cities. Given that some businesses offer EV charging stations, parking is often provided to EVs at store frontages. Some cities may even allow EVs to use high-occupancy and carpool lanes, as well as free public charging stations.

Financial Incentives

It might seem strange, but governments sometimes offer tax credits and other financial incentives for people to purchase electric vehicles. Essentially, you’re getting paid to buy a new car. Federal tax credits of up to $7,500 are available for many plug-in hybrids and all-electric vehicles purchased new from 2010 onward. The credit amount is based on the battery capacity, and some models are exempt.

If you’re not eligible for a federal income tax credit, you may qualify for state or local incentives. These vary throughout the country. In California, rebates up to $5,000 on purchased or leased EVs may be available. If you live in Delaware, you may be able to receive a refund on residential and commercial charging stations of between 50% to 75%. It’s always worth asking your local EV dealer about available tax credits when you start browsing their lot.

Advanced Technology

Electric vehicles are at the cutting edge of technology, given that they are so new to the market. While you get to benefit from a fuel-less approach to travel, many other advancements are also bound to capture your attention. Keyless ignition, touchscreens, Android and Apple connectivity, and incredible battery life are just some of the many new features you can expect. The more high-performance and advanced the EV, the more exciting features you can expect to see.

Choosing a new vehicle can be challenging at the best of times, but we’ve now got more options at our disposal than ever before. Given that EVs can save you money and the environment while being insured similarly to petrol-powered vehicles, they may be worth a closer look. You may be surprised at how they not only meet your expectations but exceed them.

Impact of COVID-19 on Personal Injury Cases in 2021

When the first news appeared at the end of December last year about a new, mysterious virus from China, few people paid attention to it. Even in China, they did not consider it a serious threat. By the end of January, Wuhan was in complete isolation, but this was still considered a local concern of China, where epidemics occur more frequently than elsewhere in the world. How we were all wrong. By mid-March, the whole world had stopped.

Perhaps for the first time in human history, the entire planet was quarantined. The number of people infected with the coronavirus was so large that hospitals had no room for patients with other problems. The whole world economy has stopped. It was important to maintain a constant supply of food and medicine and it was mostly successful. But all other businesses have been partially or completely shut down, leading to a global financial crisis.

Source:weforum.org

There is no sector that has not been affected by coronavirus-related events. Person injury cases are no different. First of all, it slowed them down a lot because hospitals and courts handled only emergencies. But people are still getting hurt and now that life is slowly returning to normal, everyone is wondering how to proceed with person injury cases. We will do our best to give you the answers in this article.

Delay of medical examinations

We all know that in order to receive compensation for a personal injury, it is required to have all the necessary documents from the doctor. Only in this way will you be able to prove the degree of injury and how much it has affected your life and work. Without it, you will not receive any compensation or it will be a very small amount of money. But as we have already said in the introduction, during the coronavirus pandemic, many hospitals that were otherwise available to us became COVID-only. This created huge crowds at other hospitals that received patients who were not contagious. If your injuries were not life-threatening, you may have decided to go home and to see a doctor later.

This is a big mistake because it is necessary for him to examine you soon after the injuries occur in order to get maximum compensation. Also, many do not want to go to the hospital at all, for fear of becoming infected with the coronavirus. This is of course your right, but your personal injury claim will then not be successful. Our advice is to go to the doctor, and follow all the advice of the World Health Organization, such as wearing a mask and maintaining social distance.

Insurance companies are trying to reach a settlement as soon as possible

The financial crisis is also hitting insurance companies hard. Imagine how much money they had to pay to insured companies that suffered damage during a pandemic. Also, tourism has almost completely stopped, so the billions of people who pay for travel insurance every year have not done so now. And of course their shares on the stock market have lost significantly in value.

All this has brought insurance companies to the brink of bankruptcy. For this reason, they want to come to an agreement with you as soon as possible, in order to save money. They hope that you will jump to the first offer and that it will pay you significantly less than it is realistic. They also want to shorten the process as much as possible and not go to court at any cost. Don’t be naive and don’t fall for such attempts.

You need a lawyer more than ever

Source:fsalawfirm.com

If you want your personal injury claim to be successful, you need a lawyer. And that’s always the case, but now during a pandemic it’s more important than ever. For the very reasons we mentioned earlier, which are the attempts of insurance companies to reach a settlement as soon as possible, you need an experienced lawyer in this field, in order for the whole process to end in your favor. Due to the situation, your face-to-face meetings may be difficult, but this will not be a problem due to the possibility of video call and email for sending complete documentation.

Visit cunninghamandmears.com to see which personal injury services are offered by lawyers specializing in this area of ​​law. The lawyer has a lot of experience and will make sure to get the best amount possible for the settlement. And also the insurance company will know that since you have a lawyer, you are ready to go to court, which will deter them from trying to offer you an unrealistically low amount of money.

Mentally prepare for a long process

Source:firstlightlaw.com

It is a long process anyway, and now it will be even longer. The courts operate at reduced capacity and generally handle urgent matters, such as bail orders and the like. So if you get to court, expect a lot of shifting and postponing the hearing and everything else. Now the hearings have started via video conference, so the situation is improving. Still, know that there is a long and exhausting process ahead of you even without litigation. It is up to you to gather all the documentation, hire a lawyer and wait.

Employment problems

Due to the situation with COVID-19, there is a recession all over the world. For this reason, millions of people lose their jobs, and it is almost impossible to find a new job during this period. This will serve the opposing side to offer you less money, as it will challenge the claim that you could not work as a result of the injury. They will state that this is not the main reason, but problems with the labor market and that they would certainly not be able to find a job. However, insist that you have lost significant money due to inability to work as a result of the injury.

Conclusion:

The most important thing is to stay calm and follow the whole procedure. It is clear to you that we are currently living in something called the “new normality” and that is why everything is different than we are used to. But if you persevere, you will succeed.

6 Dumb Insurance Mistakes Even Smart People Make after a Crash

A car accident is never something for which you make a plan. Everyone is well aware that there is a good chance they will be involved in at least one accident at some point in their life. The hope is always that when that day comes, you only suffer minor damages. Some people may do some research, but nobody is ever really prepared. After an accident, you will likely be disoriented, which makes it quite easy to make one of these six common mistakes.

When going up against an insurance company after an accident, you are at a disadvantage on many different levels. You are quite possibly injured and not in your best frame of mind. There is a good chance this is your first accident, while the insurance adjuster does their role every day. The insurance adjuster also has specific training in trying to trick you into making a mistake that devalues your claim.

Here we present you with six of the most common mistakes that people make when dealing with an insurance adjuster after an accident and how best to avoid them.

1.  Filing an Insurance Claim Too Quickly

Source:i-scoop.eu

When involved in an accident, you are going to want to exchange insurance information with any other drivers involved in the crash. Learn more about the documents you should always have on you when driving, which are your driver’s license, car registration, and proof of vehicle insurance. After the crash, if the other driver was at fault for the accident, you are going to want to file a claim with their insurance.

A problem that many drivers face is that they file the claim too quickly. There is a statute of limitations on filing a claim, so you can’t wait forever. However, that time period is typically years, not days. When drivers file a claim too quickly, it often comes back to bite them. They later realize that the claim didn’t come anywhere near covering all of the costs that they accrued from the accident.

Many serious injuries are not immediately diagnosed after an accident. It can take a few weeks before all of the damage that has been done, is fully uncovered. Those who filed too quickly may find that they have missed the chance to get these other injuries covered.

Insurance adjusters are aware of all of these things. That is why, if they know their client is at fault, they may contact you on the day of the accident, before you get in touch with them.

2.  Accepting a Settlement Offer Too Soon

Source:insurcompanieslist.com

Often an insurance adjuster will offer you a settlement the first time they speak to you. Never accept that first offer and do not engage in discussions about counteroffers. The initial offer is typically far below what you can get if you aren’t overhasty. You have no way of knowing the full worth of your claim so early in the process.

In addition to medical expenses that have not presented themselves yet, there may be many secondary costs like lost wages or pain and suffering costs.

3.  Giving a Recorded Statement

An insurance agent is likely to push you for a recorded statement of the incident. They will claim that the purpose of this is to help in determining liability. However, the true intent of the statement is to trick you into saying something that you shouldn’t. They will ask leading questions and try to get you to say things that they can use against you to devalue your claim.

Don’t ever give an insurance adjuster a recorded statement. Politely decline and end the conversation. The less you talk to an insurance adjuster in general, the better your position.

4.  Posting on Social Media

Social media has become a huge part of the world in which we live. Many people post all about their lives on one platform or another, so, of course, they would post about a big car accident in which they were involved. However, a seemingly harmless post can have devastating effects on your insurance claim. Your words and photos can potentially be used to devalue your claim in a variety of ways.

After an accident, avoiding social media altogether is going to be your best course of action. At the very least, you should switch all of your privacy settings to the highest level. There have been cases where private accounts were opened to the court, but those are very rare. To be on the safe side, though, a social media blackout is the way to go.

5.  Giving Authorization for Releasing Medical Records

An insurance adjuster will often request access to your medical records so they can see the files for the damages you are claiming from the crash. This request may seem innocent enough, but it is far from it. They will use your authorization to comb through all of your medical records. Every single item in your medical history, going back to when you were born.

The purpose of this search is to find anything they can use against you. They will look for anything that might suggest a preexisting condition that contributed to your injuries and undervalue your claim in this way. Deny any requests for medical records.

6.  Not Hiring a Personal Injury Lawyer

Source:retraining-uk.com

Choosing not to hire an attorney can be an incredibly costly mistake. Many people think that hiring a lawyer will cost too much money, and insurance adjusters will often try to nurture this idea. However, most personal injury lawyers will work on a contingency basis, which means that they don’t get paid unless you do.

Some people still think that the amount of their eventual fee will eat away far too much of the money gained in the settlement. In reality, people who hire an attorney often get several times the amount they would have gotten without one. So, even after their fee, the client has a much higher settlement amount.

Hiring a qualified personal injury attorney helps to level the playing field. It is no longer a professional insurance adjuster against an amateur victim. Instead, it’s two pros giving it their all. Hiring an attorney has the added benefit of giving you the peace of mind of knowing there is someone taking care of things with the insurance company and that you don’t have to. You can just sit back, relax, and focus on your recovery.

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