Insurance - Page 2

Why your HOA’s Disaster Strategy MUST Include Insurance

Having your own home, no matter if it’s a house or an apartment, comes with a lot of challenges, risks, and responsibilities. As a homeowner, you need to always be careful about what’s happening inside, is there any risk of gas leaking, floods, fires, and how to prevent them. But, at the same time, we all know that we can’t stop some things or fight against them, especially when it comes to natural disasters. But, that doesn’t mean you don’t need to be cautious and try to think about some important things in advance, even though they may never happen. According to farmersbrown.com, you can let the agency create a plan and strategy for your insurance coverage, and get the best service possible when it comes to coping with disasters and what’s left behind them.

Source:hopb.co

Call of Duty

In the aftermath of a disaster, your Homeowners Association (HOA) is duty-bound to deal with all immediate hazards within its jurisdiction. And, in the long term, to restore all damaged common areas to their pre-disaster state. This may place considerable strain on your HOA’s finances. An insurance policy may provide the much-needed funds to implement your disaster response strategy, finance clean-up operations, and pay for the restoration of affected common areas. So, having this type of insurance is only a prevention step, especially if you live in a risky area, and you are sure you want to avoid all the unpleasant things that come in the catastrophe aftermath.

HOAs managing neighborhoods face different risks than those managing condominiums. Though the types of insurance may differ, both will be left vulnerable without coverage.

Immediate Aftermath

Your HOA is responsible for disaster management during and after an incident within your jurisdiction. Usually, this will involve coordinating rapid responses to threats and dangers, including relocating the people to safer places, making sure professionals are around so they can control the situation, and so on. But, you will also need to pay attention to other considerations, including:

  1. The rapid availability of emergency funds.
  2. The extent of responsibility to affected owners.

How do these expenditures relate to insurance? Insurance policies may take some time to payout, so you will need a short-term bridging solution. In case of an emergency, you can’t expect the agency to complete everything for you. They are there only to ease the expenses, and to make the whole process easier for those who suffer. But, you should have those services included in your policy, and that comes with some fees, and that’s why most of the people are taking the basic plan, and they are surprised to hear that it doesn’t cover every disaster result. That’s one of the reasons you should be asking a lot of questions to the agents, and make sure you are getting a complete service, not just some parts of it.

Emergency Expenditure

Consider the types of emergency expenditures following a flood? Several access roads are covered in debris, trees have fallen over and a damaged substation has left 15 homes without power. Contractors are in high demand and the only backhoe available is two counties away.

Daily transactions funded out of your operating account could soon bleed the account dry, and the next thing you know, you are running on reserve funds.

In a situation like this, the future payment of an insurance policy can be used to take out a short term loan.

We can use the same example with any disaster possible, no matter what its nature is. Every day of our lives is a risk, and the current pandemic showed us that no one can stand above nature and try to over smart it. In the world, there are a lot of examples of forest damages, or changing the river’s routes, so there can be build houses and apartments – but sadly, most of the time, nature brings back all the things to normal, damaging those buildings and houses. That’s one of the reasons why we face a lot of risks of catastrophes because someone in the past tried to go against nature. Of course, you are not guilty of that, but when you choose your new home’s location, it’s always better to check the natural conditions in the area, even for decades ago.

Source:valleycapitalrealty.com

Affected Owners

Some HOAs are charged with providing emergency assistance to affected members. This could range from simple acts like helping them find accommodation for the night, all the way to longer-term assistance.

If your HOA is managing condos, you will need to pay special attention to this provision, as it could amount to considerable sums of money, depending on the extent and nature of the damage.

Contractors

Once the immediate hazards have been dealt with, you will need to start rebuilding damaged common areas, including in some cases damaged condos.

Some contractors will be willing to start work while your HOA is waiting for the insurance payment. This can alleviate a lot of potential pressure and avoid strained relations between you and your members.

Without insurance money to back you up, you may find your HOA forced to either increase monthly service charges or postpone much-needed reparations.

Building Code

Source:probuilder.com

Your state’s regulations may prohibit you from simply returning structures to their original state, and require that you rebuild them to conform to the latest building codes and regulations.

This is an important consideration when taking out your policy. Be sure to value buildings in order to meet this requirement in the case of a disaster. New codes and regulations can exceed current value by an order of magnitude.

Without Insurance

Without adequate insurance backing up their disaster strategy, your HOA may well find itself facing a new disaster, albeit one of its own makings. So, be responsible and build up that strategy for you, your family, and of course, for the community and people around you.

How to Deal with Paying for Expensive Repairs to your Car

How do you deal with paying for expensive repairs to your car? Of course prevention, maintenance and safe driving are key. Damage from an accident, even a dent or some other type of damage, that it can cost a lot. A lot of people don’t have the money to pay for repairs on their own, and don’t have the skills needed to fix their car themselves. It can feel like there are no options.

Loans

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If you want to be able to pay for your own emergency car repairs, then you should look into getting a personal loan. A good way to do this is to get a personal loan and use it to pay for the repairs you need. You will have to take care of making sure you pay off the loan within the time frame that the loan is for. Cash advances usually do not have the most friendly loan terms, so be wary of this option.

The most important thing you should do is make sure you can afford the loan. If you can’t afford the loan, then don’t take it. If you have bad credit, you most likely don’t even have this option. Bad credit? Then you have to have enough in your bank account to pay the loan back before they will even think about approving you.

What makes a good loan? Usually a good personal loan is one with a very low interest rate. Look carefully at the loan terms, and make sure that you are looking at the APR, which is the Annual Percentage Rate. A good loan should also come with very flexible repayment terms. If you can get a loan like that like that, then a loan can help you a lot.

The thing to remember about these loans is that you can get one and they actually let you get away with getting more than what you need. Just keep in mind that you could end up paying even more money. Instead, get a loan for the smallest amount possible – not the amount that they approve you for! Don’t take the first thing that comes your way, you may find that there is something better out there for you.

Extended Auto Warranties

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If you don’t qualify for a loan, then you may want to check into getting a vehicle service contract. This will help you to repair your car while saving you money at the same time. These are called “Extended Auto Warranties” in most states, and called “Mechanical Breakdown Insurance” in California.

When thinking about getting an extended warranty on a used car, you might have different options – depending on the state that you live in. The criteria for a good extended warranty company are reputation, monthly payment options, and no waiting period. Gogetolive.com is an option that you’ll want to check out.

If you get regular maintenance done on your vehicle, you will end up saving quite a bit of money over time. Safe driving is also important! The warranty companies will charge you a higher amount if your car is involved in an accident. They may also increase the amount for repairs you need to get done.

Insurance

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Of course also do make sure you have car insurance on your vehicle. It may seem obvious, but it can help you a lot when you get an accident, if you are insured properly. Most states allow two kinds of insurance coverage: Comprehensive and Liability. Comprehensive coverage is the Gold Standard, with everything covered: Damage to any vehicles or persons comes with some sort of coverage. But don’t forget that you likely have a deductible. Paying that deductible means a large expense in itself sometimes. So read through your policy carefully and avoid running into a big surprise down the road.

With Liability coverage, you are covered for damage to other vehicles – and typically for bodily injury – but not covered at all for your own vehicle. This means you will be entirely responsible for the potentially VERY expensive repairs on your own vehicle. These could exceed the value of your vehicle, or not even be possible.

Even if the other party in the accident is not injured, he can sue you. So as mentioned before, always drive carefully and make sure that your vehicle is properly maintained!

Credit

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Have a clean driving record and keep your credit in great shape. You might find that some of the companies will charge you more for auto insurance because of bad credit. Poor credit can cause you to have to pay for some of the repairs that you have to get done. If you have fewer credit options, you are very likely to pay more.

Most repair shops have credit options available, but none are what most would call a good rate. Even if you were able to pay in full for your auto repair, you are likely to be offered their house brand of credit card – with the cashier getting a bonus based on your signup! So beware of this type of credit to keep expenses down.

Make sure that your credit report is checked periodically. Your lenders certainly will! Most lenders will run a credit report once a year. This will let them know if you are still able to make all of your payments and keep up to date with your bills. It will also let them know if any outstanding accounts you have are current. Make sure that you also check your credit report every year. You will want to note any mistakes in reporting, and dispute anything you have a valid reason to dispute. The longer an error is on your credit report, the more difficult it will be to remove.

If you keep in mind a few simple tips, you will be able to save a ton of money on repairs to your car. Car repairs tend to be expensive financial emergencies, but you can get through them with personal loans, insurance, an extended auto warranty, or other credit options.

Relocating for Work in China? Expat’s First Steps

China has been attracting people from all over the world, so it’s not surprising some consider moving there. The country is famous for transforming itself from a developing area with millions of poor citizens into a powerful and technologized machine that now produces over half of the overall world’s goods.

So, what do you need when relocating to China for work? What is the cost of living there for a year? Are there any guidelines you should follow during the transition? If you’re an expat and planning to move overseas for a new position, this article will provide you with essential info you should know.

Most westerners moving to China have claimed that getting a job is easier than they expected. The most straightforward job for expats is within the English teaching sector because organizations and educational facilities are always searching for native speakers. You don’t even need to speak Chinese to apply for an English teacher position. But if you’re applying for a manager or engineer position, you need to speak some Chinese to communicate with your co-workers easily.

Without much ado, here are the steps you should follow when you plan a relocation to China.

Visa regulation when moving to China

You need a visa when you plan to move to China for work. Chinese authorities have adopted a new law according to which your visa history impacts the counselor’s decision to issue or renew your visa. You can apply for one of four types of visas when you plan to immigrate to China.

– Chinese working visa. To obtain it, your employer must provide you with a work permit. When you arrive in China, you need to register with the police station in your area and get a residence permit.

– Business visa. Apply for this visa if you are traveling overseas to engage in commercial activities or start a business.

– Chinese study visa. You can choose from two types of visas X1 and X2. Both are created solely for students, so you cannot apply for one and gave up school when you arrive. The X2 visa provides a single-entry to the country, and you can use it for less than 6 months. The X1 allows you to enter the country multiple times and stay longer (during your bachelor’s or master’s program with a local university).

– Chinese tourist visa. To get a tourist visa, you need to prove your hotel reservation and vacation plan and documents to prove you have enough funds in your bank account to visit the country.

Visa regulations are frustrating, and the process can be lengthy (it can take up to 2 months), so it’s best to hire a consultant to guide you through the process.

Source:studyinchinas.com

Find accommodation

As everywhere around the world, the rental and housing prices fluctuate throughout China. If you’re relocating alone, a one-bedroom apartment is more than enough, and it can cost around $300 monthly. But if you’re moving to China with your family, expect to pay somewhere between $800 and $1000 per month for a three-bedroom apartment. The average price per square meter to buy property in China is $7000 (in city centers).

Most rentals provide TV and Internet access, but to ensure you browse the Internet securely and the Government doesn’t surveil your activities, get a VPN. Visit this page to check the top of the best VPN services in China. As an expat you may want to use websites like Facebook, Instagram, or Netflix, but China restricts its residents’ access to specific websites, so you need a VPN to remove geographical restrictions on content.

The cost of living in china isn’t high, and the average salary for an expat is from $1700-2500. Relocating to China for work can be an opportunity to save money. Most foreigners prefer living in big cities like Tianjin, Shanghai, Guangzhou, or Shenzhen.

Apply for a job

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As you already know, China is the world leader in manufacturing, having the highest number of factories worldwide. As an expat, you can easily find a decent job in any industry, from agriculture to healthcare, IT, mining, and textile. Even if most Chinese are qualified in their profession, the country is actively attracting foreigners looking for a well-paid job in sales, finance, marketing, or teaching. As stated before, most expats occupy English teaching positions in China, and if this is the career path you want to follow, you need a TEOFL certificate in advance to meet educational institutions’ criteria.

If you’re an entrepreneur who wants to start a business in China, you’d be happy to find that the country is rich in talented professionals.

Even though the country provides expats with many job opportunities, knowing how to find the right position for you is essential. To get a job in the principal cities, you need at least two years of experience after obtaining your university degree or PhD. If you lack experience, relocate to a smaller city where the job requirements are less strict. You can also apply for an internship with an international company to gain experience.

Healthcare

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China’s national healthcare system operates under the state social insurance plan, but it’s not free. This means you can obtain basic insurance coverage without too much hassle if you’re willing to pay. In general, health insurance covers most medical issues and procedures, but it’s recommended always to ask the medical expert you visit if you must reimburse the procedures.

Suppose you’re suffering from a chronic condition. In that case, you may not find the Chinese healthcare system suitable to treat your medical problem because the public system isn’t as developed as the ones from European countries, the USA, or Canada. Chinese people still appreciate the benefits of traditional rituals and healing practices. So, if you use a specific treatment scheme to alleviate your symptoms, check ahead if you can stick to it once relocating to China because the local doctors may not be able to prescribe you the same drugs because they lack from their healthcare system.

Check with your employer if they offer any type of health insurance, and what conditions it covers because you may need to purchase an additional policy.

How Does the Stock Market Affect Mortgage Rates?

If you are about to buy a house, the chances are that you are also about to submit a mortgage loan application. It means that you are exploring different options, i.e., loans and interest rates. After all, these are fixed, meaning that you have to carefully think about how much money you can afford a month.

At the same time, mortgage rates are affected by multiple factors, and it probably is a good idea to investigate these. This way, you will be able to understand what could potentially happen, what changes might occur, and how they could affect your monthly payment.

Well, in this article, we will introduce you to the correlation between the stock market and mortgage interest rates. What is the connection between these two, and what type of effect can they have on each other?

Source:choicemortgagesolutions.com

They impersonate the economy

Before we discuss the connection between the stock market and mortgage rates, let’s talk about this. You will probably say that it is completely natural that both of these mimic the economy, but what does this exactly mean?

Well, basically, when the economy is steady, both of these increase. However, when things go wrong, these tend to follow, as it is to be expected, i.e., they fall. But why does this happen? Well, when investors get worried about the health of finances and the economy, they tend to move their money and invest in bonds, since they can rest assured they will get their funds back. As you might know, there is no such thing when it comes to the stock market.

What is the influence of the bond market?

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Even though the stock market and interest rates aren’t closely connected, the same cannot be said for the mortgage rates and bonds. We have already explained that the investors tend to move their money to the bond market, and when this happens, as you can assume, the price of the bonds increases and the yield decreases. This is the main rule of the law of demand.

This bond yield is the standard for most of these rates, some of which are credit card, mortgage, auto loan rates, and so on. So, put simply, when there are many mortgage bonds on the market, the demand is lower, which also means that interest rates are lower. Nevertheless, if the number of bonds was to stay the same, and the demand was to increase, the interest rates would also rise.

Federal Reserve also plays a role

The most important task of the US Federal Reserve is to keep an eye on the inflation, that is, to ensure that it is stable. If inflation were to rise significantly, without control, it would decrease the value of the American dollar internationally. So, to prevent this from happening, they monitor the mortgage bond market and are always prepared to intervene if they noticed any signs of trouble.

What do they do? Basically, they lower the mortgage rates. They do this by buying a lot of bonds to decrease interest rates. On the other hand, if they find it necessary, they sell these bonds, and therefore, raise the Fed Funds rate, i.e., the rate at which they lend the money to the banks.

Applying for a mortgage

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Now that we have explained the main factors that affect the interest rates, let us give you some practical tips on how to find the best loan for you. Obviously, first things first, you have to do thorough research, so our initial advice is to visit the pureloan website to explore some of your options.

The next thing you have to do is set a budget. If you want to get approved on your first try, you have to be realistic, and therefore, apply for a reasonable amount of money. The lenders determine this amount by looking at your debt-to-income ratio. Basically, they calculate what percentage of your monthly income you spend on paying off debts. There are a few rules here, so you should definitely contact the lender you have chosen to help you with this calculation. What’s more, if you are not sure about the funds you could get, you should ask them to do this calculation, to figure out what your budget should be.

If you are shopping for lenders and are of age 62 to an older it is important to know your qualifications for a reverse mortgage loan which is a federally insured equity loan option for seniors that allow you to tap your equity without having to take on a traditional mortgage payment. You can, however, apply any repayment you’d like or at your discretion for interest until you have sold your home. Any remaining equity belongs to your heirs and there is no recourse should home at maturity end upside down. To get an idea of how much money you may qualify for visit reversemortgagereviews.org or similar companies through your local reverse mortgage lender.

Furthermore, don’t forget about the credit score. The better your credit score is, the better interest rates you will get. Yes, this can save you thousands of dollars, so you should do your best to improve it. Basically, you can start by paying off the debts, paying all your bills on time, and also avoid opening new accounts, but instead, managing the ones you already have.

In addition, there is another thing you can do to lower your monthly payment, and it has nothing to do with the interest rate. When you get approved and receive the loan, you will also have to pay for the private mortgage insurance. Nevertheless, you can eliminate this expense by having a down payment of at least 20%. If you don’t have any other debts and expenses, you should try to save as much money as you can for this payment. Just try to calculate how much you will be saving in the future, and you will understand that denying yourself some small pleasures now can be quite beneficial in the time to come.

4 Questions You Should Ask Your Car Shipping Company

Many people call upon the expertise of professional car shipping companies to aid them in transporting their vehicles. The reason for obtaining these services varies based on the owner of the car. Some cars are classics and shouldn’t be driven long distances to help maintain their quality, and others may be going overseas. No matter what reason you have to use auto movers, the crucial thing is making sure they are the right shipping company for you.

You will find that many different guides exist on the internet that gives you advice on different car shipping scenarios. These can be helpful, but they don’t always tell you what you should be asking before you choose the car shipping company, according to a1autotransport.com.

Not all car shipping companies are created equally. Some companies are created as a front to take your money, leaving you and your car high and dry, and trying to figure out your options. By asking loaded questions, you can explore the legitimacy of a car shipping company.

So, what exactly should you ask car shipping companies?

Source:autotransportcity.com

What types of services does your company offer?

Knowledge is power when you are looking for a car shipping company to handle the transport of your vehicle. Having a basic understanding of the industry before you begin making phone calls can help you weed out the companies that will be of no use to you.

To get the full potential out of this question, you shouldn’t begin your conversation with the company by telling them what you need. Instead, start by asking them what they offer. If you need additional services like moving household belongings, you might want to make sure they are a full-service company. Any company can tell you that they provide the service you need, even if they don’t. Some shipping companies will tell you whatever you want to hear so that they can get their hands on your money. That is the purpose of these four questions, to save you from those companies that are not legitimate.

Within the vague service area question, you will have the chance to counter-question their answers. Here are some of the additional questions that you might want to ask that tie into the original question about their services.

What cities do your services ship to?

You don’t want the company to tell you they service your point of origin or destination for your car if they don’t handle those areas. Besides the outrageous pricing you might be looking at, the potential for an accident increases because they are not familiar with the area. If you require international shipping, this question will answer if they provide international shipping or not.

What methods are available for shipping my car?

Many different methods are available when shipping a car. A lot will depend on the destination of the vehicle on how the proposed company plans to get it there. For domestic shipments within the United States, using an open-air trailer or enclosed trailer is the most popular method of shipment. Internationally roll-on/roll-off (RoRo) and container shipping are the most common methods. If you have your heart set on enclosed transport for a classic car and the company doesn’t offer that type of transport, you may need to keep looking.

What types of licensing and insurance do you have for your transport fleet?

The Federal Motor Carrier Safety Administration (FMCSA) has requirements for commercial carriers who transport items on the roadways. Among these requirements is the minimum insurance coverage that the company can carry. These carriers are also required to register with the FMCSA and the United States Department of Transportation (USDOT). Once they register and are compliant, they will receive a DOT number and a Motor Carrier number.

You will want to ask about the following insurance coverages:

Auto Liability

o   Bodily Injury Liability

o   Property Damage Liability

Physical Damage Insurance

o   Collision

o   Comprehensive

Cargo Insurance

Most companies that transport vehicles are required to carry a policy with a minimum of $1 million coverage.

Make sure you have written down the DOT number and the MC number. You can use these to research the compliance of the car shipping company and learn more about them, including their safety records and inspections.

How do you provide quotes to your potential customers?

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If a company makes it to the quoting part of the questions, the chances are high that you believe they are a potential candidate to ship your car. At this point in the interrogation, you will want to find out as much as you can about how they price their shipments. Most professional car transport companies offer free quotes, and you should be wary of the ones who do not.

The company should ask you questions to help determine the approximate price of the shipping for your car. These questions will include:

– the make, model, and year of your car
– if the vehicle runs
– point of origin and the destination for the vehicle
– the method in which you prefer to have it transported
– when you need it to be transported

All of these questions help determine the weight and mileage, as well as any special circumstances regarding the transport. The weight and mileage play a significant role in the pricing for your vehicle’s shipment.

Once you are quoted a price, ask that it be sent to you in writing. Most are being done via email, so you should have the quote in your inbox relatively quickly. Opt for the company that provides you with transparent pricing. This company will be the one who breaks down the specialized fees right on the quote, think of it as full disclosure. Take notice if they require a deposit. Some shipping companies do but watch out for the extremely high deposit requests.

Are there any special requirements involved in shipping my vehicle?

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Here is the million-dollar question, because the answer should be “yes” when you are talking to a car shipping company. There are special requirements to take into consideration regarding domestic and international shipping.

You have to be able to prove that you are the legal owner of the car, and you can ship it. Domestically you simply need to prove that you are the sole owner. However, Internationally, you would have to have any co-owner or lien holder’s permission to take the vehicle out of the country. You must be able to present documentation to the car shipping company because they will need to be able to provide this information should authorities request it.

You will have to prepare your car for shipment. For both types of shipment, it is similar, with the exception of some countries requiring steam cleaning before entry through their borders. Your car shipping company should provide you with the list of items you need to accomplish before the reserved pickup date.

Use Questions To Get The Best Shipping Rates

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It was said before, but why not repeat it, knowledge is power when you are working with a car shipping company. For those companies that are not big-franchise-owned, you can usually talk down the pricing, if you are feeling confident. Regardless, you will have an easier time handling the situation if you have a general understanding of what you need to accomplish. You can also rest assured that if you come across knowledgeable, the person on the phone probably won’t try to upsell you for something you don’t need. Whatever you decide, know that with these tools, you can navigate the car shipping industry and team up with the perfect company for you.

When Is Insuring the Right Choice?

Insurance is one of the most important things in the modern world. Whatever you buy or sell, or whatever kind of service you get or provide, some kind of insurance is probably going to be involved. Therefore, it should always be on your mind especially when it concerns your wellbeing, or the health and the needs of the employees you work with. WIth that in mind, in this article we will explore the simple question of when insurance is needed and when is it the right choice.

First of all, ask yourself this simple question: Am I buying too much insurance and do I really need that much?

You will find that it is more challenging to answer that question than you might think. In addition, the trouble to answer it mostly stems from the idea that insuring is generally thought of as a good thing and that everyone should have it for everything.

While there is nothing wrong with insurance, it makes sense to avoid it a lot of the time. But how do you know when it is the right choice to skip on the insurance? That is what you are going to learn in this article. Keep reading to find out when it makes sense to insure, and when it does not.

Do You Need to Buy Insurance?

Source:patriotwatch.org

Before you ask yourself if you need insurance, another question arises. Try asking yourself this instead and go from there:

Do I have to buy insurance at all?

As you might have guessed, in most cases the answer to this is yes. You must buy some degree of employer’s liability insurance if you are an employer for instance, that much is certain. Still, there are a few exceptions to this.

You can safely exclude those situations from your calculations. If you risk a fine of £2,500 every day you are not adequately insured, there is no real way to make it a better choice not to buy insurance.

So as you can see, this is a big part of your work done. Now, you only have to focus on the situations where you have a choice of either insuring or not.

When Should I Buy Non-Compulsory Insurance?

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Right, not that we have the field narrowed down a bit, the question is a little easier to answer. But the answer is still less intuitive than you may have thought. A big problem that organisations run into is failing to account for their risk financing time frame. What is this, I hear you ask? Your risk financing time frame is the period over which you can spread the impact of a loss. Here is an example to better explain this.

If you suffer a loss of £100,000 today, how much time will you have to make up for it? If you are insured, it does not really make much of a difference because you can, in theory, recoup the loss immediately. However, you will affect the volatility of your premiums.

If you are not insured, you will have to absorb the loss and have to make up for it until sooner rather than later, you suffer another loss. So, as you can see, you are paying for it either way, whether it is in the form of premiums or from your own self-insurance plan.

For some organisations, this time frame is effectively indefinite and those involved may take full advantage of this. Local authorities, for instance, have constitutional permanence and there is very little risk of one collapsing. Therefore, a local authority has a very long risk financing time frame in case something ends up happening.

On the other hand, a smaller company that has shareholders to answer to, might not have such a long time frame and has to adjust accordingly. Therefore, according to insuranceinspectservices.co.uk it would be the right choice to insure the things the company can never afford to lose.

When Shouldn’t I Buy Insurance?

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Rather than focus on the results of an event, think about the consequences over a long term period. If you purchase business interruption insurance with an annual premium of £1 million, you might need to lose upwards of eight days of business to justify it.

What are the odds of that happening? They are certainly not zero, but they are still quite low. Would it then not be better not to insure and potentially lose two or three business days with potential savings of £500,000 in premiums?

You see, with a risk financing time frame that is long enough, no loss is too large unless it wipes you out right on the spot. Being aware of your risk financing time frame is the key to knowing when it is the right choice to buy insurance.

Think in terms of what the probabilities are that you will need a certain level of coverage you are going to pay for. Do not focus on the outcome of single events but think about the bigger picture.

Insure What You Cannot Afford to Lose

Insuring is the right choice when you need to protect yourself from catastrophic events or when your risk financing time frame is too short to absorb a loss. If something happens and the main thing that you need for your business to run fails, there are going to be shattering consequences you may never require from.

This is why insuring your most treasured things is crucial in any kind of business, however unlikely they may be to break down or become damaged. It is also always the right choice to purchase compulsory insurance. In all other cases where you can easily survive without something, you do not need to insure it. You can have the luxury of thinking in the terms of probabilities, and not events when determining if you really need insurance.

Our InsuranceInspect Services consultancy product can help you to design policies attractive to insurers, reducing your premiums Substantially, Safely and Strategically. Therefore, give them a look if this sounds like something you may need in your life.

The 9 Step Process Of A Personal Injury Auto Accident Case

Auto accidents happen within the blink of an eye, and the result leaves you with injuries that could be potentially life-threatening.

When in these situations, the best thing to do would be to file for a personal injury. Filing this is only possible if you’ve ended up injured during the whole ordeal. If not, then you have no case to begin with.

However, if you’ve sustained any type of injury, then this is the 9 step process of a personal injury auto accident case.

We will be explaining the entire process from start to finish, so don’t go anywhere. Without further ado, let’s start.

Source:acriminalwasteofspace.com

1. The Investigation

Forget about your car; your number one priority is to check the severity of the injuries after a car accident.

If the injuries are too severe, then you might have to seek medical treatment ASAP. If not, then the investigation part begins. This is the first step of your personal injury process, and it involves taking photos of your injuries and the scene.

What you should also do is also talk to witnesses and write down what they have to say. Witnesses are vital for your chances of success, and there will almost certainly be one or two.

2. Get Treatment

Getting treatment for your injuries is quite possible the best proof you can have. Since you’ll have to visit a hospital or medical facility for the treatment, the doctors and nurses there will record and document all of your injuries.

This is rock-solid evidence that you’ve actually sustained body damages and it also determines the severity of those damages.

3. File a Claim With the Insurance Company

Source:insurancesupport.org

If you have the necessary coverage, then you’ll need to notify your insurance company of the accident.

This is your best bet to have your car as soon as possible and get you back driving. Insurance companies cover for damages regardless if the accident is or isn’t your fault.

Be wary of money offerings from the other person’s insurance company, as these are generally much lower than the actual cost for repairs. If their insurance company doesn’t offer a sufficient sum of money to cover for repairs and potential damages, then you might want to consider hiring an attorney. A good option is torklaw.com, a personal injury and accident law firm dedicated to obtaining outstanding results for those who have been injured due to someone else’s negligence

This attorney is a personal injury attorney that specializes in exactly these cases.

4. Talking With Your Attorney

Source:criminaldefensene.com

In most cases, this is the fourth step of the process of filing a personal injury claim. This step is the reason why this type of process exists.

Insurance companies would rather lowball their way out of a case rather than pay up what they owe. So, people get angry and they end up in court.

When talking to a professional that praises personal injury law the first thing you’ll discuss in your first meeting is to ask for their experience. Only a person that has tons of cases behind their back can help you win your case.

Before talking to an attorney, you should educate yourself on the topic of personal injury. A great resource for that can be found if you click here.

Other things to discuss with your attorney are fees, strategy, and what to look for in terms of reimbursement.

5. The Medical Investigation

Now that you’ve hired an attorney, it’s time to start the medical investigation.

This part will be solely conducted by your attorneys as it will be a part of their job. This is something that every personal injury attorney does and they do it very professionally.

Some of the things involved in this step include following up with medical professionals that have treated you, obtaining your medical record, and the medical bills connected to this case.

Once they’ve acquired all of that information, the attorneys will wait for your injuries to heal before sending all information to the insurance company.

This is sort of like a declaration for court, as it is the first and formal conversation between both parties.

However, there is the likely chance that your injuries are more severe than originally thought. When this happens, the attorneys will visit the medical experts one more time and make a report of the injuries. They will then send this report along with the rest of the information.

6. Demanding a Settlement

This part starts when your doctor gives the all-clear for you to continue with the filing process.

In some cases, you’ll demand a settlement from the opposite party, but, this won’t actually happen as it will be the insurance company that makes the initial offer. However, most reject it since it is either too low or too unreasonable to accept, so you’ll end up going back and forth a couple of dozen times.

7. They Settle or You Go To Court

During the negotiation, at some point, the insurance company will send a “final offer”. This offer means you either accept it or you file a lawsuit.

Contrary to popular beliefs, not many people wish to file lawsuits, so they end up taking the offer.

However, that’s not always the case and if you still feel you’re being undervalued then it’s maybe time to file one.

Source:farivarlaw.com

8. Discovery

This is the part of the process where your attorneys and the attorneys of the insurance company research the other party.. This means that the insurance company will start digging into your past in a bid to try and stop you from winning the case.

But this also equips your attorneys with the much-needed firepower to go out and do what they do best.

After the discovery period ends, the mediation starts.

9. Mediation

This part always happens before you go to court and it involves hiring a third-party mediator to try and talk things out between both parties to avoid going to court.

This person will try to push for a settlement to be agreed between both parties but, unless a change of heart, this won’t happen.

And if the mediator fails to reach an agreement between both parties, you’ll end up going to court.