What Does Liability Mean on Your Car Insurance?

Liability insurance is very important and most state auto insurance laws require that an individual maintain at least liability insurance on their automobile. What it does is protect you against costs that are associated with the damage and injury of another in an automobile accident in which you may be deemed at fault.

There are two parts to the policy. There is property damage liability and bodily injury liability. It is pretty easy to guess that property damage liability is going to protect you against any cost and damage that is associated with damaging another person’s physical property and that bodily injury liability is going to protect you against the personal injury inflicted on someone else as a result of the accident.

Usually, there are some numbers that a person may see on their policy. These numbers usually look like this: 50/100/25. Now what this means is that the policy is split up into three different amounts each policy can be different depending on what the individual chose when they opened the policy. In this case, 50/100/25 means that the insurance will pay for the bodily injury of an individual in an amount up to $50,000, will pay for the bodily injury costs on everyone in a vehicle in an amount up to $100,000, and will pay property damage costs up to $25,000.

Every vehicle requires its own level of liability insurance depending on what state you are located in. It is important to know what your state’s auto insurance requirements are so that you have an idea of what you would have to pay in your insurance premium.

The cost

Liability insurance is cheaper than full coverage insurance that also includes damages from theft, natural disaster, and vandalism. Liability only covers costs associated with an accident so that you do not lose your hard earned assets in a lawsuit. There are have been cases in which a person has been sued for more that what they have in coverage, but the liability insurance does lessen the blow. However, a person can pay for different levels of liability insurance to ensure that they will not be “taken for everything they’ve got.” Not having enough insurance can still have a heavy impact on a person’s life when an accident occurs.

No one intends on hurting another and they usually do not purposely engage in an auto accident because there is so much trouble involved, including the possible loss of the vehicle. That is why it is important to carefully assess how much car insurance you think you will need. Liability insurance is rather affordable. Some states have a minimum requirement of 20/40/10, but you could carry something such as a 50/100/50 if you think you need it. The cost is still not going to be much.

Just remember…

Don’t forget that if you set your limits too low you could be setting yourself up for financial disaster even though you have insurance. This is to be considered carefully. It is easy to make the decision to save money by paying the lowest premium possible, but paying the lowest premium possible could later result in the loss of your assets. It is also important to remember that liability just covers bodily injury and property damage. If a tree falls on your home during a wind storm, it is then time to assess your options. However, liability insurance will protect you from those nasty lawsuits that may come your way as a result of an accident. That in itself makes it more than worth the money because you have the peace of mind that most or all your assets are protected.

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Basketball Shooting Fundamentals – How to Shoot a Step Back Jump Shot

If you are a slow, un-athletic player you must adopt the step back jumper and add it to your arsenal of weapons. This is the future of basketball. This move is perfect for any player that is not quick enough to get to the cup and can provide a shooter with another way to score the basketball. The move is actually done more effectively against good defense. If the defense plays it correctly and the step back is unavailable the counter to this move will open up something with even more space to get off a shot or drive.

If you do not know what a step back jump shot is, I will explain it briefly. It is when a player uses the bounce to drive towards the hoop then instead of going straight up to shoot a jump shot he/she creates space between him/her and the defender by taking a step to the side then shoots the jumper. You might be asking, “Well, that doesn’t make sense. Why would the player take this extra step and isn’t that traveling?” The reason the player does not just shoot a regular one-dribble pull up is because the defense is there and has beaten the player to the spot. The player was not quick enough or did not use a good enough move to blow by therefore the only way for the player to get a shot off is to create space with this move. This is not traveling at all if done with the proper footwork.

This move is too difficult to explain its execution in just words so I suggest you search through YouTube for a demonstration if you have never seen it done before. When practicing or coaching this move there are certain things you must be persistent about:

– The “step-back” is actually a side-step. Never step back because you will not give yourself a lane to counter.

– Your last dribble before the move should be your hardest, and in the direction that you are stepping, and your body is then chasing the ball and meeting it to go up into your shot.

– Do not use your off arm to push off of the defense. Use your shoulder to make contact.

– Get into the defender with your body. Before you step back make sure you give him a bump so that he can’t contest your shot.

In the next article I post I will talk about the counter to the step back. This will prove to you this is by far the most unstoppable move if a player can master it.

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Backpacking Vs Organized Tours – A Decision Every Traveler Faces

In planning my RTW adventure, I have been giving considering thought to the options of backpack solo, or booking into an organized tour. In my past travels, I have done a combination of both organized tours and backpacking solo and both have their good and bad points.

ORGANISED TOURS – THE GOOD …

Time Poor – If you only have a limited amount of time to go travel, then an organized tour is great as you will be able to get around and see all the things you want to, without the hassle of organizing the trip yourself.

New Friends – Usually people who book an organized tour with a specific company all have similar interests. I have made some amazing friends through doing organized tours and still, to this day, keep in touch with them.

You can be lazy – Once you have booked your tour, paid and packed your bag, you do not need to worry about a thing! You are in effect paying the tour company to take care of transportation, meals, accommodation and all the hassles involved in traveling.

ORGANISED TOURS – THE BAD …

Usually inept – Every tour has someone on the tour who will drive you nuts. When in India, I was traveling with two girlfriends and because there were 3 of us in total, we had to alternate sharing a room with another female. Unfortunately this female was an older woman who had no self awareness and was clearly an inexperienced traveler, some of the "interesting experiences" we had with her included:

  • She did not shut the door when she went to the bathroom, I would NEVER go to the bathroom with the door open, especially when I had only known the person for a matter of weeks …
  • She did not bring adequate first aid and medication supplies, unfortunately she came down with a mild cold / flu and proceeded to use everyone else's medicine and she never offered to replace it. When we went past a chemist, she was that inconsiderate that she did not even think to buy her own supplies.
  • She forgot her torch, now on this tour we were camping along the Ganges for several days and a torch was essential. So every time she went to the bathroom she borrowed my head torch, the problem was that she put this on her sweaty head and handed it back to me wet .. YUCK!
  • She hung her underwear up all over the bathroom and on my chair and bed, it was not a pleasant experience having to relocate her over sized bloomers every time I wanted to sit down …
  • She would leave the hotel with the key, there were several occasions when I was stranded outside of my room and had to wait for her to return, rule number 1 of an organized tour is ALWAYS leave the key with reception when you go out.

People who do not read the trip notes – Of the tours I have done, I have encountered two travelers, who never should have booked on the types of trips that they did. The first encounter was in Thailand, there were a young English couple on the tour, they had never traveled outside of britain and were both very young. They winged, moaned, sacrificed and did not enjoy themselves and pretty much did everything in their power to let the rest of us know they were not enjoying the experience. Had this couple taken the time to read the trip notes, they probably would have realized what they were getting them into and perhaps, reconsidered their trip.

Waiting, Waiting & Waiting – Now because tour leaders are acutely aware that people are always running late, whenever you need to leave your hotel or meet as a group, the tour leaders always tell you to meet at least 1/2 an hour before the Actual meeting time. This is fine if your the type of person that is always running late, however for the rest of us it means waiting around in lobby's for what looks like forever !!

BACKPACKING – THE GOOD

Now my personal preferred method of traveling is backpacking! And some of my favorite things about this mode of travel include:

  • You do not have to answer to anyone, if you do not like a place, you can simply leave, if you like it, you can stay!
  • You meet some amazing like minded people along the way, hanging out at hostels and having a beer in the lounge can introduce you to some amazing people
  • It is very inspiring hearing what other people have done and are doing, my addition to travel has come out of hearing other peoples stories about what they have done!
  • Other backpackers are generally very considerate and willing to meet new people and share their experiences
  • It is cheaper! You are not paying a premium for a tour company, a tour guide and their accommodation so you can cut costs as you see fit, stay in a nicer hotel or a cheaper hotel if that suits you!
  • If you get drunk and make a fool of yourself, you can just move on! You do not need to deal with anyone the next day!
  • It is easier to have a holiday romance! One of the most amazing romances I have ever had when I finished my organized tour in Thailand and backpacked around for a week, I met a wonderful American man who followed me to Bangkok and then onto Australia! I could not have had a romance when in an organized tour, especially an extended one as if it gets complicated, it can make the entire trip awkward!

BACKPACKING – THE BAD

At times you just want to have someone to take your photo! If you can not find someone to do side trips, you end up getting a lot of self portraits that are not exactly flattering!

It can be frustrating navigating around cities and countries on your own when you do not speak the language. Particularly if you are white and traveling to an Asian country, people know your a tourist and can take advantage of this.

  • You are a target, as a female you can be a target from male advances and this can be quite intimidating if you do not have the confidence to deal with it.
  • It can get lonely, if you do not strike up friends along the way, you can end up spending a lot of time alone, which on occasion can be nice, but it is very nice to share experiences with other people.
  • If you get sick, you are on your own, there is no-one to bring you medicine or look after you!
  • When you get home, you do not have anyone to share your experiences with, when traveling with a partner you can always reminounce about the things you have done, or you can email others from your tour and keep in touch. But when you travel solo, the reality is no one really cares what adventures you have been up to, they pretended, but they are not really interested!

All in all there are definite advantages and disadvantages for both backpacking and organized tours, for my trip I will be doing a combination of both n the beginning, however once I have finished in Africa, it is my intention to go solo for the rest of My trip and meet some new and exciting people along the way!

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Things You Should Never Put in Your Will

A will will a vital estate planning document, and allows you to distribute your assets and property according to your wishes. At a minimum everyone should have a will, even if you believe you do not have many assets. It is a common misconception that only rich people need estate plans. A will have a number of limitations you may not be aware of. However, there are several items that should NOT be included in a will:

Property held in a living trust or joint tenancy – property deeded to a living trust can not be refused to someone else, and a will can not change the right of survivorship in joint tenancy, which passes to the joint tenant by law. Do not let the legalese scare you. Let an attorney help you ensure that any property you leave is handled in the way you want.

Accounts with designated beneficies – financial accounts and life insurance proceeds go to beneficiaries who are designated by you via a designated beneficiary form, and can not be given to someone else through a will.

Contingency gifts – leaving assets that are contingent on the beneficiary performing a duty or act (like marrying or attending college) is not always legal. Generally speaking, you can not "manage from the grave" by making an inheritance contingent on someone getting married, changing their religion, etc.
Provisions for those with special needs – this should be done via a special needs trust.

Provisions for pets – pets do not have the legal ability to own property, so consider acquiring a pet trust to care for your pet (s). Did you know that you can leave money for the caretaker of your pet and of course choose who or what organization you would like to care for your pet.

Funeral instructions – since a will will not be read until after the funeral, leave instructions for your funeral arrangements in a letter of instruction or discuss your wishes with loved ones. It is also advisable to get funeral insurance. Save your loved ones from the hassle of chasing money immediately in the aftermath of your death.

Many of the items above can be addressed in a trust designed by your attorney. It also shows that "wills in a box" software many times will not ensure your desires are abided by. If you'd like to learn more about establishing your personal estate plan, call an attorney today.

To Your Health, Wealth & Happiness,

Walter H. Bentley III
Http://www.wbentleylaw.com

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Insurance Claims – Get an Advance Payment!

Insurance claim advance payments are not widely known by people who file claims. Often, when an insured has a loss of significant size, such as a flood, tornado, wildfire, hurricane loss or a big water damage loss, an advance payment of a portion of the anticipated settlement is issued by the insurance company. This situation also happens regularly when a business has a loss and needs money up front.

It is a customary and widely accepted practice for the insurance company to issue an advance payment in this type of instance. Be aware that there’s nothing in the standard property insurance policy that deals with advances. It is usually just a courtesy that the insurance company extends to their policyholder.

However, they don’t usually offer to do it. You have to request the advance.

Here’s an example. Joe Smith’s house is hit by lightning, and a fire damages most of the house. Joe’s policy has Building limits of $100,000, Contents limits of $50,000, ALE limits of $20,000. The house can be repaired for $70,000, which is less than the policy limits. However, the adjuster expects that the Contents loss will exceed the policy limits of $50,000, and the ALE loss will be $15,000. The adjuster sends in his first report to the insurance company, and tells them to expect the loss to be approximately $135,000 on these three parts of coverage.

The insurance company could easily issue an initial advance payment of $25,000 to $35,000 for Contents and ALE, and $40,000 to $50,000 for the Dwelling loss.

So, what do you do if your Contents are damaged and you need the most basic things, like a change of clothes and shoes? What if you need to have a contractor secure the building and put tarps on the roof to keep further rain out of the building? Most people do not have tens of thousands of dollars just lying in their bank accounts that could be used to begin repairs, or begin replacing personal property. That’s when the insurance company issues an advance.

It’s best to make your request in writing. Even if it’s just a hand-written letter, it’s best if it’s in writing. Write or type your request, keep a copy for your records, and give the copy to your adjuster. It’s also a good idea to send a duplicate copy to the claims department of your insurance company. Send it by overnight courier or certified mail. NEVER rely on the adjuster to ask for an advance on your behalf. He might get delayed with other work and it could be days before he asks. DO IT YOURSELF.

Take control of your claim, my friend! Make an EARLY request in the claims process for your advance payment!

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Difference Between Employers’ Liability Insurance (ELI) and Workers Compensation Insurance (WCI)

Employers’ Liability Insurance (ELI) and Workers Compensation Insurance (WCI) are two important insurance covers to protect the interests of employees, as well as employers. There are, however, certain differences between the two. Due to these differences, it may result in wrongful litigation and consequently anxiety to parties involved. The differences between ELI and WCI are relating to where they apply and what they cover. We will discuss about them here briefly.

Where they apply

Employers’ liability insurance

As an employer, it is mandatory for you in UK to purchase employers’ liability insurance. Not purchasing attracts penalty under law. In certain situations your employees may feel that you are liable for job related illness/injury which they may sustain and they sue for this. If it is really a case, it may bring in expenses such as hospitalization, financial compensation and the like. ELI helps you under such circumstances.

While it is mandatory for you as an employer to have ELI, your employees need to prove that the job related injury/illness is because of your negligence. Imagine yours is a lumber business. While working, your employees should have the necessary equipment, training and skills to operate them. If you employ them without teaching the safety norms, imparting the training and checking the fitness, and they sustain injuries, it will amount to your negligence as per rules framed under Employers’ Liability Insurance Act and employees are likely to feel appropriate to sue you, because you are liable.

Workers compensation insurance

On the other hand, workers compensation insurance is a cover for the welfare of the employees. It depends on the circumstances that are the tone of relation between employer and employees. Thus, if you are more concerned about employees’ health and safety, you need to purchase this insurance. It does not matter whether it was your fault or your employees’ fault that resulted illness, accident or death, this insurance comes to your help.

Coverage

Employers’ liability insurance

As an employer, you have to go to court of law if the affected employee sues you. You need to pay financial compensation and bear the hospitalization and medication. ELI covers all these expenses.

Likewise, for employees ELI covers the permanent and temporary disability, injury and wrongful death at workplace. It covers the cost of litigation as well.

Workers compensation insurance

For employers, WCI is a Good Samaritan. In most cases, it ensures that your employees do not resort to litigation. However, in such unfortunate event, WCI covers the expenses because of litigation. It covers the financial expenses to be given to the affected employee for work-related injury, illness or even death.

Employees when inured at workplace, under WCI, are guaranteed to get compensation from the employer to cover medical and hospitalization expenses and certain portion of wages. In most cases, it is two-thirds or more. WCI covers the expenses on litigation, by the employee. In general, WCI takes care of the situation and makes sure that litigation on the part of employees is avoided.

WCI covers compensation (wages) in case of a temporary disability for the period of absence. If the individual got permanent disability, and not fit for employment in current occupation, WCI covers the expenses of vocational training and rehabilitation and cost of searching a job, if he wants.

Despite both ELI and WCI are meant to protect the interests of employees and employers, there are differences in the way they apply. You need to understand them and purchase a cover according to the need of your business.

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The Eviction Process

Obviously, evicting a tenant is not a thrilling part of real estate investing for the tenant or the landlord. What follows is a description of the eviction process itself (especially as it pertains to what can be expected in Ohio), peppered with some of my personal comments with regards to how I typically handle evictions.

Generally, if I’ve not received rent monies from a tenant by the 8th or 9th of the month, I call the tenant. My leases stipulate that the tenant has a grace period until the 5th of the month to mail rent monies without being charged any type of late fee. As long as the envelope is postmarked by the 5th – no late fee. Allowing 3 or 4 days (from the 5th) for a tenant’s payment to arrive is pretty liberal and plenty of time to allow for the monies to be received from cross-town mail.

If upon a call to the tenant I believe we’re going to have problems, I immediately deliver a 3-day notice to the property. A copy of the notice is made before delivering. The 3-day notice is posted (taped) on the front door of the property if the tenant or other occupant is not there when it’s delivered. Any tenant that reaches this point (the starting of the eviction process), is advised that the 3-day notice is simply being posted as a way to protect my interests in the event the tenant doesn’t make good on the outstanding monies due.

Attaching a 3-day notice to the tenant’s door does not negatively affect the tenant’s public record. It’s not until the 3-day is formally filed that it becomes public record. The landlord cannot file for eviction until 3 business days have passed from the point the 3 day-notice was placed on the property. Once the 3 business days are up, the landlord can begin the formal eviction process. How does this start? You will take your paperwork, including a copy of the 3-day notice, and file to have an eviction hearing. I use an attorney to process all of my evictions. Specifically, one specializing in handling evictions. I personally prefer using an attorney that will try to remedy the situation with the tenant before the case is even heard. You don’t have to use an attorney – you can do a lot of this yourself and save a few bucks, but I recommend you use one. If you’ve never been to your local court system to witness eviction hearings, I highly recommend it. You’ll quickly get a flavor of what takes place during these hearings and will know what to expect ahead of time should you ever get to the point of processing an eviction on one of your own properties.

You can expect it take approximately two weeks before your hearing is scheduled. It’s important to note that I always keep the communication line open with the tenant through this whole process. I think this is extremely important. I want the tenant to know that I don’t like going down this path just as much as the tenant doesn’t. It’s not my goal just to boot a tenant out of the property. In fact, I try very hard to work out payment arrangements or even payment assistance resources with the tenant in an effort to get him or her back up on their feet. Yes it may take a little hand-holding and some of your extra time, but I’d say eight out of ten tenants going through this extra hand-holding will appreciate your trying to help and will ultimately clear their overdue balances with you. You walk a very fine line here with the tenant in that he or she may also be taking advantage of you. It can be a tough call. At times it can simply come down to relying on your gut feeling with the situation.

If judgement is taken (in your favor) at the hearing, the judge will give you permission to “red tag” the door. A red tag is just that – it’s bright red and has marked on it the date that possessions will be moved out of the property if the tenant has not vacated. The tenant has five days from tagging to get out of the property. It will usually take 2-3 business days after the court hearing for this tag to get placed on the front door of your property. Again, I keep the tenant abreast of my intentions during this process. You as the landlord call the shots with regards to whether or not any possible set-out occurs. I mention to the tenant that I still do not desire to set property out at the curb, and if payment arrangements can be made, the set-out can be averted. You will again have to make the call here. Do you want to accept only partial payment for what is owed and try to arrange a plan for payment on the extra monies? Or do you feel the tenant is just not going to make it, and in this instance, follow through with the eviction process?

The final step is the dreaded set-out. It’s extremely rare that I ever have to get to this point. If it comes this far, frankly the tenant deserves it. I’ve given them every opportunity within reason to try and remedy the situation or move out on their own accord. If the tenant has not moved out by the date stipulated on the red tag, you as the landlord have the right to order a set-out with the bailiff. Again, an attorney that specializes in evictions really helps here. In Columbus, Ohio, you only have a two hour window Monday-Friday to request and schedule a set-out. Additionally, the set-out must be scheduled within ten days following the red tag, or you have to order a supplemental red tag (more money).

When the set-out is requested (it’s generally a day and time agreed upon by you and the bailiff), you will be expected to have at least four people dedicated to setting furniture and belongings out of the house. You will also be required to have trash bags and boxes to pack items before removing them from the house. Good maintenance workers will be handy to have when you get to this point.

As you can see, evictions can be a rather drawn-out process that generally take a good three to four weeks to run their route. This is why I believe it’s very crucial to always maintain good communication lines with your tenant and try and be as professional as possible in handling the situation. It will be frustrating!…but try and keep an open mind into ways you can help your tenant get through this. A good positive attitude can go a long way to making this process less stressful to both you and the tenant!

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Best Loans For Single Mothers – Learn How to Get Approved Fast

If you are a single mother, you may be among the many single parents who struggle to make ends meet each and every month. Many single mothers have no credit, slow credit, or even bad credit. Many single mothers are young and have not yet had a chance to establish positive credit history. There are different types of loans that you can qualify for as a single mother regardless of you past credit performance and bad credit history.

Personal Loans For Single Mothers

A bad credit personal loan is a loan that allows you to meet any needs that you might have. Perhaps you need money for major purchases like furniture or a computer. Or maybe you want to take a trip, pay for a class, or even buy a car. You can barrow amounts from $ 5oo up to as much as $ 15, ooo when you are applying for this kind of loan. Your personal loan can be ether secured or unsecured. A secured personal loan requires you to pledge collateral.

An unsecured personal loan does not require you to pledge collateral. However most single mothers do not have adequate collateral to pledge, and their only option is the unsecured version of the personal loan. To improve your chances for getting approved in the amount that you need, you can always ask a creditworthy cosigner to apply alongside you. This person can be a parent or other relative, friend, or anyone who will agree to pay your loan payments should you become unable to do so. Many lenders will allow you cosigner to be released from liability of payment once you have paid a certain number of payments on your loan.

Car Loans For Single Mothers

Single mothers who are in need of a new or used vehicle can qualify in most cases for a car loan. Because a car loan is secured by the car itself (or other vehicle), lenders are more lenient when approving car loan applications. A car loan of this type is usually funded for a period of four to seven years, depending upon the purchase price of the vehicle and whether or not you have a down payment. Having a down payment is the best way to purchase a car because it will make your monthly payments lower and easier to manage. Car loans are usually for $ 20,000 or less.

Cash Advance Loans For Single Mothers

Another option is the cash advance loan. This type of loan requires no credit check, making it the easiest to get loan not only for single mothers but for anyone with insufficient credit history. This loan is made for a short period of time, usually a month or less, and typically around the time of your next pay date. The only requirements to receive a cash advance loan is that you have a checking or savings account and a job that allows you to bring home a weekly, bi-weekly or monthly paycheck. Single mothers who receive benefits from Social Security, SSI, or other programs can also qualify for the cash advance loan. Cash advance loan amounts are available in amounts from $ 350 to $ 1,500, and the amount you can borrow will be based on your income.

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Manage Debts the Smarter Way!

Spiraling debts can be a cause of concern for any borrower. They can create an adverse effect on the financial status of the borrower. Wondering how to deal with the troublesome situation? If you are facing financial hardship due to them, it is time to seek help. Debt management might be the solution to all your problems! Read on and find out how …

Know why should you seek this kind of service?

O One affordable monthly payment
O Reduced credit repayments
O The guide to a debt free future

The truth is that credit card debts are usually an outcome of unplanned spending and late repayments. They are the worst debts you would have encountered! You have a number of options to get rid of such problems.

When you opt for solutions with a team of financial experts, the professionals will assess your current financial situation and help you choose options on a spending plan. You can seek help from such experts. They will negotiate terms of your debts with creditors as well! In simple words, they will take care of all kinds of debt problems on your behalf.

There are several ways of managing this kind of problem. To start with, you could avoid credit card usage as much as possible or opt for consolidation finance as a part of the solution. You must begin by trying not to spend too much over your usual balance. This will help you ease your debt worries. Doing so, will ensure that you are on the road to a debt-free life sooner than you had imagined!

Managing payment of credit card bills can be one of the major contributing factors of managing such kind of problem. It saves a large chunk of your money with one single payment every month, well within your reach! It is much simpler to pay just one bill every month. Here, if you are burdened by this kind of problem, you need not put yourself through any more stress! By following this kind of advice, you can manage your financial problems easily. You can also reach out to financial experts who can take care of your financial predicament.

You must consider these kinds of solutions only after a careful analysis of your personal circumstances and constraints! Make sure you make the company aware of your problems. This will only help arrive at a suitable solution.

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The Relationship Between Insurance and Finance

Insurance and finance are closely interwoven fields of business, not least because they both involve money. They also often both involve speculation and risk, and often where one goes, the other will follow. Take property investment for example, it involves a large amount of capital out lay, swiftly followed by insurance to protect the capital investment. It would be ridiculous to spend such a vast sum of money on a venture and not protect it against possible damage. It therefore makes sense to store information on these two subjects together, as the relationship is so logical.

Insurance is a form of risk management used to protect the insured against the risk of a loss. It is defined as the equitable transfer of the risk of a loss from one entity to another in exchange for a premium. There are different kinds of insurance for just about every conceivable event. The most common insurance is probably life insurance, which provides a monetary benefit to a decedent’s family or other designated beneficiary.

It can cover funeral or burial costs and can be paid out to the beneficiary in either a lump sum or as an annuity. Property insurance is one of the more necessary insurances as property is extremely expensive and if it is lost or damaged for some reason (fire, earthquake, flood) it can be very difficult to replace without adequate reimbursement. Travel insurance used to be seen as an unnecessary expense and is still viewed as such by many. Its importance is, however, being increasingly recognised by the public at large. It is cover taken by those who travel abroad and covers certain unforeseen events such as medical expenses, loss of personal belongings, travel delays etc. There are numerous other types of insurance, too many to mention, all vital if you want to protect something of particular importance to you or another.

In the world of finance there are many sub-categories, also too numerous to mention but a few will be included here. Forex, or the foreign exchange market wherever one currency is traded for another. It includes trading between banks, speculators, institutions, corporations, governments, and other financial markets. The average daily trade in the global forex is over US$ 3 trillion.

Tax consulting usually involves CPAs and tax lawyers in addressing any tax issues that you may have. There may also be Professional Strategic Tax Planners and Enrolled Agents, depending on the company that you hire. They will help you reduce your tax debt, eliminate tax penalties, an innocent spouse claim, tax liens, bank levies, and preparing unfilled tax returns, as well as any other tax resolution problem that you might have.

Property investment is usually when an investor buys property with an eye to generate profit and not to occupy it. It is an asset that has been purchased and held for future appreciation, income or portfolio purposes. In some instances an investment property does not have to be held for profit, as some landlords in New York lease office buildings to non-profit organisations for tax purposes. Homeowners consider their homes to be investments but they aren’t classified as investment properties. Perhaps if you’re buying your second or third home, it can be considered an investment property, especially if you plan to rent it out to help pay off the home loan.

Business networking is a marketing method, which is as old as business itself. It’s been around since ever since people learned to hold a glass of whiskey and schmooze. In fact, its probably been around a lot longer, Cro-Magnon man probably gathered around the newly discovered fire and showed each other their collection of animal teeth and traded them. Creating networks of crocodile teeth owners and sabre toothed tiger owners, who tried a take over bid against the sabre toothed leopard owners. Business networking is designed to create business opportunities through social networks. It helps if the people involved are of the same frame of mind.

These days a very handy way of business networking is via the Internet on the various social media available. But it must be said that very little can beat the intimacy and trust created by face-to-face relationships. Also, where would our businessmen be without their whiskeys and weekly schmooze?

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