What Kind and How Much Commercial Insurance Do You Need?

Every business needs commercial insurance of some kind or another, depending on the nature of the business, and in sufficient amounts to protect it from serious, if not fatal, losses and liabilities. Only a serious, thoughtful review of business operations and assets can determine the kinds and amounts of insurance needed for a particular business, though commercial insurance agents should be able to offer some guidance.

In assessing the need for property insurance like commercial building insurance, a business needs to make a thorough review and valuation of its assets. These include real estate, buildings, fixtures, equipment and everything a business owns as tangible property or what accountants term “fixed assets.” The business’s accountants can aid in this review and prevent overlooking assets that otherwise might not occur to the business owner. Once this has been firmly established, then the business needs to weigh the advisability of insuring it for “actual value” or “replacement value.”

A commercial insurance policy for “actual value” means losses to property would only be covered for the actual cost of the property, such as a building or piece of equipment, less depreciation. Insuring the property for “replacement value” would mean the insurance would cover the cost of replacing the loss at current market costs. That is, taking a building as an example, “replacement value” coverage would pay for replacing it at current construction and outfitting costs, whereas “actual value” coverage would only pay for the loss incurred for the original cost of the building less depreciation. The two are very different, have different payouts and carry different price tags, so this issue deserves careful consideration.

Commercial life insurance can cover the lost value of high-producing and valuable employees, and commercial umbrella insurance can provide extra coverage over and above the normal policy amount for only a small incremental cost for additional risk management purposes.

As for liability insurance, other factors require review and consideration. The areas of activity the business is engaged in, and their attendant potential liabilities, need to be assessed. The business owner needs to weigh potential losses that might be incurred through accidents or oversights resulting from the conduct of the business itself. In which areas is the business open to customer or client lawsuits? Which circumstances or activities could result in injury or loss to third parties on the premises of the business or through the conduct of its business operations? These would be quite different for a physician than for an air conditioning/heating repair service, to use just one example.

Again, an experienced, well informed commercial insurance agent can provide invaluable input and advice in these matters. He or she can often identify areas of the business that might not be included in customary policies and which may require special riders to fully protect a business from huge potential losses which the owner, and even the accountant, may miss. Also a good commercial insurance agent can help in finding the most economical coverage for a particular type of insurance important to the business.

Term Life Insurance Plans – What You Can Expect

In your efforts to seek the best life insurance plan for your family’s needs, you have probably come across a few term life insurance plans.

Here are a few things you can expect from most of the term life plans being offered these days.

First off, term life insurance is different from permanent. Primarily, it is only good for a certain period of time or a “term”; generally the term is from one year to thirty years.

All term life insurance plans must be renewed at the end of each term and the policy carries no actual cash value.

The death benefit reverts to the beneficiary, which pays a specified amount in the event of the death of the insured, in accordance with the particular plan.

With term life one of the main bonuses you can look forward to is the large quantity of affordable plans available, so you’re bound to find a plan that is ideal for your needs, although you should expect to shop around.

In fact get a number of quotes. As long as you “mix it up” and do your due diligence, you will certainly find the right plan for you. So always shop around and evaluate all of the info with care.

Be Sure To Get Multiple Quotes

If you go online, you’ll notice a bunch of articles that you can read that will answer some of your questions and fill in some-of- the blanks.

Also the insurance companies online “quote section” can help explain to you further how to get the process started.

It’s actually fairly easy to find affordable term life insurance plans and you’ll be pleasantly surprised at some of the low quotes you’ll see, especially when you compare it to some of the whole life quotes you’ll see that have costly monthly premiums that can be quite shocking at times!

After Hard Times A Bankruptcy Car Loan Can Be Your Best Ally

After hard times, a bankruptcy car loan can be your best ally. The quickest way to rebuild your credit score is by committing to an auto loan and making the payments in a responsible way.

A bankruptcy car loan can be the key factor in that fresh new start toward rebuilding your credit. In this article we will talk about the best way to use a car loan after bankruptcy as an answer to establishing your new financial future.

Use the Internet to find local auto dealers or an auto consultant, if you don’t know of any, who will offer you special financing for a bankruptcy car loan. Not all dealers offer this service.

Visit a couple of these special financing dealerships and determine if it feels like a good fit for you. By asking a few questions you will get a feel of the type of people you will be working with. You want to work with someone who listens to you and helps you meet your needs and wants.

One source that most people don’t think about for special financing is to look for an auto consultant that offers these services. Usually an auto consultant (not an auto salesman) is more willing to work with you and will listen to you instead of just trying to sell you a car today.

Bankruptcy can be emotionally tough on anyone. The dealership should treat you will compassion and understanding. They should appear eager and willing to help you just as they would help someone with a perfect credit score. Finding a special financing dealership that treats you with dignity will help give you peace of mind that they will get you the best deal possible.

Next, decide on a used car that suits your family’s needs. Look for a car that has lower mileage and has been safety inspected and has a good history report. Take the car for a drive and see how it feels to you.

Before signing on the dotted line you want to make sure you can make the monthly payments easily each month. Take a look at your monthly income and be sure you have enough money every month for the payment, insurance and maintenance on the car.

Once you are confident that the bankruptcy car loan will work with the rest of your monthly bills, you are ready to sign the papers and move forward with your purchase.

As you drive your new used car off the parking lot know that getting a bankruptcy car loan is the greatest step you can take to rebuilding your financial future. Be sure and make all your payments on time, as this is one of the quickest ways to help rebuild your credit.