Are You Covered by Insurance in a Road Rage Incident?

In a perfect world, every auto driver would operate his or her vehicle responsibly without the need to worry about the next car's inappropriate or dangerous driving. Unfortunately, life is far from perfect and the roads can be an extremely perilous place for everyone that shares it. Fortunately, there is insurance that protects us from the very real likelihood of accident occurrence.

Road rage is the term used for people who get behind the wheel when they are angry or upset and drive in an aggressive manner, venting their frustrations where they should not be vented, causing mayhem, disorder, fear and damages.

For the driver that fits into this category, insurance will not protect them from an ensuing claim or lawsuit. Insurance companies have designed their policies so that coverage is there for liability in the event an unintentional mishap occurs. In the case of road rage, the lack of proper driving etiquette is a deliberate act and the industry will not compensate for losses.

Logic, of course, is in favor of this. What about the victim of road rage, though? Does auto or truck insurance cover the victim?

While the 'mad driver' is legally liable for all damages, there are methods to utilize to ensure you will be covered as you should be. The industry provides the following options to all plans that give you the additional protection you may need from road rage perils.

Auto insurance with included comprehensive coverage, as well as collision coverage will benefit the innocent victim from vehicle or personal damage, injury or even death.
When all is said and done, however, every responsible driver – no matter how much coverage he or she has – does not want to be involved in a road rage event. So, how does the 'average Joe / Jane' protect him or herself from being victimized? The following will provide guidance:

1. Don't respond to any provocation. Giving tit for tat may only serve to increase the perpetuator's aggressiveness.
2. Allow the other driver room to pass.
3. Shut and lock all car windows; lock the doors.
4. Attempt to speed away.
5. Commit the road rager's license number to memory and report it to authorities when you get home or out of your accoster's way.

Being prepared is the best way to get out of a bad situation. For more information about road rage coverage and prevention, speak to an experienced, independent agent that serves the broader community with all forms of auto, home, business, life insurance and more.

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Glossary Of Consumer Finance Terms

A guide to many of the terms used in the consumer finance market.

A

Acceptance Rate – The percentage of customers that are successful when applying for a loan or credit card. 66% or more applicants must be offered the advertised rate know as the Typical APR (See 'Typical APR' below).

Annual Percentage Rate (APR) – The rate of interest payable annually on the loan or credit card balance. This allows potential customers to compare lenders. Under the Consumer Credit Act Lenders are legally required to disclose their APR.

Arrears – Missed payments on a loan, credit card, mortgage or most kinds of debt are termed Arrears. The borrower has a legally binding obligation to settle any arrears as soon as possible.

Arrangement Fee – Generally for the administration costs of setting up a mortgage.

B

Base Rate – The interest rate set by the Bank of England. This is the rate charged to banks for lending from the Bank of England. The base rate and how it may change in the future has a direct influence on the interest rate a bank may charge the consumer on a loan or mortgage.

Business Loans – A loan specifically for a business and generally based on the businesses past and likely future performance.

C

Car Loan – A loan specifically for the purchase of a car.

Consumer Credit Association (CCA) – Repeats most businesses in the consumer credit industry. Government, local authorities, financial bodies, finance focused media and consumer groups are all members. Members sign a constitution and must follow a code of practice and business conduct.

County Court Judgment (CCJ) – A CCJ can be issued by a County Court to an individual that has failed to settle outstanding debts. A CCJ will adversely affect the credit record of an individual and can possibly result in them being refused credit. A CCJ will stay on a credit record for 6 years. It is possible to avoid this major negative stain on your credit record by settling the CCJ in full within one month of receiving it, in this case no details of the CCJ will be stored on your credit record.

Credit Crunch – A situation where Lenders cut back on their lending simultaneously usually down to a shared fear that borrowers will not be able to repay their debts.

Credit File – Information stored by credit reference agencies, such as Experian, Equifax and CallCredit, on an individuals credit and borrowing arrangements. The Credit File is checked when Lenders consider a credit application.

Credit Reference Agencies – Companies that keep records of individuals credit and borrowing arrangements, amounts owed, with who and payments made, including any defaults, CCJ's, arrears etc.

Credit Search – The general search undertaken by the Lender with the credit reference agencies.

D

Debt C0nsolidation – The transfer of multiple debts to a single debt via a loan or credit card.

Default – When a regular debt repayment is missed. A default will be recorded on an …

Understanding Your Homeowners Insurance Policy

Homeowners insurance is a policy that protects homeowners from financial liability resulting from damage caused to or on their property. There are several types of insurance policies with different options that protect owners from risk.

Insurance policies cover many risks such as: (1) lightning, (2) theft, (3) vandalism, and (4) falling objects in storms. Other potential issues such as: (1) explosions, (2) civil unrest, (3) falling objects, (3) vehicles, (4) smoke damage, (5) weight of ice snow or sleet, (6) freezing, ( 7) heating and air-conditioning (8) fire protection systems, (9) appliances, (10) fences, and (11) other dwellings, may be covered under your insurance policy. Standard insurance policies also cover damage from snow and damage to electrical and plumbing systems. Most insurance policies provide a $ 100,000 per person / $ 300,000 total per incident liability coverage. There are some surprising items covered under a standard homeowners insurance policy which include other household members' property, such as a children (s) property. For instance, if you have a child in college who lives on campus their personal possessions would be covered under their parent (s) 'insurance policy.

There are three different levels of homeowners insurance that can be purchased. The different levels of insurance include: (1) on actual cash value, (2) replacement costs, and (3) guaranteed replacement costs. The actual cash value coverage provides owners with payments to replace homes or covered belongings at their current depreciated value. Whereas, replacement coverage pays for the cost of fixing or replacing possessions, and guaranteed replacement coverage pays for the complete rebuilding of the house (no matter the cost). There is also extended coverage which pays for up to a percentage of the policies covered limit.

The benefits of purchasing homeowners insurance include transferring financial risk from the homeowner to the insurance company. Homeowners insurance will also pay the medical expenses of third parties who are injured on your property. Homeowners insurance can be expensive, but there are ways to reduce the cost. The first and easiest way to reduce your annual expense is to increase your deductible; You can also reduce the annual cost of your insurance by installing a security system. It should also be noted that non-smokers on average pay less for homeowners insurance than smokers.

There are many things that standard insurance policies do not cover; These include damage caused by floods, earthquakes, and hurricanes. Although, these uncovered risks could be covered under a different insurance policy. Also, it is highly suggested for homeowners to add sewer backup as a protection endorsement. This endorsement is relatively inexpensive and would cover sewer backup into a home which would cover damage to floors, walls, furniture, and electrical systems. In addition to homeowners insurance covering your dwelling, it also covers other buildings on the property, landscaping, damage or loss to your personal property, and belongings. Your policy should also cover any temporary living expenses you may have if you or your home is damaged, in addition to covering anyone else injured on your …

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 types 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 considered recognized 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 …

Commercial General Liability Insurance Policy

Business owners work extremely hard to operate, and need protection from unexpected accidents or liabilities, which could otherwise put them out of business. Commercial general liability insurance, or CGL, has been designed to keep business assets and resources protected and secured should a claim arise.

Overview

Commercial General Liability (CGL) insurance policies are a very important protection for policyholders, broadly providing defense and indemnity coverage against claims for bodily injury and property damage. CGL policies typically are written on standard policy forms developed by nationwide insurance industry organizations.

Significance of Commercial Liability Insurance

Operating a business in a litigious society like we have, greatly increases the chances of a potential claim or lawsuit. It is important for business owners to know they have protection, so they can focus on running their business.

A CGL policy takes the responsibility of covering the injury costs for you and your employees, as well as covering your legal defense cost and settlement.

The most common coverage items are listed below:

Lawsuits
Investigations
Settlements
Injury damages
Punitive damages
Non-monetary damages
Compensatory damages
Losses on rental property
Claims against misleading advertisement
Claims against copyright infringements

If you are wondering how you will determine your coverage needs, it depends upon the nature of your business, its location, and the perceived risk by the business. For example, you need more coverage if you are a building contractor in contrast with the consultant or a web designer. This is because both the businesses have different natures and level of perceived risks.

The benefits of a CGL Policy

Insurance companies understand about you and your company. They view the in depth details of your business including quality control, safety standards, and risk management.

Bodily injury coverage helps in protecting you or the injured party if caused by your business operations.

Personal injury coverage aids in securing you from libel, slander, false arrest and wrongful entry.

Advertising injury compensation covers your legal liability for a wide range of offenses owing to the advertising of your business' services and goods.

The importance or requirements of a CGL policy for a business owner can't be stressed enough. Without any or adequate protection a business owner may face a crippling claim at any time, and this level of uncertainty will make running a business nearly impossible. With the importance of protection adequately understood, insuring an adequate level of level of coverage is the secondary concern. With the help of a qualified agent / broker, business owners can get the coverage and peace of mind to focus on operating.

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Trade Finance As A Business Development Strategy

Without trade finance, there wouldn't be Indian spices, clothes, or jewelry in the United States. Or Apple's iPhones in China, much less any other international product at any respectable distance from its origin.

In fact, according to Investopedia, the World Trade Organization (WTO) estimates that international world trade has expanded 80% -90% thanks to trade finance.

For this to continue, companies need to include trade finance in their business development strategies.

How do you do that? Learn how you can incorporate trade finance into your business development strategy.

Incorporate Inland Trade Finance in Market Penetration and Market Development

Market penetration and market development are key parts of a business development strategy. Market development involves selling more of your service or product to repeat customers.

While market penetration is about expanding your product or service to other cities and provinces, it can involve inland trade finance. As you may have to renegotiate local and provincial trade deals.

For instance, let's say you sell jewelry. A business from a neighboring city may purchase your jewelry and sell it to its customers.

You have a long history with this client. And know that your product is selling quickly in your customers' shop. In which case, you could propose selling the client more jewelry for a bulk price.

After negotiating, the client agrees. However, despite the long, positive history you've had with the client, the client may not feel comfortable paying you before you export the jewelry.

This is where a trade financier or banking institution comes in, providing a letter of credit promising that you will export the jewelry upon payment.

Consider the Internet and Brick-and-Mortar Stores

If you're already selling more of your product or service to clients, perhaps it's time to branch out to another channel such as the Internet?

If you run a successful e-commerce store, maybe it's time to start a brick-and-mortar store as well?

That way, your customers have more options where to buy your products.

Especially when it comes to brick-and-mortar stores, trade finance can help you secure new import and export trade deals-especially when there are multiple currencies involved.

Creating a New Product or Service for Repeat and New Customers

With repeat customers, you're doubling the number of products the repeat client is importing.

And, with new clients, your new product or service will expand your client base. It's important that you first create new products for your repeat customers before jumping to new customers, as it involves more risk.

Again, trade finance can help cultivate more trust during this period of growth. Since trade financiers or banking institutions can create letters of credit, laying out the terms the importer and exporters must follow.

Final Thoughts About Your Business Development Strategy

Know that growth doesn't happen in a day; It's harder for businesses to jump from market penetration to supplying new products to new clients.

This is why we recommend that you approach growth slowly. However, know that trade finance may help increase the number of …

How to Choose the Best Vision Insurance Plan!

Vision insurance is a form of insurance that provides coverage for the services rendered by eye care professionals such as ophthalmologists and optometrists etc. According to an estimate, almost 50% of Americans suffer from eye sight problems and have to wear the prescribed contact lenses or eye glasses. Vision insurance plans offer great deal to help you with the costs of your contacts, glasses and eye checkup.

An eye Insurance plan is different from the regular health insurances. Eye Insurance plan is designed to help you covering cost of eye checkups and medication by offering partial of full cost of checkup services. There are many vision insurance companies, however in a broad sense Vision insurance plans can be divided into two categories:

A Vision Benefits Package covers all services rendered by eye care professionals. The benefit package pays the balance on your behalf but at times you might have to pay a co-payment for the purchase of your contacts or glasses.

On the other hand a Vision Discount Plan provides eye checkup and other vision services at discounted rates. The discount plan provides you with a list of providers who are covered by your insurance company.

If you have vision problems then it is wise to opt for the Vision Insurance Plan. Eye glasses alone costs around $ 200 which helplessly we lose of break sooner or later. Vision Plan can reduce the cost by 50%. It also offers a variety of packages which cover your entire family. Especially if the children in your family are also suffering from eye sight problems, it is better to subscribe to a reasonable package with a good insurance company. With children it becomes specially important since they tend to lose or break their glasses more often and constant fixing.

Vision Insurance Plan with a good company will provide you with the quality service. Companies offer a wide range of plans suitable for a variety of customers. Carefully review the benefits offered by the company in each package. You should consider how often you would have to get an eye exam and how many pair of eye glasses or contact lenses you may need yearly or half yearly. It will help you to decide which package is more suitable for your needs, so you can derive maximum benefits. You can conduct some research online, in order to find the best Vision Insurance plan for your requirements and within your budget.

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How to Mess Up Your Personal Statement for Graduate Or Professional School Applications

When you applied as an undergraduate, your personal statement probably did not make much of a difference, because undergraduate admissions are heavily based on numbers (GPAs, test scores, etc). Graduate and professional school admissions are different! Your competitors will have grades and test scores similar to yours, because most people who have the motivation to pursue an advanced degree did well as undergraduate students. As the number of applicants rises and academic budgets are cut, every year there's more competition for fewer admissions openings.

How does the committee determine that you have what it takes to succeed in advanced studies? You guessed it. Your personal statement will play a determining role in whether or not your application is successful.

So you know you need to write the strongest, most persuasive personal statement you can. But here are two facts you may not know. First, most reviewers will spend only a couple minutes skimming your personal statement. Second, because their job is to weed out the majority of applications, reviewers are looking for reasons not to recommend you for admission.

Avoid common mistakes that will get your application put in the reject pile. Read on for 10 simple ways you can mess up your personal statement:

1. Say thank you

Your parents and elementary school teachers taught you to be polite in writing, and you know it's a good rule to follow. But don't waste words thanking the committee for reading your application. It's not the same situation as applying for a job, because you're paying the school to review your application so that, hopefully, you can pay them to educate and train you. Starting or ending your statement with phrases like 'Thank you for reviewing this application' or 'I appreciate your consideration' can make you come across as immature, obsequious, or ignorant of academic culture.

2. Make excuses

Lots of applicants have weaknesses in their application files, especially in their transcripts. Maybe you got low grades your freshman year. Maybe you had to leave school and work for a while. Maybe you got an F in that statistics class and had to retake it. Or maybe you got a degree in one field and are applying to grad school in a different field; or you did not pass your medical residency exams the first time.

Whatever your weakness is, do not offer excuses and do not bad-mouth anyone. So it was not your fault that the professor lost your final exam and flunked you, or jobs dried up in your original field of study, or you had the flu when you took the GRE. Don't say anything that sounds like an excuse or sounds like you are blaming someone else for you failing to achieve a goal. Even when it is true, it may make you seem whiny and unable to accept responsibility for your actions. Instead, address the weakness at the end of your statement, and explain how you have overcome it, learned from it, and are a better …

Canadian's Personal Finances Fiscal Cliff: Are We There Yet?

Today we hear much talk about the USA's economy approaching the so-called "fiscal cliff." What about your personal financial affairs? Are you at the fiscal cliff as we inch toward 2013? Canadians are swamped in debt. Monthly, we read about the rising debt-to-disposable income ratio that stands now at around the precarious 164% level.

Despite the world and many at home commend our government for its brilliant fiscal management, few warn about the unsustainable personal debt levels. Indeed, our central bank chief, Mark Carney, accepted an appointment to a similar role at the prestigious Bank of England. Will his legacy here be that of hero or villain? Will history show that he held interest rates low for too long, encouraging many folks to take on debt they cannot afford?

To his credit, he, our finance minister, and prime minister have been warning Canadians about these dangerously high personal debt levels. However, Carney could curtail the rise by raising interest rates. Sure, higher rates will dampen current slow economic growth. Even so, I think short-term pain is better than the likely personal finances' crash that might happen if debt remains at present levels, or grows.

What can Canadians do to avoid their fiscal cliff? Let us examine three vital steps.

  1. Accept you are dangerously leveraged.
  2. Set a mechanism in place to live with declining debt
  3. Develop a new vocabulary to guide your behavior

Accept You Are Dangerously Leveraged

You can't solve a problem unless you recognize it. Do you think you are carrying too much debt? Your banker might tell you no; However, you alone can answer this. Take a helicopter view. What are you and your family's emotional responses to your debt? Are you worried? Can't sleep? If yes, you have too much debt. Certainly, look at ratios, but this is the key barometer.

The emotional cost of debt is the first and the most significant cost. If debt is 10% of income, and is causing problems for you or at least one in your family, it is too much. Still, you must accept reality and decide to live with it, take on no more, and start a debt free lifestyle.

If you are a Christian, give this emotional stress to Jesus (Matthew 11:28).

Set A Mechanism In Place To Live With Declining Debt

People are impatient. We live in a now society. Sadly, probably you got into debt over a long period, and it is likely you will get out over an extended time. Accept this fact and learn to live with it.

Develop a strategy to live in your debt. Look at how you got there; draft principles to prevent a recurrence; and then write a financial plan – alone or with help. The plan should show concisely how, by following your principles, you might be debt free in a specific time.

If you got into debt by impulsive spending, you might develop a principle never to buy without a list and a budget. As well, when you …

6 Daily Tasks of Successful Insurance Agents

There is always a price for success in any business venture. Insurance selling is without exception. The price for success is to do things you are not comfortable with. You may experience pain by stretching yourself. You may need to make sacrifices in exchange for the success you want.

Successful insurance agents are aware of the price for success. They know the success of their business relies on their own efforts. They know they need a good work habit to assure their business success.

Highly successful agents organize their efforts and religiously execute their business activities on a daily basis. The following are the 6 daily tasks highly effective insurance agents do:

(a) Planning

Top performing agents can multi-task. They are very good at planning their day. They write the game plan. List out the tasks they want to accomplish. Get started and stay busy with the tasks they assign to themselves.

They are able to identify tasks that give them the highest payoff and maximize activities that support their sales results. They structure their days in such a manner that they get the most out of every hour spent.

(b) Make appointment

The only reason why we do not have any appointment is because we did not make any in advance. We reap what we sow. If we don't make appointment, we have zero appointment.

To top producers, making appointment is a continuous effort. Telephone call is insurance agents' first contact with their potential customers. Knowing how to interact with prospects over the telephone can make a difference when meeting with them face to face.

They may have called many people, yet they can still remain fresh and enthusiastic. They know they have only once chance to create the first good impression. They do not manufacture enthusiasm, they are genuinely excited when talking to people over the phone.

(c) Face to face with customers

Insurance agents are always put to tests when meeting with their prospects. A number of skill sets are being evaluated when they are up close and personal with their prospects. Doing homework is a must prior to meeting with the customers.

Their ability to build trust with prospects, their tactfulness to move from one phase of the sales process to another, their creative way to arouse interest, their attention to details when listening to customers' concerns, their problem solving skills etc are all always scrutinized by their customers.

To high flying agents, the biggest contributor to success will be the amount of time they spend communicating with customers face to face. It is important for them to be in front of their prospects as often as they can.

(d) Getting referral

Top producing agents always have their pipelines filled with referrals. They always have someone else to see at the end of every appointment. To them, getting referrals is not a nice-to-do but a must-do daily task. That explains why they never run out of prospects.

To earn referrals, they make sure they do fantastic …