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Insurance

Advantages of Renewing Two-wheeler Insurance

Insurance is a necessary expense that can lower your financial burden at the time of a crisis. In India, it is mandatory by law to have an insurance for your vehicle. Due to the advent of technology, you can renew your two-wheeler insurance in 2018 effortlessly. Most of the insurance companies will provide an option on their website to pay insurance premium instantly.

The advantages of renewing your comprehensive two-wheeler insurance on time or in advance include:

a) Safety Net

If you meet with an accident, the comprehensive insurance policy will cover all the damages caused to the vehicle and your medical expenses as well.

b) Protection Against Natural Calamities

A natural calamity cannot be predicted. Similarly, you cannot predict if the natural calamity will affect your two-wheeler. If this happens, the insurance company will pay for the damages caused to your vehicle.

c) Protection Against Man-made Calamities

If there is a burglary at your residence, office, or parking lot, and your two-wheeler is stolen, the insurance company will provide compensation for the same.

Tips on Renewal of Your Insurance Plan

At the time of purchasing your vehicle, you might go with the comprehensive two-wheeler insurance plan suggested by the salesman at the two-wheeler showroom. Due to this, you might end up paying an exorbitant insurance premium which consists of various add-ons that you wouldn’t require. There are a few ways in which you can save on your comprehensive two wheeler insurance premium. These are:

a) Comparison

It is necessary to compare the various comprehensive two-wheeler insurance policies available in the market before you renew your two-wheeler insurance this year. A comprehensive comparison of all features offered by different insurance companies is available on Coverfox.com. You can select the insurance policy that suits you the most after the comparison.

b) No Claim Bonus (NCB)

This is a vital bonus you can obtain while renewing your insurance if you didn’t file a claim in the previous insured year or consecutive years. In most insurance policies, the percentage of NCB increases each year. You can get a discount of 20% to 50% based on the insurance company’s policies.

c) Add-on

Every insurance company provides add-ons with its comprehensive insurance policies. These include zero depreciation cover, key replacement, personal accident cover, accessories cover, consumables cover, etc. Choose the add-on which you think is absolutely necessary and opt out of the rest.

d) Insured Declared Value (IDV)

In case of a burglary or a major accident, the insurance company will compensate for your losses based on the current market value of the two-wheeler. This value is known as IDV (Insured Declared Value). You need to be aware of the IDV when you renew your two-wheeler insurance in India. It is advisable to opt for the insurance policy that provides the highest IDV if the remaining features of that insurance policy are also feasible for you.

Disadvantages of Not Renewing Your Insurance Cover

Although there are many advantages of renewing your two wheeler insurance on time, there are various disadvantages of not doing so as well. These are:

a) Late Fee

Most insurance companies charge a late fee if you do not pay your insurance premium on time. This fee is an unnecessary expense which can be avoided if you pay your insurance premium before the deadline.

b) Legal Aspects

In India, it is compulsory to have insurance for your two-wheeler. If you have an expired insurance, you will end up paying an exorbitant fine when the traffic cops conduct a routine check.

c) Third Party Liability

When you meet with an accident and your insurance policy is not updated, you’re liable to pay for the damages caused to the other party involved in the accident. You will have to spend your hard earned savings to settle such cases.

A Skillful Rider

Owning a two-wheeler is not sufficient. You need to abide by all the traffic rules and ensure that your vehicle has valid insurance. This way, in case of a mishap, all financial expenses will be taken care of. You can also opt for an add-on which ensures only original two-wheeler parts are replaced in such incidents. Make a smart decision and follow the given tips to ensure that you get the best available deal when you renew your two-wheeler insurance.

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Insurance

Best Tips for a Business Insurance Renewal

A Business insurance renewal is an important part of due diligence and ensuring that your company is not at risk for loss or damages. All types of insurance policies will rise annually; it is simply how the industry works. If you do not pay careful attention to your professional coverage including the expenses involved, you could be paying higher fees than necessary. Rather than automatically update your insurance, consult with a professional team of experienced online insurance providers. Experts in business cover can help assess current company requirements and recommend modifications to policies. Understanding the need for flexible cover solutions and managing the costs will help find the coverage with value and a high standard of protection. Avoid a lapse in insurance and find protection that is cost effective with an online insurance comparison service.

The first step to business renewal is to obtain more than one insurance quote. Comparing the nature of cover and insurance available supports valuable estimates. Multiple quotations obtained before your insurance policy expires can help the business prepare for the change in coverage or the provider. Planning ahead can prevent lack of protection and ensure that the company is properly covered should unforeseen events occur.

Businesses are subject to many potential threats in its internal and external environment. Theft, asset damage, late customer payments and economic conditions all influence the normal productivity of an organization. When a disaster strikes or accidents occur and your company not prepared, it can cost an exorbitant amount of money that many firms cannot recover from. These devastating circumstances are best prevented with the right standard of professional insurance. An online market intermediary specializes in business renewals can help determine the nature of current cover and advise on upgrades in accordance with the changing needs of an enterprise. Businesses need adaptability and insurance plans that are flexible enough to meet with growing professional requirements. Insurance solutions are provided online making it easier to obtain the right options for coverage.

To learn the value of your business, a complete professional evaluation needs to be performed. Receiving updated information concerning the value of assets, risk factors, cash flow and operational expenses will determine accurate values for insurance protection. Looking at insurance renewals for your business must be based on a complete assessment. A failure to consider changes within the business and incorporating this within an insurance policy could spell professional disaster. The purpose of performing a business renewal for updated insurance is to ensure that policies are up to date and to modify the needs of the company along with its cover.

Comparisons of business insurance policies online is the most effective way to find insurance. Professional cover must make sense and sought from reputable industry providers. Comparing multiple quotes based on a company valuation helps determine which quotation is affordable and provides the right type of coverage. Investing in the proper insurance renewals will best protect the growth and development of a business brand.

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Insurance

4 wheeler insurance claim: 4 Scenarios and the process of Claim

Having a car is a huge responsibility which is why insurance is mandatory for every vehicle. However, not many are aware of how to apply for the claim when it is needed. Here are four scenarios where a claim needs to be made and how to make it easily.

Motor insurance has always been one of the essential documents to have when you own a vehicle. With cars being the most popular form of transport in the country, car insurance is mandatory for everyone who owns it. Car insurance helps save and cover costs in case of an accident and injury that might or might not have been caused by you.

Four-wheeler insurance normally comes with policies that cover you in the case of an accident where you are injured or if you have to pay someone else for causing them harm. Claiming this insurance is not as difficult as it might look:

  • Own damage

In case you have been injured, or your car has been damaged due to an accident, you do not have to worry about the expenses. This is why car insurance is important. The first thing to do when applying for a claim on 4 wheeler insurance is to call your insurance company as soon as the accident occurs. This will enable them to send a surveyor to come along and check the damage when the police arrive too.

Remember, you cannot remove the car from the accident spot without the approval from the police and the insurance surveyor! After you send the car for repairs, you can either get an estimate or forward the same to the insurer for a pay-out or the insurance company will directly pay the repair shop for the charges incurred.

  • Theft claim

While it is common to check the coverage for damage and personal claims, people tend to overlook the theft claim. When it comes to theft of your four wheeler, you need to inform the police, file an FIR and inform your insurance company immediately.

Make sure that you read the claim documents carefully and keep the necessary paperwork ready along with the claim form fully filled, in case you are unable to get your vehicle back.

Many car insurance companies request for your vehicle’s original keys when submitting the form so don’t be surprised!

  • Third Party claim

In case you cause an accident, it is imperative that you cover the costs of the party that you harmed. In this case, your insurance company and the police should be involved in the procedure, and the third party’s injury and damage expenses should be covered by your Insurance Company.

3A. If you are the third party

If you have been injured and face damages due to a third party, you definitely need to be compensated for the same. To file a claim, you simply need to take down their insurance details and call their insurer and inform them about the accident. Do not forget to file a FIR with the police as well!

  • Voluntary Deductibles

If you are looking to split the amount to pay for your four-wheeler, this will help to reduce your premiums as well. So if you increase your deductibles, you can easily apply for a partial insurance claim in case of any accident and split the bill with the car insurance company.

Four wheeler insurance is no joke, and it definitely shouldn’t be treated as one. Having the right knowledge about them and the way to claim your insurance when needed will surely save you a lot of money in the long run.

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Insurance

Some facts about Driving under Influence [DUI]

The generation has been changed and so the people. Today, everyone has started doing the illegal things such as fraud, breaking the rules and much more. The economic downfall has been changed the people’s mindset and for living people would do anything. As we know the culture has been changed and people are busy with their own work and responsibilities towards life. They have no time to think that what they are doing is right or wrong. In the www.celinedostaler.ca you will get to see many case stories which are more of the DUI cases. The impaired driving has been increased a lot from a couple of years.

According to the criminal lawyers in ottawa, there are many cases which are on the teenagers. The drink and drive has become a fashion among the youth and they do not think its effects on their life. Seriously, they can be messed up with criminal charges or can also face an accident, which could be a disaster. Here are some facts which should be known about the driving under the influence which we would discuss below in some points.

  1. For every hour, someone has been facing an accident and killed in a drunk and drive case. Which means around 25-30 people a day. It’s something very uncommon, but people seriously doesn’t think that they are being snatched someone’s precious life. According to the criminal lawyers ottawa there are people who are having many illegal cases, though they ride in an impaired condition.
  2. On an average count a person would drive in an impaired condition for about 70 times until he/ she have been arrested. These days the women are also being arrested in the case of drunk and drive. The alcohol consumption has been increased in a wide range over the years.
  3. The impaired condition doesn’t require that the person is driving in an alcoholic state, but it can be also the case of drug intake. According to the criminal lawyers in ottawa, in some cases, if the blood alcoholic rate is more then also the person can be charged for the DUI. The blood alcoholic rate can also be increased due to some food items which have the alcohol in it.
  4. About 70% people drive in the impaired condition even when their license has been acquired by the police. Once anyone has been caught for the drunk driving case, then for the long period of time their license would be in legal custody and also the cops would have an eye on them.
  5. The teenagers and kids who get evolved in this DUI case would probably face this problem for more 7 times in their lifetime. The criminal lawyers ottawa state that once anyone is acquired with the criminal charge, then it’s difficult to get rid of it easily.

It’s known that taking a cold shower, a coffee, eating curd etc would help to make a person more sober. In case one is consumed the alcohol, then do use these things for being stable while driving. It would be better if everyone avoids the impaired driving in sake for many lives.

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Insurance

The Main Facts You should Remember if You’ve had a Burn Injury in the Workplace

Burns happen more often than we realise – in fact, often they go unreported or underestimated and the true consequences are only felt when it’s too late to act. Burns are not only caused by hot surfaces, but are often a result of electrical mishaps (short-circuits, electrocution), friction (road accidents or recurring movement), chemicals, or even very cold surfaces. It’s important that the burns are recognised and recorded immediately, so legal liability can be established right away. If you have ever been a victim of a burn in the workplace, you have certain rights, after all. Here are the main facts you should remember if you’ve had a burn injury in the workplace.

Common accidents

Although different workplaces offer and present different risks, factory workers or employees that are confronted with dangerous chemicals or electrical works (such as in workshops or laboratories) are usually at a higher degree of risk. Following is a short list of common accidents:

  • Workplace fires – due to heat sources, chemicals, or electrical faults
  • Electrical burns
  • Inhalation of toxic fumes resulting in the burning of lungs and other parts of the body
  • Contact with hot machinery
  • Thermal burns using extremely hot or extremely cold equipment and tools
  • Radiation

The effects of the incident

The effects are not just a matter of immediate pain and suffering to the victim – they also result in consequences often unforeseen. Here’s a short list:

  • Burns can lead to infections that affect other parts of the body
  • Burns can lead to permanent disfigurement
  • Burns can lead to severe damage to the skin and nerves
  • Burns can lead to long-lasting emotional and psychological suffering

What you can do

That the injury happens is bad enough, but it’s important you take the correct steps immediately:

  • Immediately report the incident and the burn
  • Immediately seek medical advice and treatment
  • Obtain evidence in the form of reports, photographs, etc, of the burns and the circumstances
  • Record the names of witnesses and other information that help you establish the facts
  • Keep track of any expenses incurred

Don’t forget that the compensation for burns at work you may have right to is not only measured in harm caused physically (medically) or psychologically (or emotionally). Those are the kind of measurements that are difficult to judge and quantify. However, you should keep a list of all expenses you incur due to the injury (this includes extra needs for transportation, medicine, loss of work, loss of vacation, and so on) – these kind of financial issues are much easier to calculate and should be recorded meticulously. If ever you have been a victim, never hesitate. Keep accurate records and make sure you seek legal advice to claim compensation.

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Insurance

Understanding Audit Protection Insurance

Corporate entities and publicly listed companies are required by law to publish their accounts at least once a year. Every company has a fiscal year-end where it is required to publish its financial statements for investors to go through. This maintains transparency between the investors and the directors of the company, who are basically agents. However, a conflict of interest arises because the investors will obviously not check everything on the financial statements. The directors have the chance to falsify the figures and statements and make it seem that the company is doing much better than it really is.

This is why companies are subjected to external audits. External auditors generally check all material figures on the financial statements, using a variety of analytical techniques and substantive procedures. Auditors are required to check everything before compiling an audit report.

The audit report expresses an opinion on the financial statements and confirms whether the figures quoted in the financial statements are correct. However, audits cost a lot of money, and often run for several months. Audits are statutory requirements, and the government might require the company to hire an external auditor in order to investigate certain contentious figures in the financial statements pertaining to the tax calculations.

Why Purchase Insurance?

Growing companies generally come under a lot of scrutiny. The tax authorities might require you to get the accounts audited again. Companies such as Accountancy Insurance offer audit protection insurance, with more than 2,500 firms across Australia and New Zealand having purchased the insurance policy.

An audit insurance policy basically covers all expenditures pertaining to any official enquiry or investigation that’s carried out by the authorities. In growing companies, this is a major concern. For instance, if the tax authorities don’t agree with the figures in the statements and feel that they are falsified, they might ask you to hire an external auditor to give an opinion on the financial statements. This could derail your company’s profit estimations completely, making it difficult for you to attract investors. However, if you have audit protection insurance from a reputable firm such as Accountancy Insurance, you don’t have to worry about a lot. The company will foot the costs of any expenditures pertaining to the enquiries and investigations.

Buying an Audit Insurance Policy

Purchasing an audit insurance policy isn’t as difficult as it may seem. You can contact the company in order to get a tailored quote. The insurance company will obviously want to mitigate its risk as much as possible. As a result, it will incorporate a series of different factors into the calculations. For instance, the premium will vary depending upon the performance of your company in the past. If your company has been targeted by tax authorities in the past and is likely to be targeted again, the premium will obviously be higher. You should ideally request quotes from two or three different insurance companies before making a decision about the best audit insurance policy to buy.

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Insurance

Benefits And Tips To Buy Annual Travel Insurance Policy

Almost all of us have to visit other places situated at far off places. Those engaged in business activities have to do so to meet their clients or for some other tasks. Many of us have to attend the marriage or go on vacations. Likewise temporary transfers or emergent meetings compel us to go on a trip to other destinations. Large numbers of people visit other places on frequent basis around the year.

Those making multiple trips in a year may buy annual travel insurance policy that is beneficial as under:

  1. Money-saving: Such policies help in saving money if you have to travel separately to different places three or more times in a year. These plans are useful in all respects with regard to one’s health, trip costs and property. Many such plans are linked with emergency medical coverage, travel delay coverage, medical expenses for family members and various other things.
  2. More useful for business people – The multi-trip plans are more beneficial for the business guys. Unexpected things like rental car collision / business equipment coverage and business concierge assistance covered under such plans are a great boon for the traders.
  3. Great ease – Buying separate insurance plans for your different trips is a cumbersome task. However an investment for multi-trip annual travel insurance plan saves you from such hassles. Just buy the one and remain tension free. You get a full coverage for different trips around the year and enjoy unmatched benefits during your trips.

What to bear in mind when buying such plans – Those thinking to purchase annual travel insurance policy must consider the following:

  1. Wide coverage – Such plans must cover most of the countries in the world. It is not that you may visit some nearby places. You could make a plan to visit any country. As such these plans must include large number of countries that you may visit in the coming year.
  2. Medical compensation – Anybody buying such a plan should ensure that it includes injuries or other sudden ailments that could attack you during your trip.
  3. Higher coverage limit – The plan you buy for your different annual trips should cover higher limits.
  4. Satisfactory emergency services – 24x7x365 satisfactory customer services are a must on the part of the insurers. Your phone calls must be attended to in responsive manners. Apt solutions with regard to your queries are a must. The staff of these insurers must be cordial enough.
  5. Coverage for stolen items – Things could be lost or damaged during your trips. Valuable belongings like jewelry, documents, baggage or cameras etc could be affected in adverse manners. Such losses need to be covered in the annual travel insurance policy.
  6. Miscellaneous coverage – Hotel / flight / transportation bookings may need to be cancelled due to unexpected happening like sudden ailment, any death or other such emergencies. Annual travel insurance plans must cover all such things.

Consideration and compliance of the above simple tips is beneficial in buying suitable annual travel insurance plans.

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Insurance

Insurance for all businesses

When starting a business, insurance is a word we cannot ignore. There are many types of commercial insurance available, depending on the nature of your business. One thing is for sure; your business will require some kind of cover and protection, a necessity in today’s world. Here are some of the types of business insurance available.

Public liability insurance

This is perhaps the most important of all, covering many things such as injuries to persons on your business premises. It also covers any injuries that might be caused by your product or service. A quick online search will reveal specialists in public liability insurance who can give you a competitive quote for all your business needs.

Employer’s liability insurance

If you employ people, you must have some form of worker liability insurance. This covers any medical bills that your employees might incur, plus any loss of pay due to injuries sustained at work. Even with simple work, accidents can happen, so your business needs to be covered for any eventuality. This also covers any compensation due to either death or injury sustained by your employees.

Business interruption insurance

This covers a wide range of situations that might affect your business. If your staff are unable to work in the office or factory for any reason, you will be covered by this insurance. This type of insurance is essential for businesses that operate from a retail or factory premises.

Product liability insurance

This is essential if you are in the manufacturing business and it covers you against any claim made due to your product. The type of insurance can be tailored to your specific products, giving you total protection. If a consumer suffered injuries they claim were caused by a defect in your product, the claim could be substantial and might result in your business having to close.

Vehicle insurance

If you or any of your staff use vehicles while working, then you need comprehensive vehicle cover. Third party cover is cheaper, but only covers damage to the third party vehicle in the event of an accident. Comprehensive cover enables your business to continue without disruptions, with replacement vehicles provided when necessary.

Property insurance

Your business premises needs to be covered against damage caused by any natural disasters. It also covers signage, inventory and furniture loss. Some natural events such as floods and earthquakes require a special policy, and your broker will be able to advise you on this. As with all types of insurance, there are many variations, so you need to be specific about your needs. Certainly, you need to be protected against fire and theft, although an “all risks” policy is a much better solution.

Personal life insurance

If the owner of the business were to die, then a life insurance policy would ensure that the business could continue and family members would not have to bear the financial burden at such a difficult time. Life insurance is important for everyone, but especially the business owner, who has many people relying upon them.