Posts in Category: Finance

What is General Liability Insurance?

General liability is the name of one of the insurances available for your business. It is important to have one because it covers property damage, bodily injury and other claims such as advertising, protecting your budget. If you do not purchase this type of coverage, you will have to pay the costs of the claims with money from your pocket, with personal assets and even with your own business.

Nowadays, the number of business lawsuits increases every day, so you should consider protecting yourself with general liability insurance even if it is not required by law.

What costs are covered by this insurance?

  • Bodily injury (people injured on your business property that make a claim against your business for their accident).
  • Third party property damage (another property is damaged accidentally by the activity carried by your employees)
  • Advertising injury (your advertising practices may be infringing on other business, because of copyright issues)
  • Reputation Harm (other businesses may consider that you attacked their reputation if you publicly talk about them in unflattering ways) and they can make a claim of libel and slander against you.

With general liability insurance you can cover costs for legal teams to represent you, evidence costs, witness fees, as well as judgments or settlements.

 What is not covered?

This type of insurance does not cover work accidents, occupational diseases, or damage to your business property. For such incidents, you must have workers’ comp and commercial property insurance.

General Liability Insurance is not required by law, but unless you are financially prepared to survive large liability claims, you should purchase it. According to statistics, 25% of small businesses will experience a claim in the next decade and liability claims are the most common. They are also very expensive; for example, Reputation harm claim costs $50,000 on average.

If you are still in doubt about purchasing general liability insurance for your business, here is another good reason to do it: some companies (large companies mostly) may refuse to work with you if you do not carry insurance. That`s because they realize that a liability claim against you may get you out of business if you are not insured, and they prefer having this guarantee that you are able to complete your work.

On the other hand, you should also know that this type of warranty will not protect you if you act irresponsibly, you are professionally negligent, or you mix your business expenses with personal expenses.

general liability insurance

General liability insurance is not the same thing with Professional liability insurance

Many people make this confusion, but these two types of insurance are different. We already detailed the concept of general liability insurance; professional liability, on the other hand, covers the costs related to committing errors in the provided services and products, failure to uphold contractor duties, performing incomplete work, making mistakes and omissions, misrepresentation, inaccurate advice as well as violation of good faith. It is also known as Malpractice insurance and is more specific than general liability insurance.

Everything You Ever Wanted to Know About Commercial Fleet Financing

Although the platforms in place work well when it comes to commercial fleet financing, startup businesses might require an update on the importance of this concept and what it can offer you. When you want to get a commercial fleet of vehicles, fleet financing gives you the option to ensure superior quality and avoid the mistake of overspending in an industry where managing your costs and expenses can be crucial to your bottom line.

What Is Commercial Fleet Financing All About?

The financing of a fleet of vehicles is no easy task. You need to make sure that you are covered regarding all the potential problems you might encounter and even those that are not really likely to occur any time soon.

Have you had trouble gathering the capital for your commercial vehicles as of late? Is your business stagnating, or are the debts you’re paying for your commercial vehicles too high? Regardless of what the problem is, a dependable commercial financing company is all that you need to help you:

  • Manage your finances better
  • Improve your knowledge and ability to make sound decisions on future financing
  • Get the most out of the vehicles you aim to buy
  • Find and purchase reliable tow trucks, trailers and equipment for your small business at a lower cost
  • Avoid long-term debts that numb your business profits, and extend your ROI more than ever for the future.

These are only a few of the benefits that a dependable commercial vehicle financing service can cover. Moreover, many of the best vehicle financing companies will also help you with sound advice and recommendations regarding your financing decisions and what you should know before you invest a lot of money into a fleet of vehicles.

How Can You Enjoy the Best Financing Services on the Market?

explain the whys printed on book with calculator and pen

Commercial financing can have a lot of undesirable “side effects,” depending on the vehicles you choose. Consider the following scenario: you might start out with a sizable budget, get additional financing to invest in a fleet of vehicles for your transportation service, then end up spending huge amounts of money on repairs and maintenance, since the vehicles you bought offered lower than average value at a higher cost.

You can avoid such issues, if you contact a responsible vehicle financing company. The best experts in your local area can advise you on all the potential benefits and drawbacks of buying a larger array of vehicles.

A few tips to make your experience even better should include the following:

  • Ask the company to provide you with financing comparisons, so you can make an informed choice.
  • Do a background check to make sure their affairs are transparent and that they offer ideal solutions for all their clients.
  • Ask them to recommend truck leasing, auto leasing companies and reliable repair shops that can provide you with quality services at a discount.

If you follow all these recommendations, you’ll have no trouble managing your costs and making sure all your vehicles can provide you with the best quality on the market. So contact your local commercial fleet financing services today for a great offer!

How to Go About Your Timeshare Cancellation in the Easiest Way Possible

Timeshare cancellation doesn’t have to be as hard as a lot of people make it out to be. In most cases, you’ll hear experts talking about the necessity to pay unreasonable amounts to get your timeshare company to consider canceling your timeshare. However, as long as you have the right knowledge, this course of action will not necessarily be the norm.

But with so many companies offering to help you cancel your timeshare, which one should you use? Should you even consider one of these services? And what are the deeper, underlying details that nobody tells you about upfront. We’ll be delving deep into these and many other issues in the following.

Should You Choose a Company to Cancel Your Timeshare?

That’s a good question. With so many services out there promising to help you do just about anything, what’s the real benefit behind choosing a company for timeshare cancellation, instead of aiming to do all the work yourself?

It has to be said, first of all, that there are a lot of companies out there promising not only to cancel, but also to resell or redeem your property. These organizations aren’t always interested in helping you out, and in many cases, they’ll just promise success and then ask for a lot of fees. Redemption is not necessarily a guarantee when it comes to cancellation, and depending on the volatile market at the time, your interest may not be as significant as you’d think.

At the same time, most redemption and cancellation companies will typically just connect with the developer and aim to negotiate a fair deal. However, seeing as the contract you signed with the developer is legally binding, the company you’re asking help from can typically only offer you support through informal relations with resort companies. If you’re lucky enough to find someone who is close to the manager of your resort company, you might get a fair deal, however, it’s still a big gamble.

So What’s Left to Be Done?

know your rights

Fortunately, the outlook when it comes to cancellation is not all that bleak. As said earlier, the contract you signed is legally binding, which means that the resort company has to play by the rules when faced with legal action. So, should you consider actually going to a lawyer for help?

The advantages of contacting a licensed attorney in this case are quite invaluable. Your lawyer will only be interested in serving you – his/her client – and you can rely on that loyalty, since his/her paycheck will depend on it. Also, a reliable local attorney will already know all about the most typical timeshare contracts that are around, and has likely dealt with plenty of similar cases in the past.

Basically, contacting a licensed, legal professional is your absolute best bet when it comes to canceling your timeshare. With the help of one of the best attorneys in your local area, timeshare cancellation won’t take too long, and you can be back to enjoying your life and managing your finances without the threat of your resort company bearing down on you.