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INSERT INTO `smart_posts` VALUES (1,1,'2019-12-21 00:32:36','2019-12-21 00:32:36','<!-- wp:paragraph -->\n<p>Welcome to WordPress. This is your first post. Edit or delete it, then start writing!</p>\n<!-- /wp:paragraph -->','Hello world!','','publish','open','open','','hello-world','','','2019-12-21 00:32:36','2019-12-21 00:32:36','',0,'http://smartinsurance.tips/?p=1',0,'post','',0),(1853,1,'2021-08-10 00:45:51','2021-08-10 00:45:51','','My-Post-6','','inherit','open','closed','','my-post-6-5','','','2021-08-10 00:45:51','2021-08-10 00:45:51','',1850,'http://smartinsurance.tips/wp-content/uploads/2021/08/My-Post-6.png',0,'attachment','image/png',0),(1863,1,'2021-08-10 01:13:30','2021-08-10 01:13:30','<!-- wp:image {\"id\":1861,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/08/My-Post-10-1024x536.png\" alt=\"\" class=\"wp-image-1861\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:heading -->\n<h2>Small-business profitability by the numbers</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>A U.S. Bank study found that 82 percent of businesses that failed did so because of problems with cash flow, and it\'s easy to see why. Only 40 percent of small businesses are profitable, and 30 percent lose money on a continual basis. The remaining 30 percent break even, so they\'re not turning a profit either.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Business owners who aren\'t turning a profit can find ways to turn things around. At first, it may seem like the only way to increase profits is to raise prices, but it\'s not.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Lessons on profitability from Apple</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Before discussing practical strategies to increase small-business profitability, it\'s a good idea to look at other profitable businesses to see how they increase their profit margins.&nbsp;Perhaps the epitome of profitable businesses is Apple.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Apple took the&nbsp;important step of increasing&nbsp;the ARPU by selling more expensive models. The iPhone X was the company\'s first $1,000 model, and after it was released, the company saw its profits rise 40 percent&nbsp;year over year, thanks to the increased average selling price of $724.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2>Strategies for boosting small-business profitability</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In the case of newer businesses, raising prices may not be the correct first step to raise profitability because they haven\'t built a reputation yet. However, if prices are much lower than the competition\'s prices, an increase may be necessary.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Here are nine other strategies for boosting small-business profitability.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>1. Find more customers&nbsp;</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Aside from raising prices, the other obvious option to increase small-business profitability is to find more customers. Business owners can do this through a variety of marketing channels.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Advertising is the most obvious marketing channel, and it can take the form of digital, TV and radio, and other print ads. Information marketing is another option. It includes publishing articles online, often targeting keywords that relate to the business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>2. Gather more leads and market to them</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Marketing and advertising are just one step in the process of getting new customers. The other part of the process is collecting contact information and reaching out to prospective customers.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Many small-business owners don\'t take nearly enough time to follow up on leads. However, this can be one of the greatest areas of waste in any business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The average salesperson only follows up with prospects two times, but half of all sales happen after the fifth contact.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Getting leads often costs money, so marketing dollars are wasted by not following up on the leads that were gathered.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>3. Increase the average size of orders&nbsp;</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Customers who already spend money at the business could be convinced to spend even more money there. Thus, current customers are one of the best sources of additional business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Business owners should cross-promote other products or services they sell to increase their average ticket size. Upselling clients more expensive products or services is another way to increase ticket size.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>The key is to explain why customers might want to buy the more expensive product and how it will make things better or easier for them than the less expensive model.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>4. Add new products or services&nbsp;</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Offering products or services that are adjacent to what the business already sells is an easy way to increase the size of orders and attract more customers. Business owners can ask current customers what types of products or services they would like to see to learn where they can get the most value for their investment.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>It\'s also important to research the market before diving into any new product or service.&nbsp;One important question to ask when adding new products or services is what kind of margins they will offer. Higher-margin businesses like services offer significant profits with less overhead.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>5. Cut expenses&nbsp;</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Profitability is measured by gross and net margins, especially net margins. Reducing expenses will increase the net margin as the business owner spends less on operations, increasing profits in the process.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Cutting expenses may include switching to a less expensive supplier, spending less on supplies&nbsp;or reducing staff or staff hours. Laying off staff members is one of the most difficult aspects of business, but it can be necessary.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Business owners should calculate their productivity ratio by adding their total payroll and payroll-related expenses, then divide the result by the number of sales they bring in. If the productivity ratio is greater than 100 percent, it may be time to start looking at staff cutbacks.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>6. Look at line items for more clues</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>It may not be obvious where expenses can be reduced, so it becomes necessary to break down the budget by line item, looking at each product or service and the expenses involved in selling them. Not every product or service might be profitable, so examining each one individually can enable business owners to root out the ones that are running at a loss.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Analyzing each line item in the budget enables business owners to see exactly where their money is going and how much it costs to do business for every section of the business. Some segments may simply be more trouble than they are worth.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>7. Do more with less&nbsp;</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Business owners should also consider how efficiently their operations are running. When considering the expenses associated with each product or service, it\'s also important to look at which products or services bring in the most revenue.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>It makes more sense to spend more money in areas that are bringing in more revenue than others. Business owners may even want to consider cutting products or services that are expensive to maintain but don\'t bring in much revenue.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Any products or services that are cut can then be replaced with ones that can capture significant amounts of revenue with fewer resources or capital being allocated to them. The focus should be on high-margin products and services whenever possible.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>8. Monitor inventory levels&nbsp;</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Storing products costs money, which means inventory storage can be a sneaky expense that takes up more money than noticed initially. Businesses shouldn\'t be spending money to store items that never sell, so it\'s important to monitor inventory levels continually.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Inventory-management software offers an excellent way to stay on top of which items are selling and which aren\'t. The software makes it easy to keep products that sell well in stock while getting rid of products that don\'t sell and merely take up shelf space in the warehouse.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p><strong>9. Look for ways to increase your return on investment&nbsp;</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>How much is being spent to get sales? There are many ways to market a business, but not every marketing method works well for every type of business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Business owners should evaluate each marketing method they are using to see which are paying off the best. It might be time to eliminate one or two marketing outlets to focus more on the top one or two that give you the greatest ROI on invested ad dollars.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>It\'s always important to conduct regular audits of the business, even when it isn\'t struggling to turn a profit. Staying on top of where the business stands will enable owners to head off profitability issues before they become something that puts them out of business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.foxbusiness.com/money/pay-taxes-on-savings-account\">click here</a>.</p>\n<!-- /wp:paragraph -->','9 Strategies to Boost Small-Business Profitability','','inherit','closed','closed','','1859-revision-v1','','','2021-08-10 01:13:30','2021-08-10 01:13:30','',1859,'http://smartinsurance.tips/?p=1863',0,'revision','',0),(3,1,'2019-12-21 00:32:36','2019-12-21 00:32:36','<!-- wp:heading --><h2>Who we are</h2><!-- /wp:heading --><!-- wp:paragraph --><p>Our website address is: http://smartinsurance.tips.</p><!-- /wp:paragraph --><!-- wp:heading --><h2>What personal data we collect and why we collect it</h2><!-- /wp:heading --><!-- wp:heading {\"level\":3} --><h3>Comments</h3><!-- /wp:heading --><!-- wp:paragraph --><p>When visitors leave comments on the site we collect the data shown in the comments form, and also the visitor&#8217;s IP address and browser user agent string to help spam detection.</p><!-- /wp:paragraph --><!-- wp:paragraph --><p>An anonymized string created from your email address (also called a hash) may be provided to the Gravatar service to see if you are using it. The Gravatar service privacy policy is available here: https://automattic.com/privacy/. After approval of your comment, your profile picture is visible to the public in the context of your comment.</p><!-- /wp:paragraph --><!-- wp:heading {\"level\":3} --><h3>Media</h3><!-- /wp:heading --><!-- wp:paragraph --><p>If you upload images to the website, you should avoid uploading images with embedded location data (EXIF GPS) included. Visitors to the website can download and extract any location data from images on the website.</p><!-- /wp:paragraph --><!-- wp:heading {\"level\":3} --><h3>Contact forms</h3><!-- /wp:heading --><!-- wp:heading {\"level\":3} --><h3>Cookies</h3><!-- /wp:heading --><!-- wp:paragraph --><p>If you leave a comment on our site you may opt-in to saving your name, email address and website in cookies. These are for your convenience so that you do not have to fill in your details again when you leave another comment. These cookies will last for one year.</p><!-- /wp:paragraph --><!-- wp:paragraph --><p>If you visit our login page, we will set a temporary cookie to determine if your browser accepts cookies. This cookie contains no personal data and is discarded when you close your browser.</p><!-- /wp:paragraph --><!-- wp:paragraph --><p>When you log in, we will also set up several cookies to save your login information and your screen display choices. Login cookies last for two days, and screen options cookies last for a year. If you select &quot;Remember Me&quot;, your login will persist for two weeks. If you log out of your account, the login cookies will be removed.</p><!-- /wp:paragraph --><!-- wp:paragraph --><p>If you edit or publish an article, an additional cookie will be saved in your browser. This cookie includes no personal data and simply indicates the post ID of the article you just edited. It expires after 1 day.</p><!-- /wp:paragraph --><!-- wp:heading {\"level\":3} --><h3>Embedded content from other websites</h3><!-- /wp:heading --><!-- wp:paragraph --><p>Articles on this site may include embedded content (e.g. videos, images, articles, etc.). Embedded content from other websites behaves in the exact same way as if the visitor has visited the other website.</p><!-- /wp:paragraph --><!-- wp:paragraph --><p>These websites may collect data about you, use cookies, embed additional third-party tracking, and monitor your interaction with that embedded content, including tracking your interaction with the embedded content if you have an account and are logged in to that website.</p><!-- /wp:paragraph --><!-- wp:heading {\"level\":3} --><h3>Analytics</h3><!-- /wp:heading --><!-- wp:heading --><h2>Who we share your data with</h2><!-- /wp:heading --><!-- wp:heading --><h2>How long we retain your data</h2><!-- /wp:heading --><!-- wp:paragraph --><p>If you leave a comment, the comment and its metadata are retained indefinitely. This is so we can recognize and approve any follow-up comments automatically instead of holding them in a moderation queue.</p><!-- /wp:paragraph --><!-- wp:paragraph --><p>For users that register on our website (if any), we also store the personal information they provide in their user profile. All users can see, edit, or delete their personal information at any time (except they cannot change their username). Website administrators can also see and edit that information.</p><!-- /wp:paragraph --><!-- wp:heading --><h2>What rights you have over your data</h2><!-- /wp:heading --><!-- wp:paragraph --><p>If you have an account on this site, or have left comments, you can request to receive an exported file of the personal data we hold about you, including any data you have provided to us. You can also request that we erase any personal data we hold about you. This does not include any data we are obliged to keep for administrative, legal, or security purposes.</p><!-- /wp:paragraph --><!-- wp:heading --><h2>Where we send your data</h2><!-- /wp:heading --><!-- wp:paragraph --><p>Visitor comments may be checked through an automated spam detection service.</p><!-- /wp:paragraph --><!-- wp:heading --><h2>Your contact information</h2><!-- /wp:heading --><!-- wp:heading --><h2>Additional information</h2><!-- /wp:heading --><!-- wp:heading {\"level\":3} --><h3>How we protect your data</h3><!-- /wp:heading --><!-- wp:heading {\"level\":3} --><h3>What data breach procedures we have in place</h3><!-- /wp:heading --><!-- wp:heading {\"level\":3} --><h3>What third parties we receive data from</h3><!-- /wp:heading --><!-- wp:heading {\"level\":3} --><h3>What automated decision making and/or profiling we do with user data</h3><!-- /wp:heading --><!-- wp:heading {\"level\":3} --><h3>Industry regulatory disclosure requirements</h3><!-- /wp:heading -->','Privacy Policy','','draft','closed','open','','privacy-policy','','','2019-12-21 00:32:36','2019-12-21 00:32:36','',0,'http://smartinsurance.tips/?page_id=3',0,'page','',0),(5,1,'2019-12-21 00:37:56','2019-12-21 00:37:56','','13 marketing campaigns','','inherit','open','closed','','13-marketing-campaigns','','','2019-12-21 00:37:56','2019-12-21 00:37:56','',0,'http://smartinsurance.tips/wp-content/uploads/2019/12/13-marketing-campaigns.png',0,'attachment','image/png',0),(8,1,'2019-12-21 02:16:11','2019-12-21 02:16:11','','Screenshot-2019-11-28-at-9.59.07-AM','','inherit','open','closed','','screenshot-2019-11-28-at-9-59-07-am','','','2019-12-21 02:16:11','2019-12-21 02:16:11','',0,'http://smartinsurance.tips/wp-content/uploads/2019/12/Screenshot-2019-11-28-at-9.59.07-AM.png',0,'attachment','image/png',0),(167,1,'2020-01-27 16:07:30','2020-01-27 16:07:30','<!-- wp:divi/placeholder /-->','How to Figure Out How Much Homeowners Insurance You Need','','inherit','closed','closed','','166-revision-v1','','','2020-01-27 16:07:30','2020-01-27 16:07:30','',166,'http://smartinsurance.tips/166-revision-v1/',0,'revision','',0),(13,1,'2019-12-21 02:23:49','2019-12-21 02:23:49','<!-- wp:paragraph {\"fontSize\":\"large\"} -->\n<p class=\"has-large-font-size\">fdashfaf</p>\n<!-- /wp:paragraph -->','Test Page 2','','publish','closed','closed','','test-page-2','','','2019-12-21 02:23:49','2019-12-21 02:23:49','',0,'http://smartinsurance.tips/?page_id=13',0,'page','',0),(14,1,'2019-12-21 02:23:49','2019-12-21 02:23:49','<!-- wp:paragraph {\"fontSize\":\"large\"} -->\n<p class=\"has-large-font-size\">fdashfaf</p>\n<!-- /wp:paragraph -->','Test Page 2','','inherit','closed','closed','','13-revision-v1','','','2019-12-21 02:23:49','2019-12-21 02:23:49','',13,'http://smartinsurance.tips/?p=14',0,'revision','',0),(17,1,'2019-12-21 03:05:50','2019-12-21 03:05:50','','Divi','','publish','closed','closed','','divi','','','2019-12-22 01:37:29','2019-12-22 01:37:29','',0,'http://smartinsurance.tips/?p=17',0,'custom_css','',0),(18,1,'2019-12-21 03:05:50','2019-12-21 03:05:50','','Divi','','inherit','closed','closed','','17-revision-v1','','','2019-12-21 03:05:50','2019-12-21 03:05:50','',17,'http://smartinsurance.tips/?p=18',0,'revision','',0),(19,1,'2019-12-21 03:06:59','2019-12-21 03:06:59','','Theme Builder Layout','','publish','open','closed','','theme-builder-layout','','','2019-12-21 03:06:59','2019-12-21 03:06:59','',0,'http://smartinsurance.tips/?post_type=et_header_layout&p=19',0,'et_header_layout','',0),(21,1,'2019-12-21 03:08:12','2019-12-21 03:08:12','','Default Website Template','','publish','closed','closed','','default-website-template','','','2019-12-21 03:10:13','2019-12-21 03:10:13','',0,'http://smartinsurance.tips/?post_type=et_template&#038;p=21',0,'et_template','',0),(22,1,'2019-12-21 03:09:53','2019-12-21 03:09:53','[et_pb_section fb_built=\"1\" next_background_color=\"#ffffff\" admin_label=\"Hero\" _builder_version=\"3.9\" background_color=\"#f7f8fc\" custom_padding=\"|||\" bottom_divider_style=\"asymmetric\"][et_pb_row _builder_version=\"3.9\"][et_pb_column type=\"1_2\" _builder_version=\"3.9\" parallax=\"off\" parallax_method=\"on\"][et_pb_text _builder_version=\"3.9\" text_font=\"Montserrat|300|||||||\" text_font_size=\"16px\" text_line_height=\"2em\" header_font=\"||||||||\" header_font_size=\"40px\" header_font_size_tablet=\"30px\" header_font_size_phone=\"24px\" header_font_size_last_edited=\"on|desktop\" header_line_height=\"1.4em\" max_width=\"600px\" custom_margin=\"||30px|\" custom_margin_last_edited=\"off|desktop\"]<h1>Our Blog</h1>\n<p>Proin eget tortor risus. 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Donec rutrum congue leo eget malesuada. </p>[/et_pb_text][/et_pb_column][et_pb_column type=\"1_2\" _builder_version=\"3.9\" parallax=\"off\" parallax_method=\"on\"][et_pb_signup mailchimp_list=\"elegantthemestest|90e34fe85f\" mailchimp_account_name=\"elegantthemestest\" mailchimp_api_key=\"368fa0d3a9b975bb8c8c05bab543240c-us10\" description=\"&lt;br /&gt;\n\" form_field_text_color=\"rgba(0,0,0,0.4)\" _builder_version=\"3.9\" form_field_font=\"||||||||\" background_color=\"#ffffff\" border_radii=\"on|10px|10px|10px|10px\" border_width_all_fields=\"2px\" border_color_all_fields=\"rgba(51,51,51,0.06)\" custom_button=\"on\" button_text_size=\"14px\" button_text_color=\"#ffffff\" button_bg_color=\"#003bde\" button_border_width=\"10px\" button_border_color=\"rgba(0,0,0,0)\" button_border_radius=\"4px\" button_letter_spacing=\"1px\" button_font=\"Montserrat|||on|||||\" button_bg_color_hover=\"#0053ef\" button_border_radius_hover=\"4px\" button_letter_spacing_hover=\"1px\" box_shadow_style=\"preset3\" box_shadow_vertical=\"10px\" box_shadow_blur=\"80px\" box_shadow_spread=\"-10px\" box_shadow_color=\"rgba(44,54,92,0.2)\"][/et_pb_signup][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" next_background_color=\"#012780\" admin_label=\"About Us\" _builder_version=\"3.9\" custom_padding=\"54px|0px|100px|0px|false|false\" bottom_divider_style=\"asymmetric3\"][et_pb_row _builder_version=\"3.9\"][et_pb_column type=\"4_4\" _builder_version=\"3.9\" parallax=\"off\" parallax_method=\"on\"][et_pb_blog posts_number=\"3\" _builder_version=\"3.9\" header_font=\"Montserrat||||||||\" body_font=\"Montserrat|300|||||||\" body_font_size=\"16px\" body_line_height=\"2em\" meta_font=\"Montserrat||||||||\" meta_text_color=\"rgba(0,0,0,0.2)\" pagination_font=\"Montserrat||||||||\" pagination_text_color=\"#003bde\" pagination_font_size=\"16px\"][/et_pb_blog][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" admin_label=\"Contact\" _builder_version=\"3.9\" background_color=\"#012780\" use_background_color_gradient=\"on\" background_color_gradient_start=\"#012780\" background_color_gradient_end=\"rgba(1,39,128,0)\" background_color_gradient_end_position=\"60%\" background_color_gradient_overlays_image=\"on\" background_image=\"http://smartinsurance.tips/wp-content/uploads/2019/12/insurance-01.png\" background_size=\"initial\" custom_padding=\"54px|0px|120px|0px|false|false\"][et_pb_row _builder_version=\"3.9\"][et_pb_column type=\"2_3\" _builder_version=\"3.9\" parallax=\"off\" parallax_method=\"on\"][et_pb_text _builder_version=\"3.9\" text_font=\"Montserrat|300|||||||\" text_font_size=\"16px\" text_line_height=\"2em\" header_font=\"||||||||\" header_2_font=\"||||||||\" header_2_font_size=\"36px\" header_2_font_size_tablet=\"30px\" header_2_font_size_phone=\"24px\" header_2_font_size_last_edited=\"on|phone\" header_2_line_height=\"1.4em\" background_layout=\"dark\" locked=\"off\"]<h2>Put You &amp; Your Family in Good Hands</h2>[/et_pb_text][/et_pb_column][et_pb_column type=\"1_3\" _builder_version=\"3.9\" parallax=\"off\" parallax_method=\"on\"][et_pb_button button_text=\"Get Started\" button_alignment=\"right\" _builder_version=\"3.9\" custom_button=\"on\" button_text_size=\"14px\" button_text_color=\"#ffffff\" button_bg_color=\"#318df1\" button_border_width=\"0px\" button_border_radius=\"4px\" button_letter_spacing=\"1px\" button_font=\"Montserrat|||on|||||\" button_bg_color_hover=\"#0053ef\" button_border_radius_hover=\"4px\" button_letter_spacing_hover=\"1px\" background_layout=\"dark\" custom_margin=\"|||\" custom_padding=\"16px|40px|16px|40px|true|true\"][/et_pb_button][/et_pb_column][/et_pb_row][et_pb_row custom_padding=\"80px|6%|80px|6%|true|true\" custom_margin=\"80px|||\" _builder_version=\"3.9\" background_color=\"#ffffff\" border_radii=\"on|10px|10px|10px|10px\" box_shadow_style=\"preset1\" box_shadow_vertical=\"40px\" box_shadow_blur=\"80px\" box_shadow_color=\"rgba(55,104,238,0.15)\" animation_style=\"zoom\" animation_intensity_zoom=\"-5%\" animation_speed_curve=\"ease-in\"][et_pb_column type=\"4_4\" _builder_version=\"3.9\" parallax=\"off\" parallax_method=\"on\"][et_pb_text _builder_version=\"3.9\" text_font=\"Montserrat|300|||||||\" text_font_size=\"16px\" text_line_height=\"2em\" header_font=\"||||||||\" header_2_font=\"||||||||\" header_2_font_size=\"36px\" header_2_font_size_tablet=\"30px\" header_2_font_size_phone=\"24px\" header_2_font_size_last_edited=\"on|phone\" header_2_line_height=\"1.4em\" text_orientation=\"center\" max_width=\"700px\" module_alignment=\"center\" custom_margin=\"||60px|\" locked=\"off\"]<h2>Get In Touch</h2>\n<p>Cras ultricies ligula sed magna dictum porta. Praesent sapien massa, convallis a pellentesque nec, egestas non nisi. Praesent sapien massa, convallis a</p>[/et_pb_text][et_pb_contact_form captcha=\"off\" form_background_color=\"rgba(0,0,0,0)\" module_id=\"et_pb_contact_form_0\" _builder_version=\"3.9\" form_field_font=\"Montserrat||||||||\" border_radii=\"on|6px|6px|6px|6px\" border_width_all=\"2px\" border_color_all=\"rgba(51,51,51,0.06)\" custom_button=\"on\" button_text_size=\"14px\" button_text_color=\"#ffffff\" button_bg_color=\"#003bde\" button_border_width=\"10px\" button_border_color=\"rgba(0,0,0,0)\" button_border_radius=\"4px\" button_letter_spacing=\"1px\" button_font=\"Montserrat|||on|||||\" button_bg_color_hover=\"#0053ef\" button_border_radius_hover=\"4px\" button_letter_spacing_hover=\"1px\"][et_pb_contact_field field_id=\"Name\" field_title=\"Name\" _builder_version=\"3.0.87\" border_radii=\"on||||\"][/et_pb_contact_field][et_pb_contact_field field_id=\"Email\" field_title=\"Email Address\" field_type=\"email\" _builder_version=\"3.0.87\" border_radii=\"on||||\"][/et_pb_contact_field][et_pb_contact_field field_id=\"Message\" field_title=\"Message\" field_type=\"text\" fullwidth_field=\"on\" _builder_version=\"3.0.87\" border_radii=\"on||||\"][/et_pb_contact_field][/et_pb_contact_form][/et_pb_column][/et_pb_row][/et_pb_section]','Theme Builder Layout','','publish','open','closed','','theme-builder-layout','','','2019-12-21 03:10:06','2019-12-21 03:10:06','',0,'http://smartinsurance.tips/?post_type=et_footer_layout&#038;p=22',0,'et_footer_layout','',0),(23,1,'2019-12-21 03:09:57','2019-12-21 03:09:57','','insurance-01','','inherit','open','closed','','insurance-01','','','2019-12-21 03:09:57','2019-12-21 03:09:57','',0,'http://smartinsurance.tips/wp-content/uploads/2019/12/insurance-01.png',0,'attachment','image/png',0),(24,1,'2019-12-21 03:10:06','2019-12-21 03:10:06','[et_pb_section fb_built=\"1\" next_background_color=\"#ffffff\" admin_label=\"Hero\" _builder_version=\"3.9\" background_color=\"#f7f8fc\" custom_padding=\"|||\" bottom_divider_style=\"asymmetric\"][et_pb_row _builder_version=\"3.9\"][et_pb_column type=\"1_2\" _builder_version=\"3.9\" parallax=\"off\" parallax_method=\"on\"][et_pb_text _builder_version=\"3.9\" text_font=\"Montserrat|300|||||||\" text_font_size=\"16px\" text_line_height=\"2em\" header_font=\"||||||||\" header_font_size=\"40px\" header_font_size_tablet=\"30px\" header_font_size_phone=\"24px\" header_font_size_last_edited=\"on|desktop\" header_line_height=\"1.4em\" max_width=\"600px\" custom_margin=\"||30px|\" custom_margin_last_edited=\"off|desktop\"]<h1>Our Blog</h1>\n<p>Proin eget tortor risus. Praesent sapien massa, convallis a pellentesque nec, egestas non nisi. Donec rutrum congue leo eget malesuada. </p>[/et_pb_text][/et_pb_column][et_pb_column type=\"1_2\" _builder_version=\"3.9\" parallax=\"off\" parallax_method=\"on\"][et_pb_signup mailchimp_list=\"elegantthemestest|90e34fe85f\" mailchimp_account_name=\"elegantthemestest\" mailchimp_api_key=\"368fa0d3a9b975bb8c8c05bab543240c-us10\" description=\"&lt;br /&gt;\n\" form_field_text_color=\"rgba(0,0,0,0.4)\" _builder_version=\"3.9\" form_field_font=\"||||||||\" background_color=\"#ffffff\" border_radii=\"on|10px|10px|10px|10px\" border_width_all_fields=\"2px\" border_color_all_fields=\"rgba(51,51,51,0.06)\" custom_button=\"on\" button_text_size=\"14px\" button_text_color=\"#ffffff\" button_bg_color=\"#003bde\" button_border_width=\"10px\" button_border_color=\"rgba(0,0,0,0)\" button_border_radius=\"4px\" button_letter_spacing=\"1px\" button_font=\"Montserrat|||on|||||\" button_bg_color_hover=\"#0053ef\" button_border_radius_hover=\"4px\" button_letter_spacing_hover=\"1px\" box_shadow_style=\"preset3\" box_shadow_vertical=\"10px\" box_shadow_blur=\"80px\" box_shadow_spread=\"-10px\" box_shadow_color=\"rgba(44,54,92,0.2)\"][/et_pb_signup][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" next_background_color=\"#012780\" admin_label=\"About Us\" _builder_version=\"3.9\" custom_padding=\"54px|0px|100px|0px|false|false\" bottom_divider_style=\"asymmetric3\"][et_pb_row _builder_version=\"3.9\"][et_pb_column type=\"4_4\" _builder_version=\"3.9\" parallax=\"off\" parallax_method=\"on\"][et_pb_blog posts_number=\"3\" _builder_version=\"3.9\" header_font=\"Montserrat||||||||\" body_font=\"Montserrat|300|||||||\" body_font_size=\"16px\" body_line_height=\"2em\" meta_font=\"Montserrat||||||||\" meta_text_color=\"rgba(0,0,0,0.2)\" pagination_font=\"Montserrat||||||||\" pagination_text_color=\"#003bde\" pagination_font_size=\"16px\"][/et_pb_blog][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" admin_label=\"Contact\" _builder_version=\"3.9\" background_color=\"#012780\" use_background_color_gradient=\"on\" background_color_gradient_start=\"#012780\" background_color_gradient_end=\"rgba(1,39,128,0)\" background_color_gradient_end_position=\"60%\" background_color_gradient_overlays_image=\"on\" background_image=\"http://smartinsurance.tips/wp-content/uploads/2019/12/insurance-01.png\" background_size=\"initial\" custom_padding=\"54px|0px|120px|0px|false|false\"][et_pb_row _builder_version=\"3.9\"][et_pb_column type=\"2_3\" _builder_version=\"3.9\" parallax=\"off\" parallax_method=\"on\"][et_pb_text _builder_version=\"3.9\" text_font=\"Montserrat|300|||||||\" text_font_size=\"16px\" text_line_height=\"2em\" header_font=\"||||||||\" header_2_font=\"||||||||\" header_2_font_size=\"36px\" header_2_font_size_tablet=\"30px\" header_2_font_size_phone=\"24px\" header_2_font_size_last_edited=\"on|phone\" header_2_line_height=\"1.4em\" background_layout=\"dark\" locked=\"off\"]<h2>Put You &amp; Your Family in Good Hands</h2>[/et_pb_text][/et_pb_column][et_pb_column type=\"1_3\" _builder_version=\"3.9\" parallax=\"off\" parallax_method=\"on\"][et_pb_button button_text=\"Get Started\" button_alignment=\"right\" _builder_version=\"3.9\" custom_button=\"on\" button_text_size=\"14px\" button_text_color=\"#ffffff\" button_bg_color=\"#318df1\" button_border_width=\"0px\" button_border_radius=\"4px\" button_letter_spacing=\"1px\" button_font=\"Montserrat|||on|||||\" button_bg_color_hover=\"#0053ef\" button_border_radius_hover=\"4px\" button_letter_spacing_hover=\"1px\" background_layout=\"dark\" custom_margin=\"|||\" custom_padding=\"16px|40px|16px|40px|true|true\"][/et_pb_button][/et_pb_column][/et_pb_row][et_pb_row custom_padding=\"80px|6%|80px|6%|true|true\" custom_margin=\"80px|||\" _builder_version=\"3.9\" background_color=\"#ffffff\" border_radii=\"on|10px|10px|10px|10px\" box_shadow_style=\"preset1\" box_shadow_vertical=\"40px\" box_shadow_blur=\"80px\" box_shadow_color=\"rgba(55,104,238,0.15)\" animation_style=\"zoom\" animation_intensity_zoom=\"-5%\" animation_speed_curve=\"ease-in\"][et_pb_column type=\"4_4\" _builder_version=\"3.9\" parallax=\"off\" parallax_method=\"on\"][et_pb_text _builder_version=\"3.9\" text_font=\"Montserrat|300|||||||\" text_font_size=\"16px\" text_line_height=\"2em\" header_font=\"||||||||\" header_2_font=\"||||||||\" header_2_font_size=\"36px\" header_2_font_size_tablet=\"30px\" header_2_font_size_phone=\"24px\" header_2_font_size_last_edited=\"on|phone\" header_2_line_height=\"1.4em\" text_orientation=\"center\" max_width=\"700px\" module_alignment=\"center\" custom_margin=\"||60px|\" locked=\"off\"]<h2>Get In Touch</h2>\n<p>Cras ultricies ligula sed magna dictum porta. Praesent sapien massa, convallis a pellentesque nec, egestas non nisi. Praesent sapien massa, convallis a</p>[/et_pb_text][et_pb_contact_form captcha=\"off\" form_background_color=\"rgba(0,0,0,0)\" module_id=\"et_pb_contact_form_0\" _builder_version=\"3.9\" form_field_font=\"Montserrat||||||||\" border_radii=\"on|6px|6px|6px|6px\" border_width_all=\"2px\" border_color_all=\"rgba(51,51,51,0.06)\" custom_button=\"on\" button_text_size=\"14px\" button_text_color=\"#ffffff\" button_bg_color=\"#003bde\" button_border_width=\"10px\" button_border_color=\"rgba(0,0,0,0)\" button_border_radius=\"4px\" button_letter_spacing=\"1px\" button_font=\"Montserrat|||on|||||\" button_bg_color_hover=\"#0053ef\" button_border_radius_hover=\"4px\" button_letter_spacing_hover=\"1px\"][et_pb_contact_field field_id=\"Name\" field_title=\"Name\" _builder_version=\"3.0.87\" border_radii=\"on||||\"][/et_pb_contact_field][et_pb_contact_field field_id=\"Email\" field_title=\"Email Address\" field_type=\"email\" _builder_version=\"3.0.87\" border_radii=\"on||||\"][/et_pb_contact_field][et_pb_contact_field field_id=\"Message\" field_title=\"Message\" field_type=\"text\" fullwidth_field=\"on\" _builder_version=\"3.0.87\" border_radii=\"on||||\"][/et_pb_contact_field][/et_pb_contact_form][/et_pb_column][/et_pb_row][/et_pb_section]','Theme Builder Layout','','inherit','closed','closed','','22-revision-v1','','','2019-12-21 03:10:06','2019-12-21 03:10:06','',22,'http://smartinsurance.tips/?p=24',0,'revision','',0),(25,1,'2019-12-21 03:10:18','2019-12-21 03:10:18','','Theme Builder','','publish','closed','closed','','theme-builder','','','2019-12-21 03:10:18','2019-12-21 03:10:18','',0,'http://smartinsurance.tips/?post_type=et_theme_builder&p=25',0,'et_theme_builder','',0),(26,1,'2019-12-21 03:10:18','2019-12-21 03:10:18','','Default Website Template','','publish','closed','closed','','default-website-template-2','','','2019-12-21 03:40:58','2019-12-21 03:40:58','',0,'http://smartinsurance.tips/?post_type=et_template&#038;p=26',0,'et_template','',0),(27,1,'2019-12-21 03:39:41','2019-12-21 03:39:41','[et_pb_section fb_built=\"1\" next_background_color=\"#ffffff\" admin_label=\"Hero\" _builder_version=\"3.9\" background_color=\"#f7f8fc\" custom_padding=\"|||\" bottom_divider_style=\"asymmetric\"][et_pb_row _builder_version=\"3.9\"][et_pb_column type=\"1_2\" _builder_version=\"3.9\" parallax=\"off\" parallax_method=\"on\"][et_pb_text _builder_version=\"3.9\" text_font=\"Montserrat|300|||||||\" text_font_size=\"16px\" text_line_height=\"2em\" header_font=\"||||||||\" header_font_size=\"40px\" header_font_size_tablet=\"30px\" header_font_size_phone=\"24px\" header_font_size_last_edited=\"on|desktop\" header_line_height=\"1.4em\" max_width=\"600px\" custom_margin=\"||30px|\" custom_margin_last_edited=\"off|desktop\"]<h1>Our Blog</h1>\n<p>Proin eget tortor risus. 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However, many do not consider how their business would survive if they were unable to do business in their location due to a disaster.</p>\n<p>&nbsp;</p>\n<h2><strong>Ill-Prepared Businesses Often Fail</strong></h2>\n<p><strong></strong></p>\n<p>This may sound like insurance doom and gloom, but statistics support this claim. The<span> </span><a href=\"about:blank\">Federal Emergency Management Agency (FEMA) estimates</a><span> </span>between 40 and 60 percent of all small businesses fail to reopen after a disaster. That’s a risk no business should ignore.</p>\n<p>What constitutes a disaster? Basically, anything that brings operations to a grinding halt. This includes events such as natural disasters, burst pipes, fire, server failure, a flu epidemic, terrorism, a key employee fatality, and even executive kidnapping.</p>\n<p>Many companies aren’t financially prepared for unexpected business interruptions and every day their doors stay closed they lose revenue. They still need to pay ongoing expenses even when they can’t conduct business. Plus, their future earnings may take a hit if competitors pick up their business.</p>\n<p>A quick return to business after a disaster isn’t always a possibility. However, business interruption insurance can provide a financial cushion until your company can return to normal.</p>\n<p>&nbsp;</p>\n<h2><strong>What is Business Interruption Insurance?</strong></h2>\n<p><strong></strong></p>\n<p>Business interruption insurance is not a stand-alone policy. It is added to a property/casualty insurance policy or included in a package policy as an add-on or rider.</p>\n<p>This coverage compensates for lost income by providing your company with the revenue you would have earned, based on your historical financial records. It also covers operating expenses that continue even when operations are at a temporary halt due to denied access or forced evacuation. These include items such as rent, electricity, payroll, property taxes, loan payments, and more.</p>\n<p>Coverage is also available for extra expenses if your company needs to carry on business at another location. You may need to set up temporary internet, telephone, and electricity, rental equipment and space, pay for movers, and outsource work. This coverage may also cover employee training on new equipment or software after a loss.</p>\n<p>Policies normally include a 48-hour waiting period after the event. Coverage typically lasts until the end of the business interruption period, which is usually from the occurrence date until the damaged property is returned to its prior condition.</p>\n<p>&nbsp;</p>\n<h2><strong>Mitigating Business Interruption Risk</strong></h2>\n<p><strong></strong></p>\n<p>No two businesses are precisely the same, so their insurance coverage shouldn’t be either. Business interruption coverage is definitely one area in which clients benefit from an insurance agent’s knowledge, experience, and advice.</p>\n<p>With so many different types of coverage, we can recommend the best possible coverage at the most reasonable cost. Business interruption insurance may overlap other forms of insurance such as property and cyber liability, so coverage needs to mesh well to prevent duplication or insurance gaps.</p>\n<p>Rely on a skilled insurance agency like ours to tailor your business interruption coverage to the appropriate exposures. We’re experts in business interruption risk mitigation and can provide your company with the safety net it needs should it ever face a disaster.</p>\n</div>\n</div>\n</div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]\n<!-- /wp:divi/placeholder -->','The Importance of Business Interruption Insurance','','publish','closed','closed','','the-importance-of-business-interruption-insurance','','','2020-03-24 21:02:44','2020-03-24 21:02:44','',0,'http://smartinsurance.tips/?page_id=240',0,'page','',0),(195,1,'2020-02-25 17:10:02','2020-02-25 17:10:02','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 style=\"text-align: center;\"><strong>Commercial Property Insurance: 5 Ways to Manage Risks Upfront</strong></h1>[/et_pb_text][et_pb_image src=\"http://smartinsurance.tips/wp-content/uploads/2020/02/Untitled_Clipping_022620_052318_AM.jpg\" _builder_version=\"4.0.9\" align=\"center\" hover_enabled=\"0\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<div align=\"center\"></div>\n<div align=\"center\"></div>\n<div align=\"center\">\n<p style=\"text-align: justify;\">Finding the right space for your business requires the close consideration of several factors—including neighborhood, traffic, safety, and compliance concerns. When evaluating your options, keep in mind that certain qualities of a particular space may increase your risk and impact your insurance costs. While everything may not be within your control, here are five things you can do to help manage your risks upfront.</p>\n<p><strong></strong></p>\n<p style=\"text-align: justify;\"><strong>Secure your space<br /></strong>Use deadbolts, shatter-proof glass, an alarm system, and security cameras to make sure you’re as protected as possible.</p>\n<p style=\"text-align: justify;\"><strong>Guard against fire<br /></strong>In addition to up-to-date smoke detectors and sprinkler systems, you should also develop a fire-response plan that includes safety routes, extinguishers, and battery-powered backup lighting to illuminate exits.<strong> </strong></p>\n<p style=\"text-align: justify;\"><strong></strong></p>\n<p style=\"text-align: justify;\"><strong>Update your infrastructure<br /></strong>Double-check and update aging electrical systems, structural issues, insufficient drainage, and any other structural problems that could lead to a loss.</p>\n<p style=\"text-align: justify;\"><strong></strong></p>\n<p style=\"text-align: justify;\"><strong>Consider the setbacks<br /></strong>Significant risk factors—like fire, for example—can generate losses and costs far beyond structural repair. Taking extra security measures and making updates in advance can pay off in the long run by mitigating risks.</p>\n<p style=\"text-align: justify;\"><strong></strong></p>\n<p style=\"text-align: justify;\"><strong>Talk to your insurance provider<br /></strong>Taking steps to protect your space from potential hazards sends a signal to your insurance provider that you’re taking concerns seriously—which may translate into lower premiums.</p>\n<p style=\"text-align: left;\"></p>\n<p style=\"text-align: center;\"><em style=\"font-size: 14px;\">Reducing the risk of theft, damage, and accidents will save your business time, money, and trouble in the long run.</em></p>\n<p style=\"text-align: center;\"><em style=\"font-size: 14px;\"></em></p>\n<p style=\"text-align: left;\">Reducing the risk of theft, damage, and accidents can save your business time, money, and trouble in the long run.</p>\n<p style=\"text-align: left;\">Connect with an<span> </span><a href=\"https://business.libertymutualgroup.com/business-insurance/find-an-insurance-agent\">independent insurance agent</a><span> </span>today to learn more about your options.</p>\n<p style=\"text-align: left;\">To read the full article, click <a href=\"https://protectmybusiness.libertymutual.com/article/commercial-property-insurance-5-ways-manage-risks-upfront\">here</a>.</p>\n<p style=\"text-align: left;\"></p>\n</div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Commercial Property Insurance: 5 Ways to Manage Risks Upfront','','publish','closed','closed','','commercial-property-insurance-5-ways-to-manage-risks-upfront','','','2020-02-25 21:24:43','2020-02-25 21:24:43','',0,'http://smartinsurance.tips/?page_id=195',0,'page','',0),(156,1,'2020-01-25 00:34:28','2020-01-25 00:34:28','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" custom_padding=\"3px||0px|||\"]<div class=\"meta_wrap\">\n<div class=\"entry_meta\">\n<div class=\"date\"></div>\n</div>\n</div>\n<h1 class=\"sfnewsTitle\" data-sf-field=\"Title\" data-sf-ftype=\"ShortText\" style=\"text-align: center;\"><strong>How Much Should the Carrier Pay for Removing a Fallen Tree?</strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<p><img src=\"https://www.iamagazine.com/images/default-source/strategies/aae571ef8fa17ea4694b4aafa577602a6f8.jpg?sfvrsn=baf4be96_0\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></p>\n<p style=\"text-align: justify;\"></p>\n<p style=\"text-align: justify;\"></p>\n<p style=\"text-align: justify;\">A large tree falls on an insured’s roof due to strong winds. The cost to remove the tree was approximately $4,500, but the insurance carrier is limiting the amount of recovery to $1,000 due to Section III—Additional Coverages, Part A. Removal of Fallen Trees.</p>\n<p style=\"text-align: justify;\"><strong>Q:<span> </span></strong>I contend that the removal of the tree from the dwelling should be paid as part of the claim because the removal of fallen trees section of the policy is specifically for \"removing any fallen tree from the grounds appurtenant to your principal residence.\" Should the carrier cover the entire cost of removing the fallen tree from the insured’s roof?</p>\n<p style=\"text-align: justify;\"><strong>Response 1:<span> </span></strong>To only pay $1,000 to remove the tree from the house would violate its own policy saying that it will pay all costs to make reasonable repairs to protect property from further damage. You can’t make repairs without removing the tree.</p>\n<p style=\"text-align: justify;\">The policy pays whatever it takes to get the tree off the roof. The cost of removing the tree from the premises once on the ground would be subject to the $1,000 removal limit. Move this up the line to a supervisor.</p>\n<p style=\"text-align: justify;\"><strong>Response 2:</strong><span> </span>Something tells me this will end up as a question for a lawyer because the limitation does apply. But the question is: What does it apply to?</p>\n<p style=\"text-align: justify;\">One interpretation is that the total repair bill consists of three elements: the cost of repairing the roof, the cost of removing the tree from the roof and the cost of disposing of the tree after it\'s been removed from contact with the roof. I would argue that the cost of removing the tree from the roof is part of the Coverage A loss, just like the cost of repairing the roof boards and shingles.</p>\n<p style=\"text-align: justify;\">It’s comparable to ice or snow damage. In order to make repairs to the roof and prevent total collapse, it\'s necessary to shovel ice or snow off the roof. The cost is a necessary part of the roof repair and should be included in the Coverage A loss up to the Coverage A limit. Once the tree is off the house, the cost of cutting it up and hauling it away is subject to the sublimit.</p>\n<p>If my argument holds up, somebody needs to parse the $4,500 bill for the tree removal into the roof repair and tree removal elements. The contractor or contractors involved should be able to allocate their time to these tasks to give the adjuster some numbers to work with. The sublimit for tree removal may not be large enough to cover that element, but at least a portion of the $4,500 cost should be included in the roof repair bill. </p>\n<p>If the $4,500 bill includes the cost of grinding out the stump, that part belongs in the tree removal portion of the claim.</p>\n<p style=\"text-align: justify;\"><strong>Response 3:<span> </span></strong>An additional coverage that can apply is \"Reasonable Repairs.” The cost to remove the tree from the house is a reasonable temporary measure to prevent further loss to the home from having the tree on it. This question has been litigated. If the insurer subscribes to<span> </span><a href=\"https://www.plrb.org/\" target=\"_blank\" rel=\"noopener noreferrer\">Property Loss Research Bureau</a><span> </span>(PLRB), request they submit the question to them. The last PLRB opinion I saw confirmed the case law that supports this interpretation.  </p>\n<p style=\"text-align: justify;\"><strong>Response 4:</strong><span> </span>I agree with you. If the tree fell on the roof, the cost to access the damaged roof and make repairs requires the tree to be moved from the roof first. That is not an additional coverage, it is an expense related to repairing the covered roof. </p>\n<p style=\"text-align: justify;\">Most tree removal firms break down their bill into two parts: “lift and drop,” and two, “cut up and haul away.” The second part is subject to the additional coverage limit. And, by the way, if this was only one tree it is subject to a $500 limit, not $1000. </p>\n<p style=\"text-align: justify;\"><strong>Response 5:</strong><span> </span>The adjuster doesn’t appear to understand how the policy works. Here’s another article from the Big “I” Virtual University detailing<span> </span><a href=\"https://www.independentagent.com/vu/Insurance/Personal-Lines/Homeowners/Property-Coverages/FacultyDebrisTrees.aspx\" target=\"_blank\" rel=\"noopener noreferrer\">answers to similar questions</a>.</p>\n<p style=\"text-align: justify;\">You can see the original post <a href=\"https://www.iamagazine.com/strategies/read/2020/01/10/how-much-should-the-carrier-pay-for-removing-a-fallen-tree\">here</a>.<em></em></p>\n<p style=\"text-align: justify;\"><em></em></p>\n</div>\n<div id=\"mntl-sc-block_1-0-44\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\" style=\"text-align: justify;\"></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','How Much Should the Carrier Pay for Removing a Fallen Tree?','','publish','closed','closed','','how-much-should-the-carrier-pay-for-removing-a-fallen-tree','','','2020-01-25 00:34:28','2020-01-25 00:34:28','',0,'http://smartinsurance.tips/?page_id=156',0,'page','',0),(68,1,'2019-12-22 01:48:08','0000-00-00 00:00:00','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_post_title _builder_version=\"4.0.9\" text_orientation=\"center\"][/et_pb_post_title][et_pb_text admin_label=\"text block 1\" _builder_version=\"4.0.9\"]<p style=\"text-align: justify;\">Your content goes here. 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You can also style every aspect of this content in the module Design settings and even apply custom CSS to this text in the module Advanced settings.</p>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_image src=\"http://smartinsurance.tips/wp-content/uploads/2019/12/Screenshot-2019-11-28-at-9.59.07-AM-1024x576.png\" align=\"center\" force_fullwidth=\"on\" admin_label=\"post image\" _builder_version=\"4.0.9\" background_color=\"#e0ba67\" hover_enabled=\"0\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\" text_font=\"||||||||\" text_orientation=\"justified\"]<p style=\"text-align: justify;\">Your content goes here. Edit or remove this text inline or in the module Content settings. You can also style every aspect of this content in the module Design settings and even apply custom CSS to this text in the module Advanced settings. Your content goes here. Edit or remove this text inline or in the module Content settings. You can also style every aspect of this content in the module Design settings and even apply custom CSS to this text in the module Advanced settings.</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Article 3','','inherit','closed','closed','','72-revision-v1','','','2019-12-22 01:50:53','2019-12-22 01:50:53','',72,'http://smartinsurance.tips/72-revision-v1/',0,'revision','',0),(1232,1,'2021-03-22 18:48:12','2021-03-22 18:48:12','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 class=\"post-title entry-title\" style=\"text-align: center;\"><span style=\"color: #000000;\"><strong>Best Banks of 2021</strong></span></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\">\n<div id=\"article-intro_1-0\" class=\"comp article-content__description article-container expert-content article-intro prm-sc-page mntl-sc-page mntl-block\">\n<p class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\"><span style=\"color: #000000;\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2021/03/Untitled_Clipping_032321_025422_AM-1024x684.jpg\" width=\"641\" height=\"428\" alt=\"\" class=\"wp-image-1236 aligncenter size-large\" /></span></p>\n<p id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\"><span style=\"color: #000000;\">If you\'re like most Americans, your bank lies at the heart of your personal finances. Your checking account is the place money comes in and goes out, and a savings account helps you stash funds away for an emergency or big savings goal. Choosing a bank is not always easy, and what\'s best for you may be different than what\'s best for someone else.</span></p>\n<p id=\"mntl-sc-block_1-0-1\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Look for the features that matter the most to you: If you\'re a frequent traveler, you might want a bank that reimburses you for other banks\' ATM fees. If you work for tips, then you\'ll want a bank that takes cash deposits. And in the era of online banking, some institutions don\'t even exist as brick-and-mortar branches, so that\'s a new factor to consider. </span></p>\n<p id=\"mntl-sc-block_1-0-2\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\"><span style=\"color: #000000;\">For many people, online banking is the primary way they manage their accounts, so you may want to look for a bank that offers bill pay, remote check deposits and basic self-service from your computer or a mobile app. Instant transfer services are another convenient feature to look for—if you want a cash-free way to send money to friends, be on the lookout for banks that offer products like Zelle, which allow you to instantly transfer funds to other accounts without an extra app (even better if you can send and receive without paying any fees).</span></p>\n<p id=\"mntl-sc-block_1-0-3\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Speaking of which, fees are a very important thing to look for before you open a new account. Many banks charge monthly maintenance fees unless you meet specific minimum balance or activity requirements. Be on the lookout for accounts with no monthly fees so you don’t have to worry about these types of charges.</span></p>\n<p id=\"mntl-sc-block_1-0-4\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Whether you\'re setting up a teen\'s first checking account, or just looking for a way to up the interest rate on your nest egg, we\'ve rounded up the best banks based on your potential needs and preferences. We partnered with the following banks to bring you the savings account offers in the table below. Under that, you\'ll find our editors\' picks for the best banks and why we chose them. All of the banks and credit unions listed are insured by the Federal Deposit Insurance Corporation or National Credit Union Administration.</span></p>\n<div id=\"mntl-sc-block_1-0-5\" class=\"comp mntl-sc-block--ma-rate-table--money-mma mntl-sc-block mntl-sc-block-tool mntl-block\" style=\"text-align: justify;\">\n<div id=\"ma-rate-table--money-mma_1-0\" class=\"comp ma-rate-table--money-mma mntl-block\"></div>\n</div>\n<p style=\"text-align: justify;\"><span class=\"heading-toc\" id=\"best-banks-of-2021\" style=\"color: #000000;\"></span></p>\n<h2 id=\"mntl-sc-block_1-0-6\" class=\"comp mntl-sc-block mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">Best Banks of 2021</span></h2>\n<ul id=\"mntl-sc-block_1-0-7\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\">\n<li><span style=\"color: #000000;\"><strong>Ally</strong>: Best Bank Overall</span></li>\n<li><span style=\"color: #000000;\"><strong>Chase</strong>: Best Bank for Customer Service</span></li>\n<li><span style=\"color: #000000;\"><strong>Wells Fargo</strong>: Best Bank for Teenagers</span></li>\n<li><span style=\"color: #000000;\"><strong>Simple</strong>: Best Bank for College Students</span></li>\n<li><span style=\"color: #000000;\"><strong>Capital One</strong>: Best Bank for Millennials</span></li>\n<li><span style=\"color: #000000;\"><strong>USAA</strong>: Best Bank for Military Members</span></li>\n<li><span style=\"color: #000000;\"><strong>Charles Schwab Bank</strong>: Best Bank for International Travelers</span></li>\n<li><span style=\"color: #000000;\"><strong>Capital One Spark Business</strong>: Best Bank for Small Businesses</span></li>\n</ul>\n</div>\n<div id=\"article-body_1-0\" class=\"comp article-body mntl-block\">\n<div id=\"article-body__left-nav_1-0\" class=\"comp left-nav article-body__left-nav mntl-block\" style=\"text-align: justify;\"></div>\n<div id=\"list-sc-item_1-0\" class=\"comp mntl-sc-list-item list-sc-item mntl-block\" style=\"text-align: justify;\">\n<div id=\"list-sc-item__container_1-0\" class=\"comp article-content__description article-container expert-content list-sc-item__container mntl-block\">\n<p><span class=\"heading-toc\" id=\"ally-best-bank-overall\" style=\"color: #000000;\"></span></p>\n<h2 id=\"mntl-sc-block_2-0\" class=\"comp mntl-sc-list-item-title mntl-sc-block mntl-sc-block-heading\"><span style=\"color: #000000;\">Ally: Best Bank Overall</span></h2>\n<p id=\"mntl-sc-block_2-0-1\" class=\"comp mntl-sc-block mntl-sc-block-html\"><span style=\"color: #000000;\">Our pick for the best overall bank is Ally. Ally is an online-only bank with industry-leading checking and savings account options. Due to a combination of good customer service, low fees, and high-interest rates, Ally is a winner.</span></p>\n<p id=\"mntl-sc-block_2-0-2\" class=\"comp mntl-sc-block mntl-sc-block-html\"><span style=\"color: #000000;\">Ally’s online checking account charges almost no fees and is packed with useful features. It even pays interest. For savings, Ally’s high yield account offers among the best interest rates in the industry.</span></p>\n<p id=\"mntl-sc-block_2-0-3\" class=\"comp mntl-sc-block mntl-sc-block-html\"><span style=\"color: #000000;\">Ally customers get access to online banking, mobile check deposits, up to a $10/month refund for other bank ATM fees, quick transfers with Zelle, and 24/7 customer service with access to a human.</span></p>\n<p id=\"mntl-sc-block_2-0-4\" class=\"comp mntl-sc-block mntl-sc-block-html\"><span style=\"color: #000000;\">The only downside: like all online banks, you can’t deposit cash. If you regularly receive cash or work in a job that involves getting paid in tips, Ally probably isn’t the best choice for you. For everyone else, however, Ally offers some compelling accounts with great service.</span></p>\n</div>\n</div>\n<div id=\"list-sc-item_1-0-1\" class=\"comp mntl-sc-list-item list-sc-item mntl-block\" style=\"text-align: justify;\">\n<div id=\"list-sc-item__container_1-0-1\" class=\"comp article-content__description article-container expert-content list-sc-item__container mntl-block\">\n<p><span class=\"heading-toc\" id=\"chase-best-bank-for-customer-service\" style=\"color: #000000;\"></span></p>\n<h2 id=\"mntl-sc-block_2-0-5\" class=\"comp mntl-sc-list-item-title mntl-sc-block mntl-sc-block-heading\"><span style=\"color: #000000;\">Chase: Best Bank for Customer Service</span></h2>\n<p id=\"mntl-sc-block_2-0-6\" class=\"comp mntl-sc-block mntl-sc-block-html\"><span style=\"color: #000000;\">Chase Bank ranked second in last year’s national J.D. Power National Bank Satisfaction Study and is one of two banks that received a perfect rating in the JDPower.com Power Circle Ratings. But for banks that operate in nearly every part of the country, Chase stands out as the best for customer service.</span></p>\n<p id=\"mntl-sc-block_2-0-7\" class=\"comp mntl-sc-block mntl-sc-block-html\"><span style=\"color: #000000;\">Unlike most of the banks on this list that have an online-only focus, Chase offers one of the biggest networks of branch locations in the United States with over 5,000 locations. And due to its size, Chase offers accounts for pretty much everyone. That includes checking, savings, mortgage, credit card, and investment accounts.</span></p>\n<p id=\"mntl-sc-block_2-0-8\" class=\"comp mntl-sc-block mntl-sc-block-html\"><span style=\"color: #000000;\">Chase is one of a few financial institutions that really let you do all of your banking under one roof, and that helps simplify your banking experience (a plus for many banking customers).</span></p>\n<p id=\"mntl-sc-block_2-0-9\" class=\"comp mntl-sc-block mntl-sc-block-html\"><span style=\"color: #000000;\">The biggest downside of Chase is that, like most large brick-and-mortar banks, it charges a lot of fees and offers pitifully low-interest rates on savings accounts. But if you keep a certain minimum balance or meet activity requirements, you can avoid most fees.</span></p>\n<p id=\"mntl-sc-block_2-0-10\" class=\"comp mntl-sc-block mntl-sc-block-html\"><span style=\"color: #000000;\">Want to learn more? Check out our full review of Chase Bank.</span></p>\n</div>\n</div>\n<div id=\"list-sc-item_1-0-2\" class=\"comp mntl-sc-list-item list-sc-item mntl-block\" style=\"text-align: justify;\">\n<div id=\"list-sc-item__container_1-0-2\" class=\"comp article-content__description article-container expert-content list-sc-item__container mntl-block\">\n<p><span class=\"heading-toc\" id=\"wells-fargo-best-bank-for-teenagers\" style=\"color: #000000;\"></span></p>\n<h2 id=\"mntl-sc-block_2-0-11\" class=\"comp mntl-sc-list-item-title mntl-sc-block mntl-sc-block-heading\"><span style=\"color: #000000;\">Wells Fargo: Best Bank for Teenagers</span></h2>\n<p id=\"mntl-sc-block_2-0-12\" class=\"comp mntl-sc-block mntl-sc-block-html\"><span style=\"color: #000000;\">Teens are in a position to learn important lessons that can influence their long-term financial well being — and it starts with learning how to responsibly use a bank account. That requires access to a bank branch, a big network of ATMs, and a good place to keep money from part-time jobs.</span></p>\n<p id=\"mntl-sc-block_2-0-13\" class=\"comp mntl-sc-block mntl-sc-block-html\"><span style=\"color: #000000;\">Wells Fargo has certainly found itself in the midst of multiple scandals recently, but it still stands out as the best bank for teens thanks to its 6,000 branches and 13,000 ATMs.</span></p>\n<p id=\"mntl-sc-block_2-0-14\" class=\"comp mntl-sc-block mntl-sc-block-html\"><span style=\"color: #000000;\">Their teen checking account requires a $25 opening deposit, but has no monthly fee. However, beware of overdraft and other fees once you open the account. While it is a great account for new learners, it is still a real bank account with real fees.</span></p>\n<p id=\"mntl-sc-block_2-0-15\" class=\"comp mntl-sc-block mntl-sc-block-html\"><span style=\"color: #000000;\">You can also read our full review of Wells Fargo.</span></p>\n</div>\n</div>\n<div id=\"list-sc-item_1-0-3\" class=\"comp mntl-sc-list-item list-sc-item mntl-block\" style=\"text-align: justify;\">\n<div id=\"list-sc-item__container_1-0-3\" class=\"comp article-content__description article-container expert-content list-sc-item__container mntl-block\">\n<p><span class=\"heading-toc\" id=\"simple-best-bank-for-college-students\" style=\"color: #000000;\"></span></p>\n<h2 id=\"mntl-sc-block_2-0-16\" class=\"comp mntl-sc-list-item-title mntl-sc-block mntl-sc-block-heading\"><span style=\"color: #000000;\">Simple: Best Bank for College Students</span></h2>\n<p id=\"mntl-sc-block_2-0-17\" class=\"comp mntl-sc-block mntl-sc-block-html\"><span style=\"color: #000000;\">College students can easily fall into the trap of poor financial decisions, whether it\'s racking up big credit card debt or student loans without a full understanding of the consequences.</span></p>\n<p id=\"mntl-sc-block_2-0-18\" class=\"comp mntl-sc-block mntl-sc-block-html\"><span style=\"color: #000000;\">Simple is great for college students because it has budgeting built into its online and mobile banking apps. It also doesn\'t charge any fees. (Really!) The only fee you might pay is for using an ATM outside of the 40,000 ATMs in the Allpoint network and a small fee from Visa when using your debit card outside of the United States.</span></p>\n<p id=\"mntl-sc-block_2-0-19\" class=\"comp mntl-sc-block mntl-sc-block-html\"><span style=\"color: #000000;\">For digital natives, the mobile-first banking experience is easy to navigate and very user-friendly. And the goal-setting and safe-to-spend features should keep even distracted college students out of financial trouble.</span></p>\n<p id=\"mntl-sc-block_2-0-20\" class=\"comp mntl-sc-block mntl-sc-block-html\"><span style=\"color: #000000;\">Want some more information? Read our full review of Simple.</span></p>\n</div>\n</div>\n<div id=\"list-sc-item_1-0-4\" class=\"comp mntl-sc-list-item list-sc-item mntl-block\" style=\"text-align: justify;\">\n<div id=\"list-sc-item__container_1-0-4\" class=\"comp article-content__description article-container expert-content list-sc-item__container mntl-block\">\n<p><span class=\"heading-toc\" id=\"capital-one-best-bank-for-millennials\" style=\"color: #000000;\"></span></p>\n<h2 id=\"mntl-sc-block_2-0-21\" class=\"comp mntl-sc-list-item-title mntl-sc-block mntl-sc-block-heading\"><span style=\"color: #000000;\">Capital One: Best Bank for Millennials</span></h2>\n<p id=\"mntl-sc-block_2-0-22\" class=\"comp mntl-sc-block mntl-sc-block-html\"><span style=\"color: #000000;\">Capital One 360 Checking and 360 Savings are both best-in-class accounts. Low fees, good interest rates, and a focus on a high-tech experience all make Capital One a top overall bank, and our number one pick for millennials. This bank was also our runner-up for the best bank overall, so it may be a good choice beyond the millennial demographic.</span></p>\n<p id=\"mntl-sc-block_2-0-23\" class=\"comp mntl-sc-block mntl-sc-block-html\"><span style=\"color: #000000;\">If you have an overdraft, you can choose to have it funded from a linked account or turned down automatically for no fee. This bank also offers free ATM use at Allpoint and Capital One ATMs. And, like the 360 Checking account, 360 Savings offers among the best interest rates in the industry with no minimum balance or activity requirements. If you hate fees and want a bank account that just works, Capital One is a good choice.</span></p>\n</div>\n</div>\n<div id=\"list-sc-item_1-0-5\" class=\"comp mntl-sc-list-item list-sc-item mntl-block\" style=\"text-align: justify;\">\n<div id=\"list-sc-item__container_1-0-5\" class=\"comp article-content__description article-container expert-content list-sc-item__container mntl-block\">\n<p><span class=\"heading-toc\" id=\"usaa-best-bank-for-military-members\" style=\"color: #000000;\"></span></p>\n<h2 id=\"mntl-sc-block_2-0-24\" class=\"comp mntl-sc-list-item-title mntl-sc-block mntl-sc-block-heading\"><span style=\"color: #000000;\">USAA: Best Bank for Military Members</span></h2>\n<p id=\"mntl-sc-block_2-0-25\" class=\"comp mntl-sc-block mntl-sc-block-html\"><span style=\"color: #000000;\">What started as the United Services Automobile Association is now the best bank in the country for military families and veterans. Because military members are likely to move often and have some unique needs and challenges, going to a military-specific bank may be a smart choice, particularly for anyone on active duty.</span></p>\n<p id=\"mntl-sc-block_2-0-26\" class=\"comp mntl-sc-block mntl-sc-block-html\"><span style=\"color: #000000;\">USAA also offers very good insurance, so if you do become a member for banking, don’t overlook options for home, auto, and other insurance you may need. You may be able to get a better policy at a better price than non-military can elsewhere.</span></p>\n<p id=\"mntl-sc-block_2-0-27\" class=\"comp mntl-sc-block mntl-sc-block-html\"><span style=\"color: #000000;\">For banking, USAA offers a range of checking and savings accounts to meet your needs. The basic free checking has no monthly fees or minimum balance requirements. Accounts also include some of the latest online banking features including mobile deposits, mobile wallet support, and fast transfers with Zelle.</span></p>\n</div>\n</div>\n<div id=\"list-sc-item_1-0-6\" class=\"comp mntl-sc-list-item list-sc-item mntl-block\" style=\"text-align: justify;\">\n<div id=\"list-sc-item__container_1-0-6\" class=\"comp article-content__description article-container expert-content list-sc-item__container mntl-block\">\n<p><span class=\"heading-toc\" id=\"charles-schwab-bank-best-bank-for-international-travelers\" style=\"color: #000000;\"></span></p>\n<h2 id=\"mntl-sc-block_2-0-28\" class=\"comp mntl-sc-list-item-title mntl-sc-block mntl-sc-block-heading\"><span style=\"color: #000000;\">Charles Schwab Bank: Best Bank for International Travelers</span></h2>\n<p id=\"mntl-sc-block_2-0-29\" class=\"comp mntl-sc-block mntl-sc-block-html\"><span style=\"color: #000000;\">Charles Schwab is best known for its brokerage business, but this finance company does a lot more than stocks and bonds. Charles Schwab offers a full-featured online bank complete with checking and savings account options.</span></p>\n<p id=\"mntl-sc-block_2-0-30\" class=\"comp mntl-sc-block mntl-sc-block-html\"><span style=\"color: #000000;\">Schwab Bank is convenient for anyone with an existing Schwab relationship, but the checking account offers a big draw to anyone who loves to travel. Charles Schwab charges no ATM fees and reimburses all other bank ATM fees from anywhere in the world. You can use your card in New York or New Delhi without paying any fees.</span></p>\n<p id=\"mntl-sc-block_2-0-31\" class=\"comp mntl-sc-block mntl-sc-block-html\"><span style=\"color: #000000;\">Schwab Bank accounts charge no monthly fees and low fees for some irregular activity like sending a wire. Unlike most online banks, you can also visit any Schwab branch to deposit a check (although with mobile deposit, you probably won’t need to visit a branch).</span></p>\n<p id=\"mntl-sc-block_2-0-32\" class=\"comp mntl-sc-block mntl-sc-block-html\"><span style=\"color: #000000;\">Schwab is a top-rated low-fee brokerage as well, and a linked brokerage account is required to open an Investor Checking account. With the amazing customer service and a good selection of account options, you may want to consolidate all of your banking and investing under the Schwab umbrella.</span></p>\n<p id=\"mntl-sc-block_2-0-33\" class=\"comp mntl-sc-block mntl-sc-block-html\"><span style=\"color: #000000;\">You can also read through our full review of Charles Schwab Bank. </span></p>\n</div>\n</div>\n<div id=\"list-sc-item_1-0-7\" class=\"comp mntl-sc-list-item list-sc-item mntl-block\" style=\"text-align: justify;\">\n<div id=\"list-sc-item__container_1-0-7\" class=\"comp article-content__description article-container expert-content list-sc-item__container mntl-block\">\n<p><span class=\"heading-toc\" id=\"capital-one-spark-business-best-bank-for-small-businesses\" style=\"color: #000000;\"></span></p>\n<h2 id=\"mntl-sc-block_2-0-34\" class=\"comp mntl-sc-list-item-title mntl-sc-block mntl-sc-block-heading\"><span style=\"color: #000000;\">Capital One Spark Business: Best Bank for Small Businesses</span></h2>\n<p id=\"mntl-sc-block_2-0-35\" class=\"comp mntl-sc-block mntl-sc-block-html\"><span style=\"color: #000000;\">Business bank accounts tend to come with far more fees than personal accounts, but Capital One Spark Business changes that. Spark Business offers checking and savings accounts for businesses with almost no fees for its online banking.</span></p>\n<p id=\"mntl-sc-block_2-0-36\" class=\"comp mntl-sc-block mntl-sc-block-html\"><span style=\"color: #000000;\">There have been some known bugs in the signup process, so new checking accounts are temporarily suspended. Right now it is new savings only. But they should be re-opening new checking accounts any time, so keep an eye out regarding those changes. </span></p>\n</div>\n</div>\n<div id=\"article-outro_1-0\" class=\"comp article-container article-outro mntl-block\">\n<div id=\"article-outro__left-nav_1-0\" class=\"comp left-nav article-outro__left-nav mntl-block\" style=\"text-align: justify;\"></div>\n<div id=\"article-outro__content_1-0\" class=\"comp expert-content article-outro__content prm-sc-page mntl-sc-page mntl-block\">\n<p style=\"text-align: justify;\"><span class=\"heading-toc\" id=\"what-are-the-different-types-of-banks\" style=\"color: #000000;\"></span></p>\n<h2 id=\"mntl-sc-block_3-0\" class=\"comp mntl-sc-block mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">What Are the Different Types of Banks?</span></h2>\n<p id=\"mntl-sc-block_3-0-1\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Banks include many types of financial institutions. The most popular types of banks include: </span></p>\n<ul id=\"mntl-sc-block_3-0-2\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\">\n<li><span style=\"color: #000000;\">Central banks</span></li>\n<li><span style=\"color: #000000;\">Commercial banks</span></li>\n<li><span style=\"color: #000000;\">Retail banks</span></li>\n<li><span style=\"color: #000000;\">Investment banks</span></li>\n<li><span style=\"color: #000000;\">Private banks</span></li>\n<li><span style=\"color: #000000;\">Credit unions</span></li>\n<li><span style=\"color: #000000;\">Online banks</span></li>\n</ul>\n<p id=\"mntl-sc-block_3-0-3\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\"><span style=\"color: #000000;\">When most people refer to banks, they think of retail banks or credit unions, which both specialize in targeting consumers for their personal finance needs. At these types of banks, consumers can keep their money safe, save for a specific purpose, get financial advice, and apply for loans. </span></p>\n<p style=\"text-align: justify;\"><span class=\"heading-toc\" id=\"what-services-does-a-bank-offer\" style=\"color: #000000;\"></span></p>\n<h2 id=\"mntl-sc-block_3-0-4\" class=\"comp mntl-sc-block mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">What Services Does a Bank Offer?</span></h2>\n<p id=\"mntl-sc-block_3-0-5\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\"><span style=\"color: #000000;\">The services a bank offers depends on the type of bank. A bank may offer anything from an account to keep your money secure to a loan to buy a car or a house. If you’re looking to invest in financial instruments like stocks, you’ll need an investment bank. If you’re a business owner looking to get a loan or an account for your business, you’ll need to find a commercial bank. </span></p>\n<p style=\"text-align: justify;\"><span class=\"heading-toc\" id=\"how-do-i-decide-what-bank-to-use\" style=\"color: #000000;\"></span></p>\n<h2 id=\"mntl-sc-block_3-0-6\" class=\"comp mntl-sc-block mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">How Do I Decide What Bank to Use?</span></h2>\n<p id=\"mntl-sc-block_3-0-7\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Choosing the right bank for you depends on what type of bank you need. Once you know you’re looking for a retail bank, for example, then you’ll need to find one that is convenient to you, has the experience to service your specific needs, and has a history of successful money management. It’s important to feel confident in the bank you’re working with. You should also consider the interest rates on any products you’re interested in. If you’re looking for a CD, compare CD rates to help you decide which bank to work with.  </span></p>\n<p style=\"text-align: justify;\"><span class=\"heading-toc\" id=\"how-much-do-bank-services-cost\" style=\"color: #000000;\"></span></p>\n<h2 id=\"mntl-sc-block_3-0-8\" class=\"comp mntl-sc-block mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">How Much Do Bank Services Cost?</span></h2>\n<p id=\"mntl-sc-block_3-0-9\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\"><span style=\"color: #000000;\">Bank services are typically affordable. For an individual opening a checking or savings account, you may pay a monthly fee, but many banks waive the fee if you meet criteria like maintaining a set account balance. For services like depositing a check or withdrawing funds, there’s no additional fee at most institutions. </span></p>\n<p id=\"mntl-sc-block_3-0-10\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\"><span style=\"color: #000000;\">If you need a loan, shop several banks to find the bank offering the lowest interest rates and fees. Most traditional bank services are included when you open an account of any kind at a bank. </span></p>\n<p style=\"text-align: justify;\"><span class=\"heading-toc\" id=\"how-we-chose-the-best-banks\" style=\"color: #000000;\"></span></p>\n<h2 id=\"mntl-sc-block_3-0-11\" class=\"comp mntl-sc-block mntl-sc-block-heading\" style=\"text-align: justify;\"><span class=\"mntl-sc-block-heading__text\" style=\"color: #000000;\">How We Chose the Best Banks</span></h2>\n<p id=\"mntl-sc-block_3-0-12\" class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\"><span style=\"color: #000000;\">We looked at over two dozen of the best banks nationwide and narrowed the list down to the best eight based on several factors and services. The factors that helped us decide on the best included the experience of the bank, the services each offers, how much their fees are, what the APY (Annual Percentage Yield) is on a standard checking and savings account, and the account minimums to earn interest. Most of the best banks have no minimum balance requirement and have an APY above 0.30%. </span></p>\n<p class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\"><span style=\"color: #000000;\">To read the full article, click</span> <a href=\"https://www.thebalance.com/best-banks-4165386\">here</a><span style=\"color: #000000;\">.</span></p>\n<p class=\"comp mntl-sc-block mntl-sc-block-html\" style=\"text-align: justify;\"><span style=\"color: #000000;\"></span></p>\n</div>\n</div>\n</div>\n</div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Best Banks of 2021','','publish','closed','closed','','best-banks-of-2021','','','2021-03-22 18:57:53','2021-03-22 18:57:53','',0,'http://smartinsurance.tips/?page_id=1232',0,'page','',0),(83,1,'2019-12-23 19:23:49','2019-12-23 19:23:49','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 style=\"text-align: center;\"><strong><a href=\"https://www.millerpublicadjusters.com/free-property-insurance-claim-advice-blog/how-your-credit-score-impacts-your-property-insurance-premium\"><span id=\"hs_cos_wrapper_name\" class=\"hs_cos_wrapper hs_cos_wrapper_meta_field hs_cos_wrapper_type_text\" data-hs-cos-general-type=\"meta_field\" data-hs-cos-type=\"text\">How Your Credit Score Impacts Your Property Insurance Premium</span></a></strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text admin_label=\"text block 1\" _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div id=\"wrap\">\n<p><img src=\"http://smartinsurance.tips/wp-content/uploads/2019/12/miller.png\" width=\"768\" height=\"440\" alt=\"\" class=\"wp-image-86 aligncenter size-full\" /></p>\n<p>&nbsp;</p>\n<p>When purchasing or renewing a homeowner’s insurance policy, your credit score plays an important role in your premium costs, and even in the ability to buy an insurance policy. Most insurance carriers use a <a href=\"https://www.naic.org/cipr_topics/topic_credit_based_insurance_score.htm\">credit-based insurance score</a> to calculate your premium payment. Here is what you should know about how insurance companies use your credit score and how you can improve it.</p>\n<p>&nbsp;</p>\n<p><strong>What Is a Credit-Based Insurance Score?</strong></p>\n<p>While credit-based insurance scores share traits with standard credit scores, they are not calculated the same way. Insurance scores consider only some of the factors that go into a regular credit score.</p>\n<p>&nbsp;</p>\n<p>Beginning in the 1990s, insurance companies began using credit scores to predict risk and calculate premium costs. According to the credit-scoring agency, <a href=\"https://ficoscore.com/education/\">FICO</a>, about 85 percent of insurance companies use credit-based scores when determining premium rates. Some reports show that people with bad credit can pay nearly twice as much for home insurance, compared to people with good credit. If your credit is really bad, you could be <a href=\"https://quotewizard.com/home-insurance/unable-to-get-homeowners-insurance\">denied a policy</a>.</p>\n<p>&nbsp;</p>\n<p>Two important factors insurance companies use to figure your credit score are payment history and hard inquiries. Hard inquiries involve lenders, like when you apply for a credit card or a loan. A good way to keep hard inquiries from hurting your credit score is to make all your requests within a 45-day period. Within this period, they treat all inquiries as one.</p>\n<p>&nbsp;</p>\n<p><strong>What Determines Your Credit Score?</strong><br /> Credit scores aren\'t an exact science. Lenders and credit agencies use their own metrics. For example,<a href=\"https://personalreports.lexisnexis.com/\"> LexisNexis Property Insurance Scores uses this ranking</a>:</p>\n<p>&nbsp;</p>\n<p>Good: 776 to 997</p>\n<p>Average: 626 to 775</p>\n<p>Below Average: 501 to 625</p>\n<p>Less Desirable: Under 500</p>\n<p>&nbsp;</p>\n<p>Even though <a href=\"https://www.credit.com/credit-scores/what-is-a-good-credit-score/\">credit scores can vary between agencies</a>, most are similar to the above ranges.</p>\n<p>&nbsp;</p>\n<p><a href=\"https://www.creditkarma.com/advice/i/what-affects-your-credit-scores/\">Other factors that affect your credit score</a> include level of debt, length and usage of your credit accounts, and your credit limits. The three credit bureaus, <a href=\"https://www.experian.com/\">Experian</a>, <a href=\"https://www.equifax.com/personal/\">Equifax</a> and <a href=\"https://www.transunion.com/\">TransUnion</a>, rate these scores in different ways. Where one company ranks payment history as 40 percent of your score, another may only factor it in at 30 percent. Another difference is that things like your work or income history don’t affect your insurance score like they do your credit score.</p>\n<p>&nbsp;</p>\n<p>If you want to know if your insurance company used your credit report, you can contact your agent and ask them. If your credit report had a bad effect on your rate, the <a href=\"https://www.consumer.ftc.gov/articles/pdf-0096-fair-credit-reporting-act.pdf\">Fair Credit Reporting Act Action Notification</a> should alert you.</p>\n<p>&nbsp;</p>\n<p>You should also be aware of your state\'s laws regarding the use of credit reports to calculate rates. In Maryland and Hawaii, for example, insurers are legally prohibited from using your score to raise your homeowner’s premium. Other states may allow that, but they won\'t use your credit report to drop you or deny coverage.</p>\n<p>&nbsp;</p>\n<p><strong>How to Improve Your Credit Score</strong></p>\n<p>There are simple steps you can take to improve your credit score. A great starting point is to get your debt usage under control. As a rule of thumb, keep your usage to 30 percent or less of your total available credit.</p>\n<p>&nbsp;</p>\n<p>You\'ll also want to check and make sure your credit limit is fully reported. It could affect your rates if the credit bureau runs a background check and finds a blank spot for your card\'s credit limit. Agencies only use reports with known credit limits as factors in insurance scores.</p>\n<p>&nbsp;</p>\n<p>Another way to improve your credit score is to have a good grip on your payment history. Pay your bills on time and dispute any errors in your account. Many credit card companies will waive a one-time mistake. Try to make large payments when possible. Not many people can wipe out all of their debt at one time, but even if you can pay your balance down 10 percent each payment, you\'ll see some good changes in your credit score.</p>\n<p>&nbsp;</p>\n<p>You might see a lot of sites offering free credit reports, but most of them are not free. You can check your credit report once a year at no cost at <a href=\"https://www.annualcreditreport.com/index.action\">annualcreditreport.com</a>. Equifax, Experian and Transunion created the site jointly to comply with the <a href=\"https://www.ftc.gov/enforcement/rules/rulemaking-regulatory-reform-proceedings/fair-credit-reporting-act\">Fair Credit Reporting Act</a>. You can get your credit report from all three of the major bureaus for free and without hurting your credit score. This allows you to make sure your report is accurate. Credit report errors are common. Being aware of your credit status can help avoid them.</p>\n<p>&nbsp;</p>\n<p>Another option, if you feel your home insurance rates are too high due to your credit score, is to <a href=\"http://www.quotewizard.com/\">shop around</a>. When insurers look at someone\'s credit-based insurance score, it\'s considered a soft inquiry. Soft inquiries do not hurt your credit score like hard inquiries can, so looking at what different agencies have to offer you is in your favor.</p>\n<p>&nbsp;</p>\n<p>To read the<span> </span><a href=\"https://www.millerpublicadjusters.com/free-property-insurance-claim-advice-blog/how-your-credit-score-impacts-your-property-insurance-premium\">entire article please click here.</a></p>\n</div>\n<p>&nbsp;</p>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][/et_pb_column][/et_pb_row][/et_pb_section]','How Your Credit Score Impacts Your Property Insurance Premium','','publish','closed','closed','','how-your-credit-score-impacts-your-property-insurance-premium','','','2019-12-23 19:59:39','2019-12-23 19:59:39','',0,'http://smartinsurance.tips/?page_id=83',0,'page','',0),(84,1,'2019-12-23 18:11:32','2019-12-23 18:11:32','<!-- wp:divi/placeholder /-->','','','inherit','closed','closed','','83-revision-v1','','','2019-12-23 18:11:32','2019-12-23 18:11:32','',83,'http://smartinsurance.tips/83-revision-v1/',0,'revision','',0),(184,1,'2020-01-27 23:49:17','2020-01-27 23:49:17','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][/et_pb_column][/et_pb_row][/et_pb_section]','articles','','inherit','closed','closed','','36-revision-v1','','','2020-01-27 23:49:17','2020-01-27 23:49:17','',36,'http://smartinsurance.tips/36-revision-v1/',0,'revision','',0),(80,1,'2019-12-22 20:57:05','2019-12-22 20:57:05','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_post_title _builder_version=\"4.0.9\" text_orientation=\"center\" hover_enabled=\"0\"][/et_pb_post_title][et_pb_text admin_label=\"text block 1\" _builder_version=\"4.0.9\"]<p style=\"text-align: justify;\">Your content goes here. Edit or remove this text inline or in the module Content settings. You can also style every aspect of this content in the module Design settings and even apply custom CSS to this text in the module Advanced settings.Your content goes here. Edit or remove this text inline or in the module Content settings. You can also style every aspect of this content in the module Design settings and even apply custom CSS to this text in the module Advanced settings.Your content goes here. Edit or remove this text inline or in the module Content settings. You can also style every aspect of this content in the module Design settings and even apply custom CSS to this text in the module Advanced settings.Your content goes here. Edit or remove this text inline or in the module Content settings. You can also style every aspect of this content in the module Design settings and even apply custom CSS to this text in the module Advanced settings.</p>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\" hover_enabled=\"0\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text admin_label=\"text block 1\" _builder_version=\"4.0.9\"]<p style=\"text-align: justify;\">Your content goes here. Edit or remove this text inline or in the module Content settings. You can also style every aspect of this content in the module Design settings and even apply custom CSS to this text in the module Advanced settings.Your content goes here. Edit or remove this text inline or in the module Content settings. You can also style every aspect of this content in the module Design settings and even apply custom CSS to this text in the module Advanced settings.Your content goes here. Edit or remove this text inline or in the module Content settings. You can also style every aspect of this content in the module Design settings and even apply custom CSS to this text in the module Advanced settings.Your content goes here. Edit or remove this text inline or in the module Content settings. You can also style every aspect of this content in the module Design settings and even apply custom CSS to this text in the module Advanced settings.</p>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_image src=\"http://smartinsurance.tips/wp-content/uploads/2019/12/Screenshot-2019-11-28-at-9.59.07-AM-1024x576.png\" align=\"center\" force_fullwidth=\"on\" admin_label=\"post image\" _builder_version=\"4.0.9\" background_color=\"#e0ba67\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<p style=\"text-align: justify;\">Your content goes here. Edit or remove this text inline or in the module Content settings. You can also style every aspect of this content in the module Design settings and even apply custom CSS to this text in the module Advanced settings. Your content goes here. Edit or remove this text inline or in the module Content settings. You can also style every aspect of this content in the module Design settings and even apply custom CSS to this text in the module Advanced settings.</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','articles','','inherit','closed','closed','','36-revision-v1','','','2019-12-22 20:57:05','2019-12-22 20:57:05','',36,'http://smartinsurance.tips/36-revision-v1/',0,'revision','',0),(86,1,'2019-12-23 19:22:12','2019-12-23 19:22:12','','miller','','inherit','open','closed','','miller','','','2019-12-23 19:22:12','2019-12-23 19:22:12','',0,'http://smartinsurance.tips/wp-content/uploads/2019/12/miller.png',0,'attachment','image/png',0),(88,1,'2019-12-23 19:27:21','2019-12-23 19:27:21','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1><a href=\"https://www.millerpublicadjusters.com/free-property-insurance-claim-advice-blog/how-your-credit-score-impacts-your-property-insurance-premium\"><span id=\"hs_cos_wrapper_name\" class=\"hs_cos_wrapper hs_cos_wrapper_meta_field hs_cos_wrapper_type_text\" data-hs-cos-general-type=\"meta_field\" data-hs-cos-type=\"text\">How Your Credit Score Impacts Your Property Insurance Premium</span></a></h1>\n[/et_pb_text][et_pb_image _builder_version=\"4.0.9\" src=\"http://smartinsurance.tips/wp-content/uploads/2019/12/miller.png\" hover_enabled=\"0\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column _builder_version=\"4.0.9\" type=\"4_4\"][et_pb_text admin_label=\"text block 1\" _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div id=\"wrap\">\n<p>When purchasing or renewing a homeowner’s insurance policy, your credit score plays an important role in your premium costs, and even in the ability to buy an insurance policy. Most insurance carriers use a <a href=\"https://www.naic.org/cipr_topics/topic_credit_based_insurance_score.htm\">credit-based insurance score</a> to calculate your premium payment. Here is what you should know about how insurance companies use your credit score and how you can improve it.</p>\n<p>&nbsp;</p>\n<p><strong>What Is a Credit-Based Insurance Score?</strong></p>\n<p>While credit-based insurance scores share traits with standard credit scores, they are not calculated the same way. Insurance scores consider only some of the factors that go into a regular credit score.</p>\n<p>&nbsp;</p>\n<p>Beginning in the 1990s, insurance companies began using credit scores to predict risk and calculate premium costs. According to the credit-scoring agency, <a href=\"https://ficoscore.com/education/\">FICO</a>, about 85 percent of insurance companies use credit-based scores when determining premium rates. Some reports show that people with bad credit can pay nearly twice as much for home insurance, compared to people with good credit. If your credit is really bad, you could be <a href=\"https://quotewizard.com/home-insurance/unable-to-get-homeowners-insurance\">denied a policy</a>.</p>\n<p>&nbsp;</p>\n<p>Two important factors insurance companies use to figure your credit score are payment history and hard inquiries. Hard inquiries involve lenders, like when you apply for a credit card or a loan. A good way to keep hard inquiries from hurting your credit score is to make all your requests within a 45-day period. Within this period, they treat all inquiries as one.</p>\n<p>&nbsp;</p>\n<p><strong>What Determines Your Credit Score?</strong><br />Credit scores aren\'t an exact science. Lenders and credit agencies use their own metrics. For example,<a href=\"https://personalreports.lexisnexis.com/\"> LexisNexis Property Insurance Scores uses this ranking</a>:</p>\n<p>&nbsp;</p>\n<p>Good: 776 to 997</p>\n<p>Average: 626 to 775</p>\n<p>Below Average: 501 to 625</p>\n<p>Less Desirable: Under 500</p>\n<p>&nbsp;</p>\n<p>Even though <a href=\"https://www.credit.com/credit-scores/what-is-a-good-credit-score/\">credit scores can vary between agencies</a>, most are similar to the above ranges.</p>\n<p>&nbsp;</p>\n<p><a href=\"https://www.creditkarma.com/advice/i/what-affects-your-credit-scores/\">Other factors that affect your credit score</a> include level of debt, length and usage of your credit accounts, and your credit limits. The three credit bureaus, <a href=\"https://www.experian.com/\">Experian</a>, <a href=\"https://www.equifax.com/personal/\">Equifax</a> and <a href=\"https://www.transunion.com/\">TransUnion</a>, rate these scores in different ways. Where one company ranks payment history as 40 percent of your score, another may only factor it in at 30 percent. Another difference is that things like your work or income history don’t affect your insurance score like they do your credit score.</p>\n<p>&nbsp;</p>\n<p>If you want to know if your insurance company used your credit report, you can contact your agent and ask them. If your credit report had a bad effect on your rate, the <a href=\"https://www.consumer.ftc.gov/articles/pdf-0096-fair-credit-reporting-act.pdf\">Fair Credit Reporting Act Action Notification</a> should alert you.</p>\n<p>&nbsp;</p>\n<p>You should also be aware of your state\'s laws regarding the use of credit reports to calculate rates. In Maryland and Hawaii, for example, insurers are legally prohibited from using your score to raise your homeowner’s premium. Other states may allow that, but they won\'t use your credit report to drop you or deny coverage.</p>\n<p>&nbsp;</p>\n<p><strong>How to Improve Your Credit Score</strong></p>\n<p>There are simple steps you can take to improve your credit score. A great starting point is to get your debt usage under control. As a rule of thumb, keep your usage to 30 percent or less of your total available credit.</p>\n<p>&nbsp;</p>\n<p>You\'ll also want to check and make sure your credit limit is fully reported. It could affect your rates if the credit bureau runs a background check and finds a blank spot for your card\'s credit limit. Agencies only use reports with known credit limits as factors in insurance scores.</p>\n<p>&nbsp;</p>\n<p>Another way to improve your credit score is to have a good grip on your payment history. Pay your bills on time and dispute any errors in your account. Many credit card companies will waive a one-time mistake. Try to make large payments when possible. Not many people can wipe out all of their debt at one time, but even if you can pay your balance down 10 percent each payment, you\'ll see some good changes in your credit score.</p>\n<p>&nbsp;</p>\n<p>You might see a lot of sites offering free credit reports, but most of them are not free. You can check your credit report once a year at no cost at <a href=\"https://www.annualcreditreport.com/index.action\">annualcreditreport.com</a>. Equifax, Experian and Transunion created the site jointly to comply with the <a href=\"https://www.ftc.gov/enforcement/rules/rulemaking-regulatory-reform-proceedings/fair-credit-reporting-act\">Fair Credit Reporting Act</a>. You can get your credit report from all three of the major bureaus for free and without hurting your credit score. This allows you to make sure your report is accurate. Credit report errors are common. Being aware of your credit status can help avoid them.</p>\n<p>&nbsp;</p>\n<p>Another option, if you feel your home insurance rates are too high due to your credit score, is to <a href=\"http://www.quotewizard.com/\">shop around</a>. When insurers look at someone\'s credit-based insurance score, it\'s considered a soft inquiry. Soft inquiries do not hurt your credit score like hard inquiries can, so looking at what different agencies have to offer you is in your favor.</p>\n<p>&nbsp;</p>\n<p>To read the<span> </span><a href=\"https://www.millerpublicadjusters.com/free-property-insurance-claim-advice-blog/how-your-credit-score-impacts-your-property-insurance-premium\">entire article please click here.</a></p>\n</div>\n<p>&nbsp;</p>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][/et_pb_column][/et_pb_row][/et_pb_section]','How Your Credit Score Impacts Your Property Insurance Premium','','inherit','closed','closed','','83-revision-v1','','','2019-12-23 19:27:21','2019-12-23 19:27:21','',83,'http://smartinsurance.tips/83-revision-v1/',0,'revision','',0),(87,1,'2019-12-23 19:23:49','2019-12-23 19:23:49','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1><a href=\"https://www.millerpublicadjusters.com/free-property-insurance-claim-advice-blog/how-your-credit-score-impacts-your-property-insurance-premium\"><span id=\"hs_cos_wrapper_name\" class=\"hs_cos_wrapper hs_cos_wrapper_meta_field hs_cos_wrapper_type_text\" data-hs-cos-general-type=\"meta_field\" data-hs-cos-type=\"text\">How Your Credit Score Impacts Your Property Insurance Premium</span></a></h1>\n[/et_pb_text][et_pb_image _builder_version=\"4.0.9\" src=\"http://smartinsurance.tips/wp-content/uploads/2019/12/miller.png\" hover_enabled=\"0\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column _builder_version=\"4.0.9\" type=\"4_4\"][et_pb_text admin_label=\"text block 1\" _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div id=\"wrap\">\n<p>When purchasing or renewing a homeowner’s insurance policy, your credit score plays an important role in your premium costs, and even in the ability to buy an insurance policy. Most insurance carriers use a <a href=\"https://www.naic.org/cipr_topics/topic_credit_based_insurance_score.htm\">credit-based insurance score</a> to calculate your premium payment. Here is what you should know about how insurance companies use your credit score and how you can improve it.</p>\n<p>&nbsp;</p>\n<p><strong>What Is a Credit-Based Insurance Score?</strong></p>\n<p>While credit-based insurance scores share traits with standard credit scores, they are not calculated the same way. Insurance scores consider only some of the factors that go into a regular credit score.</p>\n<p>&nbsp;</p>\n<p>Beginning in the 1990s, insurance companies began using credit scores to predict risk and calculate premium costs. According to the credit-scoring agency, <a href=\"https://ficoscore.com/education/\">FICO</a>, about 85 percent of insurance companies use credit-based scores when determining premium rates. Some reports show that people with bad credit can pay nearly twice as much for home insurance, compared to people with good credit. If your credit is really bad, you could be <a href=\"https://quotewizard.com/home-insurance/unable-to-get-homeowners-insurance\">denied a policy</a>.</p>\n<p>&nbsp;</p>\n<p>Two important factors insurance companies use to figure your credit score are payment history and hard inquiries. Hard inquiries involve lenders, like when you apply for a credit card or a loan. A good way to keep hard inquiries from hurting your credit score is to make all your requests within a 45-day period. Within this period, they treat all inquiries as one.</p>\n<p>&nbsp;</p>\n<p><strong>What Determines Your Credit Score?</strong><br />Credit scores aren\'t an exact science. Lenders and credit agencies use their own metrics. For example,<a href=\"https://personalreports.lexisnexis.com/\"> LexisNexis Property Insurance Scores uses this ranking</a>:</p>\n<p>&nbsp;</p>\n<p>Good: 776 to 997</p>\n<p>Average: 626 to 775</p>\n<p>Below Average: 501 to 625</p>\n<p>Less Desirable: Under 500</p>\n<p>&nbsp;</p>\n<p>Even though <a href=\"https://www.credit.com/credit-scores/what-is-a-good-credit-score/\">credit scores can vary between agencies</a>, most are similar to the above ranges.</p>\n<p>&nbsp;</p>\n<p><a href=\"https://www.creditkarma.com/advice/i/what-affects-your-credit-scores/\">Other factors that affect your credit score</a> include level of debt, length and usage of your credit accounts, and your credit limits. The three credit bureaus, <a href=\"https://www.experian.com/\">Experian</a>, <a href=\"https://www.equifax.com/personal/\">Equifax</a> and <a href=\"https://www.transunion.com/\">TransUnion</a>, rate these scores in different ways. Where one company ranks payment history as 40 percent of your score, another may only factor it in at 30 percent. Another difference is that things like your work or income history don’t affect your insurance score like they do your credit score.</p>\n<p>&nbsp;</p>\n<p>If you want to know if your insurance company used your credit report, you can contact your agent and ask them. If your credit report had a bad effect on your rate, the <a href=\"https://www.consumer.ftc.gov/articles/pdf-0096-fair-credit-reporting-act.pdf\">Fair Credit Reporting Act Action Notification</a> should alert you.</p>\n<p>&nbsp;</p>\n<p>You should also be aware of your state\'s laws regarding the use of credit reports to calculate rates. In Maryland and Hawaii, for example, insurers are legally prohibited from using your score to raise your homeowner’s premium. Other states may allow that, but they won\'t use your credit report to drop you or deny coverage.</p>\n<p>&nbsp;</p>\n<p><strong>How to Improve Your Credit Score</strong></p>\n<p>There are simple steps you can take to improve your credit score. A great starting point is to get your debt usage under control. As a rule of thumb, keep your usage to 30 percent or less of your total available credit.</p>\n<p>&nbsp;</p>\n<p>You\'ll also want to check and make sure your credit limit is fully reported. It could affect your rates if the credit bureau runs a background check and finds a blank spot for your card\'s credit limit. Agencies only use reports with known credit limits as factors in insurance scores.</p>\n<p>&nbsp;</p>\n<p>Another way to improve your credit score is to have a good grip on your payment history. Pay your bills on time and dispute any errors in your account. Many credit card companies will waive a one-time mistake. Try to make large payments when possible. Not many people can wipe out all of their debt at one time, but even if you can pay your balance down 10 percent each payment, you\'ll see some good changes in your credit score.</p>\n<p>&nbsp;</p>\n<p>You might see a lot of sites offering free credit reports, but most of them are not free. You can check your credit report once a year at no cost at <a href=\"https://www.annualcreditreport.com/index.action\">annualcreditreport.com</a>. Equifax, Experian and Transunion created the site jointly to comply with the <a href=\"https://www.ftc.gov/enforcement/rules/rulemaking-regulatory-reform-proceedings/fair-credit-reporting-act\">Fair Credit Reporting Act</a>. You can get your credit report from all three of the major bureaus for free and without hurting your credit score. This allows you to make sure your report is accurate. Credit report errors are common. Being aware of your credit status can help avoid them.</p>\n<p>&nbsp;</p>\n<p>Another option, if you feel your home insurance rates are too high due to your credit score, is to <a href=\"http://www.quotewizard.com/\">shop around</a>. When insurers look at someone\'s credit-based insurance score, it\'s considered a soft inquiry. Soft inquiries do not hurt your credit score like hard inquiries can, so looking at what different agencies have to offer you is in your favor.</p>\n<p>&nbsp;</p>\n<p>To read the<span> </span><a href=\"https://www.millerpublicadjusters.com/free-property-insurance-claim-advice-blog/how-your-credit-score-impacts-your-property-insurance-premium\">entire article please click here.</a></p>\n</div>\n<p>&nbsp;</p>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][/et_pb_column][/et_pb_row][/et_pb_section]','','','inherit','closed','closed','','83-revision-v1','','','2019-12-23 19:23:49','2019-12-23 19:23:49','',83,'http://smartinsurance.tips/83-revision-v1/',0,'revision','',0),(90,1,'2019-12-23 19:29:47','2019-12-23 19:29:47','<!-- wp:divi/placeholder -->\n[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1><a href=\"https://www.millerpublicadjusters.com/free-property-insurance-claim-advice-blog/how-your-credit-score-impacts-your-property-insurance-premium\"><span id=\"hs_cos_wrapper_name\" class=\"hs_cos_wrapper hs_cos_wrapper_meta_field hs_cos_wrapper_type_text\" data-hs-cos-general-type=\"meta_field\" data-hs-cos-type=\"text\">How Your Credit Score Impacts Your Property Insurance Premium</span></a></h1>\n[/et_pb_text][et_pb_image _builder_version=\"4.0.9\" src=\"http://smartinsurance.tips/wp-content/uploads/2019/12/miller.png\" hover_enabled=\"0\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column _builder_version=\"4.0.9\" type=\"4_4\"][et_pb_text admin_label=\"text block 1\" _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div id=\"wrap\">\n<p>When purchasing or renewing a homeowner’s insurance policy, your credit score plays an important role in your premium costs, and even in the ability to buy an insurance policy. Most insurance carriers use a <a href=\"https://www.naic.org/cipr_topics/topic_credit_based_insurance_score.htm\">credit-based insurance score</a> to calculate your premium payment. Here is what you should know about how insurance companies use your credit score and how you can improve it.</p>\n<p>&nbsp;</p>\n<p><strong>What Is a Credit-Based Insurance Score?</strong></p>\n<p>While credit-based insurance scores share traits with standard credit scores, they are not calculated the same way. Insurance scores consider only some of the factors that go into a regular credit score.</p>\n<p>&nbsp;</p>\n<p>Beginning in the 1990s, insurance companies began using credit scores to predict risk and calculate premium costs. According to the credit-scoring agency, <a href=\"https://ficoscore.com/education/\">FICO</a>, about 85 percent of insurance companies use credit-based scores when determining premium rates. Some reports show that people with bad credit can pay nearly twice as much for home insurance, compared to people with good credit. If your credit is really bad, you could be <a href=\"https://quotewizard.com/home-insurance/unable-to-get-homeowners-insurance\">denied a policy</a>.</p>\n<p>&nbsp;</p>\n<p>Two important factors insurance companies use to figure your credit score are payment history and hard inquiries. Hard inquiries involve lenders, like when you apply for a credit card or a loan. A good way to keep hard inquiries from hurting your credit score is to make all your requests within a 45-day period. Within this period, they treat all inquiries as one.</p>\n<p>&nbsp;</p>\n<p><strong>What Determines Your Credit Score?</strong><br />Credit scores aren\'t an exact science. Lenders and credit agencies use their own metrics. For example,<a href=\"https://personalreports.lexisnexis.com/\"> LexisNexis Property Insurance Scores uses this ranking</a>:</p>\n<p>&nbsp;</p>\n<p>Good: 776 to 997</p>\n<p>Average: 626 to 775</p>\n<p>Below Average: 501 to 625</p>\n<p>Less Desirable: Under 500</p>\n<p>&nbsp;</p>\n<p>Even though <a href=\"https://www.credit.com/credit-scores/what-is-a-good-credit-score/\">credit scores can vary between agencies</a>, most are similar to the above ranges.</p>\n<p>&nbsp;</p>\n<p><a href=\"https://www.creditkarma.com/advice/i/what-affects-your-credit-scores/\">Other factors that affect your credit score</a> include level of debt, length and usage of your credit accounts, and your credit limits. The three credit bureaus, <a href=\"https://www.experian.com/\">Experian</a>, <a href=\"https://www.equifax.com/personal/\">Equifax</a> and <a href=\"https://www.transunion.com/\">TransUnion</a>, rate these scores in different ways. Where one company ranks payment history as 40 percent of your score, another may only factor it in at 30 percent. Another difference is that things like your work or income history don’t affect your insurance score like they do your credit score.</p>\n<p>&nbsp;</p>\n<p>If you want to know if your insurance company used your credit report, you can contact your agent and ask them. If your credit report had a bad effect on your rate, the <a href=\"https://www.consumer.ftc.gov/articles/pdf-0096-fair-credit-reporting-act.pdf\">Fair Credit Reporting Act Action Notification</a> should alert you.</p>\n<p>&nbsp;</p>\n<p>You should also be aware of your state\'s laws regarding the use of credit reports to calculate rates. In Maryland and Hawaii, for example, insurers are legally prohibited from using your score to raise your homeowner’s premium. Other states may allow that, but they won\'t use your credit report to drop you or deny coverage.</p>\n<p>&nbsp;</p>\n<p><strong>How to Improve Your Credit Score</strong></p>\n<p>There are simple steps you can take to improve your credit score. A great starting point is to get your debt usage under control. As a rule of thumb, keep your usage to 30 percent or less of your total available credit.</p>\n<p>&nbsp;</p>\n<p>You\'ll also want to check and make sure your credit limit is fully reported. It could affect your rates if the credit bureau runs a background check and finds a blank spot for your card\'s credit limit. Agencies only use reports with known credit limits as factors in insurance scores.</p>\n<p>&nbsp;</p>\n<p>Another way to improve your credit score is to have a good grip on your payment history. Pay your bills on time and dispute any errors in your account. Many credit card companies will waive a one-time mistake. Try to make large payments when possible. Not many people can wipe out all of their debt at one time, but even if you can pay your balance down 10 percent each payment, you\'ll see some good changes in your credit score.</p>\n<p>&nbsp;</p>\n<p>You might see a lot of sites offering free credit reports, but most of them are not free. You can check your credit report once a year at no cost at <a href=\"https://www.annualcreditreport.com/index.action\">annualcreditreport.com</a>. Equifax, Experian and Transunion created the site jointly to comply with the <a href=\"https://www.ftc.gov/enforcement/rules/rulemaking-regulatory-reform-proceedings/fair-credit-reporting-act\">Fair Credit Reporting Act</a>. You can get your credit report from all three of the major bureaus for free and without hurting your credit score. This allows you to make sure your report is accurate. Credit report errors are common. Being aware of your credit status can help avoid them.</p>\n<p>&nbsp;</p>\n<p>Another option, if you feel your home insurance rates are too high due to your credit score, is to <a href=\"http://www.quotewizard.com/\">shop around</a>. When insurers look at someone\'s credit-based insurance score, it\'s considered a soft inquiry. Soft inquiries do not hurt your credit score like hard inquiries can, so looking at what different agencies have to offer you is in your favor.</p>\n<p>&nbsp;</p>\n<p>To read the<span> </span><a href=\"https://www.millerpublicadjusters.com/free-property-insurance-claim-advice-blog/how-your-credit-score-impacts-your-property-insurance-premium\">entire article please click here.</a></p>\n</div>\n<p>&nbsp;</p>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][/et_pb_column][/et_pb_row][/et_pb_section]\n<!-- /wp:divi/placeholder -->','How Your Credit Score Impacts Your Property Insurance Premium','','inherit','closed','closed','','83-revision-v1','','','2019-12-23 19:29:47','2019-12-23 19:29:47','',83,'http://smartinsurance.tips/83-revision-v1/',0,'revision','',0),(91,1,'2019-12-23 19:33:08','2019-12-23 19:33:08','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 style=\"text-align: center;\"><span style=\"color: #000000;\"><strong><a href=\"https://www.millerpublicadjusters.com/free-property-insurance-claim-advice-blog/understanding-the-importance-of-homeowners-insurance\" style=\"color: #000000;\"><span id=\"hs_cos_wrapper_name\" class=\"hs_cos_wrapper hs_cos_wrapper_meta_field hs_cos_wrapper_type_text\" data-hs-cos-general-type=\"meta_field\" data-hs-cos-type=\"text\">Understanding the Importance of Homeowners Insurance</span></a></strong></span></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2020/08/Importance.png\" width=\"994\" height=\"609\" alt=\"\" class=\"wp-image-712 aligncenter size-full\" /></div>\n<p>&nbsp;</p>\n<p><span style=\"color: #000000;\">There are many expenses that come with buying a home. One of the most important is homeowners insurance. While it’s natural to wonder whether this expense is necessary, there are many reasons why it is a crucial protection for any homeowner. Here are a few important things buyers should remember about homeowners insurance:</span></p>\n<div id=\"wrap\">\n<div id=\"content\">\n<p><span style=\"color: #000000;\"> </span></p>\n<h2><span style=\"color: #000000;\"><strong>1. Homeowners insurance protects your most valuable asset.</strong></span></h2>\n<p><span style=\"color: #000000;\">For most people, the home they live in is the most valuable possession they own. A <a href=\"https://www.iii.org/article/what-covered-standard-homeowners-policy\" target=\"_blank\" rel=\"noopener noreferrer\" style=\"color: #000000;\">home insurance policy can make it possible to pay for needed repairs</a> if the roof is damaged by hail or wind, a water leak in the basement causes damage to your walls, or if you suffer a loss due to a fire or another event. By making it easier to keep your home well-maintained and giving you more options when something bad happens, homeowners insurance protects your family’s future security. In order to be truly protected by your insurance company, you need the right policy. When you shop for that policy, focus on the limits of the coverage and what the policy actually provides for. That way you will have the opportunity to fully cover your home if you should suffer a total loss. The belongings in your home will also be covered, but only if you have enough insurance to replace all of them. Many homeowners make the mistake of having less coverage than they actually need. You should ask your agent for a policy that covers the full replacement cost of your home. That will come with a percentage of that amount for the contents of the home, and generally will also cover other structures like detached garages or sheds.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n<h2><span style=\"color: #000000;\"><strong>2. Your lender may require that you buy a policy.</strong></span></h2>\n<p><span style=\"color: #000000;\">If you have a mortgage on your home, your lender may <a href=\"http://money.usnews.com/money/blogs/my-money/2013/06/12/do-you-need-homeowners-insurance\" target=\"_blank\" rel=\"noopener noreferrer\" style=\"color: #000000;\">have conditions that require adequate insurance</a>. This is because they have money on the line, too. If your house is damaged in some expensive way and you lack insurance coverage, you are less likely to be able to pay off your mortgage loan. Your home is also the collateral on your loan; if it is damaged or destroyed, its value may not be enough to cover what the lender is still owed. They are protecting an investment, and it’s important for homeowners to adopt a similar mindset. When you buy an insurance policy because your mortgage lender requires it, you will be the named insured. But if there is a large claim paid by from the insurance company, the checks may come in your name and your lender’s name, and you will likely have to sign the check over to your lender to be held in escrow, to be paid out as repairs are made to your home. In short, you will not see the money from your claim or be able to use it for something else that may not be related to the repairs that your home needs. That is very important to realize, and something that many homeowners overlook.</span></p>\n<p><span style=\"color: #000000;\"> </span></p>\n<h2><span style=\"color: #000000;\"><strong>3. You should understand what your policy covers.</strong></span></h2>\n<p><span style=\"color: #000000;\">There are many different homeowners insurance policies available from a large number of insurance companies. It is important that <a href=\"https://www.krislindahl.com/blog/home-insurance-information.html\" target=\"_blank\" rel=\"noopener noreferrer\" style=\"color: #000000;\">buyers research insurance providers and read policies carefully</a> so they can understand what is covered. There is nothing worse than suffering a loss and learning that it’s excluded from coverage by your insurance policy. You should also do proper research to ensure you are buying enough coverage. The lender on your mortgage may require less coverage to satisfy their requirements than you will need to keep yourself properly covered from a significant loss—this often leads home buyers into making the mistake of taking this bare minimum, believing that they will be fully covered in the event of significant damage/repairs. Knowing your policy limits is valuable, but there is more to the coverage than just how much the policy provides in the event of a loss. Another thing you need to pay careful attention to is type of coverage you have on your home. For example, if you live in a flood zone you’ll likely need a flood insurance policy. Flood insurance is administered through the federal government, as standard homeowners policies do not cover floods. Nor do standard policies cover earthquakes, landslides or hurricanes. If you are in a part of the country where those things are common, and/or if your mortgage lender requires them, you may need additional policies that cover those types of perils. That can protect your investment – and that of your mortgage company – if such perils damage your home.</span></p>\n<h2><span style=\"color: #000000;\"><strong></strong></span></h2>\n<h2><span style=\"color: #000000;\"><strong>4. Homeowners insurance is not one-size-fits-all.</strong></span></h2>\n<p><span style=\"color: #000000;\">Different types of policies <a href=\"https://www.daveramsey.com/blog/why-you-must-have-homeowners-insurance\" target=\"_blank\" rel=\"noopener noreferrer\" style=\"color: #000000;\">fit different household needs</a>. If you have a large amount of savings, for instance, you may be able to save money each month by selecting a policy with a higher deductible. If you own many high-value items such as jewelry, electronics, art and high-quality furniture, you can opt for higher coverage limits to ensure that your possessions are properly protected. By choosing the option that best fits your personal situation, you can find a policy that fits both your requirements and your budget. Having that peace of mind is generally an excellent way to sleep well at night, and can provide homeowners with what they need to make sure they are financially protected. For homeowners that have high-end homes, more insurance is needed. Those who have less expensive homes will need a policy that is less expensive. Either way, though, having a policy that works for you and your specific needs is what matters. You want your home to be safe and protected, but you also want to make sure you feel good about the policy you have. If you are unsure whether or not your policy is right for you, talk with your agent about other options. That can give you the chance to have a better policy that fits your home and budget, while making sure protection is adequate. By looking at your options right away when becoming a homeowner, you can ensure that you have a policy that will protect your assets and prevent significant financial losses. Research a number of policies and providers to become an educated insurance buyer and to enjoy better peace of mind. While many homeowners just buy a policy and put it in the drawer or the file cabinet, you should take the time to read what’s in it. Then you’ll know whether the policy really protects your home or if it just covers the interests of the lender who holds your mortgage. While that is the most important issue financially for your lender, and is valuable to you as well, there may be other needed coverages that will keep you safe and secure in your home for a long time to come.</span></p>\n</div>\n<p><span style=\"color: #000000;\"> </span></p>\n<p><span style=\"color: #000000;\">To read the </span><a href=\"https://www.millerpublicadjusters.com/free-property-insurance-claim-advice-blog/understanding-the-importance-of-homeowners-insurance\"><span style=\"color: #000000;\">entire article,</span> please click here.</a></p>\n</div>\n<p>&nbsp;</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Understanding the Importance of Insurance','','publish','closed','closed','','understanding-the-importance-of-homeowners-insurance','','','2020-08-21 22:17:17','2020-08-21 22:17:17','',0,'http://smartinsurance.tips/?page_id=91',0,'page','',0),(92,1,'2019-12-23 19:30:35','2019-12-23 19:30:35','<!-- wp:divi/placeholder /-->','','','inherit','closed','closed','','91-revision-v1','','','2019-12-23 19:30:35','2019-12-23 19:30:35','',91,'http://smartinsurance.tips/91-revision-v1/',0,'revision','',0),(94,1,'2019-12-23 19:33:08','2019-12-23 19:33:08','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 style=\"text-align: center;\"><strong><a href=\"https://www.millerpublicadjusters.com/free-property-insurance-claim-advice-blog/understanding-the-importance-of-homeowners-insurance\"><span id=\"hs_cos_wrapper_name\" class=\"hs_cos_wrapper hs_cos_wrapper_meta_field hs_cos_wrapper_type_text\" data-hs-cos-general-type=\"meta_field\" data-hs-cos-type=\"text\">Understanding the Importance of Homeowners Insurance</span></a></strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\"><img class=\"aligncenter\" src=\"https://www.millerpublicadjusters.com/hs-fs/hubfs/Homeowner-Advice-Understanding-the-Importance-of-Insurance%5B1%5D.png?width=1000&amp;name=Homeowner-Advice-Understanding-the-Importance-of-Insurance%5B1%5D.png\" alt=\"Homeowner-Advice-Understanding-the-Importance-of-Insurance[1]\" width=\"660\" height=\"440\" /></div>\n<p>&nbsp;</p>\n<p>There are many expenses that come with buying a home. One of the most important is homeowners insurance. While it’s natural to wonder whether this expense is necessary, there are many reasons why it is a crucial protection for any homeowner. Here are a few important things buyers should remember about homeowners insurance:</p>\n<div id=\"wrap\">\n<div id=\"content\">\n<p>&nbsp;</p>\n<h2><strong>1. Homeowners insurance protects your most valuable asset.</strong></h2>\n<p><strong></strong></p>\n<p>For most people, the home they live in is the most valuable possession they own. A <a href=\"https://www.iii.org/article/what-covered-standard-homeowners-policy\" target=\"_blank\" rel=\"noopener noreferrer\">home insurance policy can make it possible to pay for needed repairs</a> if the roof is damaged by hail or wind, a water leak in the basement causes damage to your walls, or if you suffer a loss due to a fire or another event. By making it easier to keep your home well-maintained and giving you more options when something bad happens, homeowners insurance protects your family’s future security. In order to be truly protected by your insurance company, you need the right policy. When you shop for that policy, focus on the limits of the coverage and what the policy actually provides for. That way you will have the opportunity to fully cover your home if you should suffer a total loss. The belongings in your home will also be covered, but only if you have enough insurance to replace all of them. Many homeowners make the mistake of having less coverage than they actually need. You should ask your agent for a policy that covers the full replacement cost of your home. That will come with a percentage of that amount for the contents of the home, and generally will also cover other structures like detached garages or sheds.</p>\n<p>&nbsp;</p>\n<h2><strong>2. Your lender may require that you buy a policy.</strong></h2>\n<p><strong></strong></p>\n<p>If you have a mortgage on your home, your lender may <a href=\"http://money.usnews.com/money/blogs/my-money/2013/06/12/do-you-need-homeowners-insurance\" target=\"_blank\" rel=\"noopener noreferrer\">have conditions that require adequate insurance</a>. This is because they have money on the line, too. If your house is damaged in some expensive way and you lack insurance coverage, you are less likely to be able to pay off your mortgage loan. Your home is also the collateral on your loan; if it is damaged or destroyed, its value may not be enough to cover what the lender is still owed. They are protecting an investment, and it’s important for homeowners to adopt a similar mindset. When you buy an insurance policy because your mortgage lender requires it, you will be the named insured. But if there is a large claim paid by from the insurance company, the checks may come in your name and your lender’s name, and you will likely have to sign the check over to your lender to be held in escrow, to be paid out as repairs are made to your home. In short, you will not see the money from your claim or be able to use it for something else that may not be related to the repairs that your home needs. That is very important to realize, and something that many homeowners overlook.</p>\n<p>&nbsp;</p>\n<h2><strong>3. You should understand what your policy covers.</strong></h2>\n<h2><strong> </strong></h2>\n<p>There are many different homeowners insurance policies available from a large number of insurance companies. It is important that <a href=\"https://www.krislindahl.com/blog/home-insurance-information.html\" target=\"_blank\" rel=\"noopener noreferrer\">buyers research insurance providers and read policies carefully</a> so they can understand what is covered. There is nothing worse than suffering a loss and learning that it’s excluded from coverage by your insurance policy. You should also do proper research to ensure you are buying enough coverage. The lender on your mortgage may require less coverage to satisfy their requirements than you will need to keep yourself properly covered from a significant loss—this often leads home buyers into making the mistake of taking this bare minimum, believing that they will be fully covered in the event of significant damage/repairs. Knowing your policy limits is valuable, but there is more to the coverage than just how much the policy provides in the event of a loss. Another thing you need to pay careful attention to is type of coverage you have on your home. For example, if you live in a flood zone you’ll likely need a flood insurance policy. Flood insurance is administered through the federal government, as standard homeowners policies do not cover floods. Nor do standard policies cover earthquakes, landslides or hurricanes. If you are in a part of the country where those things are common, and/or if your mortgage lender requires them, you may need additional policies that cover those types of perils. That can protect your investment – and that of your mortgage company – if such perils damage your home.</p>\n<h2><strong></strong></h2>\n<h2><strong>4. Homeowners insurance is not one-size-fits-all.</strong></h2>\n<p><strong></strong></p>\n<p>Different types of policies <a href=\"https://www.daveramsey.com/blog/why-you-must-have-homeowners-insurance\" target=\"_blank\" rel=\"noopener noreferrer\">fit different household needs</a>. If you have a large amount of savings, for instance, you may be able to save money each month by selecting a policy with a higher deductible. If you own many high-value items such as jewelry, electronics, art and high-quality furniture, you can opt for higher coverage limits to ensure that your possessions are properly protected. By choosing the option that best fits your personal situation, you can find a policy that fits both your requirements and your budget. Having that peace of mind is generally an excellent way to sleep well at night, and can provide homeowners with what they need to make sure they are financially protected. For homeowners that have high-end homes, more insurance is needed. Those who have less expensive homes will need a policy that is less expensive. Either way, though, having a policy that works for you and your specific needs is what matters. You want your home to be safe and protected, but you also want to make sure you feel good about the policy you have. If you are unsure whether or not your policy is right for you, talk with your agent about other options. That can give you the chance to have a better policy that fits your home and budget, while making sure protection is adequate. By looking at your options right away when becoming a homeowner, you can ensure that you have a policy that will protect your assets and prevent significant financial losses. Research a number of policies and providers to become an educated insurance buyer and to enjoy better peace of mind. While many homeowners just buy a policy and put it in the drawer or the file cabinet, you should take the time to read what’s in it. Then you’ll know whether the policy really protects your home or if it just covers the interests of the lender who holds your mortgage. While that is the most important issue financially for your lender, and is valuable to you as well, there may be other needed coverages that will keep you safe and secure in your home for a long time to come.</p>\n</div>\n<p>&nbsp;</p>\n<p>To read the<span> </span><a href=\"https://www.millerpublicadjusters.com/free-property-insurance-claim-advice-blog/understanding-the-importance-of-homeowners-insurance\">entire article please click here.</a></p>\n</div>\n<p>&nbsp;</p>\n[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','','','inherit','closed','closed','','91-revision-v1','','','2019-12-23 19:33:08','2019-12-23 19:33:08','',91,'http://smartinsurance.tips/91-revision-v1/',0,'revision','',0),(97,1,'2019-12-23 19:33:33','2019-12-23 19:33:33','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 style=\"text-align: center;\"><strong><a href=\"https://www.millerpublicadjusters.com/free-property-insurance-claim-advice-blog/understanding-the-importance-of-homeowners-insurance\"><span id=\"hs_cos_wrapper_name\" class=\"hs_cos_wrapper hs_cos_wrapper_meta_field hs_cos_wrapper_type_text\" data-hs-cos-general-type=\"meta_field\" data-hs-cos-type=\"text\">Understanding the Importance of Homeowners Insurance</span></a></strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\"><img class=\"aligncenter\" src=\"https://www.millerpublicadjusters.com/hs-fs/hubfs/Homeowner-Advice-Understanding-the-Importance-of-Insurance%5B1%5D.png?width=1000&amp;name=Homeowner-Advice-Understanding-the-Importance-of-Insurance%5B1%5D.png\" alt=\"Homeowner-Advice-Understanding-the-Importance-of-Insurance[1]\" width=\"660\" height=\"440\" /></div>\n<p>&nbsp;</p>\n<p>There are many expenses that come with buying a home. One of the most important is homeowners insurance. While it’s natural to wonder whether this expense is necessary, there are many reasons why it is a crucial protection for any homeowner. Here are a few important things buyers should remember about homeowners insurance:</p>\n<div id=\"wrap\">\n<div id=\"content\">\n<p>&nbsp;</p>\n<h2><strong>1. Homeowners insurance protects your most valuable asset.</strong></h2>\n<p><strong></strong></p>\n<p>For most people, the home they live in is the most valuable possession they own. A <a href=\"https://www.iii.org/article/what-covered-standard-homeowners-policy\" target=\"_blank\" rel=\"noopener noreferrer\">home insurance policy can make it possible to pay for needed repairs</a> if the roof is damaged by hail or wind, a water leak in the basement causes damage to your walls, or if you suffer a loss due to a fire or another event. By making it easier to keep your home well-maintained and giving you more options when something bad happens, homeowners insurance protects your family’s future security. In order to be truly protected by your insurance company, you need the right policy. When you shop for that policy, focus on the limits of the coverage and what the policy actually provides for. That way you will have the opportunity to fully cover your home if you should suffer a total loss. The belongings in your home will also be covered, but only if you have enough insurance to replace all of them. Many homeowners make the mistake of having less coverage than they actually need. You should ask your agent for a policy that covers the full replacement cost of your home. That will come with a percentage of that amount for the contents of the home, and generally will also cover other structures like detached garages or sheds.</p>\n<p>&nbsp;</p>\n<h2><strong>2. Your lender may require that you buy a policy.</strong></h2>\n<p><strong></strong></p>\n<p>If you have a mortgage on your home, your lender may <a href=\"http://money.usnews.com/money/blogs/my-money/2013/06/12/do-you-need-homeowners-insurance\" target=\"_blank\" rel=\"noopener noreferrer\">have conditions that require adequate insurance</a>. This is because they have money on the line, too. If your house is damaged in some expensive way and you lack insurance coverage, you are less likely to be able to pay off your mortgage loan. Your home is also the collateral on your loan; if it is damaged or destroyed, its value may not be enough to cover what the lender is still owed. They are protecting an investment, and it’s important for homeowners to adopt a similar mindset. When you buy an insurance policy because your mortgage lender requires it, you will be the named insured. But if there is a large claim paid by from the insurance company, the checks may come in your name and your lender’s name, and you will likely have to sign the check over to your lender to be held in escrow, to be paid out as repairs are made to your home. In short, you will not see the money from your claim or be able to use it for something else that may not be related to the repairs that your home needs. That is very important to realize, and something that many homeowners overlook.</p>\n<p>&nbsp;</p>\n<h2><strong>3. You should understand what your policy covers.</strong></h2>\n<h2><strong> </strong></h2>\n<p>There are many different homeowners insurance policies available from a large number of insurance companies. It is important that <a href=\"https://www.krislindahl.com/blog/home-insurance-information.html\" target=\"_blank\" rel=\"noopener noreferrer\">buyers research insurance providers and read policies carefully</a> so they can understand what is covered. There is nothing worse than suffering a loss and learning that it’s excluded from coverage by your insurance policy. You should also do proper research to ensure you are buying enough coverage. The lender on your mortgage may require less coverage to satisfy their requirements than you will need to keep yourself properly covered from a significant loss—this often leads home buyers into making the mistake of taking this bare minimum, believing that they will be fully covered in the event of significant damage/repairs. Knowing your policy limits is valuable, but there is more to the coverage than just how much the policy provides in the event of a loss. Another thing you need to pay careful attention to is type of coverage you have on your home. For example, if you live in a flood zone you’ll likely need a flood insurance policy. Flood insurance is administered through the federal government, as standard homeowners policies do not cover floods. Nor do standard policies cover earthquakes, landslides or hurricanes. If you are in a part of the country where those things are common, and/or if your mortgage lender requires them, you may need additional policies that cover those types of perils. That can protect your investment – and that of your mortgage company – if such perils damage your home.</p>\n<h2><strong></strong></h2>\n<h2><strong>4. Homeowners insurance is not one-size-fits-all.</strong></h2>\n<p><strong></strong></p>\n<p>Different types of policies <a href=\"https://www.daveramsey.com/blog/why-you-must-have-homeowners-insurance\" target=\"_blank\" rel=\"noopener noreferrer\">fit different household needs</a>. If you have a large amount of savings, for instance, you may be able to save money each month by selecting a policy with a higher deductible. If you own many high-value items such as jewelry, electronics, art and high-quality furniture, you can opt for higher coverage limits to ensure that your possessions are properly protected. By choosing the option that best fits your personal situation, you can find a policy that fits both your requirements and your budget. Having that peace of mind is generally an excellent way to sleep well at night, and can provide homeowners with what they need to make sure they are financially protected. For homeowners that have high-end homes, more insurance is needed. Those who have less expensive homes will need a policy that is less expensive. Either way, though, having a policy that works for you and your specific needs is what matters. You want your home to be safe and protected, but you also want to make sure you feel good about the policy you have. If you are unsure whether or not your policy is right for you, talk with your agent about other options. That can give you the chance to have a better policy that fits your home and budget, while making sure protection is adequate. By looking at your options right away when becoming a homeowner, you can ensure that you have a policy that will protect your assets and prevent significant financial losses. Research a number of policies and providers to become an educated insurance buyer and to enjoy better peace of mind. While many homeowners just buy a policy and put it in the drawer or the file cabinet, you should take the time to read what’s in it. Then you’ll know whether the policy really protects your home or if it just covers the interests of the lender who holds your mortgage. While that is the most important issue financially for your lender, and is valuable to you as well, there may be other needed coverages that will keep you safe and secure in your home for a long time to come.</p>\n</div>\n<p>&nbsp;</p>\n<p>To read the<span> </span><a href=\"https://www.millerpublicadjusters.com/free-property-insurance-claim-advice-blog/understanding-the-importance-of-homeowners-insurance\">entire article please click here.</a></p>\n</div>\n<p>&nbsp;</p>\n[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Understanding the Importance of Insurance','','inherit','closed','closed','','91-revision-v1','','','2019-12-23 19:33:33','2019-12-23 19:33:33','',91,'http://smartinsurance.tips/91-revision-v1/',0,'revision','',0),(96,1,'2019-12-23 19:33:33','2019-12-23 19:33:33','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 style=\"text-align: center;\"><strong><a href=\"https://www.millerpublicadjusters.com/free-property-insurance-claim-advice-blog/understanding-the-importance-of-homeowners-insurance\"><span id=\"hs_cos_wrapper_name\" class=\"hs_cos_wrapper hs_cos_wrapper_meta_field hs_cos_wrapper_type_text\" data-hs-cos-general-type=\"meta_field\" data-hs-cos-type=\"text\">Understanding the Importance of Homeowners Insurance</span></a></strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\"><img class=\"aligncenter\" src=\"https://www.millerpublicadjusters.com/hs-fs/hubfs/Homeowner-Advice-Understanding-the-Importance-of-Insurance%5B1%5D.png?width=1000&amp;name=Homeowner-Advice-Understanding-the-Importance-of-Insurance%5B1%5D.png\" alt=\"Homeowner-Advice-Understanding-the-Importance-of-Insurance[1]\" width=\"660\" height=\"440\" /></div>\n<p>&nbsp;</p>\n<p>There are many expenses that come with buying a home. One of the most important is homeowners insurance. While it’s natural to wonder whether this expense is necessary, there are many reasons why it is a crucial protection for any homeowner. Here are a few important things buyers should remember about homeowners insurance:</p>\n<div id=\"wrap\">\n<div id=\"content\">\n<p>&nbsp;</p>\n<h2><strong>1. Homeowners insurance protects your most valuable asset.</strong></h2>\n<p><strong></strong></p>\n<p>For most people, the home they live in is the most valuable possession they own. A <a href=\"https://www.iii.org/article/what-covered-standard-homeowners-policy\" target=\"_blank\" rel=\"noopener noreferrer\">home insurance policy can make it possible to pay for needed repairs</a> if the roof is damaged by hail or wind, a water leak in the basement causes damage to your walls, or if you suffer a loss due to a fire or another event. By making it easier to keep your home well-maintained and giving you more options when something bad happens, homeowners insurance protects your family’s future security. In order to be truly protected by your insurance company, you need the right policy. When you shop for that policy, focus on the limits of the coverage and what the policy actually provides for. That way you will have the opportunity to fully cover your home if you should suffer a total loss. The belongings in your home will also be covered, but only if you have enough insurance to replace all of them. Many homeowners make the mistake of having less coverage than they actually need. You should ask your agent for a policy that covers the full replacement cost of your home. That will come with a percentage of that amount for the contents of the home, and generally will also cover other structures like detached garages or sheds.</p>\n<p>&nbsp;</p>\n<h2><strong>2. Your lender may require that you buy a policy.</strong></h2>\n<p><strong></strong></p>\n<p>If you have a mortgage on your home, your lender may <a href=\"http://money.usnews.com/money/blogs/my-money/2013/06/12/do-you-need-homeowners-insurance\" target=\"_blank\" rel=\"noopener noreferrer\">have conditions that require adequate insurance</a>. This is because they have money on the line, too. If your house is damaged in some expensive way and you lack insurance coverage, you are less likely to be able to pay off your mortgage loan. Your home is also the collateral on your loan; if it is damaged or destroyed, its value may not be enough to cover what the lender is still owed. They are protecting an investment, and it’s important for homeowners to adopt a similar mindset. When you buy an insurance policy because your mortgage lender requires it, you will be the named insured. But if there is a large claim paid by from the insurance company, the checks may come in your name and your lender’s name, and you will likely have to sign the check over to your lender to be held in escrow, to be paid out as repairs are made to your home. In short, you will not see the money from your claim or be able to use it for something else that may not be related to the repairs that your home needs. That is very important to realize, and something that many homeowners overlook.</p>\n<p>&nbsp;</p>\n<h2><strong>3. You should understand what your policy covers.</strong></h2>\n<h2><strong> </strong></h2>\n<p>There are many different homeowners insurance policies available from a large number of insurance companies. It is important that <a href=\"https://www.krislindahl.com/blog/home-insurance-information.html\" target=\"_blank\" rel=\"noopener noreferrer\">buyers research insurance providers and read policies carefully</a> so they can understand what is covered. There is nothing worse than suffering a loss and learning that it’s excluded from coverage by your insurance policy. You should also do proper research to ensure you are buying enough coverage. The lender on your mortgage may require less coverage to satisfy their requirements than you will need to keep yourself properly covered from a significant loss—this often leads home buyers into making the mistake of taking this bare minimum, believing that they will be fully covered in the event of significant damage/repairs. Knowing your policy limits is valuable, but there is more to the coverage than just how much the policy provides in the event of a loss. Another thing you need to pay careful attention to is type of coverage you have on your home. For example, if you live in a flood zone you’ll likely need a flood insurance policy. Flood insurance is administered through the federal government, as standard homeowners policies do not cover floods. Nor do standard policies cover earthquakes, landslides or hurricanes. If you are in a part of the country where those things are common, and/or if your mortgage lender requires them, you may need additional policies that cover those types of perils. That can protect your investment – and that of your mortgage company – if such perils damage your home.</p>\n<h2><strong></strong></h2>\n<h2><strong>4. Homeowners insurance is not one-size-fits-all.</strong></h2>\n<p><strong></strong></p>\n<p>Different types of policies <a href=\"https://www.daveramsey.com/blog/why-you-must-have-homeowners-insurance\" target=\"_blank\" rel=\"noopener noreferrer\">fit different household needs</a>. If you have a large amount of savings, for instance, you may be able to save money each month by selecting a policy with a higher deductible. If you own many high-value items such as jewelry, electronics, art and high-quality furniture, you can opt for higher coverage limits to ensure that your possessions are properly protected. By choosing the option that best fits your personal situation, you can find a policy that fits both your requirements and your budget. Having that peace of mind is generally an excellent way to sleep well at night, and can provide homeowners with what they need to make sure they are financially protected. For homeowners that have high-end homes, more insurance is needed. Those who have less expensive homes will need a policy that is less expensive. Either way, though, having a policy that works for you and your specific needs is what matters. You want your home to be safe and protected, but you also want to make sure you feel good about the policy you have. If you are unsure whether or not your policy is right for you, talk with your agent about other options. That can give you the chance to have a better policy that fits your home and budget, while making sure protection is adequate. By looking at your options right away when becoming a homeowner, you can ensure that you have a policy that will protect your assets and prevent significant financial losses. Research a number of policies and providers to become an educated insurance buyer and to enjoy better peace of mind. While many homeowners just buy a policy and put it in the drawer or the file cabinet, you should take the time to read what’s in it. Then you’ll know whether the policy really protects your home or if it just covers the interests of the lender who holds your mortgage. While that is the most important issue financially for your lender, and is valuable to you as well, there may be other needed coverages that will keep you safe and secure in your home for a long time to come.</p>\n</div>\n<p>&nbsp;</p>\n<p>To read the<span> </span><a href=\"https://www.millerpublicadjusters.com/free-property-insurance-claim-advice-blog/understanding-the-importance-of-homeowners-insurance\">entire article please click here.</a></p>\n</div>\n<p>&nbsp;</p>\n[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','','','inherit','closed','closed','','91-revision-v1','','','2019-12-23 19:33:33','2019-12-23 19:33:33','',91,'http://smartinsurance.tips/91-revision-v1/',0,'revision','',0),(99,1,'2019-12-23 19:34:05','2019-12-23 19:34:05','<!-- wp:divi/placeholder -->\n[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 style=\"text-align: center;\"><strong><a href=\"https://www.millerpublicadjusters.com/free-property-insurance-claim-advice-blog/understanding-the-importance-of-homeowners-insurance\"><span id=\"hs_cos_wrapper_name\" class=\"hs_cos_wrapper hs_cos_wrapper_meta_field hs_cos_wrapper_type_text\" data-hs-cos-general-type=\"meta_field\" data-hs-cos-type=\"text\">Understanding the Importance of Homeowners Insurance</span></a></strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\"><img class=\"aligncenter\" src=\"https://www.millerpublicadjusters.com/hs-fs/hubfs/Homeowner-Advice-Understanding-the-Importance-of-Insurance%5B1%5D.png?width=1000&amp;name=Homeowner-Advice-Understanding-the-Importance-of-Insurance%5B1%5D.png\" alt=\"Homeowner-Advice-Understanding-the-Importance-of-Insurance[1]\" width=\"660\" height=\"440\" /></div>\n<p>&nbsp;</p>\n<p>There are many expenses that come with buying a home. One of the most important is homeowners insurance. While it’s natural to wonder whether this expense is necessary, there are many reasons why it is a crucial protection for any homeowner. Here are a few important things buyers should remember about homeowners insurance:</p>\n<div id=\"wrap\">\n<div id=\"content\">\n<p>&nbsp;</p>\n<h2><strong>1. Homeowners insurance protects your most valuable asset.</strong></h2>\n<p><strong></strong></p>\n<p>For most people, the home they live in is the most valuable possession they own. A <a href=\"https://www.iii.org/article/what-covered-standard-homeowners-policy\" target=\"_blank\" rel=\"noopener noreferrer\">home insurance policy can make it possible to pay for needed repairs</a> if the roof is damaged by hail or wind, a water leak in the basement causes damage to your walls, or if you suffer a loss due to a fire or another event. By making it easier to keep your home well-maintained and giving you more options when something bad happens, homeowners insurance protects your family’s future security. In order to be truly protected by your insurance company, you need the right policy. When you shop for that policy, focus on the limits of the coverage and what the policy actually provides for. That way you will have the opportunity to fully cover your home if you should suffer a total loss. The belongings in your home will also be covered, but only if you have enough insurance to replace all of them. Many homeowners make the mistake of having less coverage than they actually need. You should ask your agent for a policy that covers the full replacement cost of your home. That will come with a percentage of that amount for the contents of the home, and generally will also cover other structures like detached garages or sheds.</p>\n<p>&nbsp;</p>\n<h2><strong>2. Your lender may require that you buy a policy.</strong></h2>\n<p><strong></strong></p>\n<p>If you have a mortgage on your home, your lender may <a href=\"http://money.usnews.com/money/blogs/my-money/2013/06/12/do-you-need-homeowners-insurance\" target=\"_blank\" rel=\"noopener noreferrer\">have conditions that require adequate insurance</a>. This is because they have money on the line, too. If your house is damaged in some expensive way and you lack insurance coverage, you are less likely to be able to pay off your mortgage loan. Your home is also the collateral on your loan; if it is damaged or destroyed, its value may not be enough to cover what the lender is still owed. They are protecting an investment, and it’s important for homeowners to adopt a similar mindset. When you buy an insurance policy because your mortgage lender requires it, you will be the named insured. But if there is a large claim paid by from the insurance company, the checks may come in your name and your lender’s name, and you will likely have to sign the check over to your lender to be held in escrow, to be paid out as repairs are made to your home. In short, you will not see the money from your claim or be able to use it for something else that may not be related to the repairs that your home needs. That is very important to realize, and something that many homeowners overlook.</p>\n<p>&nbsp;</p>\n<h2><strong>3. You should understand what your policy covers.</strong></h2>\n<h2><strong> </strong></h2>\n<p>There are many different homeowners insurance policies available from a large number of insurance companies. It is important that <a href=\"https://www.krislindahl.com/blog/home-insurance-information.html\" target=\"_blank\" rel=\"noopener noreferrer\">buyers research insurance providers and read policies carefully</a> so they can understand what is covered. There is nothing worse than suffering a loss and learning that it’s excluded from coverage by your insurance policy. You should also do proper research to ensure you are buying enough coverage. The lender on your mortgage may require less coverage to satisfy their requirements than you will need to keep yourself properly covered from a significant loss—this often leads home buyers into making the mistake of taking this bare minimum, believing that they will be fully covered in the event of significant damage/repairs. Knowing your policy limits is valuable, but there is more to the coverage than just how much the policy provides in the event of a loss. Another thing you need to pay careful attention to is type of coverage you have on your home. For example, if you live in a flood zone you’ll likely need a flood insurance policy. Flood insurance is administered through the federal government, as standard homeowners policies do not cover floods. Nor do standard policies cover earthquakes, landslides or hurricanes. If you are in a part of the country where those things are common, and/or if your mortgage lender requires them, you may need additional policies that cover those types of perils. That can protect your investment – and that of your mortgage company – if such perils damage your home.</p>\n<h2><strong></strong></h2>\n<h2><strong>4. Homeowners insurance is not one-size-fits-all.</strong></h2>\n<p><strong></strong></p>\n<p>Different types of policies <a href=\"https://www.daveramsey.com/blog/why-you-must-have-homeowners-insurance\" target=\"_blank\" rel=\"noopener noreferrer\">fit different household needs</a>. If you have a large amount of savings, for instance, you may be able to save money each month by selecting a policy with a higher deductible. If you own many high-value items such as jewelry, electronics, art and high-quality furniture, you can opt for higher coverage limits to ensure that your possessions are properly protected. By choosing the option that best fits your personal situation, you can find a policy that fits both your requirements and your budget. Having that peace of mind is generally an excellent way to sleep well at night, and can provide homeowners with what they need to make sure they are financially protected. For homeowners that have high-end homes, more insurance is needed. Those who have less expensive homes will need a policy that is less expensive. Either way, though, having a policy that works for you and your specific needs is what matters. You want your home to be safe and protected, but you also want to make sure you feel good about the policy you have. If you are unsure whether or not your policy is right for you, talk with your agent about other options. That can give you the chance to have a better policy that fits your home and budget, while making sure protection is adequate. By looking at your options right away when becoming a homeowner, you can ensure that you have a policy that will protect your assets and prevent significant financial losses. Research a number of policies and providers to become an educated insurance buyer and to enjoy better peace of mind. While many homeowners just buy a policy and put it in the drawer or the file cabinet, you should take the time to read what’s in it. Then you’ll know whether the policy really protects your home or if it just covers the interests of the lender who holds your mortgage. While that is the most important issue financially for your lender, and is valuable to you as well, there may be other needed coverages that will keep you safe and secure in your home for a long time to come.</p>\n</div>\n<p>&nbsp;</p>\n<p>To read the<span> </span><a href=\"https://www.millerpublicadjusters.com/free-property-insurance-claim-advice-blog/understanding-the-importance-of-homeowners-insurance\">entire article please click here.</a></p>\n</div>\n<p>&nbsp;</p>\n[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]\n<!-- /wp:divi/placeholder -->','Understanding the Importance of Insurance','','inherit','closed','closed','','91-revision-v1','','','2019-12-23 19:34:05','2019-12-23 19:34:05','',91,'http://smartinsurance.tips/91-revision-v1/',0,'revision','',0),(2177,1,'2022-03-01 12:29:43','2022-03-01 12:29:43','<!-- wp:gallery {\"ids\":[2176],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/03/My-project-1024x536.png\" alt=\"\" data-id=\"2176\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2022/03/My-project.png\" data-link=\"http://smartinsurance.tips/?attachment_id=2176\" class=\"wp-image-2176\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-1\">When you are budgeting and saving, the money in your emergency fund should be earmarked for unexpected expenses.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-4\">But what, exactly, counts as an unexpected expense? Some expenses are irregular but predictable, while others are truly impossible to foresee.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-7\">Once you understand what unexpected expenses actually are, you will be better able to plan your savings and manage your budget.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-9\">Annual Bills vs. Unexpected Expenses</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-11\">Some expenses do not occur monthly, but you can still predict them because they occur on an annual or semi-annual schedule. They aren\'t unexpected because you know they will happen once or twice every year.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-14\">Annual and semi-annual bills can include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul id=\"mntl-sc-block_1-0-17\" class=\"has-black-color has-text-color has-medium-font-size\"><li>Property tax</li><li>Car insurance</li><li>Life insurance</li><li>Eye exams</li><li>School tuition</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-20\">Even though they don\'t occur monthly, these annual or semi-annual expenses can still be planned for in your monthly budget. Set aside a fixed amount each week or each month so you have the correct amount saved when the bill comes due.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-23\">For example, if your property taxes are $5,200 per year, set aside $100 a week.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:quote -->\n<blockquote class=\"wp-block-quote\" id=\"mntl-sc-block_1-0-26\"><p>($100 a week) x (52 weeks per year) = $5,200</p></blockquote>\n<!-- /wp:quote -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-29\">If your annual eye exam and lens replacement cost $300 each year, set aside $25 per month.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:quote -->\n<blockquote class=\"wp-block-quote\" id=\"mntl-sc-block_1-0-32\"><p>($25 a month) x (12 months per year) = $300</p></blockquote>\n<!-- /wp:quote -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-35\">Because these expenses are regular and predictable, they are not truly unexpected. You should plan for them in your budget so that you don\'t have to use your emergency fund to cover them.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-37\">Irregular Maintenance vs. Unexpected Expenses</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-39\">Some expenses are irregular or occur at unpredictable times. But the expenses themselves are not unexpected because they are general maintenance that you can predict will occur at&nbsp;<em>some</em>&nbsp;point.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-42\">For example, irregular but predictable maintenance could include:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul id=\"mntl-sc-block_1-0-45\" class=\"has-black-color has-text-color has-medium-font-size\"><li>Fixing a leaking roof</li><li>Replacing a broken dishwasher</li><li>Paying a $1,000 health insurance deductible</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-48\">Expenses like medical bills, car work, and home repairs aren\'t truly unexpected. You might not know exactly when it will happen, or what will need fixing, but you can predict that at some point all these things will need maintenance or care.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-51\">To plan for these expenses, your budget should include an estimate of how much you\'ll spend on variable costs like your home, car, and health.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-54\">1% Rule for Maintenance and Repairs</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-56\">One good rule of thumb is that 1% of your home\'s value should be set aside each year for home repairs and maintenance. If you live in a $250,000 home, you should save $2,500 per year or about $208 per month.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:quote -->\n<blockquote class=\"wp-block-quote\" id=\"mntl-sc-block_1-0-59\"><p>($250,000 x 1%)/(12 months per year) = $208.33</p></blockquote>\n<!-- /wp:quote -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-62\">You won\'t spend $2,500 every year. Some years you\'ll spend just $100 or $200 on basic maintenance, like cleaning the gutters. But in other years, you\'ll spend $7,000 replacing the roof.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-65\">The 1% rule is intended to be a long-term annualized average, and you can budget for these types of expenses by setting aside money in a \"home repairs and maintenance\" fund. During months when you have smaller (or no) expenses, the money will remain available until you have a large expense.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Consider putting these savings in a high-yield checking or savings account so that they can earn interest when you are waiting to use them.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-70\">Auto and Health Expenses</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-72\">The same is true for car and health expenses. If you budget a set amount each month, you\'ll be able to respond to the average cost of car maintenance and health expenses.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-75\">You may choose to set aside $600 a year, or $50 per month, for car repairs. Some years you\'ll spend $0. In other years, you\'ll need to spend $4,000 to replace the transmission.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-78\">Similarly, you\'ll need to set aside some money each month to cover deductibles, co-pays, prescriptions, and other out-of-pocket medical costs. The amount you set aside should be aligned with the deductible and maximum annual out-of-pocket costs on your health plan.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-81\">For example, let\'s say your health plan has a $1,200 annual deductible and $5,000 total annual out-of-pocket maximum. If you\'re healthy and don\'t visit the doctor often, you might decide to set aside $100 per month, or $1,200 per year.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-84\">If you think you may need more frequent doctors visits, you might opt to set aside $416 per month, or $5,000 yearly.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You can put money that you budget for health expenses in a tax-free health savings account (HSA).</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-88\">What Counts as an Unexpected Expense?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-90\">Your emergency fund should be used for expenses that fall&nbsp;<em>outside</em>&nbsp;the categories of annual bills, irregular maintenance, or predictable health costs. Truly unexpected expenses could be:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul id=\"mntl-sc-block_1-0-93\" class=\"has-black-color has-text-color has-medium-font-size\"><li>Living expenses for several months after you lose your job</li><li>Unusual medical bills that health insurance doesn\'t cover</li><li>Plane tickets to attend an unexpected funeral</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-96\">These expenses are not only irregular and unforeseen, they are related to unexpected or once-in-a-lifetime events, rather than more common activities.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-98\">Budgeting for Unexpected Expenses</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-100\">When you plan your budget to include annual bills and irregular maintenance, you are able to save the money in your emergency fund for truly unexpected expenses.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-103\">At a minimum, you should have an emergency fund that can cover three to six months of:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul id=\"mntl-sc-block_1-0-106\" class=\"has-black-color has-text-color has-medium-font-size\"><li>Rent or mortgage payments</li><li>Utilities</li><li>Car and health insurance</li><li>Car payments</li><li>Groceries</li><li>Prescriptions</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-109\">However, just because you have this amount set aside doesn\'t mean you should stop saving. If your monthly budget is set up to continue adding a small amount per month into your emergency savings, you will be able to plan and pay for unexpected expenses that come your way without falling into debt or missing important bills.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.thebalance.com/what-is-an-unexpected-expense-453899\">click here.</a></p>\n<!-- /wp:paragraph -->','What Counts as an Unexpected Expense?','','inherit','closed','closed','','2175-revision-v1','','','2022-03-01 12:29:43','2022-03-01 12:29:43','',2175,'http://smartinsurance.tips/?p=2177',0,'revision','',0),(2178,1,'2022-03-05 00:33:03','2022-03-05 00:33:03','<!-- wp:gallery {\"ids\":[2179],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/03/My-project-23-1024x536.png\" alt=\"\" data-id=\"2179\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2022/03/My-project-23.png\" data-link=\"http://smartinsurance.tips/?attachment_id=2179\" class=\"wp-image-2179\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_2-0\">What Is the 80% Rule for Home Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-1\">The 80% rule is adhered to by most insurance companies. According to the standard, an insurer will only cover the cost of damage to a house or property if the homeowner has purchased insurance coverage equal to at least 80% of the house\'s total replacement value. If the amount of coverage purchased is less than the minimum 80%, the insurance company will only reimburse the homeowner a proportionate amount of the required minimum coverage that should have been purchased.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Key Takeaways:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li>The 80% rule means that an insurer will only fully cover the cost of damage to a house if the owner has purchased insurance coverage equal to at least 80% of the house\'s total replacement value.</li><li>If the coverage is purchased covers less than 80% of the replacement value, the amount paid by the insurance company will be proportionate to the amount of coverage originally purchased.</li><li>Capital improvements and inflation affect the value of a property and the 80% rule.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_2-0-4\">How the 80% Rule Works for Home Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-5\">For example, James owns a house with a replacement cost of $500,000, and his insurance coverage totals $395,000. An unanticipated flood causes $250,000 worth of damage to James\' house. At first glance, you might assume since the amount of coverage is higher than the cost of the damage ($395,000 vs. $250,000), so the insurance company should reimburse the entire amount to James. However, because of the 80% rule, this is not necessarily the case.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-7\">According to the 80% rule, the minimum coverage that James should have purchased for his home is $400,000 ($500,000 x 80%). If that threshold had been met, any and all partial damages to James\'s home would be paid by the insurance company. However, since James did not buy the minimum amount of coverage, the insurance company will only pay for the proportion of the minimum coverage represented by the actual amount of insurance purchased ($395,000/$400,000), which amounts to 98.75% of the damages. Therefore, the insurance company would pay out $246,875 and, unfortunately, James would have to pay the remaining $3,125 himself.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Important: Because improvements to a home and inflation affect home values, homeowners should review their insurance policies periodically to ensure their coverage meets the 80% rule.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_2-0-10\">How Capital Improvements Affect the 80% Rule</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-11\">Since capital improvements increase the replacement value of a house, it is possible that coverage that would have been enough to meet the 80% rule before the improvements will no longer be sufficient after.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-13\">For example, let\'s say James realizes he did not purchase enough insurance to cover the 80% rule, so he purchases coverage that covers $400,000. One year passes, and James decides to build a new addition to his house, which raises the replacement value to $510,000. While the $400,000 would have been sufficient to cover the $500,000 house ($400,000/$500,000 = 80%), the capital improvement has driven up the replacement value of the house, and this coverage is no longer enough ($400,000/$510,000 = 78.43%). In this case, the insurance company will once again not fully compensate for the cost of any partial damages.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-15\">Inflation can also cause the replacement value of a house to increase. Therefore, homeowners should review their insurance policies and home replacement values periodically to see if they have adequate coverage to cover any damages fully.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.investopedia.com/ask/answers/06/80percentrule.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','How Does the 80% Rule for Home Insurance Work?','','publish','open','open','','how-does-the-80-rule-for-home-insurance-work','','','2022-03-05 00:33:05','2022-03-05 00:33:05','',0,'http://smartinsurance.tips/?p=2178',0,'post','',0),(2179,1,'2022-03-05 00:22:18','2022-03-05 00:22:18','','My-project-23','','inherit','open','closed','','my-project-23','','','2022-03-05 00:22:18','2022-03-05 00:22:18','',2178,'http://smartinsurance.tips/wp-content/uploads/2022/03/My-project-23.png',0,'attachment','image/png',0),(2180,1,'2022-03-05 00:33:03','2022-03-05 00:33:03','<!-- wp:gallery {\"ids\":[2179],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/03/My-project-23-1024x536.png\" alt=\"\" data-id=\"2179\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2022/03/My-project-23.png\" data-link=\"http://smartinsurance.tips/?attachment_id=2179\" class=\"wp-image-2179\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_2-0\">What Is the 80% Rule for Home Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-1\">The 80% rule is adhered to by most insurance companies. According to the standard, an insurer will only cover the cost of damage to a house or property if the homeowner has purchased insurance coverage equal to at least 80% of the house\'s total replacement value. If the amount of coverage purchased is less than the minimum 80%, the insurance company will only reimburse the homeowner a proportionate amount of the required minimum coverage that should have been purchased.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Key Takeaways:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li>The 80% rule means that an insurer will only fully cover the cost of damage to a house if the owner has purchased insurance coverage equal to at least 80% of the house\'s total replacement value.</li><li>If the coverage is purchased covers less than 80% of the replacement value, the amount paid by the insurance company will be proportionate to the amount of coverage originally purchased.</li><li>Capital improvements and inflation affect the value of a property and the 80% rule.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_2-0-4\">How the 80% Rule Works for Home Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-5\">For example, James owns a house with a replacement cost of $500,000, and his insurance coverage totals $395,000. An unanticipated flood causes $250,000 worth of damage to James\' house. At first glance, you might assume since the amount of coverage is higher than the cost of the damage ($395,000 vs. $250,000), so the insurance company should reimburse the entire amount to James. However, because of the 80% rule, this is not necessarily the case.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-7\">According to the 80% rule, the minimum coverage that James should have purchased for his home is $400,000 ($500,000 x 80%). If that threshold had been met, any and all partial damages to James\'s home would be paid by the insurance company. However, since James did not buy the minimum amount of coverage, the insurance company will only pay for the proportion of the minimum coverage represented by the actual amount of insurance purchased ($395,000/$400,000), which amounts to 98.75% of the damages. Therefore, the insurance company would pay out $246,875 and, unfortunately, James would have to pay the remaining $3,125 himself.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Important: Because improvements to a home and inflation affect home values, homeowners should review their insurance policies periodically to ensure their coverage meets the 80% rule.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_2-0-10\">How Capital Improvements Affect the 80% Rule</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-11\">Since capital improvements increase the replacement value of a house, it is possible that coverage that would have been enough to meet the 80% rule before the improvements will no longer be sufficient after.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-13\">For example, let\'s say James realizes he did not purchase enough insurance to cover the 80% rule, so he purchases coverage that covers $400,000. One year passes, and James decides to build a new addition to his house, which raises the replacement value to $510,000. While the $400,000 would have been sufficient to cover the $500,000 house ($400,000/$500,000 = 80%), the capital improvement has driven up the replacement value of the house, and this coverage is no longer enough ($400,000/$510,000 = 78.43%). In this case, the insurance company will once again not fully compensate for the cost of any partial damages.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-15\">Inflation can also cause the replacement value of a house to increase. Therefore, homeowners should review their insurance policies and home replacement values periodically to see if they have adequate coverage to cover any damages fully.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.investopedia.com/ask/answers/06/80percentrule.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','How Does the 80% Rule for Home Insurance Work?','','inherit','closed','closed','','2178-revision-v1','','','2022-03-05 00:33:03','2022-03-05 00:33:03','',2178,'http://smartinsurance.tips/?p=2180',0,'revision','',0),(2182,1,'2022-03-05 00:45:17','2022-03-05 00:45:17','<!-- wp:gallery {\"ids\":[2183],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/03/My-project-16-1024x536.png\" alt=\"\" data-id=\"2183\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2022/03/My-project-16.png\" data-link=\"http://smartinsurance.tips/?attachment_id=2183\" class=\"wp-image-2183\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_2-0\">What Is Malpractice Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-1\">Malpractice insurance is a type of professional liability insurance purchased by healthcare professionals. This insurance coverage protects healthcare providers against patients who file suits against them under the complaint that they were harmed by the professional\'s negligence or intentionally harmful treatment decisions. Malpractice insurance also covers the death of a patient.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Key Takeaways:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li>Malpractice insurance is a type of professional liability insurance intended to cover healthcare professionals.</li><li>Patients can file lawsuits against healthcare professionals seeking damages for medical negligence that resulted in further health problems or death.</li><li>Studies show that medical negligence is the third leading cause of death in the United States, so more likely than not, a healthcare professional will need malpractice insurance.</li><li>Malpractice insurance can be obtained through a private insurer, through an employer, or through organizations, such as medical risk retention groups (RRGs).</li><li>The two basic types of professional liability insurance are claims-made policies or occurrence policies.</li><li>Legal costs, punitive damages, and medical damages are all covered under malpractice insurance.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h2 class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-4\">Understanding Malpractice Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-5\">Most medical doctors will need malpractice insurance sometime during their professional career, and for good reason. A study by Johns Hopkins University found medical errors to be the third leading cause of death in the United States, behind heart disease and cancer.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-7\">Medical negligence can happen during diagnosis, during treatment, or as part of the advice given for treatment after an illness. Approximately 250,000 deaths in the U.S. arise from medical errors every year.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-9\">Some studies show that more than 17,000 malpractice lawsuits are brought to healthcare professionals every year in the United States.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><a href=\"https://vwpwlaw.com/insights/the-truth-about-doctors-who-get-sued-the-most\" target=\"_blank\" rel=\"noreferrer noopener\"></a>&nbsp;An average U.S. doctor can expect to have a malpractice lawsuit brought against them once every seven years. This underlines the importance of having malpractice insurance for a healthcare professional.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-11\">States require that medical professionals have current malpractice coverage to work in hospitals and other medical facilities. Medical malpractice insurance premiums are usually based on the physician\'s specialty and geographic location, not on claims experience. This means that even if a physician has never been sued, they can end up paying extremely high premiums. The premiums can be high because of such factors as the amount of coverage needed, claims severity, claims frequency, location of practice, and laws in the area.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image -->\n<figure class=\"wp-block-image\" id=\"mntl-sc-block_2-0-13\"><img src=\"https://www.investopedia.com/thmb/Vz6rlsSwxCiligVlMHRMdUxm6NM=/1500x1000/filters:no_upscale():max_bytes(150000):strip_icc():format(webp)/malpractice-insurance-final-8fdaa2e3f7fe41ad9107b73e4d857c4e.png\" alt=\"Cost Factors for Malpractice Insurance\"/><figcaption>Investopedia / Lara Antal</figcaption></figure>\n<!-- /wp:image -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_2-0-14\">Types of Malpractice Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-15\">There are many options for procuring malpractice insurance. In the most basic form, an insurance policy can be purchased for an individual or group by a private insurer. Individual or group policies can also be purchased by a medical risk retention group (RRG). An RRG is a group of medical professionals organized to provide malpractice insurance. Another option for obtaining malpractice insurance is under the coverage plan of an employer, such as a hospital.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-17\">Individuals that work as medical professionals under the government do not need to obtain malpractice insurance as the federal government insures against liability claims. Insurance can often also be obtained through state and local agencies if the situation deems it necessary.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-19\">The two types of policies that a healthcare professional can purchase are a claims-made policy or an occurrence policy. A claims-made policy only covers claims if the policy was in effect when the treatment occurred and when the lawsuit was made. An occurrence policy covers any claim that was made on a treatment that occurred while the policy was in effect, even if the policy has since expired.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-21\">The types of costs covered under a malpractice policy are wide. They include all legal fees, such as lawyer fees, settlement and arbitration costs, medical damages, and punitive damages.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_2-0-23\">Proving a Malpractice Lawsuit</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-24\">In a medical malpractice lawsuit, the plaintiff needs to prove a medical professional violated the general standard of care of a patient, as defined by the medical community. In order to be successful in a medical malpractice lawsuit, three things generally need to happen:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"ordered\":true,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ol id=\"mntl-sc-block_2-0-26\" class=\"has-black-color has-text-color has-medium-font-size\"><li>The plaintiff\'s attorney must prove there was a breach of medical protocol that resulted in a practitioner choosing a different course of action than a colleague would have taken. </li><li>The medical professional causes physical or emotional injury.</li><li>There must be sufficient evidence proving the medical professional caused the damage. </li></ol>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.investopedia.com/terms/m/malpractice-insurance.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','Malpractice Insurance','','publish','open','open','','malpractice-insurance','','','2022-03-05 00:45:19','2022-03-05 00:45:19','',0,'http://smartinsurance.tips/?p=2182',0,'post','',0),(2183,1,'2022-03-05 00:41:50','2022-03-05 00:41:50','','My-project-16','','inherit','open','closed','','my-project-16-2','','','2022-03-05 00:41:50','2022-03-05 00:41:50','',2182,'http://smartinsurance.tips/wp-content/uploads/2022/03/My-project-16.png',0,'attachment','image/png',0),(2184,1,'2022-03-05 00:45:17','2022-03-05 00:45:17','<!-- wp:gallery {\"ids\":[2183],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/03/My-project-16-1024x536.png\" alt=\"\" data-id=\"2183\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2022/03/My-project-16.png\" data-link=\"http://smartinsurance.tips/?attachment_id=2183\" class=\"wp-image-2183\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_2-0\">What Is Malpractice Insurance?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-1\">Malpractice insurance is a type of professional liability insurance purchased by healthcare professionals. This insurance coverage protects healthcare providers against patients who file suits against them under the complaint that they were harmed by the professional\'s negligence or intentionally harmful treatment decisions. Malpractice insurance also covers the death of a patient.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Key Takeaways:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li>Malpractice insurance is a type of professional liability insurance intended to cover healthcare professionals.</li><li>Patients can file lawsuits against healthcare professionals seeking damages for medical negligence that resulted in further health problems or death.</li><li>Studies show that medical negligence is the third leading cause of death in the United States, so more likely than not, a healthcare professional will need malpractice insurance.</li><li>Malpractice insurance can be obtained through a private insurer, through an employer, or through organizations, such as medical risk retention groups (RRGs).</li><li>The two basic types of professional liability insurance are claims-made policies or occurrence policies.</li><li>Legal costs, punitive damages, and medical damages are all covered under malpractice insurance.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h2 class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-4\">Understanding Malpractice Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-5\">Most medical doctors will need malpractice insurance sometime during their professional career, and for good reason. A study by Johns Hopkins University found medical errors to be the third leading cause of death in the United States, behind heart disease and cancer.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-7\">Medical negligence can happen during diagnosis, during treatment, or as part of the advice given for treatment after an illness. Approximately 250,000 deaths in the U.S. arise from medical errors every year.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-9\">Some studies show that more than 17,000 malpractice lawsuits are brought to healthcare professionals every year in the United States.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><a href=\"https://vwpwlaw.com/insights/the-truth-about-doctors-who-get-sued-the-most\" target=\"_blank\" rel=\"noreferrer noopener\"></a>&nbsp;An average U.S. doctor can expect to have a malpractice lawsuit brought against them once every seven years. This underlines the importance of having malpractice insurance for a healthcare professional.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-11\">States require that medical professionals have current malpractice coverage to work in hospitals and other medical facilities. Medical malpractice insurance premiums are usually based on the physician\'s specialty and geographic location, not on claims experience. This means that even if a physician has never been sued, they can end up paying extremely high premiums. The premiums can be high because of such factors as the amount of coverage needed, claims severity, claims frequency, location of practice, and laws in the area.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image -->\n<figure class=\"wp-block-image\" id=\"mntl-sc-block_2-0-13\"><img src=\"https://www.investopedia.com/thmb/Vz6rlsSwxCiligVlMHRMdUxm6NM=/1500x1000/filters:no_upscale():max_bytes(150000):strip_icc():format(webp)/malpractice-insurance-final-8fdaa2e3f7fe41ad9107b73e4d857c4e.png\" alt=\"Cost Factors for Malpractice Insurance\"/><figcaption>Investopedia / Lara Antal</figcaption></figure>\n<!-- /wp:image -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_2-0-14\">Types of Malpractice Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-15\">There are many options for procuring malpractice insurance. In the most basic form, an insurance policy can be purchased for an individual or group by a private insurer. Individual or group policies can also be purchased by a medical risk retention group (RRG). An RRG is a group of medical professionals organized to provide malpractice insurance. Another option for obtaining malpractice insurance is under the coverage plan of an employer, such as a hospital.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-17\">Individuals that work as medical professionals under the government do not need to obtain malpractice insurance as the federal government insures against liability claims. Insurance can often also be obtained through state and local agencies if the situation deems it necessary.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-19\">The two types of policies that a healthcare professional can purchase are a claims-made policy or an occurrence policy. A claims-made policy only covers claims if the policy was in effect when the treatment occurred and when the lawsuit was made. An occurrence policy covers any claim that was made on a treatment that occurred while the policy was in effect, even if the policy has since expired.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-21\">The types of costs covered under a malpractice policy are wide. They include all legal fees, such as lawyer fees, settlement and arbitration costs, medical damages, and punitive damages.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_2-0-23\">Proving a Malpractice Lawsuit</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-24\">In a medical malpractice lawsuit, the plaintiff needs to prove a medical professional violated the general standard of care of a patient, as defined by the medical community. In order to be successful in a medical malpractice lawsuit, three things generally need to happen:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"ordered\":true,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ol id=\"mntl-sc-block_2-0-26\" class=\"has-black-color has-text-color has-medium-font-size\"><li>The plaintiff\'s attorney must prove there was a breach of medical protocol that resulted in a practitioner choosing a different course of action than a colleague would have taken. </li><li>The medical professional causes physical or emotional injury.</li><li>There must be sufficient evidence proving the medical professional caused the damage. </li></ol>\n<!-- /wp:list -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.investopedia.com/terms/m/malpractice-insurance.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','Malpractice Insurance','','inherit','closed','closed','','2182-revision-v1','','','2022-03-05 00:45:17','2022-03-05 00:45:17','',2182,'http://smartinsurance.tips/?p=2184',0,'revision','',0),(2185,1,'2022-03-07 19:38:18','2022-03-07 19:38:18','<!-- wp:gallery {\"ids\":[2186],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/03/My-project-6-1024x536.png\" alt=\"\" data-id=\"2186\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2022/03/My-project-6.png\" data-link=\"http://smartinsurance.tips/?attachment_id=2186\" class=\"wp-image-2186\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0\">Planning ahead is one of the best ways to prepare for a comfortable retirement. From keeping track of your savings to adopting strategies for generating income, a thoughtful approach can help you sustain your lifestyle as you move into the next phase of your life.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-2\">Below, we break down four key factors to consider—and how to develop a retirement plan that works for you.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_2-0-4\">1. Generate Income in Retirement</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-5\">For most retirees, a reliable income is the most important need once regular paychecks stop. As you near retirement, taking a close look at your sources of income is a helpful way to ensure that you have enough to cover your expenses. You should also consider the type of lifestyle you want to live and any potential health issues to help determine how much you should save.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-7\">Below are common sources of income in retirement:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul id=\"mntl-sc-block_2-0-9\" class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Workplace retirement plans</strong>: Retirement savings plans such as 401(k)s and IRAs are often the largest source of income for many retirees. An advisor can help you determine the most tax efficient strategy for distributing your retirement savings and how to invest so that you benefit from potential growth but don’t incur more risk than you’re comfortable with.&nbsp;&nbsp;</li><li><strong>Social Security</strong>:&nbsp;Backed by the federal government and adjusted for inflation, Social Security provides a consistent source of income throughout retirement. Depending on your circumstances, you may decide to start collecting benefits as soon as you’re eligible or to delay collecting them until you reach the maximum benefit amount. Keep in mind that your monthly benefit amount will be less if you start collecting early so it’s important to consider if your sources of income will cover your essential expenses before you reach full retirement age.</li><li><strong>Pension plans</strong>: Though less common than retirement savings plans, pensions can provide a steady stream of income to help you meet expenses and keep up with lifestyle needs.&nbsp;</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_2-0-11\">2. Address Health Care Costs</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-12\">Another big challenge retirees face are medical expenses. While an increase in medical expenses is common as you age, it can feel overwhelming as it happens. In addition to medical bills, consider your family history to get a sense of life expectancy and potential health issues. Fortunately, there are a few ways to cover those expenses.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul id=\"mntl-sc-block_2-0-14\" class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Health Savings Accounts</strong>: Also known as HSAs, health savings accounts are tax-advantaged accounts that are available only with a qualified high deductible health plan and allow you to accrue savings during your working years and apply those savings to your medical expenses after you retire. HSAs also have some unique tax benefits including tax-free access to funds if the funds are used to pay for qualified medical expenses. </li><li><strong>Long-term care</strong>: Hybrid policies combine life insurance with long-term care benefits that may help you pay for the costs of in-home care, assisted living, a nursing home or other related expenses that Medicare may not cover. Long-term or chronic care riders, available at an additional cost, may also be added to life insurance policies, allowing you to access a portion of your policy’s benefit early for care expenses.</li><li><strong>Medicare</strong>: Medicare is a federal health insurance program that provides coverage for people age 65 and older, and for some disabled people under age 65. The program consists of four parts, each of which covers different health-related expenses. Exploring your Medicare options is a great first step when it comes to covering routine costs. These include Part A (hospital insurance), Part B (medical insurance) and Part D (prescriptions). Medicare Part C, or Medicare Advantage, is the equivalent of Parts A and B coverage combined, along with some preventative services such as vision and dental. It is delivered through private insurance companies. This infographic can help you learn more about Medicare eligibility requirements, enrollment periods, and costs. </li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_2-0-16\">3. Understand Tax Implications</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-17\">As your income situation changes, your tax situation is likely to change too. To help reduce your tax impacts, it’s important to have a clear sense of which sources of income are considered taxable and which of them are tax-free. Social Security benefits, pension payments, and withdrawals of earnings from 401(k)s and IRAs are generally taxable, while certain types of withdrawals from Roth IRAs and Roth 403(b)s are typically exempt.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-19\">Work with an Ameriprise financial advisor and your tax professional to identify ways to help reduce your taxes and ensure you’re you have a tax-smart draw down strategy.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_2-0-21\">4. Establish an Estate Plan</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-22\">Establishing a comprehensive <strong>estate plan</strong> is another important part of the pre-retirement planning process. Your estate plan should take into account your existing assets and how you want them distributed in the event of your death. Although this may be difficult to think about, estate planning has some significant benefits including protecting your assets and ensuring that your wishes are fulfilled. If you currently have dependents, it can also provide certain protections for them. Once you retire, it’s a good idea to revisit your estate plan and make any adjustments as needed.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-26\"><strong>Charitable giving </strong>can also be an important part of the estate planning process and it offers benefits of its own. In addition to helping you build a lasting legacy, a charitable giving strategy can carry certain tax advantages.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.investopedia.com/preparing-for-retirement-why-income-and-health-care-should-be-top-of-mind-5201786\">click here.</a></p>\n<!-- /wp:paragraph -->','Planning for Retirement: Four Factors to Consider','','publish','open','open','','planning-for-retirement-four-factors-to-consider','','','2022-03-07 19:38:21','2022-03-07 19:38:21','',0,'http://smartinsurance.tips/?p=2185',0,'post','',0),(2186,1,'2022-03-07 19:27:30','2022-03-07 19:27:30','','My-project-6','','inherit','open','closed','','my-project-6','','','2022-03-07 19:27:30','2022-03-07 19:27:30','',2185,'http://smartinsurance.tips/wp-content/uploads/2022/03/My-project-6.png',0,'attachment','image/png',0),(124,1,'2019-12-23 20:06:39','2019-12-23 20:06:39','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 class=\"headline\" itemprop=\"headline\" style=\"text-align: center;\"><strong>5 Trends That Will Reshape Customer Service Over the Next 5 Years</strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\">\n<p style=\"text-align: center;\"><img src=\"https://assets.entrepreneur.com/content/3x2/2000/20191203214648-GettyImages-1055622600.jpeg?width=700&amp;crop=2:1\" alt=\"5 Trends That Will Reshape Customer Service Over the Next 5 Years\" /></p>\n<p style=\"text-align: center;\">\n<p style=\"text-align: left;\">Customer service isn’t static. Phones replaced house calls. Email edged out phones. To keep existing customers and attract new ones, you need cutting-edge customer service. Consumers are four times as likely to buy from a competitor after a service issue than they are after a product one, according to<span> </span><a href=\"https://www.bain.com/insights/topics/loyalty\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">research by Bain &amp; Company</a>. Still, customer-service overhauls aren’t cheap. Invest wisely by considering these five predicted trends that will shape customer service over the next five years.</p>\n<h2 style=\"text-align: left;\"><b>1. Social media will become default channels.</b></h2>\n<p style=\"text-align: left;\"><b></b></p>\n<p style=\"text-align: left;\">Just<span> </span><a href=\"http://info.microsoft.com/rs/157-GQE-382/images/EN-CNTNT-Report-DynService-2017-global-state-customer-service-en-au.pdf\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">13 percent</a> of consumers over the age of 55 have used social media for customer-service purposes, a Microsoft study showed; on the other hand, 55 percent of those aged 18-34 have. As millennials and Gen Zers make up a larger and larger share of your market, social-media outreach is likely to make up more than half of your customer-service requests.</p>\n<p style=\"text-align: left;\">Soon, putting a social-media intern in charge of your Twitter account will no longer cut it. Those running your social accounts need to understand your product or service like veteran members of your customer-service staff. Use chatbots to field common questions, freeing up time for your human service people to tackle more complex ones.</p>\n<h2 style=\"text-align: left;\"><b>2. Automation will get the human touch. </b></h2>\n<p style=\"text-align: left;\"><b></b></p>\n<p style=\"text-align: left;\">Automation and AI are hot topics in every sector, and customer service is no exception, but when customers hear “customer-service automation,” they think of automated menus and spammy robocalls. From the user’s perspective, that sort of automation is worse than none at all.</p>\n<p style=\"text-align: left;\">Used well, customer-service software can lighten an agent\'s load without erasing the human touch. Contact center software provider Five9 suggests agents use real-time transcription services, which can achieve<span> </span><a href=\"https://www.five9.com/blog/at-five9-were-excited-about-agent-assistance\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">95 percent accuracy</a><span> </span>with custom tuning, so they can focus more on the customer and less on transcription errors. Automation will be a must, but it’s best used to augment human workers.</p>\n<div class=\"banner-ad adbox adbox--called offset offset-left adbox--handled\" data-key=\"a2ad\" assigned-pos=\"5\" id=\"bdp1u0x4ya\" data-google-query-id=\"CKHIq7XIzOYCFUWjvQodQqQFAA\" style=\"text-align: left;\">\n<div id=\"google_ads_iframe_/6280/Entrepreneur-in/article_4__container__\"></div>\n</div>\n<h2 style=\"text-align: left;\"><b>3. Customer reps will give more product demos.</b></h2>\n<p style=\"text-align: left;\"><b></b></p>\n<p style=\"text-align: left;\">As more services become strictly online, your customer-service capabilities need to keep up. Customer-service platform Acquire points out that<span> </span><a href=\"https://acquire.io/blog/co-browsing-best-practice/\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">nearly half</a><span> </span>of users will leave a website if they can’t find what they’re looking for. Customer-service people need to meet them there, regardless of what the product problem is.</p>\n<p style=\"text-align: left;\">Lean on co-browsing tools, which let customer-service agents share their screens with clients in real time. If a customer still isn’t getting it, video-conferencing solutions can improve communication via nonverbal cues. Repeated videoconferencing or screen sharing around the same issue could indicate a user-interface problem.</p>\n<h2 style=\"text-align: left;\"><b>4. Customer-service teams will develop disaster plans. </b></h2>\n<p style=\"text-align: left;\"><b></b></p>\n<p style=\"text-align: left;\">Whether due to technological complexity, natural disasters or bad actors, service outages seem to be happening more frequently. Cyberattacks are a particular problem. <a href=\"https://www.securitymagazine.com/articles/90483-cybersecurity-firms-see-increase-in-cyber-attacks\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Three-fifths</a><span> </span>of firms experienced one last year, up by double digits from the year prior. One way or another, your customer-service staffers will eventually face a catastrophe. If they can’t field calls or use the internet for days, you can bet some customers will take their business elsewhere. The Small Business Administration offers<span> </span><a href=\"https://www.sba.gov/business-guide/manage-your-business/prepare-emergencies\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">checklists</a><span> </span>and safety tips specific to each type of disaster. Fill out the ones relevant to you, and share them with your team before a disaster strikes.</p>\n<h2 style=\"text-align: left;\"><b>5. Customer-service training will be companywide.</b></h2>\n<p style=\"text-align: left;\"><b></b></p>\n<p style=\"text-align: left;\">Employees like engineers and marketers may not interact directly with customers, but they need customer-service skills all the same. The reason is the rising importance of your UX. To deliver a better experience, everyone needs to know common customer pain points and solutions. Encourage people to think beyond their immediate role and subject area. Marketing software firm HubSpot<span> </span><a href=\"https://blog.hubspot.com/service/customer-service-support-training\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">trained</a><span> </span>its content team not just on marketing or writing, but also on how to represent the company online. Ensure everyone knows how to refer to your product and brand. Develop a “top 10” list explaining how to address common customer questions.</p>\n<p style=\"text-align: left;\">\n<p style=\"text-align: left;\"><span>If you’re going to grow and maintain your customer base through the 2020s, you’ll need to innovate. Technology will be key, but it needs to support -- rather than sideline -- your customer-service staff. Before the new decade begins, be sure your team knows the difference.</span></p>\n</div>\n<div align=\"center\" style=\"text-align: left;\"><span></span></div>\n<div align=\"center\" style=\"text-align: left;\"><span>To read the full article, <a href=\"https://www.entrepreneur.com/article/343367?stat=316722&amp;socialnet=linkedin\">click here</a>.</span></div>\n[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','5 Trends That Will Reshape Customer Service Over the Next 5 Years','','publish','closed','closed','','5-trends-that-will-reshape-customer-service-over-the-next-5-years','','','2019-12-23 21:42:02','2019-12-23 21:42:02','',0,'http://smartinsurance.tips/?page_id=124',0,'page','',0),(125,1,'2019-12-23 20:04:05','2019-12-23 20:04:05','<!-- wp:divi/placeholder /-->','','','inherit','closed','closed','','124-revision-v1','','','2019-12-23 20:04:05','2019-12-23 20:04:05','',124,'http://smartinsurance.tips/124-revision-v1/',0,'revision','',0),(2202,1,'2022-03-07 20:24:32','2022-03-07 20:24:32','<!-- wp:image {\"id\":2201,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/03/Garage-keepers-1024x536.png\" alt=\"\" class=\"wp-image-2201\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Garagekeepers liability insurance protects your firm against claims that result from damage to vehicles owned by your customers. As the following example demonstrates, this coverage is important if your company repairs, services, stores, or parks other people\'s autos.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-3\">Example</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-5\">Art owns a small auto repair business called A-1 Auto Service. He employs two mechanics, Bill and Ed. One day, a customer named Susan drops off her pickup truck so the shop can install a new alternator. Bill completes the work and then prepares to take the truck for a test drive. He is backing the vehicle out of the bay when he accidentally collides with a car Ed is driving into a second bay. That vehicle belongs to Frank, another customer. Both vehicles sustain body damage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-8\">Art notifies Susan and Frank about the accident and subsequently pays the cost of repairing the damage to their vehicles. A-1 Auto Service is insured under general liability and commercial auto policies. Art isn\'t sure which policy will cover the repair costs so he submits claims to both insurers. He\'s dismayed when both deny coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-11\">The insurers cite the <em>care, custody or control</em> exclusion in their respective policies. The exclusion precludes coverage for property damage to property in the insured\'s care, custody or control. The claims aren\'t covered by either policy because the vehicles were in the repair shop\'s custody when the damage occurred.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-14\">Art could have protected his shop against claims arising from damage to customers\' vehicles by purchasing <em>garagekeepers coverage.</em> This coverage may be added to a commercial auto (or motor carrier) policy via an endorsement. It is designed for businesses that take custody of customers\' vehicles in order to park, store or perform work on them. Examples are valet parking services, auto repair shops, body shops, and auto glass shops.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-16\">Garagekeepers Liability Coverage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-18\">Garagekeepers liability insurance covers sums you must legally pay as damages for loss to a customer\'s auto (or its equipment) left in your care while you are attending, servicing, repairing, parking or storing it in your&nbsp;<em>garage operations</em>. This term means the use of locations for the purpose of a business of selling, servicing, repairing, parking or storing customer\'s autos. Three coverage options are available:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul id=\"mntl-sc-block_1-0-21\" class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Comprehensive.&nbsp;</strong>Covers damage to a customer\'s auto from any cause except the auto\'s collision with another object or the auto\'s overturn</li><li><strong>Specified Causes of Loss.</strong>&nbsp;Cheaper than comprehensive coverage. Covers damage caused by fire, lightning, explosion, theft, mischief or vandalism.</li><li><strong>Collision.&nbsp;</strong>Covers damage to a customer\'s auto caused by its collision with another object or the auto\'s overturn</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-24\">The coverages described above are the same options provided under auto physical damage coverage. However, garagekeepers insurance is a third-party (liability) coverage while auto physical damage insurance is a first-party (property) coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-27\">When your auto insurer provides garagekeepers insurance, it has a duty to defend you against suits covered by the policy. The policy includes coverage for Supplementary Payments, which pay costs your insurer incurs to defend you against covered claims. These costs are covered in addition to the policy limit.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-30\"><strong>Exclusions</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-33\">Garagekeepers liability typically excludes claims or loss involving any of the following:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul id=\"mntl-sc-block_1-0-36\" class=\"has-black-color has-text-color has-medium-font-size\"><li>War, warlike action, insurrection, etc.</li><li>Theft by you, your employees or shareholders</li><li>Liability assumed under a contract</li><li>Defective parts or materials</li><li>Faulty work</li><li>Tape decks, CD players, and similar equipment not permanently installed in the vehicle</li><li>Radar detectors</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-39\"><strong>Limits and Deductibles</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-42\">The most your insurer will pay for each loss at each location is the garagekeepers limit of insurance minus the applicable deductible. Comprehensive or Specified Causes of Loss coverage may include two deductibles: one that applies to each vehicle and an \"each event\" deductible, which is the most that will be deducted for all loss in one event. The collision deductible applies to each vehicle.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-45\"><strong>Direct Coverage or Legal Liability</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-48\">Garagekeepers coverage normally applies on a&nbsp;<em>legal liability</em>&nbsp;basis. That is, it covers loss to customers\' vehicles only if you are legally liable for the damage. In the A-1 Auto Service scenario described above, the business is clearly liable for the damage to the customers\' autos because the damage was caused by A-1 employees\' negligence.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-51\">Customers\' vehicles could be damaged by perils that occur regardless of fault. An example is a tornado. Your business would not be legally liable for vehicle damage caused by a tornado, which is considered an Act of God. Nevertheless, you might choose to pay for the damage as a gesture of goodwill. The damage would be covered by your garagekeepers insurance if you have purchased&nbsp;<em>direct garagekeepers coverage.&nbsp;</em>Direct insurance covers damage to customers\' vehicles whether or not you are legally liable for the loss.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-54\"><strong>Direct Excess or Primary</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-57\">Direct coverage may apply on a primary or excess basis.&nbsp;<em>Direct primary</em>&nbsp;coverage provides first-line coverage for damage to customers\' autos in your custody regardless of your liability. When your garagekeepers insurance provides direct coverage, the customer need not file a claim under his or her own auto policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-60\">Direct primary coverage can be expensive. A cheaper alternative is<em> excess direct </em>coverage. It affords secondary coverage for losses for which you are not legally liable. Coverage is excess over any collectible other insurance. For instance, suppose a customer\'s vehicle is insured for comprehensive coverage under his personal auto policy. If the vehicle is destroyed by a tornado while in your custody, the customer\'s comprehensive coverage will apply first. If the customer has no comprehensive coverage, your direct excess coverage will pay the loss.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.thebalancesmb.com/garagekeepers-liability-462435\">click here.</a></p>\n<!-- /wp:paragraph -->','Learn About Garagekeepers Liability Insurance','','inherit','closed','closed','','2200-revision-v1','','','2022-03-07 20:24:32','2022-03-07 20:24:32','',2200,'http://smartinsurance.tips/?p=2202',0,'revision','',0),(2283,1,'2022-04-05 20:47:01','2022-04-05 20:47:01','<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Stay ahead of inflation by putting your money in high-yield savings accounts and investments.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":2225,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/Money-1-1024x536.png\" alt=\"\" class=\"wp-image-2225\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">One million dollars might sound like a lot of money — and it is — but in 10 years it will probably sound like less money because it will have less buying power than it does today.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The reason is inflation, and it can impact how you plan for your financial future. Here’s a look at what inflation is and how it can affect your savings, as well as how to keep it from derailing your short- and long-term financial goals.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">What is inflation?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Broadly speaking, inflation is the rate of increase in prices for goods and services. It can happen because of an increase in the cost of producing those goods and services. Another reason could be that demand is higher than the supply, leading to price increases. Whatever the cause, as prices rise, you\'ll need more money to buy the same things you used to buy for less.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">How inflation affects savings?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Along with a change in prices, inflation can affect your savings and how much you need to put away for unexpected financial emergencies. A good emergency savings fund should have enough money to cover three to six months of living expenses. But over time, if your expenses increase because of inflation, the amount you need to put away should increase, too, or else you could come up short in a pinch.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">How much are prices rising?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Near the end of 2021, inflation topped 6% according to the Consumer Price Index, published by the Bureau of Labor Statistics. This index is one of the most common measures of inflation. So, if you kept cash in a safe — instead of depositing it in an interest-earning savings account — you would expect it to have 6% less spending power this time next year due to inflation if the rate stays the same. For historical context, the long-term average rate of inflation has generally been between 2% and 4% annually.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Where to put your money to help combat inflation?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You can’t stop inflation, but you can make your money work to try and keep up with it. These strategies can help.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">Put short-term savings in a high-yield account</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The best savings accounts currently earn around 0.40% annual percentage yield and while that may not currently beat inflation, it is much more than the average savings rate of 0.06%, and will get you more money than the zero extra dollars you’d earn if you stash your cash in a safe. It\'s important to note that the role of your short-term savings is to provide easy access to your money when you need it, not necessarily keep up with inflation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You’ll want to get in the habit of adding up your monthly expenses on a regular basis and comparing the total to how much you have saved (remember that three to six months’ worth is ideal). If your savings balance needs a boost, consider setting up regular automatic deposits from checking to savings — you could transfer a certain amount each payday, for example — to build your rainy day fund.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">Use investments for long-term savings</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If your short-term savings is fully funded and you are looking for ways to make your extra money work harder against inflation, consider that the stock market has had average returns in the past century of about 10% annually. There is no guarantee that future earnings will continue to match that rate, and when you factor in inflation, it could leave the real return closer to 4%. But even so, investments can be your best bet for earning long-term returns that beat inflation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If you are saving for retirement, you can put your investments in a 401(k) or IRA and take advantage of valuable tax benefits, too.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Should I worry about the cost of inflation?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Inflation isn’t always bad news. As prices rise due to increased demand, businesses may need to hire more workers to fill that demand, which can lead to higher wages. In addition, government benefits, including Social Security, may have cost-of-living increases. If recipients are able to keep at least some costs low, it could mean more spending power.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Lower inflation rates, on the other hand, can lead to lower interest rates, which makes it harder for savers to earn high yields in their accounts. Overall, the Federal Reserve holds its long-term target rate for inflation at 2%.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You can’t control inflation, but you don’t have to let it erode your savings, either. Be smart about where you put your money, keep an eye on your expenses and you can reach your savings goals without missing a beat.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.nerdwallet.com/article/banking/how-to-stop-inflation-from-sinking-your-savings-goals\">click here.</a></p>\n<!-- /wp:paragraph -->','How to Shore Up Your Savings Against Inflation?','','inherit','closed','closed','','2224-revision-v1','','','2022-04-05 20:47:01','2022-04-05 20:47:01','',2224,'http://smartinsurance.tips/?p=2283',0,'revision','',0),(2270,1,'2022-04-05 20:14:26','2022-04-05 20:14:26','<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Stay ahead of inflation by putting your money in high-yield savings accounts and investments.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:image {\"id\":2225,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/04/Money-1-1024x536.png\" alt=\"\" class=\"wp-image-2225\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><em>The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities&nbsp;or other investments.</em></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">One million dollars might sound like a lot of money — and it is — but in 10 years it will probably sound like less money because it will have less buying power than it does today.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The reason is inflation, and it can impact how you plan for your financial future. Here’s a look at what inflation is and how it can affect your savings, as well as how to keep it from derailing your short- and long-term financial goals.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">What is inflation?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Broadly speaking, inflation is the rate of increase in prices for goods and services. It can happen because of an increase in the cost of producing those goods and services. Another reason could be that demand is higher than the supply, leading to price increases. Whatever the cause, as prices rise, you\'ll need more money to buy the same things you used to buy for less.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">How inflation affects savings?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Along with a change in prices, inflation can affect your savings and how much you need to put away for unexpected financial emergencies. A good emergency savings fund should have enough money to cover three to six months of living expenses. But over time, if your expenses increase because of inflation, the amount you need to put away should increase, too, or else you could come up short in a pinch.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">How much are prices rising?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Near the end of 2021, inflation topped 6% according to the Consumer Price Index, published by the Bureau of Labor Statistics. This index is one of the most common measures of inflation. So, if you kept cash in a safe — instead of depositing it in an interest-earning savings account — you would expect it to have 6% less spending power this time next year due to inflation if the rate stays the same. For historical context, the long-term average rate of inflation has generally been between 2% and 4% annually.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Where to put your money to help combat inflation?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You can’t stop inflation, but you can make your money work to try and keep up with it. These strategies can help.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">Put short-term savings in a high-yield account</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The best savings accounts currently earn around 0.40% annual percentage yield and while that may not currently beat inflation, it is much more than the average savings rate of 0.06%, and will get you more money than the zero extra dollars you’d earn if you stash your cash in a safe. It\'s important to note that the role of your short-term savings is to provide easy access to your money when you need it, not necessarily keep up with inflation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You’ll want to get in the habit of adding up your monthly expenses on a regular basis and comparing the total to how much you have saved (remember that three to six months’ worth is ideal). If your savings balance needs a boost, consider setting up regular automatic deposits from checking to savings — you could transfer a certain amount each payday, for example — to build your rainy day fund.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">Use investments for long-term savings</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If your short-term savings is fully funded and you are looking for ways to make your extra money work harder against inflation, consider that the stock market has had average returns in the past century of about 10% annually. There is no guarantee that future earnings will continue to match that rate, and when you factor in inflation, it could leave the real return closer to 4%. But even so, investments can be your best bet for earning long-term returns that beat inflation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">If you are saving for retirement, you can put your investments in a 401(k) or IRA and take advantage of valuable tax benefits, too.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Should I worry about the cost of inflation?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Inflation isn’t always bad news. As prices rise due to increased demand, businesses may need to hire more workers to fill that demand, which can lead to higher wages. In addition, government benefits, including Social Security, may have cost-of-living increases. If recipients are able to keep at least some costs low, it could mean more spending power.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Lower inflation rates, on the other hand, can lead to lower interest rates, which makes it harder for savers to earn high yields in their accounts. Overall, the Federal Reserve holds its long-term target rate for inflation at 2%.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">You can’t control inflation, but you don’t have to let it erode your savings, either. Be smart about where you put your money, keep an eye on your expenses and you can reach your savings goals without missing a beat.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.nerdwallet.com/article/banking/how-to-stop-inflation-from-sinking-your-savings-goals\">click here.</a></p>\n<!-- /wp:paragraph -->','How to Shore Up Your Savings Against Inflation?','','inherit','closed','closed','','2224-revision-v1','','','2022-04-05 20:14:26','2022-04-05 20:14:26','',2224,'http://smartinsurance.tips/?p=2270',0,'revision','',0),(2204,1,'2022-03-07 20:30:15','2022-03-07 20:30:15','<!-- wp:image {\"id\":2205,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/03/Restaurant-1024x536.png\" alt=\"\" class=\"wp-image-2205\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"fontSize\":\"medium\"} -->\n<p class=\"has-medium-font-size\">If you operate a restaurant, it\'s important to ensure that your business is properly protected by insurance. Most restaurants obtain commercial property and liability coverages by purchasing a business owners policy (BOP) or a standard package policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-3\">General Liability</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-5\">A restaurant needs general liability insurance to cover bodily injury or property damage claims that result from accidents, like slips and falls. The policy also covers product liability, which protects your restaurant from claims arising from food-borne illnesses.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-8\">Food that customers consume on your premises may not qualify as a \'product\' under your policy unless an endorsement called Product/Completed Operations Hazard Redefined is attached. This endorsement ensures that claims arising out of the food you sell will be covered under products/completed operations coverage, whether it is eaten on or off your premises.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-11\">Buildings that house restaurants are prone to damage by fire. Moreover, many restaurant owners lease the building in which they operate. If you accidentally start a fire that damages a building you rent, your landlord might sue you for property damage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-14\">Fortunately, a liability policy automatically includes a coverage called Damage To Premises Rented To You. This coverage is usually subject to a sublimit, such as $100,000. Make sure your limit is adequate. Some insurers will provide $300,000 or more. Some will cover include this coverage without a sublimit.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-17\">Perhaps your restaurant provides valet parking. If you accidentally damage a customer\'s vehicle while parking it, will the damage be covered by your liability policy? The answer is no due to the care, custody or control exclusion. Fortunately, you can insure your business against such damage by purchasing garage keepers liability coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-20\">If your business provides health insurance, dental coverage or other benefits to workers, you should consider buying employee benefits liability insurance. This coverage will protect you against lawsuits arising from clerical errors or administrative mistakes you make while handling employee benefits.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-22\">Other Liability Coverages</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-24\">Here are some different liability coverages a restaurant may need.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul id=\"mntl-sc-block_1-0-27\" class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Liquor Liability:</strong> General liability policies exclude claims for bodily injury or property damage for which you may be held liable if you caused or contributed to someone\'s intoxication through the sale or service of liquor. If your restaurant sells or serves alcoholic beverages, you\'ll need to purchase liquor liability insurance.</li><li><strong>Employment Practices Liability:</strong> Employees may sue restaurants for discrimination, harassment, and other workplace torts. Such torts aren\'t covered by general liability insurance. To protect your business, you\'ll need to purchase employment practices liability coverage.</li><li><strong>Umbrella:</strong> A commercial umbrella affords extra limits over those provided by your general liability and commercial auto policies. It also covers some claims that aren\'t covered by those policies.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-29\">Commercial Property Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-31\">Here are some property coverages a restaurant owner should consider:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul id=\"mntl-sc-block_1-0-34\" class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Sewer Backup:</strong> If sewer water backs up into your restaurant, you\'ll have a huge mess on your hands. To make matters worse, sewer backup is an excluded peril under a typical property policy. To protect yourself, be sure you buy sewer backup coverage.</li><li><strong>Business Income:</strong> If a fire or another peril damages property at your restaurant and your business is forced to shut down, you could suffer a significant income loss. You can avoid such events by purchasing business income coverage.</li><li><strong>Utility Interruption:</strong> Most restaurants require electricity, gas, water, and communications services to operate. An interruption of any of these can cause damage to your property. It may also force you to shut down your restaurant. You can protect your business by purchasing utility interruption coverage.</li><li><strong>Extra Expense:</strong> If a fire or another peril damage property at your restaurant, you may be able to continue operating while repairs are performed by renting other equipment or moving to a temporary location. To ensure those additional costs will be covered, you\'ll need to purchase extra expense coverage.</li><li><strong>Spoilage:</strong> Food stored in refrigerators or freezers may spoil if cooling equipment breaks down or shuts off due to a power outage. You can insure your restaurant against costly spoilage losses by purchasing spoilage coverage.</li><li><strong>Equipment Breakdown:</strong> Many restaurants depend on machinery like steamers, boilers, ovens, refrigerators, freezers, ice makers, and food warmers. This equipment can be damaged by a steam explosion or by an electrical or mechanical breakdown. To cover such damage, you need equipment breakdown insurance. The latter can be extended to include loss of income, extra expense, and spoilage coverages.</li><li><strong>Electronic Data Processing:</strong> Most restaurants use computers to create, store, send, and receive electronic documents. Some use electronic table ordering systems. Most property policies afford minimal coverage for electronic data and equipment so you should consider buying electronic data processing coverage.</li><li><strong>Fine Arts:</strong> Is your restaurant decorated with paintings, statuary or other artwork? If so, protect your investment by buying fine arts coverage.</li><li><strong>Employee Theft:</strong> Restaurant employees may steal food, cash, and other property from their employers. Theft by employees is an excluded peril under a typical property policy. To protect your business, you\'ll need to buy employee theft coverage.</li><li><strong>Peak Season:</strong> You should consider buying this coverage if your restaurant generates a high volume of business at certain times of the year, such as the summer months or the Christmas season. It provides a higher limit for personal property coverage during a specified period. Many BOPs automatically include this coverage, offering a 25 percent seasonal increase.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-36\">Commercial Auto Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-38\">Many restaurants own vehicles they use for picking up supplies, delivering food or other business purposes. Business-owned vehicles should be insured under a business auto policy. The policy should cover non-owned autos and hired autos as well as vehicles the restaurant owns.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.thebalancesmb.com/what-coverages-does-your-restaurant-need-4171752\">click here.</a></p>\n<!-- /wp:paragraph -->','What Insurance Coverages Does Your Restaurant Need?','','publish','open','open','','what-insurance-coverages-does-your-restaurant-need','','','2022-03-07 20:30:17','2022-03-07 20:30:17','',0,'http://smartinsurance.tips/?p=2204',0,'post','',0),(2205,1,'2022-03-07 20:25:48','2022-03-07 20:25:48','','Restaurant','','inherit','open','closed','','restaurant','','','2022-03-07 20:25:48','2022-03-07 20:25:48','',2204,'http://smartinsurance.tips/wp-content/uploads/2022/03/Restaurant.png',0,'attachment','image/png',0),(2191,1,'2022-03-07 20:04:14','2022-03-07 20:04:14','<!-- wp:image {\"id\":2192,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/03/Ledearship-1024x536.png\" alt=\"\" class=\"wp-image-2192\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Every year when summer rolls around, it’s easy to be hit with summer fever, restlessness or stress when business is slow. Hobbies are the perfect solution if you don’t have an imminent vacation planned, but you need to unwind. There are plenty hobbies that can aid your stress levels and improve your leadership skills simultaneously. And the best part? You don’t have to shell out the big bucks to try them out.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">When you spend the majority of your day working, your brain can struggle to make the right choices. Hobbies can refresh your ability to focus and concentrate throughout the day. By opting to take on a hobby, you are giving your brain a much-needed rest. On top of that, a well-selected hobby can teach you valuable business skills such as patience and creativity, and give you a sense of accomplishment that can assist your day job.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">There is much talk about leaders failing to achieve a balance between their work and their home life, and a hobby can help them bridge the gap. Your choice of hobby doesn’t even need to relate to your profession to make a difference in your work performance. Sometimes the less relevant it is – the better!</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Here is a selection of cheap pastimes that you might want to consider.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">Practice Yoga</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Yoga is great for your mind and body and can be practiced at any time of the day or night. You can do it with a group or by yourself. You don’t even need to spend a lot of money on expensive classes as YouTube can give you some excellent pointers free of charge. While you may struggle with some of the poses initially, the more you practice, the better your body and mind will respond to the exercises. Physical movement such as yoga can even improve your sleep habits, making your business day run smoother and leaving your mind clearer.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">Learn a Musical Instrument</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Practicing something over and over is a good habit to get into. Music can help your listening skills and hone your self-discipline. If you decide to play instruments with other people, then you can also get a sense of collaboration as well. Other than the initial outlay of purchasing the instrument, there is no huge cost to playing music. And of course, you can always use your new found musical skills at your local church or event.  </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">Be a Mentor</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">A great way to hone your leadership skills while recharging the batteries when you’re away from the office is to mentor others. Programs like Junior Achievement or even giving back as a life coach can really help you to share your knowledge and experience to impact people in your local community. As a leader you have wisdom to give, so why not pay it forward to the next generation of leaders?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">Volunteer</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">While volunteering may not sound like a hobby in itself, it can offer many benefits. Helping others will provide you with a strong sense of community and positively affect your well-being. It can also improve your networking skills and give you a sense of empowerment, ultimately boosting your confidence. Volunteering can often give you a more broadened perspective of the world and help build your skills depending on your volunteering responsibilities. The only cost that is involved with volunteering is the time you commit to the organization.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">Play a Sport</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Playing a competitive team sport is an excellent way to get fit and create bonds with others. Athletes have an amazing ability to focus on a task – taking that focus into the boardroom will benefit the entire organization. Leaders and athletes often have skills which overlap; both are known to manage their time well, communicate effectively and work hard. Consider your sports options wisely – in all likelihood it will depend on your time commitment. Despite sport being a physical hobby, it can also allow you to take your mind off the stress at work and provide a necessary breather.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">Try Creative Writing</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Creative writing is an ideal way to let off steam – all you need is a pen and paper, or a tablet or laptop, to begin. You can try your hand at writing poetry, short stories, a novel or even a blog to relax. You may find that once you get into the swing of things that you have a story or a piece worth publishing. Writing for pleasure is a lot different than just writing for profit – you can let your mind and pen wander. Writing can help with issues such as being able to express yourself wholly or comfortably. The more you write, the easier you will find it is to locate your writing voice.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.benchmarkone.com/blog/cheap-hobbies-better-leader/\">click here.</a></p>\n<!-- /wp:paragraph -->','5 Cheap Hobbies You Can Adopt To Maintain Your Sanity (AND Be a Better Leader)','','publish','open','open','','5-cheap-hobbies-you-can-adopt-to-maintain-your-sanity-and-be-a-better-leader','','','2022-03-07 20:04:16','2022-03-07 20:04:16','',0,'http://smartinsurance.tips/?p=2191',0,'post','',0),(2192,1,'2022-03-07 20:00:06','2022-03-07 20:00:06','','Ledearship','','inherit','open','closed','','ledearship','','','2022-03-07 20:00:06','2022-03-07 20:00:06','',2191,'http://smartinsurance.tips/wp-content/uploads/2022/03/Ledearship.png',0,'attachment','image/png',0),(2193,1,'2022-03-07 20:04:14','2022-03-07 20:04:14','<!-- wp:image {\"id\":2192,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/03/Ledearship-1024x536.png\" alt=\"\" class=\"wp-image-2192\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Every year when summer rolls around, it’s easy to be hit with summer fever, restlessness or stress when business is slow. Hobbies are the perfect solution if you don’t have an imminent vacation planned, but you need to unwind. There are plenty hobbies that can aid your stress levels and improve your leadership skills simultaneously. And the best part? You don’t have to shell out the big bucks to try them out.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">When you spend the majority of your day working, your brain can struggle to make the right choices. Hobbies can refresh your ability to focus and concentrate throughout the day. By opting to take on a hobby, you are giving your brain a much-needed rest. On top of that, a well-selected hobby can teach you valuable business skills such as patience and creativity, and give you a sense of accomplishment that can assist your day job.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">There is much talk about leaders failing to achieve a balance between their work and their home life, and a hobby can help them bridge the gap. Your choice of hobby doesn’t even need to relate to your profession to make a difference in your work performance. Sometimes the less relevant it is – the better!</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Here is a selection of cheap pastimes that you might want to consider.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">Practice Yoga</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Yoga is great for your mind and body and can be practiced at any time of the day or night. You can do it with a group or by yourself. You don’t even need to spend a lot of money on expensive classes as YouTube can give you some excellent pointers free of charge. While you may struggle with some of the poses initially, the more you practice, the better your body and mind will respond to the exercises. Physical movement such as yoga can even improve your sleep habits, making your business day run smoother and leaving your mind clearer.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">Learn a Musical Instrument</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Practicing something over and over is a good habit to get into. Music can help your listening skills and hone your self-discipline. If you decide to play instruments with other people, then you can also get a sense of collaboration as well. Other than the initial outlay of purchasing the instrument, there is no huge cost to playing music. And of course, you can always use your new found musical skills at your local church or event.  </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">Be a Mentor</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">A great way to hone your leadership skills while recharging the batteries when you’re away from the office is to mentor others. Programs like Junior Achievement or even giving back as a life coach can really help you to share your knowledge and experience to impact people in your local community. As a leader you have wisdom to give, so why not pay it forward to the next generation of leaders?</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">Volunteer</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">While volunteering may not sound like a hobby in itself, it can offer many benefits. Helping others will provide you with a strong sense of community and positively affect your well-being. It can also improve your networking skills and give you a sense of empowerment, ultimately boosting your confidence. Volunteering can often give you a more broadened perspective of the world and help build your skills depending on your volunteering responsibilities. The only cost that is involved with volunteering is the time you commit to the organization.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">Play a Sport</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Playing a competitive team sport is an excellent way to get fit and create bonds with others. Athletes have an amazing ability to focus on a task – taking that focus into the boardroom will benefit the entire organization. Leaders and athletes often have skills which overlap; both are known to manage their time well, communicate effectively and work hard. Consider your sports options wisely – in all likelihood it will depend on your time commitment. Despite sport being a physical hobby, it can also allow you to take your mind off the stress at work and provide a necessary breather.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\">Try Creative Writing</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Creative writing is an ideal way to let off steam – all you need is a pen and paper, or a tablet or laptop, to begin. You can try your hand at writing poetry, short stories, a novel or even a blog to relax. You may find that once you get into the swing of things that you have a story or a piece worth publishing. Writing for pleasure is a lot different than just writing for profit – you can let your mind and pen wander. Writing can help with issues such as being able to express yourself wholly or comfortably. The more you write, the easier you will find it is to locate your writing voice.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.benchmarkone.com/blog/cheap-hobbies-better-leader/\">click here.</a></p>\n<!-- /wp:paragraph -->','5 Cheap Hobbies You Can Adopt To Maintain Your Sanity (AND Be a Better Leader)','','inherit','closed','closed','','2191-revision-v1','','','2022-03-07 20:04:14','2022-03-07 20:04:14','',2191,'http://smartinsurance.tips/?p=2193',0,'revision','',0),(2194,1,'2022-03-07 20:11:38','2022-03-07 20:11:38','<!-- wp:image {\"id\":2195,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/03/Contractor-insurance-1024x536.png\" alt=\"\" class=\"wp-image-2195\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><em>What types of insurance should a contractor have? This guest post from Rachel Porter at Custom Contractors Insurance provides an overview of how to protect your business.</em></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Owning a contracting business carries inherent risks. There are many possibilities for people to suffer injuries or for properties to sustain damage. Whatever physical injury or property damage takes place on the jobsite, you can be sure it’s the contractor who will be on the receiving end of a claim—and may be forced to pay for it out of pocket.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">However, contractors don’t need to risk losing money or closing shop because of a claim. As long as they have proper insurance coverage, they should be able to settle claims and continue business as usual.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Here are some types of insurance a contractor should have or consider getting:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\"><strong>1. Commercial General Liability Insurance&nbsp;</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Commercial general liability is one of the most common types of insurance for contractors. It offers coverage against claims made by third parties for physical injury or property damage that happened during contracting work. Aside from paying the compensation amount, commercial general liability insurance also covers the legal expenses incurred during litigation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\"><strong>2. Workers Compensation</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">As its name suggests, workers compensation makes sure employees are covered in case of on-the-job accidents. Medical treatment, disability income, and rehabilitation costs, as well as compensation to families for work-related deaths are typically covered by this kind of policy. Workers compensation is necessary for the protection of employers from suits that injured employees or families of deceased staff may file in court.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\"><strong>3. Contractors Pollution Insurance</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">There are strict environmental laws in place that all builders are expected to follow to the letter. Considering the ever-present risk of pollution whenever a builder operates, contractors always face the risk of getting sued by third parties for violating those environmental laws. Contractors pollution insurance can protect builders and other types of contractors from such claims, which could prove to be detrimental to their business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\"><strong>4. Automobile Liability Insurance</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Contractors transport material, equipment, and workers to a construction site using a variety of vehicles and heavy trucks. In case these vehicles cause property damage, bodily injury, or death at the construction site, whoever owns those vehicles is liable to compensate third parties who file a claim. Automobile liability insurance provides coverage for any third-party claims in case of injury, damage, or loss, and it will also cover all legal costs incurred while the claims are being deliberated in court.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\"><strong>5. Builders Risk Insurance</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">A construction project involves lots of materials and equipment that could get lost, stolen, or damaged. Builders risk insurance helps protect builders and contractors from those losses. This type of insurance is also beneficial for subcontractors and equipment owners involved in the project. It’s typically provided along with contractor\'s general liability insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\"><strong>6. Roofers Insurance</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Roofers insurance is a kind of general liability insurance that provides coverage for roofing contractors whose workers get involved in a workplace accident that leads to physical injury or property damage. Considering that roofers work at a certain height, the risk of accidents is so much higher, whether it’s a worker taking a misstep or a tool falling from the roof.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">These are just some of the types of insurance a contracting business should have or consider to protect themselves and their business. While some contractors might be concerned about paying premiums, they only have to think about the real possibility that they could be forced to close if they have to pay for claims out of their own pockets.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Don’t wait until an accident happens—and stop wondering what types of insurance should a contractor have. Always talk to an insurance professional with experience insuring contracting businesses to make sure you’re adequately covered and that you’re compliant with your state’s insurance requirements for contractors.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.equipter.com/equipter-articles/contactor-insurance\">click here.</a></p>\n<!-- /wp:paragraph -->','What Types of Insurance Should a Contractor Have?','','publish','open','open','','what-types-of-insurance-should-a-contractor-have','','','2022-03-08 19:13:55','2022-03-08 19:13:55','',0,'http://smartinsurance.tips/?p=2194',0,'post','',0),(2195,1,'2022-03-07 20:08:18','2022-03-07 20:08:18','','Contractor-insurance','','inherit','open','closed','','contractor-insurance','','','2022-03-07 20:08:18','2022-03-07 20:08:18','',2194,'http://smartinsurance.tips/wp-content/uploads/2022/03/Contractor-insurance.png',0,'attachment','image/png',0),(2196,1,'2022-03-07 20:11:38','2022-03-07 20:11:38','<!-- wp:image {\"id\":2195,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/03/Contractor-insurance-1024x536.png\" alt=\"\" class=\"wp-image-2195\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><em>What types of insurance should a contractor have? This guest post from Rachel Porter at Custom Contractors Insurance provides an overview of how to protect your business.</em></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Owning a contracting business carries inherent risks. There are many possibilities for people to suffer injuries or for properties to sustain damage. Whatever physical injury or property damage takes place on the jobsite, you can be sure it’s the contractor who will be on the receiving end of a claim—and may be forced to pay for it out of pocket.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">However, contractors don’t need to risk losing money or closing shop because of a claim. As long as they have proper insurance coverage, they should be able to settle claims and continue business as usual.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Here are some types of insurance a contractor should have or consider getting:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\"><strong>1. Commercial General Liability Insurance&nbsp;</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Commercial general liability is one of the most common types of insurance for contractors. It offers coverage against claims made by third parties for physical injury or property damage that happened during contracting work. Aside from paying the compensation amount, commercial general liability insurance also covers the legal expenses incurred during litigation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"fontSize\":\"large\"} -->\n<h3 class=\"has-large-font-size\"><strong>2. Workers Compensation</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">As its name suggests, workers compensation makes sure employees are covered in case of on-the-job accidents. Medical treatment, disability income, and rehabilitation costs, as well as compensation to families for work-related deaths are typically covered by this kind of policy. Workers compensation is necessary for the protection of employers from suits that injured employees or families of deceased staff may file in court.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\"><strong>3. Contractors Pollution Insurance</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">There are strict environmental laws in place that all builders are expected to follow to the letter. Considering the ever-present risk of pollution whenever a builder operates, contractors always face the risk of getting sued by third parties for violating those environmental laws. Contractors pollution insurance can protect builders and other types of contractors from such claims, which could prove to be detrimental to their business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\"><strong>4. Automobile Liability Insurance</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Contractors transport material, equipment, and workers to a construction site using a variety of vehicles and heavy trucks. In case these vehicles cause property damage, bodily injury, or death at the construction site, whoever owns those vehicles is liable to compensate third parties who file a claim. Automobile liability insurance provides coverage for any third-party claims in case of injury, damage, or loss, and it will also cover all legal costs incurred while the claims are being deliberated in court.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\"><strong>5. Builders Risk Insurance</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">A construction project involves lots of materials and equipment that could get lost, stolen, or damaged. Builders risk insurance helps protect builders and contractors from those losses. This type of insurance is also beneficial for subcontractors and equipment owners involved in the project. It’s typically provided along with contractor\'s general liability insurance.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\"><strong>6. Roofers Insurance</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Roofers insurance is a kind of general liability insurance that provides coverage for roofing contractors whose workers get involved in a workplace accident that leads to physical injury or property damage. Considering that roofers work at a certain height, the risk of accidents is so much higher, whether it’s a worker taking a misstep or a tool falling from the roof.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">These are just some of the types of insurance a contracting business should have or consider to protect themselves and their business. While some contractors might be concerned about paying premiums, they only have to think about the real possibility that they could be forced to close if they have to pay for claims out of their own pockets.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Don’t wait until an accident happens—and stop wondering what types of insurance should a contractor have. Always talk to an insurance professional with experience insuring contracting businesses to make sure you’re adequately covered and that you’re compliant with your state’s insurance requirements for contractors.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.equipter.com/equipter-articles/contactor-insurance\">click here.</a></p>\n<!-- /wp:paragraph -->','What Types of Insurance Should a Contractor Have?','','inherit','closed','closed','','2194-revision-v1','','','2022-03-07 20:11:38','2022-03-07 20:11:38','',2194,'http://smartinsurance.tips/?p=2196',0,'revision','',0),(2197,1,'2022-03-07 20:18:19','2022-03-07 20:18:19','<!-- wp:image {\"id\":2198,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/03/Professional-liability-1024x536.png\" alt=\"\" class=\"wp-image-2198\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Professional liability insurance&nbsp;(PLI) is insurance that protects professionals such as accountants, lawyers, and physicians against negligence and other claims initiated by their clients. Professionals who have expertise in a specific area require this type of insurance because general&nbsp;liability insurance&nbsp;policies do not offer protection against claims arising out of business or professional practices such as negligence, malpractice, or&nbsp;misrepresentation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block-callout-heading_1-0\">KEY TAKEAWAYS</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li>Professional liability insurance is used in businesses to protect against claims of negligence.</li><li>Professionals such as accountants and doctors use this insurance to protect themselves against client claims of negligence or malpractice.</li><li>Professional liability insurance is also referred to as medical malpractice insurance or errors and omissions insurance, depending on the professional.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-5\">How Professional Liability Insurance Works?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-6\">Depending on the profession, professional liability insurance may have different names, such as medical&nbsp;malpractice insurance&nbsp;for the medical profession, and errors &amp; omissions insurance for real estate agents. Professional liability insurance is a specialty coverage that is not provided under homeowners\' endorsements, in-home business policies, or business-owners\' policies. It only covers claims made during the policy period.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-8\">Professional liability insurance policies&nbsp;are usually arranged on a claims-made basis, which means coverage is good only for claims made during the policy period. Typical professional liability&nbsp;policies&nbsp;will indemnify&nbsp;the insured against loss arising from any claim or claims made during the policy period by reason of any covered error, omission or negligent act committed in the conduct of the insured\'s professional business during the policy period. Incidents occurring before the coverage was activated&nbsp;may not be covered, although some policies may include&nbsp;a retroactive date.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-10\">What Professional Liability Insurance Does Not Include?</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-11\">Coverage does not include&nbsp;criminal prosecution, nor all forms of&nbsp;legal liability&nbsp;under&nbsp;civil law, only those listed in the policy. Cyber liability, covering data breach and other technology issues, may not necessarily be included in core policies. However, insurance that covers data security and other technology security-related issues is available as a separate policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-13\">Professional Liability Policy Wording</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-14\">Some professional liability&nbsp;policies are worded&nbsp;more tightly&nbsp;than others. While a number of policy wordings are designed to satisfy a stated minimum approved wording, which makes them easier to compare, others differ dramatically in the coverages they provide. For example, breach of duty may be included if the incident occurred and was reported by the policyholder to the insurer during the policy period.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-16\">Wordings with major legal differences can be confusingly similar to non-lawyers. For instance, coverage for \"negligent act, error or omission\" indemnifies the policyholder against loss/circumstances incurred only as a result of any professional error or omission, or negligent act (i.e., the modifier \"negligent\" does not apply to all three categories, though any non-legal reader might assume that it did). Meanwhile, a&nbsp;\"negligent act, negligent error or negligent omission\" clause is a much more restrictive policy, which would deny coverage in a lawsuit alleging a non-negligent error or omission.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-18\">Example of Professional Liability Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-19\">Medical malpractice insurance is a common example of a type of professional liability insurance. Medical professionals do their work under the not inconsiderable threat of facing lawsuits for alleged medical malpractice, which is defined as an act or omission by a medical provider in which they provide treatment that falls below the standard of care, resulting in injury to or the death of the patient. While most medical malpractice cases are treated as civil torts in the United States, medical malpractice insurance can offset the cost of such lawsuits to providers.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.investopedia.com/terms/p/professional-liability-insurance.asp\">click here.</a></p>\n<!-- /wp:paragraph -->','What Is Professional Liability Insurance?','','publish','open','open','','what-is-professional-liability-insurance','','','2022-03-08 19:13:20','2022-03-08 19:13:20','',0,'http://smartinsurance.tips/?p=2197',0,'post','',0),(2198,1,'2022-03-07 20:13:44','2022-03-07 20:13:44','','Professional-liability','','inherit','open','closed','','professional-liability','','','2022-03-07 20:13:44','2022-03-07 20:13:44','',2197,'http://smartinsurance.tips/wp-content/uploads/2022/03/Professional-liability.png',0,'attachment','image/png',0),(2199,1,'2022-03-07 20:18:19','2022-03-07 20:18:19','<!-- wp:image {\"id\":2198,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/03/Professional-liability-1024x536.png\" alt=\"\" class=\"wp-image-2198\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Professional liability insurance (PLI) is insurance that protects professionals such as accountants, lawyers, and physicians against negligence and other claims initiated by their clients. Professionals who have expertise in a specific area require this type of insurance because general liability insurance policies do not offer protection against claims arising out of business or professional practices such as negligence, malpractice, or misrepresentation.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block-callout-heading_1-0\">KEY TAKEAWAYS</h3>\n<!-- /wp:heading -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li>Professional liability insurance is used in businesses to protect against claims of negligence.</li><li>Professionals such as accountants and doctors use this insurance to protect themselves against client claims of negligence or malpractice.</li><li>Professional liability insurance is also referred to as medical malpractice insurance or errors and omissions insurance, depending on the professional.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-5\">How Professional Liability Insurance Works</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-6\">Depending on the profession, professional liability insurance may have different names, such as medical malpractice insurance for the medical profession, and errors &amp; omissions insurance for real estate agents. Professional liability insurance is a specialty coverage that is not provided under homeowners\' endorsements, in-home business policies, or business-owners\' policies. It only covers claims made during the policy period.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-8\">Professional liability insurance policies are usually arranged on a claims-made basis, which means coverage is good only for claims made during the policy period. Typical professional liability policies will indemnify the insured against loss arising from any claim or claims made during the policy period by reason of any covered error, omission or negligent act committed in the conduct of the insured\'s professional business during the policy period. Incidents occurring before the coverage was activated may not be covered, although some policies may include a retroactive date.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-10\">What Professional Liability Insurance Does Not Include</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-11\">Coverage does not include criminal prosecution, nor all forms of legal liability under civil law, only those listed in the policy. Cyber liability, covering data breach and other technology issues, may not necessarily be included in core policies. However, insurance that covers data security and other technology security-related issues is available as a separate policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h3 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-13\">Professional Liability Policy Wording</h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-14\">Some professional liability&nbsp;policies are worded&nbsp;more tightly&nbsp;than others. While a number of policy wordings are designed to satisfy a stated minimum approved wording, which makes them easier to compare, others differ dramatically in the coverages they provide. For example, breach of duty may be included if the incident occurred and was reported by the policyholder to the insurer during the policy period.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-16\">Wordings with major legal differences can be confusingly similar to non-lawyers. For instance, coverage for \"negligent act, error or omission\" indemnifies the policyholder against loss/circumstances incurred only as a result of any professional error or omission, or negligent act (i.e., the modifier \"negligent\" does not apply to all three categories, though any non-legal reader might assume that it did). Meanwhile, a&nbsp;\"negligent act, negligent error or negligent omission\" clause is a much more restrictive policy, which would deny coverage in a lawsuit alleging a non-negligent error or omission.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-18\">Example of Professional Liability Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-19\">Medical malpractice insurance is a common example of a type of professional liability insurance. Medical professionals do their work under the not inconsiderable threat of facing lawsuits for alleged medical malpractice, which is defined as an act or omission by a medical provider in which they provide treatment that falls below the standard of care, resulting in injury to or the death of the patient. While most medical malpractice cases are treated as civil torts in the United States, medical malpractice insurance can offset the cost of such lawsuits to providers. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.equipter.com/equipter-articles/contactor-insurance\">click here.</a></p>\n<!-- /wp:paragraph -->','What Is Professional Liability Insurance?','','inherit','closed','closed','','2197-revision-v1','','','2022-03-07 20:18:19','2022-03-07 20:18:19','',2197,'http://smartinsurance.tips/?p=2199',0,'revision','',0),(2200,1,'2022-03-07 20:24:32','2022-03-07 20:24:32','<!-- wp:image {\"id\":2201,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/03/Garage-keepers-1024x536.png\" alt=\"\" class=\"wp-image-2201\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Garagekeepers liability insurance protects your firm against claims that result from damage to vehicles owned by your customers. As the following example demonstrates, this coverage is important if your company repairs, services, stores, or parks other people\'s autos.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-3\">Example</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-5\">Art owns a small auto repair business called A-1 Auto Service. He employs two mechanics, Bill and Ed. One day, a customer named Susan drops off her pickup truck so the shop can install a new alternator. Bill completes the work and then prepares to take the truck for a test drive. He is backing the vehicle out of the bay when he accidentally collides with a car Ed is driving into a second bay. That vehicle belongs to Frank, another customer. Both vehicles sustain body damage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-8\">Art notifies Susan and Frank about the accident and subsequently pays the cost of repairing the damage to their vehicles. A-1 Auto Service is insured under general liability and commercial auto policies. Art isn\'t sure which policy will cover the repair costs so he submits claims to both insurers. He\'s dismayed when both deny coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-11\">The insurers cite the <em>care, custody or control</em> exclusion in their respective policies. The exclusion precludes coverage for property damage to property in the insured\'s care, custody or control. The claims aren\'t covered by either policy because the vehicles were in the repair shop\'s custody when the damage occurred.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-14\">Art could have protected his shop against claims arising from damage to customers\' vehicles by purchasing <em>garagekeepers coverage.</em> This coverage may be added to a commercial auto (or motor carrier) policy via an endorsement. It is designed for businesses that take custody of customers\' vehicles in order to park, store or perform work on them. Examples are valet parking services, auto repair shops, body shops, and auto glass shops.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-16\">Garagekeepers Liability Coverage</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-18\">Garagekeepers liability insurance covers sums you must legally pay as damages for loss to a customer\'s auto (or its equipment) left in your care while you are attending, servicing, repairing, parking or storing it in your&nbsp;<em>garage operations</em>. This term means the use of locations for the purpose of a business of selling, servicing, repairing, parking or storing customer\'s autos. Three coverage options are available:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul id=\"mntl-sc-block_1-0-21\" class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Comprehensive.&nbsp;</strong>Covers damage to a customer\'s auto from any cause except the auto\'s collision with another object or the auto\'s overturn</li><li><strong>Specified Causes of Loss.</strong>&nbsp;Cheaper than comprehensive coverage. Covers damage caused by fire, lightning, explosion, theft, mischief or vandalism.</li><li><strong>Collision.&nbsp;</strong>Covers damage to a customer\'s auto caused by its collision with another object or the auto\'s overturn</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-24\">The coverages described above are the same options provided under auto physical damage coverage. However, garagekeepers insurance is a third-party (liability) coverage while auto physical damage insurance is a first-party (property) coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-27\">When your auto insurer provides garagekeepers insurance, it has a duty to defend you against suits covered by the policy. The policy includes coverage for Supplementary Payments, which pay costs your insurer incurs to defend you against covered claims. These costs are covered in addition to the policy limit.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-30\"><strong>Exclusions</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-33\">Garagekeepers liability typically excludes claims or loss involving any of the following:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul id=\"mntl-sc-block_1-0-36\" class=\"has-black-color has-text-color has-medium-font-size\"><li>War, warlike action, insurrection, etc.</li><li>Theft by you, your employees or shareholders</li><li>Liability assumed under a contract</li><li>Defective parts or materials</li><li>Faulty work</li><li>Tape decks, CD players, and similar equipment not permanently installed in the vehicle</li><li>Radar detectors</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-39\"><strong>Limits and Deductibles</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-42\">The most your insurer will pay for each loss at each location is the garagekeepers limit of insurance minus the applicable deductible. Comprehensive or Specified Causes of Loss coverage may include two deductibles: one that applies to each vehicle and an \"each event\" deductible, which is the most that will be deducted for all loss in one event. The collision deductible applies to each vehicle.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-45\"><strong>Direct Coverage or Legal Liability</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-48\">Garagekeepers coverage normally applies on a&nbsp;<em>legal liability</em>&nbsp;basis. That is, it covers loss to customers\' vehicles only if you are legally liable for the damage. In the A-1 Auto Service scenario described above, the business is clearly liable for the damage to the customers\' autos because the damage was caused by A-1 employees\' negligence.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-51\">Customers\' vehicles could be damaged by perils that occur regardless of fault. An example is a tornado. Your business would not be legally liable for vehicle damage caused by a tornado, which is considered an Act of God. Nevertheless, you might choose to pay for the damage as a gesture of goodwill. The damage would be covered by your garagekeepers insurance if you have purchased&nbsp;<em>direct garagekeepers coverage.&nbsp;</em>Direct insurance covers damage to customers\' vehicles whether or not you are legally liable for the loss.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-54\"><strong>Direct Excess or Primary</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-57\">Direct coverage may apply on a primary or excess basis.&nbsp;<em>Direct primary</em>&nbsp;coverage provides first-line coverage for damage to customers\' autos in your custody regardless of your liability. When your garagekeepers insurance provides direct coverage, the customer need not file a claim under his or her own auto policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-60\">Direct primary coverage can be expensive. A cheaper alternative is<em> excess direct </em>coverage. It affords secondary coverage for losses for which you are not legally liable. Coverage is excess over any collectible other insurance. For instance, suppose a customer\'s vehicle is insured for comprehensive coverage under his personal auto policy. If the vehicle is destroyed by a tornado while in your custody, the customer\'s comprehensive coverage will apply first. If the customer has no comprehensive coverage, your direct excess coverage will pay the loss.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.thebalancesmb.com/garagekeepers-liability-462435\">click here.</a></p>\n<!-- /wp:paragraph -->','Learn About Garagekeepers Liability Insurance','','publish','open','open','','learn-about-garagekeepers-liability-insurance','','','2022-03-07 20:24:34','2022-03-07 20:24:34','',0,'http://smartinsurance.tips/?p=2200',0,'post','',0),(2201,1,'2022-03-07 20:20:01','2022-03-07 20:20:01','','Garage-keepers','','inherit','open','closed','','garage-keepers','','','2022-03-07 20:20:01','2022-03-07 20:20:01','',2200,'http://smartinsurance.tips/wp-content/uploads/2022/03/Garage-keepers.png',0,'attachment','image/png',0),(131,1,'2019-12-23 20:07:28','2019-12-23 20:07:28','<!-- wp:divi/placeholder -->\n[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 class=\"headline\" itemprop=\"headline\" style=\"text-align: center;\"><strong>5 Trends That Will Reshape Customer Service Over the Next 5 Years</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\">\n<p style=\"text-align: left;\">Customer service isn’t static. Phones replaced house calls. Email edged out phones. To keep existing customers and attract new ones, you need cutting-edge customer service. Consumers are four times as likely to buy from a competitor after a service issue than they are after a product one, according to<span> </span><a href=\"https://www.bain.com/insights/topics/loyalty\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">research by Bain &amp; Company</a>. Still, customer-service overhauls aren’t cheap. Invest wisely by considering these five predicted trends that will shape customer service over the next five years.</p>\n<p style=\"text-align: left;\">\n<h2 style=\"text-align: left;\"><b>1. Social media will become default channels.</b></h2>\n<p style=\"text-align: left;\"><b></b></p>\n<p style=\"text-align: left;\">Just<span> </span><a href=\"http://info.microsoft.com/rs/157-GQE-382/images/EN-CNTNT-Report-DynService-2017-global-state-customer-service-en-au.pdf\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">13 percent</a> of consumers over the age of 55 have used social media for customer-service purposes, a Microsoft study showed; on the other hand, 55 percent of those aged 18-34 have. As millennials and Gen Zers make up a larger and larger share of your market, social-media outreach is likely to make up more than half of your customer-service requests. </p>\n<p style=\"text-align: left;\">\n<p style=\"text-align: left;\">Soon, putting a social-media intern in charge of your Twitter account will no longer cut it. Those running your social accounts need to understand your product or service like veteran members of your customer-service staff. Use chatbots to field common questions, freeing up time for your human service people to tackle more complex ones. </p>\n<p style=\"text-align: left;\">\n<h2 style=\"text-align: left;\"><b>2. Automation will get the human touch. </b></h2>\n<p style=\"text-align: left;\"><b></b></p>\n<p style=\"text-align: left;\">Automation and AI are hot topics in every sector, and customer service is no exception, but when customers hear “customer-service automation,” they think of automated menus and spammy robocalls. From the user’s perspective, that sort of automation is worse than none at all.</p>\n<p style=\"text-align: left;\">\n<p style=\"text-align: left;\">Used well, customer-service software can lighten an agent\'s load without erasing the human touch. Contact center software provider Five9 suggests agents use real-time transcription services, which can achieve<span> </span><a href=\"https://www.five9.com/blog/at-five9-were-excited-about-agent-assistance\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">95 percent accuracy</a><span> </span>with custom tuning, so they can focus more on the customer and less on transcription errors. Automation will be a must, but it’s best used to augment human workers. </p>\n<div class=\"banner-ad adbox adbox--called offset offset-left adbox--handled\" data-key=\"a2ad\" assigned-pos=\"5\" id=\"bdp1u0x4ya\" data-google-query-id=\"CKHIq7XIzOYCFUWjvQodQqQFAA\" style=\"text-align: left;\">\n<div id=\"google_ads_iframe_/6280/Entrepreneur-in/article_4__container__\"></div>\n</div>\n<h2 style=\"text-align: left;\"><b>3. Customer reps will give more product demos.</b></h2>\n<p style=\"text-align: left;\"><b></b></p>\n<p style=\"text-align: left;\">As more services become strictly online, your customer-service capabilities need to keep up. Customer-service platform Acquire points out that<span> </span><a href=\"https://acquire.io/blog/co-browsing-best-practice/\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">nearly half</a><span> </span>of users will leave a website if they can’t find what they’re looking for. Customer-service people need to meet them there, regardless of what the product problem is. </p>\n<p style=\"text-align: left;\">\n<p style=\"text-align: left;\">Lean on co-browsing tools, which let customer-service agents share their screens with clients in real time. If a customer still isn’t getting it, video-conferencing solutions can improve communication via nonverbal cues. Repeated videoconferencing or screen sharing around the same issue could indicate a user-interface problem. </p>\n<p style=\"text-align: left;\">\n<h2 style=\"text-align: left;\"><b>4. Customer-service teams will develop disaster plans. </b></h2>\n<p style=\"text-align: left;\"><b></b></p>\n<p style=\"text-align: left;\">Whether due to technological complexity, natural disasters or bad actors, service outages seem to be happening more frequently. Cyberattacks are a particular problem. <a href=\"https://www.securitymagazine.com/articles/90483-cybersecurity-firms-see-increase-in-cyber-attacks\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Three-fifths</a><span> </span>of firms experienced one last year, up by double digits from the year prior. One way or another, your customer-service staffers will eventually face a catastrophe. If they can’t field calls or use the internet for days, you can bet some customers will take their business elsewhere. The Small Business Administration offers<span> </span><a href=\"https://www.sba.gov/business-guide/manage-your-business/prepare-emergencies\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">checklists</a><span> </span>and safety tips specific to each type of disaster. Fill out the ones relevant to you, and share them with your team before a disaster strikes. </p>\n<p style=\"text-align: left;\">\n<h2 style=\"text-align: left;\"><b>5. Customer-service training will be companywide.</b></h2>\n<p style=\"text-align: left;\"><b></b></p>\n<p style=\"text-align: left;\">Employees like engineers and marketers may not interact directly with customers, but they need customer-service skills all the same. The reason is the rising importance of your UX. To deliver a better experience, everyone needs to know common customer pain points and solutions. Encourage people to think beyond their immediate role and subject area. Marketing software firm HubSpot<span> </span><a href=\"https://blog.hubspot.com/service/customer-service-support-training\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">trained</a><span> </span>its content team not just on marketing or writing, but also on how to represent the company online. Ensure everyone knows how to refer to your product and brand. Develop a “top 10” list explaining how to address common customer questions.</p>\n<p style=\"text-align: left;\">\n<p><span>If you’re going to grow and maintain your customer base through the 2020s, you’ll need to innovate. Technology will be key, but it needs to support -- rather than sideline -- your customer-service staff. Before the new decade begins, be sure your team knows the difference.</span></div>\n<div align=\"center\" style=\"text-align: left;\"><span></span></div>\n<div align=\"center\" style=\"text-align: left;\"><span>To read the full article, <a href=\"https://www.entrepreneur.com/article/343367?stat=316722&amp;socialnet=linkedin\">click here</a>.</span></div>\n[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]\n<!-- /wp:divi/placeholder -->','5 Trends That Will Reshape Customer Service Over the Next 5 Years','','inherit','closed','closed','','124-revision-v1','','','2019-12-23 20:07:28','2019-12-23 20:07:28','',124,'http://smartinsurance.tips/124-revision-v1/',0,'revision','',0),(122,1,'2019-12-23 19:59:39','2019-12-23 19:59:39','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 style=\"text-align: center;\"><strong><a href=\"https://www.millerpublicadjusters.com/free-property-insurance-claim-advice-blog/how-your-credit-score-impacts-your-property-insurance-premium\"><span id=\"hs_cos_wrapper_name\" class=\"hs_cos_wrapper hs_cos_wrapper_meta_field hs_cos_wrapper_type_text\" data-hs-cos-general-type=\"meta_field\" data-hs-cos-type=\"text\">How Your Credit Score Impacts Your Property Insurance Premium</span></a></strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text admin_label=\"text block 1\" _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div id=\"wrap\">\n<p><img src=\"http://smartinsurance.tips/wp-content/uploads/2019/12/miller.png\" width=\"768\" height=\"440\" alt=\"\" class=\"wp-image-86 aligncenter size-full\" /></p>\n<p>&nbsp;</p>\n<p>When purchasing or renewing a homeowner’s insurance policy, your credit score plays an important role in your premium costs, and even in the ability to buy an insurance policy. Most insurance carriers use a <a href=\"https://www.naic.org/cipr_topics/topic_credit_based_insurance_score.htm\">credit-based insurance score</a> to calculate your premium payment. Here is what you should know about how insurance companies use your credit score and how you can improve it.</p>\n<p>&nbsp;</p>\n<p><strong>What Is a Credit-Based Insurance Score?</strong></p>\n<p>While credit-based insurance scores share traits with standard credit scores, they are not calculated the same way. Insurance scores consider only some of the factors that go into a regular credit score.</p>\n<p>&nbsp;</p>\n<p>Beginning in the 1990s, insurance companies began using credit scores to predict risk and calculate premium costs. According to the credit-scoring agency, <a href=\"https://ficoscore.com/education/\">FICO</a>, about 85 percent of insurance companies use credit-based scores when determining premium rates. Some reports show that people with bad credit can pay nearly twice as much for home insurance, compared to people with good credit. If your credit is really bad, you could be <a href=\"https://quotewizard.com/home-insurance/unable-to-get-homeowners-insurance\">denied a policy</a>.</p>\n<p>&nbsp;</p>\n<p>Two important factors insurance companies use to figure your credit score are payment history and hard inquiries. Hard inquiries involve lenders, like when you apply for a credit card or a loan. A good way to keep hard inquiries from hurting your credit score is to make all your requests within a 45-day period. Within this period, they treat all inquiries as one.</p>\n<p>&nbsp;</p>\n<p><strong>What Determines Your Credit Score?</strong><br /> Credit scores aren\'t an exact science. Lenders and credit agencies use their own metrics. For example,<a href=\"https://personalreports.lexisnexis.com/\"> LexisNexis Property Insurance Scores uses this ranking</a>:</p>\n<p>&nbsp;</p>\n<p>Good: 776 to 997</p>\n<p>Average: 626 to 775</p>\n<p>Below Average: 501 to 625</p>\n<p>Less Desirable: Under 500</p>\n<p>&nbsp;</p>\n<p>Even though <a href=\"https://www.credit.com/credit-scores/what-is-a-good-credit-score/\">credit scores can vary between agencies</a>, most are similar to the above ranges.</p>\n<p>&nbsp;</p>\n<p><a href=\"https://www.creditkarma.com/advice/i/what-affects-your-credit-scores/\">Other factors that affect your credit score</a> include level of debt, length and usage of your credit accounts, and your credit limits. The three credit bureaus, <a href=\"https://www.experian.com/\">Experian</a>, <a href=\"https://www.equifax.com/personal/\">Equifax</a> and <a href=\"https://www.transunion.com/\">TransUnion</a>, rate these scores in different ways. Where one company ranks payment history as 40 percent of your score, another may only factor it in at 30 percent. Another difference is that things like your work or income history don’t affect your insurance score like they do your credit score.</p>\n<p>&nbsp;</p>\n<p>If you want to know if your insurance company used your credit report, you can contact your agent and ask them. If your credit report had a bad effect on your rate, the <a href=\"https://www.consumer.ftc.gov/articles/pdf-0096-fair-credit-reporting-act.pdf\">Fair Credit Reporting Act Action Notification</a> should alert you.</p>\n<p>&nbsp;</p>\n<p>You should also be aware of your state\'s laws regarding the use of credit reports to calculate rates. In Maryland and Hawaii, for example, insurers are legally prohibited from using your score to raise your homeowner’s premium. Other states may allow that, but they won\'t use your credit report to drop you or deny coverage.</p>\n<p>&nbsp;</p>\n<p><strong>How to Improve Your Credit Score</strong></p>\n<p>There are simple steps you can take to improve your credit score. A great starting point is to get your debt usage under control. As a rule of thumb, keep your usage to 30 percent or less of your total available credit.</p>\n<p>&nbsp;</p>\n<p>You\'ll also want to check and make sure your credit limit is fully reported. It could affect your rates if the credit bureau runs a background check and finds a blank spot for your card\'s credit limit. Agencies only use reports with known credit limits as factors in insurance scores.</p>\n<p>&nbsp;</p>\n<p>Another way to improve your credit score is to have a good grip on your payment history. Pay your bills on time and dispute any errors in your account. Many credit card companies will waive a one-time mistake. Try to make large payments when possible. Not many people can wipe out all of their debt at one time, but even if you can pay your balance down 10 percent each payment, you\'ll see some good changes in your credit score.</p>\n<p>&nbsp;</p>\n<p>You might see a lot of sites offering free credit reports, but most of them are not free. You can check your credit report once a year at no cost at <a href=\"https://www.annualcreditreport.com/index.action\">annualcreditreport.com</a>. Equifax, Experian and Transunion created the site jointly to comply with the <a href=\"https://www.ftc.gov/enforcement/rules/rulemaking-regulatory-reform-proceedings/fair-credit-reporting-act\">Fair Credit Reporting Act</a>. You can get your credit report from all three of the major bureaus for free and without hurting your credit score. This allows you to make sure your report is accurate. Credit report errors are common. Being aware of your credit status can help avoid them.</p>\n<p>&nbsp;</p>\n<p>Another option, if you feel your home insurance rates are too high due to your credit score, is to <a href=\"http://www.quotewizard.com/\">shop around</a>. When insurers look at someone\'s credit-based insurance score, it\'s considered a soft inquiry. Soft inquiries do not hurt your credit score like hard inquiries can, so looking at what different agencies have to offer you is in your favor.</p>\n<p>&nbsp;</p>\n<p>To read the<span> </span><a href=\"https://www.millerpublicadjusters.com/free-property-insurance-claim-advice-blog/how-your-credit-score-impacts-your-property-insurance-premium\">entire article please click here.</a></p>\n</div>\n<p>&nbsp;</p>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][/et_pb_column][/et_pb_row][/et_pb_section]','How Your Credit Score Impacts Your Property Insurance Premium','','inherit','closed','closed','','83-revision-v1','','','2019-12-23 19:59:39','2019-12-23 19:59:39','',83,'http://smartinsurance.tips/83-revision-v1/',0,'revision','',0),(120,1,'2019-12-23 19:58:46','2019-12-23 19:58:46','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 style=\"text-align: center;\"><strong><a href=\"https://www.millerpublicadjusters.com/free-property-insurance-claim-advice-blog/how-your-credit-score-impacts-your-property-insurance-premium\"><span id=\"hs_cos_wrapper_name\" class=\"hs_cos_wrapper hs_cos_wrapper_meta_field hs_cos_wrapper_type_text\" data-hs-cos-general-type=\"meta_field\" data-hs-cos-type=\"text\">How Your Credit Score Impacts Your Property Insurance Premium</span></a></strong></h1>\n[/et_pb_text][et_pb_image _builder_version=\"4.0.9\" hover_enabled=\"0\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text admin_label=\"text block 1\" _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div id=\"wrap\">\n<p><img src=\"http://smartinsurance.tips/wp-content/uploads/2019/12/miller.png\" width=\"768\" height=\"440\" alt=\"\" class=\"wp-image-86 aligncenter size-full\" /></p>\n<p>&nbsp;</p>\n<p>When purchasing or renewing a homeowner’s insurance policy, your credit score plays an important role in your premium costs, and even in the ability to buy an insurance policy. Most insurance carriers use a <a href=\"https://www.naic.org/cipr_topics/topic_credit_based_insurance_score.htm\">credit-based insurance score</a> to calculate your premium payment. Here is what you should know about how insurance companies use your credit score and how you can improve it.</p>\n<p>&nbsp;</p>\n<p><strong>What Is a Credit-Based Insurance Score?</strong></p>\n<p>While credit-based insurance scores share traits with standard credit scores, they are not calculated the same way. Insurance scores consider only some of the factors that go into a regular credit score.</p>\n<p>&nbsp;</p>\n<p>Beginning in the 1990s, insurance companies began using credit scores to predict risk and calculate premium costs. According to the credit-scoring agency, <a href=\"https://ficoscore.com/education/\">FICO</a>, about 85 percent of insurance companies use credit-based scores when determining premium rates. Some reports show that people with bad credit can pay nearly twice as much for home insurance, compared to people with good credit. If your credit is really bad, you could be <a href=\"https://quotewizard.com/home-insurance/unable-to-get-homeowners-insurance\">denied a policy</a>.</p>\n<p>&nbsp;</p>\n<p>Two important factors insurance companies use to figure your credit score are payment history and hard inquiries. Hard inquiries involve lenders, like when you apply for a credit card or a loan. A good way to keep hard inquiries from hurting your credit score is to make all your requests within a 45-day period. Within this period, they treat all inquiries as one.</p>\n<p>&nbsp;</p>\n<p><strong>What Determines Your Credit Score?</strong><br /> Credit scores aren\'t an exact science. Lenders and credit agencies use their own metrics. For example,<a href=\"https://personalreports.lexisnexis.com/\"> LexisNexis Property Insurance Scores uses this ranking</a>:</p>\n<p>&nbsp;</p>\n<p>Good: 776 to 997</p>\n<p>Average: 626 to 775</p>\n<p>Below Average: 501 to 625</p>\n<p>Less Desirable: Under 500</p>\n<p>&nbsp;</p>\n<p>Even though <a href=\"https://www.credit.com/credit-scores/what-is-a-good-credit-score/\">credit scores can vary between agencies</a>, most are similar to the above ranges.</p>\n<p>&nbsp;</p>\n<p><a href=\"https://www.creditkarma.com/advice/i/what-affects-your-credit-scores/\">Other factors that affect your credit score</a> include level of debt, length and usage of your credit accounts, and your credit limits. The three credit bureaus, <a href=\"https://www.experian.com/\">Experian</a>, <a href=\"https://www.equifax.com/personal/\">Equifax</a> and <a href=\"https://www.transunion.com/\">TransUnion</a>, rate these scores in different ways. Where one company ranks payment history as 40 percent of your score, another may only factor it in at 30 percent. Another difference is that things like your work or income history don’t affect your insurance score like they do your credit score.</p>\n<p>&nbsp;</p>\n<p>If you want to know if your insurance company used your credit report, you can contact your agent and ask them. If your credit report had a bad effect on your rate, the <a href=\"https://www.consumer.ftc.gov/articles/pdf-0096-fair-credit-reporting-act.pdf\">Fair Credit Reporting Act Action Notification</a> should alert you.</p>\n<p>&nbsp;</p>\n<p>You should also be aware of your state\'s laws regarding the use of credit reports to calculate rates. In Maryland and Hawaii, for example, insurers are legally prohibited from using your score to raise your homeowner’s premium. Other states may allow that, but they won\'t use your credit report to drop you or deny coverage.</p>\n<p>&nbsp;</p>\n<p><strong>How to Improve Your Credit Score</strong></p>\n<p>There are simple steps you can take to improve your credit score. A great starting point is to get your debt usage under control. As a rule of thumb, keep your usage to 30 percent or less of your total available credit.</p>\n<p>&nbsp;</p>\n<p>You\'ll also want to check and make sure your credit limit is fully reported. It could affect your rates if the credit bureau runs a background check and finds a blank spot for your card\'s credit limit. Agencies only use reports with known credit limits as factors in insurance scores.</p>\n<p>&nbsp;</p>\n<p>Another way to improve your credit score is to have a good grip on your payment history. Pay your bills on time and dispute any errors in your account. Many credit card companies will waive a one-time mistake. Try to make large payments when possible. Not many people can wipe out all of their debt at one time, but even if you can pay your balance down 10 percent each payment, you\'ll see some good changes in your credit score.</p>\n<p>&nbsp;</p>\n<p>You might see a lot of sites offering free credit reports, but most of them are not free. You can check your credit report once a year at no cost at <a href=\"https://www.annualcreditreport.com/index.action\">annualcreditreport.com</a>. Equifax, Experian and Transunion created the site jointly to comply with the <a href=\"https://www.ftc.gov/enforcement/rules/rulemaking-regulatory-reform-proceedings/fair-credit-reporting-act\">Fair Credit Reporting Act</a>. You can get your credit report from all three of the major bureaus for free and without hurting your credit score. This allows you to make sure your report is accurate. Credit report errors are common. Being aware of your credit status can help avoid them.</p>\n<p>&nbsp;</p>\n<p>Another option, if you feel your home insurance rates are too high due to your credit score, is to <a href=\"http://www.quotewizard.com/\">shop around</a>. When insurers look at someone\'s credit-based insurance score, it\'s considered a soft inquiry. Soft inquiries do not hurt your credit score like hard inquiries can, so looking at what different agencies have to offer you is in your favor.</p>\n<p>&nbsp;</p>\n<p>To read the<span> </span><a href=\"https://www.millerpublicadjusters.com/free-property-insurance-claim-advice-blog/how-your-credit-score-impacts-your-property-insurance-premium\">entire article please click here.</a></p>\n</div>\n<p>&nbsp;</p>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][/et_pb_column][/et_pb_row][/et_pb_section]','How Your Credit Score Impacts Your Property Insurance Premium','','inherit','closed','closed','','83-revision-v1','','','2019-12-23 19:58:46','2019-12-23 19:58:46','',83,'http://smartinsurance.tips/83-revision-v1/',0,'revision','',0),(129,1,'2019-12-23 20:06:39','2019-12-23 20:06:39','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 class=\"headline\" itemprop=\"headline\" style=\"text-align: center;\"><strong>5 Trends That Will Reshape Customer Service Over the Next 5 Years</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\">\n<p style=\"text-align: left;\">Customer service isn’t static. Phones replaced house calls. Email edged out phones. To keep existing customers and attract new ones, you need cutting-edge customer service. Consumers are four times as likely to buy from a competitor after a service issue than they are after a product one, according to<span> </span><a href=\"https://www.bain.com/insights/topics/loyalty\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">research by Bain &amp; Company</a>. Still, customer-service overhauls aren’t cheap. Invest wisely by considering these five predicted trends that will shape customer service over the next five years.</p>\n<p style=\"text-align: left;\">\n<h2 style=\"text-align: left;\"><b>1. Social media will become default channels.</b></h2>\n<p style=\"text-align: left;\"><b></b></p>\n<p style=\"text-align: left;\">Just<span> </span><a href=\"http://info.microsoft.com/rs/157-GQE-382/images/EN-CNTNT-Report-DynService-2017-global-state-customer-service-en-au.pdf\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">13 percent</a> of consumers over the age of 55 have used social media for customer-service purposes, a Microsoft study showed; on the other hand, 55 percent of those aged 18-34 have. As millennials and Gen Zers make up a larger and larger share of your market, social-media outreach is likely to make up more than half of your customer-service requests. </p>\n<p style=\"text-align: left;\">\n<p style=\"text-align: left;\">Soon, putting a social-media intern in charge of your Twitter account will no longer cut it. Those running your social accounts need to understand your product or service like veteran members of your customer-service staff. Use chatbots to field common questions, freeing up time for your human service people to tackle more complex ones. </p>\n<p style=\"text-align: left;\">\n<h2 style=\"text-align: left;\"><b>2. Automation will get the human touch. </b></h2>\n<p style=\"text-align: left;\"><b></b></p>\n<p style=\"text-align: left;\">Automation and AI are hot topics in every sector, and customer service is no exception, but when customers hear “customer-service automation,” they think of automated menus and spammy robocalls. From the user’s perspective, that sort of automation is worse than none at all.</p>\n<p style=\"text-align: left;\">\n<p style=\"text-align: left;\">Used well, customer-service software can lighten an agent\'s load without erasing the human touch. Contact center software provider Five9 suggests agents use real-time transcription services, which can achieve<span> </span><a href=\"https://www.five9.com/blog/at-five9-were-excited-about-agent-assistance\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">95 percent accuracy</a><span> </span>with custom tuning, so they can focus more on the customer and less on transcription errors. Automation will be a must, but it’s best used to augment human workers. </p>\n<div class=\"banner-ad adbox adbox--called offset offset-left adbox--handled\" data-key=\"a2ad\" assigned-pos=\"5\" id=\"bdp1u0x4ya\" data-google-query-id=\"CKHIq7XIzOYCFUWjvQodQqQFAA\" style=\"text-align: left;\">\n<div id=\"google_ads_iframe_/6280/Entrepreneur-in/article_4__container__\"></div>\n</div>\n<h2 style=\"text-align: left;\"><b>3. Customer reps will give more product demos.</b></h2>\n<p style=\"text-align: left;\"><b></b></p>\n<p style=\"text-align: left;\">As more services become strictly online, your customer-service capabilities need to keep up. Customer-service platform Acquire points out that<span> </span><a href=\"https://acquire.io/blog/co-browsing-best-practice/\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">nearly half</a><span> </span>of users will leave a website if they can’t find what they’re looking for. Customer-service people need to meet them there, regardless of what the product problem is. </p>\n<p style=\"text-align: left;\">\n<p style=\"text-align: left;\">Lean on co-browsing tools, which let customer-service agents share their screens with clients in real time. If a customer still isn’t getting it, video-conferencing solutions can improve communication via nonverbal cues. Repeated videoconferencing or screen sharing around the same issue could indicate a user-interface problem. </p>\n<p style=\"text-align: left;\">\n<h2 style=\"text-align: left;\"><b>4. Customer-service teams will develop disaster plans. </b></h2>\n<p style=\"text-align: left;\"><b></b></p>\n<p style=\"text-align: left;\">Whether due to technological complexity, natural disasters or bad actors, service outages seem to be happening more frequently. Cyberattacks are a particular problem. <a href=\"https://www.securitymagazine.com/articles/90483-cybersecurity-firms-see-increase-in-cyber-attacks\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Three-fifths</a><span> </span>of firms experienced one last year, up by double digits from the year prior. One way or another, your customer-service staffers will eventually face a catastrophe. If they can’t field calls or use the internet for days, you can bet some customers will take their business elsewhere. The Small Business Administration offers<span> </span><a href=\"https://www.sba.gov/business-guide/manage-your-business/prepare-emergencies\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">checklists</a><span> </span>and safety tips specific to each type of disaster. Fill out the ones relevant to you, and share them with your team before a disaster strikes. </p>\n<p style=\"text-align: left;\">\n<h2 style=\"text-align: left;\"><b>5. Customer-service training will be companywide.</b></h2>\n<p style=\"text-align: left;\"><b></b></p>\n<p style=\"text-align: left;\">Employees like engineers and marketers may not interact directly with customers, but they need customer-service skills all the same. The reason is the rising importance of your UX. To deliver a better experience, everyone needs to know common customer pain points and solutions. Encourage people to think beyond their immediate role and subject area. Marketing software firm HubSpot<span> </span><a href=\"https://blog.hubspot.com/service/customer-service-support-training\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">trained</a><span> </span>its content team not just on marketing or writing, but also on how to represent the company online. Ensure everyone knows how to refer to your product and brand. Develop a “top 10” list explaining how to address common customer questions.</p>\n<p style=\"text-align: left;\">\n<p><span>If you’re going to grow and maintain your customer base through the 2020s, you’ll need to innovate. Technology will be key, but it needs to support -- rather than sideline -- your customer-service staff. Before the new decade begins, be sure your team knows the difference.</span></div>\n<div align=\"center\" style=\"text-align: left;\"><span></span></div>\n<div align=\"center\" style=\"text-align: left;\"><span>To read the full article, <a href=\"https://www.entrepreneur.com/article/343367?stat=316722&amp;socialnet=linkedin\">click here</a>.</span></div>\n[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','','','inherit','closed','closed','','124-revision-v1','','','2019-12-23 20:06:39','2019-12-23 20:06:39','',124,'http://smartinsurance.tips/124-revision-v1/',0,'revision','',0),(127,1,'2019-12-23 20:06:17','2019-12-23 20:06:17','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 style=\"text-align: center;\"><strong><a href=\"https://www.millerpublicadjusters.com/free-property-insurance-claim-advice-blog/understanding-the-importance-of-homeowners-insurance\"><span id=\"hs_cos_wrapper_name\" class=\"hs_cos_wrapper hs_cos_wrapper_meta_field hs_cos_wrapper_type_text\" data-hs-cos-general-type=\"meta_field\" data-hs-cos-type=\"text\">Understanding the Importance of Homeowners Insurance</span></a></strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\">\n<p style=\"text-align: left;\">Customer service isn’t static. Phones replaced house calls. Email edged out phones. To keep existing customers and attract new ones, you need cutting-edge customer service. Consumers are four times as likely to buy from a competitor after a service issue than they are after a product one, according to<span> </span><a href=\"https://www.bain.com/insights/topics/loyalty\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">research by Bain &amp; Company</a>. Still, customer-service overhauls aren’t cheap. Invest wisely by considering these five predicted trends that will shape customer service over the next five years.</p>\n<p style=\"text-align: left;\">\n<h2 style=\"text-align: left;\"><b>1. Social media will become default channels.</b></h2>\n<p style=\"text-align: left;\"><b></b></p>\n<p style=\"text-align: left;\">Just<span> </span><a href=\"http://info.microsoft.com/rs/157-GQE-382/images/EN-CNTNT-Report-DynService-2017-global-state-customer-service-en-au.pdf\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">13 percent</a> of consumers over the age of 55 have used social media for customer-service purposes, a Microsoft study showed; on the other hand, 55 percent of those aged 18-34 have. As millennials and Gen Zers make up a larger and larger share of your market, social-media outreach is likely to make up more than half of your customer-service requests. </p>\n<p style=\"text-align: left;\">\n<p style=\"text-align: left;\">Soon, putting a social-media intern in charge of your Twitter account will no longer cut it. Those running your social accounts need to understand your product or service like veteran members of your customer-service staff. Use chatbots to field common questions, freeing up time for your human service people to tackle more complex ones. </p>\n<p style=\"text-align: left;\">\n<h2 style=\"text-align: left;\"><b>2. Automation will get the human touch. </b></h2>\n<p style=\"text-align: left;\"><b></b></p>\n<p style=\"text-align: left;\">Automation and AI are hot topics in every sector, and customer service is no exception, but when customers hear “customer-service automation,” they think of automated menus and spammy robocalls. From the user’s perspective, that sort of automation is worse than none at all.</p>\n<p style=\"text-align: left;\">\n<p style=\"text-align: left;\">Used well, customer-service software can lighten an agent\'s load without erasing the human touch. Contact center software provider Five9 suggests agents use real-time transcription services, which can achieve<span> </span><a href=\"https://www.five9.com/blog/at-five9-were-excited-about-agent-assistance\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">95 percent accuracy</a><span> </span>with custom tuning, so they can focus more on the customer and less on transcription errors. Automation will be a must, but it’s best used to augment human workers. </p>\n<div class=\"banner-ad adbox adbox--called offset offset-left adbox--handled\" data-key=\"a2ad\" assigned-pos=\"5\" id=\"bdp1u0x4ya\" data-google-query-id=\"CKHIq7XIzOYCFUWjvQodQqQFAA\" style=\"text-align: left;\">\n<div id=\"google_ads_iframe_/6280/Entrepreneur-in/article_4__container__\"></div>\n</div>\n<h2 style=\"text-align: left;\"><b>3. Customer reps will give more product demos.</b></h2>\n<p style=\"text-align: left;\"><b></b></p>\n<p style=\"text-align: left;\">As more services become strictly online, your customer-service capabilities need to keep up. Customer-service platform Acquire points out that<span> </span><a href=\"https://acquire.io/blog/co-browsing-best-practice/\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">nearly half</a><span> </span>of users will leave a website if they can’t find what they’re looking for. Customer-service people need to meet them there, regardless of what the product problem is. </p>\n<p style=\"text-align: left;\">\n<p style=\"text-align: left;\">Lean on co-browsing tools, which let customer-service agents share their screens with clients in real time. If a customer still isn’t getting it, video-conferencing solutions can improve communication via nonverbal cues. Repeated videoconferencing or screen sharing around the same issue could indicate a user-interface problem. </p>\n<p style=\"text-align: left;\">\n<h2 style=\"text-align: left;\"><b>4. Customer-service teams will develop disaster plans. </b></h2>\n<p style=\"text-align: left;\"><b></b></p>\n<p style=\"text-align: left;\">Whether due to technological complexity, natural disasters or bad actors, service outages seem to be happening more frequently. Cyberattacks are a particular problem. <a href=\"https://www.securitymagazine.com/articles/90483-cybersecurity-firms-see-increase-in-cyber-attacks\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Three-fifths</a><span> </span>of firms experienced one last year, up by double digits from the year prior. One way or another, your customer-service staffers will eventually face a catastrophe. If they can’t field calls or use the internet for days, you can bet some customers will take their business elsewhere. The Small Business Administration offers<span> </span><a href=\"https://www.sba.gov/business-guide/manage-your-business/prepare-emergencies\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">checklists</a><span> </span>and safety tips specific to each type of disaster. Fill out the ones relevant to you, and share them with your team before a disaster strikes. </p>\n<p style=\"text-align: left;\">\n<h2 style=\"text-align: left;\"><b>5. Customer-service training will be companywide.</b></h2>\n<p style=\"text-align: left;\"><b></b></p>\n<p style=\"text-align: left;\">Employees like engineers and marketers may not interact directly with customers, but they need customer-service skills all the same. The reason is the rising importance of your UX. To deliver a better experience, everyone needs to know common customer pain points and solutions. Encourage people to think beyond their immediate role and subject area. Marketing software firm HubSpot<span> </span><a href=\"https://blog.hubspot.com/service/customer-service-support-training\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">trained</a><span> </span>its content team not just on marketing or writing, but also on how to represent the company online. Ensure everyone knows how to refer to your product and brand. Develop a “top 10” list explaining how to address common customer questions.</p>\n<p style=\"text-align: left;\">\n<p><span>If you’re going to grow and maintain your customer base through the 2020s, you’ll need to innovate. Technology will be key, but it needs to support -- rather than sideline -- your customer-service staff. Before the new decade begins, be sure your team knows the difference.</span></div>\n<div align=\"center\" style=\"text-align: left;\"><span></span></div>\n<div align=\"center\" style=\"text-align: left;\"><span>To read the full article, <a href=\"https://www.entrepreneur.com/article/343367?stat=316722&amp;socialnet=linkedin\">click here</a>.</span></div>\n[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','','','inherit','closed','closed','','124-revision-v1','','','2019-12-23 20:06:17','2019-12-23 20:06:17','',124,'http://smartinsurance.tips/124-revision-v1/',0,'revision','',0),(136,1,'2019-12-23 21:42:02','2019-12-23 21:42:02','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\"]<h1 class=\"headline\" itemprop=\"headline\" style=\"text-align: center;\"><strong>5 Trends That Will Reshape Customer Service Over the Next 5 Years</strong></h1>[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div align=\"center\">\n<p style=\"text-align: center;\"><img src=\"https://assets.entrepreneur.com/content/3x2/2000/20191203214648-GettyImages-1055622600.jpeg?width=700&amp;crop=2:1\" alt=\"5 Trends That Will Reshape Customer Service Over the Next 5 Years\" /></p>\n<p style=\"text-align: center;\">\n<p style=\"text-align: left;\">Customer service isn’t static. Phones replaced house calls. Email edged out phones. To keep existing customers and attract new ones, you need cutting-edge customer service. Consumers are four times as likely to buy from a competitor after a service issue than they are after a product one, according to<span> </span><a href=\"https://www.bain.com/insights/topics/loyalty\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">research by Bain &amp; Company</a>. Still, customer-service overhauls aren’t cheap. Invest wisely by considering these five predicted trends that will shape customer service over the next five years.</p>\n<h2 style=\"text-align: left;\"><b>1. Social media will become default channels.</b></h2>\n<p style=\"text-align: left;\"><b></b></p>\n<p style=\"text-align: left;\">Just<span> </span><a href=\"http://info.microsoft.com/rs/157-GQE-382/images/EN-CNTNT-Report-DynService-2017-global-state-customer-service-en-au.pdf\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">13 percent</a> of consumers over the age of 55 have used social media for customer-service purposes, a Microsoft study showed; on the other hand, 55 percent of those aged 18-34 have. As millennials and Gen Zers make up a larger and larger share of your market, social-media outreach is likely to make up more than half of your customer-service requests.</p>\n<p style=\"text-align: left;\">Soon, putting a social-media intern in charge of your Twitter account will no longer cut it. Those running your social accounts need to understand your product or service like veteran members of your customer-service staff. Use chatbots to field common questions, freeing up time for your human service people to tackle more complex ones.</p>\n<h2 style=\"text-align: left;\"><b>2. Automation will get the human touch. </b></h2>\n<p style=\"text-align: left;\"><b></b></p>\n<p style=\"text-align: left;\">Automation and AI are hot topics in every sector, and customer service is no exception, but when customers hear “customer-service automation,” they think of automated menus and spammy robocalls. From the user’s perspective, that sort of automation is worse than none at all.</p>\n<p style=\"text-align: left;\">Used well, customer-service software can lighten an agent\'s load without erasing the human touch. Contact center software provider Five9 suggests agents use real-time transcription services, which can achieve<span> </span><a href=\"https://www.five9.com/blog/at-five9-were-excited-about-agent-assistance\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">95 percent accuracy</a><span> </span>with custom tuning, so they can focus more on the customer and less on transcription errors. Automation will be a must, but it’s best used to augment human workers.</p>\n<div class=\"banner-ad adbox adbox--called offset offset-left adbox--handled\" data-key=\"a2ad\" assigned-pos=\"5\" id=\"bdp1u0x4ya\" data-google-query-id=\"CKHIq7XIzOYCFUWjvQodQqQFAA\" style=\"text-align: left;\">\n<div id=\"google_ads_iframe_/6280/Entrepreneur-in/article_4__container__\"></div>\n</div>\n<h2 style=\"text-align: left;\"><b>3. Customer reps will give more product demos.</b></h2>\n<p style=\"text-align: left;\"><b></b></p>\n<p style=\"text-align: left;\">As more services become strictly online, your customer-service capabilities need to keep up. Customer-service platform Acquire points out that<span> </span><a href=\"https://acquire.io/blog/co-browsing-best-practice/\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">nearly half</a><span> </span>of users will leave a website if they can’t find what they’re looking for. Customer-service people need to meet them there, regardless of what the product problem is.</p>\n<p style=\"text-align: left;\">Lean on co-browsing tools, which let customer-service agents share their screens with clients in real time. If a customer still isn’t getting it, video-conferencing solutions can improve communication via nonverbal cues. Repeated videoconferencing or screen sharing around the same issue could indicate a user-interface problem.</p>\n<h2 style=\"text-align: left;\"><b>4. Customer-service teams will develop disaster plans. </b></h2>\n<p style=\"text-align: left;\"><b></b></p>\n<p style=\"text-align: left;\">Whether due to technological complexity, natural disasters or bad actors, service outages seem to be happening more frequently. Cyberattacks are a particular problem. <a href=\"https://www.securitymagazine.com/articles/90483-cybersecurity-firms-see-increase-in-cyber-attacks\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Three-fifths</a><span> </span>of firms experienced one last year, up by double digits from the year prior. One way or another, your customer-service staffers will eventually face a catastrophe. If they can’t field calls or use the internet for days, you can bet some customers will take their business elsewhere. The Small Business Administration offers<span> </span><a href=\"https://www.sba.gov/business-guide/manage-your-business/prepare-emergencies\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">checklists</a><span> </span>and safety tips specific to each type of disaster. Fill out the ones relevant to you, and share them with your team before a disaster strikes.</p>\n<h2 style=\"text-align: left;\"><b>5. Customer-service training will be companywide.</b></h2>\n<p style=\"text-align: left;\"><b></b></p>\n<p style=\"text-align: left;\">Employees like engineers and marketers may not interact directly with customers, but they need customer-service skills all the same. The reason is the rising importance of your UX. To deliver a better experience, everyone needs to know common customer pain points and solutions. Encourage people to think beyond their immediate role and subject area. Marketing software firm HubSpot<span> </span><a href=\"https://blog.hubspot.com/service/customer-service-support-training\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">trained</a><span> </span>its content team not just on marketing or writing, but also on how to represent the company online. Ensure everyone knows how to refer to your product and brand. Develop a “top 10” list explaining how to address common customer questions.</p>\n<p style=\"text-align: left;\">\n<p style=\"text-align: left;\"><span>If you’re going to grow and maintain your customer base through the 2020s, you’ll need to innovate. Technology will be key, but it needs to support -- rather than sideline -- your customer-service staff. Before the new decade begins, be sure your team knows the difference.</span></p>\n</div>\n<div align=\"center\" style=\"text-align: left;\"><span></span></div>\n<div align=\"center\" style=\"text-align: left;\"><span>To read the full article, <a href=\"https://www.entrepreneur.com/article/343367?stat=316722&amp;socialnet=linkedin\">click here</a>.</span></div>\n[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','5 Trends That Will Reshape Customer Service Over the Next 5 Years','','inherit','closed','closed','','124-revision-v1','','','2019-12-23 21:42:02','2019-12-23 21:42:02','',124,'http://smartinsurance.tips/124-revision-v1/',0,'revision','',0),(2206,1,'2022-03-07 20:30:15','2022-03-07 20:30:15','<!-- wp:image {\"id\":2205,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/03/Restaurant-1024x536.png\" alt=\"\" class=\"wp-image-2205\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:paragraph {\"fontSize\":\"medium\"} -->\n<p class=\"has-medium-font-size\">If you operate a restaurant, it\'s important to ensure that your business is properly protected by insurance. Most restaurants obtain commercial property and liability coverages by purchasing a business owners policy (BOP) or a standard package policy.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-3\">General Liability</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-5\">A restaurant needs general liability insurance to cover bodily injury or property damage claims that result from accidents, like slips and falls. The policy also covers product liability, which protects your restaurant from claims arising from food-borne illnesses.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-8\">Food that customers consume on your premises may not qualify as a \'product\' under your policy unless an endorsement called Product/Completed Operations Hazard Redefined is attached. This endorsement ensures that claims arising out of the food you sell will be covered under products/completed operations coverage, whether it is eaten on or off your premises.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-11\">Buildings that house restaurants are prone to damage by fire. Moreover, many restaurant owners lease the building in which they operate. If you accidentally start a fire that damages a building you rent, your landlord might sue you for property damage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-14\">Fortunately, a liability policy automatically includes a coverage called Damage To Premises Rented To You. This coverage is usually subject to a sublimit, such as $100,000. Make sure your limit is adequate. Some insurers will provide $300,000 or more. Some will cover include this coverage without a sublimit.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-17\">Perhaps your restaurant provides valet parking. If you accidentally damage a customer\'s vehicle while parking it, will the damage be covered by your liability policy? The answer is no due to the care, custody or control exclusion. Fortunately, you can insure your business against such damage by purchasing garage keepers liability coverage.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-20\">If your business provides health insurance, dental coverage or other benefits to workers, you should consider buying employee benefits liability insurance. This coverage will protect you against lawsuits arising from clerical errors or administrative mistakes you make while handling employee benefits.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-22\">Other Liability Coverages</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-24\">Here are some different liability coverages a restaurant may need.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul id=\"mntl-sc-block_1-0-27\" class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Liquor Liability:</strong> General liability policies exclude claims for bodily injury or property damage for which you may be held liable if you caused or contributed to someone\'s intoxication through the sale or service of liquor. If your restaurant sells or serves alcoholic beverages, you\'ll need to purchase liquor liability insurance.</li><li><strong>Employment Practices Liability:</strong> Employees may sue restaurants for discrimination, harassment, and other workplace torts. Such torts aren\'t covered by general liability insurance. To protect your business, you\'ll need to purchase employment practices liability coverage.</li><li><strong>Umbrella:</strong> A commercial umbrella affords extra limits over those provided by your general liability and commercial auto policies. It also covers some claims that aren\'t covered by those policies.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-29\">Commercial Property Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-31\">Here are some property coverages a restaurant owner should consider:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul id=\"mntl-sc-block_1-0-34\" class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Sewer Backup:</strong> If sewer water backs up into your restaurant, you\'ll have a huge mess on your hands. To make matters worse, sewer backup is an excluded peril under a typical property policy. To protect yourself, be sure you buy sewer backup coverage.</li><li><strong>Business Income:</strong> If a fire or another peril damages property at your restaurant and your business is forced to shut down, you could suffer a significant income loss. You can avoid such events by purchasing business income coverage.</li><li><strong>Utility Interruption:</strong> Most restaurants require electricity, gas, water, and communications services to operate. An interruption of any of these can cause damage to your property. It may also force you to shut down your restaurant. You can protect your business by purchasing utility interruption coverage.</li><li><strong>Extra Expense:</strong> If a fire or another peril damage property at your restaurant, you may be able to continue operating while repairs are performed by renting other equipment or moving to a temporary location. To ensure those additional costs will be covered, you\'ll need to purchase extra expense coverage.</li><li><strong>Spoilage:</strong> Food stored in refrigerators or freezers may spoil if cooling equipment breaks down or shuts off due to a power outage. You can insure your restaurant against costly spoilage losses by purchasing spoilage coverage.</li><li><strong>Equipment Breakdown:</strong> Many restaurants depend on machinery like steamers, boilers, ovens, refrigerators, freezers, ice makers, and food warmers. This equipment can be damaged by a steam explosion or by an electrical or mechanical breakdown. To cover such damage, you need equipment breakdown insurance. The latter can be extended to include loss of income, extra expense, and spoilage coverages.</li><li><strong>Electronic Data Processing:</strong> Most restaurants use computers to create, store, send, and receive electronic documents. Some use electronic table ordering systems. Most property policies afford minimal coverage for electronic data and equipment so you should consider buying electronic data processing coverage.</li><li><strong>Fine Arts:</strong> Is your restaurant decorated with paintings, statuary or other artwork? If so, protect your investment by buying fine arts coverage.</li><li><strong>Employee Theft:</strong> Restaurant employees may steal food, cash, and other property from their employers. Theft by employees is an excluded peril under a typical property policy. To protect your business, you\'ll need to buy employee theft coverage.</li><li><strong>Peak Season:</strong> You should consider buying this coverage if your restaurant generates a high volume of business at certain times of the year, such as the summer months or the Christmas season. It provides a higher limit for personal property coverage during a specified period. Many BOPs automatically include this coverage, offering a 25 percent seasonal increase.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_1-0-36\">Commercial Auto Insurance</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_1-0-38\">Many restaurants own vehicles they use for picking up supplies, delivering food or other business purposes. Business-owned vehicles should be insured under a business auto policy. The policy should cover non-owned autos and hired autos as well as vehicles the restaurant owns.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.thebalancesmb.com/what-coverages-does-your-restaurant-need-4171752\">click here.</a></p>\n<!-- /wp:paragraph -->','What Insurance Coverages Does Your Restaurant Need?','','inherit','closed','closed','','2204-revision-v1','','','2022-03-07 20:30:15','2022-03-07 20:30:15','',2204,'http://smartinsurance.tips/?p=2206',0,'revision','',0),(2189,1,'2022-03-07 19:49:27','2022-03-07 19:49:27','','Small-business','','inherit','open','closed','','small-business','','','2022-03-07 19:49:27','2022-03-07 19:49:27','',2188,'http://smartinsurance.tips/wp-content/uploads/2022/03/Small-business.png',0,'attachment','image/png',0),(2190,1,'2022-03-07 19:56:02','2022-03-07 19:56:02','<!-- wp:image {\"id\":2189,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/03/Small-business-1024x536.png\" alt=\"\" class=\"wp-image-2189\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Started a new business? Find out why your business needs to start budget planning.</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Preparing for the future, especially from a financial standpoint, is critical for all businesses. That\'s why all businesses need to forecast their revenue and expenses to ensure they remain profitable. The best way for many small business owners to do this is through budget planning.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">With a monthly snapshot of your expected business expenses, you can manage your money and track your spending habits. This allows you to forecast for things like take-home pay, wages, bills, and payments for loans or other debts. It can even help you set up an emergency fund.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">By creating a workable budget, you can track cash on hand, expenses, and the revenue you need to keep your business growing, according to Nick Kolbenschlag, managing partner and co-founder of Crown Wealth Group. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">\"When you take the time to put the numbers to paper, you increase your chances of tracking them to ensure your business succeeds, helping you anticipate future needs, spending habits, profits and cash flow,\" Kolbenschlag told business.com. \"Proper budgeting also allows you to identify problems before they become major issues, giving you the ability to course-correct in real time.\"&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Your budget process should include updating your expenses monthly, which allows you to verify that your business is on target to maintain profitability. Here\'s everything you need to know about budget planning for your business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"what-is-budget-planning\">What is budget planning?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Budget planning is the process of creating a plan to spend your money. It allows you to determine in advance whether you will have enough money to do the things you need or would like to do.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Budgeting helps you save money for the long term or for when your business needs it most. If your accounting software doesn\'t have budgeting features, use a budget calculator – a tool meant to help you establish a budget, create a savings plan, and pay down debt.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">\"Budget planning involves looking at external (economy, regulations and laws, etc.) and internal factors (staff, revenue, expenses, etc.) and then estimating needs, incorporating unexpected things, developing future goals, and looking at historical information and trends,\" said JeFreda Brown, CEO of Xaris Financial Enterprises.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"how-do-you-create-a-budget-for-a-business\">How do you create a budget for a business?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Budgets indicate how much money is spent on aspects of the business like payroll, advertising, supplies and other necessities. To create a budget, small business owners should look at revenue and expenses for the entire calendar and fiscal year. Look at what you spent the previous year and project if you will spend the same, less or more moving forward.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The goal of budget planning is to lay out all necessary components and brainstorm your goals, according to Shahid Hanif, founder of Shufti Pro. Hanif named some steps the budgeting process should include:&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"ordered\":true,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ol class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Examine your revenue.</strong> The first step in any budgeting process is to look backward at your existing business and find all your revenue (income) sources.</li><li><strong>Subtract fixed costs.</strong> The second step in creating a business budget is to add up all your fixed costs, like rent.</li><li><strong>Determine variable costs.</strong> Variable costs include the price of labor or raw materials.</li><li><strong>Set aside a contingency fund for unexpected costs. </strong>These expenses don\'t arise only when it\'s convenient.</li><li><strong>Create a profit and loss statement. </strong>Once you\'ve collected all the above information, it\'s time to put it all together to create your profit and loss statement, or P&amp;L.</li><li><strong>Outline your forward-looking business budget.</strong> Whether you\'re a new business or you\'ve been doing this a while, projecting what will happen to your business in the future is educated guesswork. </li></ol>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">It\'s best to categorize your budget by fixed expenses, variable expenses and non-necessities. Fixed expenses stay constant, regardless of the number of sales, according to Axel DeAngelis, founder of NameBounce.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Tip:</strong> Categorize your budget by fixed expenses and variable expenses, as well as non-necessities.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">\"Generally, fixed costs are contractual,\" DeAngelis said. \"An example of a fixed cost is rent. Unless your business pays percentage rent based on sales, the rent is generally contractual, with fixed increases throughout the life of the lease.\"&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Variable expenses can include some bills or software, as business owners tend to have more control over these expenses, and they fluctuate based on sales. DeAngelis gave sales team commissions as an example: If your business were to sell 10,000 products, you would pay your sales team more in commissions than if you sold 100 products.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Non-necessities are expenses such as travel, entertainment or office perks like a flavored water cooler. This category usually does not include the monthly expenses your business needs.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Editor\'s note: Looking for the right accounting software for your business? Fill out the below questionnaire to have our vendor partners contact you about your needs. </strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"what-information-do-you-need-to-create-a-budget-for-a-business\">What information do you need to create a budget for a business?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Budgeting for your business should include anything and everything you will spend money on during the fiscal year. Failure to use a budget for your business is a missed opportunity to meet your financial goals.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">According to Ken Wentworth, founder and \"on-demand CFO\" of Mr. Biz Solutions, it\'s crucial for business owners to analyze and include four key pieces of information when creating a business budget.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"ordered\":true,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ol class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Revenue: </strong>For revenue, you must first establish your annual goal, then use your historical actuals to determine how to accurately distribute your annual amount across the next 12 months.<br></li><li><strong>Cost of goods sold (COGS):</strong> Once you\'ve established your monthly revenue budget, use those numbers to drive your COGS budget. Again, use your recent historical percentages to determine each COGS line. Determine the average percentage for each line based on monthly revenue projections.<br></li><li><strong>Overhead costs:</strong> Review your most recent year and adjust as needed. For example, you can start with a baseline of last year\'s actuals. From there, adjust reflected activity for the budget year – eliminate nonrecurring expenses from the baseline year, make additions for known one-time expenses in the budget year, make reductions for known savings, and so on.<br></li><li><strong>Margin review:</strong> To ensure your new budget will help you accomplish your goals, review your gross margin percentage and net margin percentage. What are your goals for those two measures? Make sure the new budget you created reflects those goals. For example, if you want to improve your gross margin from 52% to 55%, ensure your budget equates to a 55% gross margin. If not, tweak your COGS numbers to get there. This will set the budget baseline that you will use to measure your business\'s performance. </li></ol>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Bottom line:</strong> When planning a budget, make sure you know your revenue, cost of goods sold, overhead and margins.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"budget-planning-tools\">Budget planning tools</h2>\n<!-- /wp:heading -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Accounting software</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Accounting software is a simple solution for budget planning. The main benefit of using accounting software is that it already has the formulas you\'ll need within its programs. All that\'s left is to add or transfer over the numbers specific to your business. An optimal accounting software program is affordable, accessible and easy to integrate with other platforms your business uses. Here are a few highly rated accounting software solutions to leverage in your budget planning.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Intuit QuickBooks Online:</strong> This is perfect for small businesses because it provides access to a live accountant and integrations with many popular platforms like Salesforce and Bill.com. Learn more in our review of QuickBooks Online.</li><li><strong>FreshBooks: </strong>This accounting software provides invoice capabilities and double-entry accounting capabilities to create a chart of accounts and run new balance sheets. Learn more in our FreshBooks review.</li><li><strong>Oracle NetSuite: </strong>You can use the cash management feature to easily manage your cash flow and monitor your business\'s bank accounts. There\'s also a budgeting and planning feature directly in the program, making forecasting and budgeting a breeze. Learn more in our review of Oracle NetSuite.</li><li><strong>Zoho Books: </strong>This software is specifically designed for microbusinesses that can run weekly, monthly and quarterly reports to track performance income and expenses. Learn more in our Zoho Books review.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Spreadsheets and formulas</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">A spreadsheet is one of the most common and versatile ways to budget for businesses. A spreadsheet can organize and catalog your expenses in charts and graphics. Many computers come with spreadsheet software, and there are also online programs such as Quip that integrate with other software, such as Salesforce. Spreadsheets use various formulas, depending on the report you\'d like to create. You can create these formulas yourself or you can use premade templates, such as those found in Excel. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">For those who haven\'t used a spreadsheet to track expenses before, start with creating a monthly average formula. This gives you a better picture of your spending over the course of the year by creating annual projections. In the final formula, you\'ll see where your spending and expenses will be at the end of the year if you continue with your current budget plan.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Cash flow statements</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">A cash flow statement is an often-neglected budget tool that is vital to long-term success. While an annual budget statement shows the total amount of sales and retained debt, it doesn\'t show the individual transactions. Keeping track of these transactions could be the difference in your business losing money or retaining an overflow of debt. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">A cash flow statement gives you the exact timeframe when a sale will be completed and when you\'ve acquired debt. Keeping track of these details ensures you\'re maintaining an accurate depiction of your credit and have enough cash reserves on hand to pay bills and expenses.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"what-are-the-three-basic-budget-categories\">What are the three basic budget categories?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">A business budget should include all of your business\'s current revenue and expenses. This budget should also include estimated or projected revenue and expenses. Brown listed three basic budget categories.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"ordered\":true,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ol class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Operating budget:</strong> This is the annual budget that the company will follow to meet its financial goals. </li><li><strong>Capital budget:</strong> This is a budget developed when the company plans to invest in fixed assets, like new machinery. </li><li><strong>Cash budget:</strong> This is a budget developed to help company leaders estimate future cash needs and plan for emergencies and future investment opportunities. </li></ol>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Bottom line:</strong> There are three budget categories to track – your operating budget, capital budget and cash budget.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"business-budget-templates\">Business budget templates</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Business budgeting is more complicated than balancing your personal checkbook. There are a lot of aspects to consider. It can be difficult to know where to begin. You may be afraid you\'ll overlook an important component. A business budget template gives you a blueprint you can work with when designing your budget. This can save a lot of time and frustration.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Choosing a business budget template might seem daunting as well. However, there are some key features that will help you narrow your search.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">First, you want a budget template that is easy to use. If you don\'t interact with your budget regularly, it won\'t be effective. Online templates allow you to access your budget anywhere and make edits. If the process is inconvenient, you\'ll be tempted to do the budget once and forget about it.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">According to the Corporate Finance Institute, customization is also important. You want a template that allows you to add items if you need to, and even change formulas if necessary. Every business is different. While budgets across businesses have many similarities, each one has its own nuances as well.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Budget template by business.com:</strong> This Excel template includes a full resource page in addition to annual and monthly business budget templates.</li><li><strong>Excel template by the Corporate Finance Institute:</strong> This operating budget includes revenue, variable and fixed costs, non-cash expenses, non-operating expenses and capital costs.</li><li><strong>Google Docs annual business budget:</strong> Simple and customizable, Google makes it easy to create the budget you need.</li><li><strong>Microsoft Office business expense budget:</strong> This budget is solely for expenses. It allows you to easily compare projected and actual expenses.</li><li><strong>Excel profit and loss statement template:</strong> This template is designed to create profit and loss statements.</li><li><strong>Marketing budget template:</strong> Track your marketing expenses and determine which marketing strategies are worthwhile. </li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"how-is-planning-different-from-budgeting\">How is planning different from budgeting?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Business planning and creating a budget for your business are closely related, but they have different goals. Hanif said that planning is usually the first step in setting up a small business and continues to be used as a workflow progresses.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">\"Planning could be something simple, like building your daily agenda, or long-range enough to envision where you want to see your business in five or 10 years, whereas budgeting determines how existing financial resources are allocated. Budgets are usually set by how previous money was spent and expected income.\"&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Preparing a budget can be a difficult task, but once you do it, you\'ll have a much better understanding of your business and how to plan for the profitability you\'re looking for. If you regularly update your monthly budget, your annual budget will become easier to create and more accurate. When you know where your company stands financially, you can make better decisions to help your business be profitable and successful.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.business.com/articles/budget-planning/\">click here.</a></p>\n<!-- /wp:paragraph -->','How to Start Budget Planning for Your Business?','','inherit','closed','closed','','2188-revision-v1','','','2022-03-07 19:56:02','2022-03-07 19:56:02','',2188,'http://smartinsurance.tips/?p=2190',0,'revision','',0),(138,1,'2019-12-23 21:44:02','2019-12-23 21:44:02','','Untitled_Clipping_122419_052602_AM','','inherit','open','closed','','untitled_clipping_122419_052602_am','','','2019-12-23 21:44:02','2019-12-23 21:44:02','',0,'http://smartinsurance.tips/wp-content/uploads/2019/12/Untitled_Clipping_122419_052602_AM.jpg',0,'attachment','image/jpeg',0),(172,1,'2020-01-27 16:14:43','2020-01-27 16:14:43','<!-- wp:divi/placeholder /-->','The 1 Type of Insurance Every Worker – Especially the Young – May Need','','inherit','closed','closed','','171-revision-v1','','','2020-01-27 16:14:43','2020-01-27 16:14:43','',171,'http://smartinsurance.tips/171-revision-v1/',0,'revision','',0),(149,1,'2019-12-24 00:15:29','2019-12-24 00:15:29','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 id=\"article-heading_2-0\" class=\"comp article-heading mntl-text-block\" style=\"text-align: center;\"><strong>Car Insurance Applications: What If You Lie?</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<p><img src=\"https://external.fceb2-1.fna.fbcdn.net/safe_image.php?d=AQAb2dl-0VlR3MHN&amp;w=540&amp;h=282&amp;url=https%3A%2F%2Fwww.investopedia.com%2Fthmb%2FqyGrF1-KNo3KtyOfnxayC9mlkUs%3D%2F680x440%2Ffilters%3Afill%28auto%2C1%29%2Fshutterstock_240208012_1.car_.insurance.cropped-5bfc3b7c46e0fb0051c1f999.jpg&amp;cfs=1&amp;upscale=1&amp;fallback=news_d_placeholder_publisher&amp;_nc_hash=AQBmnjFYUjBanKP0\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></p>\n<p>&nbsp;</p>\n<p>Slightly more than half of all applicants for<span> </span><a href=\"https://www.investopedia.com/terms/a/auto-insurance.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">auto insurance</a><span> </span>don’t tell the truth, trying to save a few bucks on<span> </span><a href=\"https://www.investopedia.com/terms/p/premium.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">premiums</a>, according to a survey of 3,000 consumers by insurance marketplace CoverHound.com.</p>\n<p>&nbsp;</p>\n<p>Certainly, car insurance is expensive, and in one survey, almost two-thirds of the drivers who submitted false information to insurers said they did so to save money. A Consumer Federation of America report found that most motorists pay $500 annually for coverage, and many pay more than $1,000. (Want some money-saving ideas?</p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-4\" class=\"comp mntl-sc-block finance-sc-block-callout mntl-block\">\n<div id=\"mntl-sc-block_1-0-5\" class=\"comp theme-whatyouneedtoknow mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<h3 id=\"mntl-sc-block-callout-heading_1-0\" class=\"comp mntl-sc-block-callout-heading mntl-text-block\">KEY TAKEAWAYS</h3>\n<div id=\"mntl-sc-block-callout-body_1-0\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<ul>\n<li>Mendacious motorists have many ways to cover up inconvenient truths that could make them pay higher rates.</li>\n<li>Sometimes, it’s a matter of neglecting to confess to having traffic tickets or accidents.</li>\n<li>Other times, applicants fib about where they house the car or who else will drive it.</li>\n</ul>\n<p>&nbsp;</p>\n</div>\n</div>\n</div>\n<h3 id=\"mntl-sc-block_1-0-6\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">Playing the Odds</span></h3>\n<p><span class=\"mntl-sc-block-heading__text\"></span></p>\n<div id=\"mntl-sc-block_1-0-7\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<p>If folks like these file a claim, though, the insurance company likely will find them out. Their investigators will make a big effort to verify whether their application was accurate. They stand to get their policy rescinded and civil fraud penalties are possible.</p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-9\" class=\"comp mntl-sc-block finance-sc-block-callout mntl-block\">\n<div id=\"mntl-sc-block_1-0-10\" class=\"comp theme-important mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<div id=\"mntl-sc-block-callout-body_1-0-1\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p>Men and women lie equally to insurers, while<span> </span><a href=\"https://www.investopedia.com/terms/m/millennial.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">Millennials</a><span> </span>are more likely to prevaricate than their elders, according to a report by Coverhound.com.</p>\n<p>&nbsp;</p>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-11\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<p>Rates are set using a whole host of factors other than one\'s driving record. People often are asked, for instance, to provide their<span> </span><a href=\"https://www.investopedia.com/terms/c/credit-history.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">credit history</a>, the average number of miles they drive and their vehicle’s year, make, and model. For more on the topic, see<span> </span><a href=\"https://www.investopedia.com/insurance/how-to-find-car-insurance/\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\"><em>How Insurers Decide Your Auto Insurance Rate</em></a>.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-12\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\">\n<div id=\"mntl-block_6-0\" class=\"comp mntl-block\">\n<div id=\"native_1-0\" class=\"comp scads-to-load native mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt dynamic scads-ad-placed\"></div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-13\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<p>The goal of providing false information—to make oneself look like a better driver and one\'s car appear to be a better risk—is a tempting, if morally dubious, strategy for pushing<span> </span><a href=\"https://www.investopedia.com/terms/i/insurance-premium.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">insurance premiums</a><span> </span>lower. But it’s one that’s fraught with its own risk: being found out. Omit the drunk driving citation you got? Pretend that your junker is a more roadworthy auto with lower mileage?</p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-15\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<p>On the surface, the odds that someone\'s car will run into trouble seem small. In 2014, there were roughly 6 million crashes in the U.S.<strong><span> </span></strong>And the nation had 212 million licensed drivers. That means a driver has about<strong><span> </span></strong>a 3% chance of getting involved in some kind of accident every year. Also, someone might have their car stolen or vandals may trash it. The question is whether the driver wants to trust in luck, year in, year out.</p>\n<p>&nbsp;</p>\n</div>\n<h3 id=\"mntl-sc-block_1-0-17\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">Typical Lies Motorists Tell</span></h3>\n<p><span class=\"mntl-sc-block-heading__text\"></span></p>\n<div id=\"mntl-sc-block_1-0-18\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<p>Often, policyholders who are telling a whopper contend that they made a mistake or simply forgot to include something crucial in their history. Auto insurers, of course, have heard such stories before; their probability of receiving lenient treatment is slender to nonexistent.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-19\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-20\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<p>Here are some common omissions and untruths that may result in a lost policy, inability to get new coverage, fines, a legal order to pay back premiums—even jail time:</p>\n</div>\n<div id=\"mntl-sc-block_1-0-21\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h3 id=\"mntl-sc-block_1-0-22\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">Common Omissions by Drivers</span></h3>\n<p><span class=\"mntl-sc-block-heading__text\"></span></p>\n<div id=\"mntl-sc-block_1-0-23\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<h4>Accidents or Tickets</h4>\n</div>\n<div id=\"mntl-sc-block_1-0-25\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<p>This is the easiest thing for insurers to look up, regardless of what state you live in. The fender bender you sustained on the West Coast did not vanish from databases when you moved to New Jersey. Although that speeding ticket you got may seem like ancient history, the insurance carrier will not sympathize.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-26\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-27\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<h4>Who the Main Driver Is</h4>\n</div>\n<div id=\"mntl-sc-block_1-0-29\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<p>Typically, this involves a parent claiming to be the one who uses the insured car the most, when in reality it is his college-age son. Young men have high premiums because they get in more accidents and are bigger risks.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-30\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-31\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<h4>How Many Miles You Drive</h4>\n</div>\n<div id=\"mntl-sc-block_1-0-33\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<p>The more time a car spends on the road, the greater the likelihood it will be involved in an accident. Usually, a motorist will claim the daily commute to work is a lot less than it really is. That makes explaining what happened more difficult when the driver smashes up the auto far away from home.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-34\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-35\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<h4>How You Use the Car</h4>\n</div>\n<div id=\"mntl-sc-block_1-0-37\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<p>Let’s say someone uses his car for work—delivering pizzas or hauling around tools to make home repairs. But he tells the insurer that the vehicle is solely for shopping and recreation. When he gets in a wreck on the interstate and the police report notes the dozens of pizza pies splattered all over his car’s interior, it doesn’t look good to the insurance company investigating his claim.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-38\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-39\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<h4>Where You Actually Live</h4>\n</div>\n<div id=\"mntl-sc-block_1-0-40\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\">If your home is in a high-crime area or big city, you could be inclined to list your sister’s address as yours. She lives in a peaceful suburb, which statistics show has a lower chance of a car being stolen or damaged. That lie is very easy to disprove.</div>\n<div id=\"mntl-sc-block_1-0-42\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h3 id=\"mntl-sc-block_1-0-43\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">The Bottom Line</span></h3>\n<div id=\"mntl-sc-block_1-0-44\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<p>Not being honest with an auto insurance company may seem harmless, and the payoff in lower premiums may make the little white lie look worthwhile. But if that person files a claim, he or she very likely will be unmasked, and the consequences are harsh.</p>\n<p>&nbsp;</p>\n<p>To read full article, <a href=\"https://www.investopedia.com/articles/personal-finance/040916/car-insurance-applications-what-if-you-lie.asp\">click here</a>.</p>\n</div>\n[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Car Insurance Applications: What If You Lie?','','publish','closed','closed','','car-insurance-applications-what-if-you-lie','','','2019-12-24 00:19:52','2019-12-24 00:19:52','',0,'http://smartinsurance.tips/?page_id=149',0,'page','',0),(150,1,'2019-12-24 00:15:29','2019-12-24 00:15:29','<!-- wp:divi/placeholder /-->','Car Insurance Applications: What If You Lie?','','inherit','closed','closed','','149-revision-v1','','','2019-12-24 00:15:29','2019-12-24 00:15:29','',149,'http://smartinsurance.tips/149-revision-v1/',0,'revision','',0),(153,1,'2019-12-24 00:19:52','2019-12-24 00:19:52','[et_pb_section fb_built=\"1\" _builder_version=\"4.0.9\"][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<h1 id=\"article-heading_2-0\" class=\"comp article-heading mntl-text-block\" style=\"text-align: center;\"><strong>Car Insurance Applications: What If You Lie?</strong></h1>\n[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.0.9\"][et_pb_column type=\"4_4\" _builder_version=\"4.0.9\"][et_pb_text _builder_version=\"4.0.9\" hover_enabled=\"0\"]<div id=\"mntl-sc-block_1-0\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<p><img src=\"https://external.fceb2-1.fna.fbcdn.net/safe_image.php?d=AQAb2dl-0VlR3MHN&amp;w=540&amp;h=282&amp;url=https%3A%2F%2Fwww.investopedia.com%2Fthmb%2FqyGrF1-KNo3KtyOfnxayC9mlkUs%3D%2F680x440%2Ffilters%3Afill%28auto%2C1%29%2Fshutterstock_240208012_1.car_.insurance.cropped-5bfc3b7c46e0fb0051c1f999.jpg&amp;cfs=1&amp;upscale=1&amp;fallback=news_d_placeholder_publisher&amp;_nc_hash=AQBmnjFYUjBanKP0\" style=\"display: block; margin-left: auto; margin-right: auto;\" /></p>\n<p>&nbsp;</p>\n<p>Slightly more than half of all applicants for<span> </span><a href=\"https://www.investopedia.com/terms/a/auto-insurance.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">auto insurance</a><span> </span>don’t tell the truth, trying to save a few bucks on<span> </span><a href=\"https://www.investopedia.com/terms/p/premium.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\">premiums</a>, according to a survey of 3,000 consumers by insurance marketplace CoverHound.com.</p>\n<p>&nbsp;</p>\n<p>Certainly, car insurance is expensive, and in one survey, almost two-thirds of the drivers who submitted false information to insurers said they did so to save money. A Consumer Federation of America report found that most motorists pay $500 annually for coverage, and many pay more than $1,000. (Want some money-saving ideas?</p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-4\" class=\"comp mntl-sc-block finance-sc-block-callout mntl-block\">\n<div id=\"mntl-sc-block_1-0-5\" class=\"comp theme-whatyouneedtoknow mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<h3 id=\"mntl-sc-block-callout-heading_1-0\" class=\"comp mntl-sc-block-callout-heading mntl-text-block\">KEY TAKEAWAYS</h3>\n<div id=\"mntl-sc-block-callout-body_1-0\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<ul>\n<li>Mendacious motorists have many ways to cover up inconvenient truths that could make them pay higher rates.</li>\n<li>Sometimes, it’s a matter of neglecting to confess to having traffic tickets or accidents.</li>\n<li>Other times, applicants fib about where they house the car or who else will drive it.</li>\n</ul>\n<p>&nbsp;</p>\n</div>\n</div>\n</div>\n<h3 id=\"mntl-sc-block_1-0-6\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">Playing the Odds</span></h3>\n<p><span class=\"mntl-sc-block-heading__text\"></span></p>\n<div id=\"mntl-sc-block_1-0-7\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<p>If folks like these file a claim, though, the insurance company likely will find them out. Their investigators will make a big effort to verify whether their application was accurate. They stand to get their policy rescinded and civil fraud penalties are possible.</p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-9\" class=\"comp mntl-sc-block finance-sc-block-callout mntl-block\">\n<div id=\"mntl-sc-block_1-0-10\" class=\"comp theme-important mntl-sc-block mntl-sc-block-callout mntl-block\" data-tracking-id=\"mntl-sc-block-callout\" data-tracking-container=\"true\">\n<div id=\"mntl-sc-block-callout-body_1-0-1\" class=\"comp mntl-sc-block-callout-body mntl-text-block\">\n<p>Men and women lie equally to insurers, while<span> </span><a href=\"https://www.investopedia.com/terms/m/millennial.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">Millennials</a><span> </span>are more likely to prevaricate than their elders, according to a report by Coverhound.com.</p>\n<p>&nbsp;</p>\n</div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-11\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<p>Rates are set using a whole host of factors other than one\'s driving record. People often are asked, for instance, to provide their<span> </span><a href=\"https://www.investopedia.com/terms/c/credit-history.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">credit history</a>, the average number of miles they drive and their vehicle’s year, make, and model. For more on the topic, see<span> </span><a href=\"https://www.investopedia.com/insurance/how-to-find-car-insurance/\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"2\"><em>How Insurers Decide Your Auto Insurance Rate</em></a>.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-12\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\">\n<div id=\"mntl-block_6-0\" class=\"comp mntl-block\">\n<div id=\"native_1-0\" class=\"comp scads-to-load native mntl-gpt-dynamic-adunit mntl-gpt-adunit gpt dynamic scads-ad-placed\"></div>\n</div>\n</div>\n<div id=\"mntl-sc-block_1-0-13\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<p>The goal of providing false information—to make oneself look like a better driver and one\'s car appear to be a better risk—is a tempting, if morally dubious, strategy for pushing<span> </span><a href=\"https://www.investopedia.com/terms/i/insurance-premium.asp\" data-component=\"link\" data-source=\"inlineLink\" data-type=\"internalLink\" data-ordinal=\"1\">insurance premiums</a><span> </span>lower. But it’s one that’s fraught with its own risk: being found out. Omit the drunk driving citation you got? Pretend that your junker is a more roadworthy auto with lower mileage?</p>\n<p>&nbsp;</p>\n</div>\n<div id=\"mntl-sc-block_1-0-15\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<p>On the surface, the odds that someone\'s car will run into trouble seem small. In 2014, there were roughly 6 million crashes in the U.S.<strong><span> </span></strong>And the nation had 212 million licensed drivers. That means a driver has about<strong><span> </span></strong>a 3% chance of getting involved in some kind of accident every year. Also, someone might have their car stolen or vandals may trash it. The question is whether the driver wants to trust in luck, year in, year out.</p>\n<p>&nbsp;</p>\n</div>\n<h3 id=\"mntl-sc-block_1-0-17\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">Typical Lies Motorists Tell</span></h3>\n<p><span class=\"mntl-sc-block-heading__text\"></span></p>\n<div id=\"mntl-sc-block_1-0-18\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<p>Often, policyholders who are telling a whopper contend that they made a mistake or simply forgot to include something crucial in their history. Auto insurers, of course, have heard such stories before; their probability of receiving lenient treatment is slender to nonexistent.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-19\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-20\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<p>Here are some common omissions and untruths that may result in a lost policy, inability to get new coverage, fines, a legal order to pay back premiums—even jail time:</p>\n</div>\n<div id=\"mntl-sc-block_1-0-21\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h3 id=\"mntl-sc-block_1-0-22\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">Common Omissions by Drivers</span></h3>\n<p><span class=\"mntl-sc-block-heading__text\"></span></p>\n<div id=\"mntl-sc-block_1-0-23\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<h4>Accidents or Tickets</h4>\n</div>\n<div id=\"mntl-sc-block_1-0-25\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<p>This is the easiest thing for insurers to look up, regardless of what state you live in. The fender bender you sustained on the West Coast did not vanish from databases when you moved to New Jersey. Although that speeding ticket you got may seem like ancient history, the insurance carrier will not sympathize.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-26\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-27\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<h4>Who the Main Driver Is</h4>\n</div>\n<div id=\"mntl-sc-block_1-0-29\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<p>Typically, this involves a parent claiming to be the one who uses the insured car the most, when in reality it is his college-age son. Young men have high premiums because they get in more accidents and are bigger risks.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-30\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-31\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<h4>How Many Miles You Drive</h4>\n</div>\n<div id=\"mntl-sc-block_1-0-33\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<p>The more time a car spends on the road, the greater the likelihood it will be involved in an accident. Usually, a motorist will claim the daily commute to work is a lot less than it really is. That makes explaining what happened more difficult when the driver smashes up the auto far away from home.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-34\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-35\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<h4>How You Use the Car</h4>\n</div>\n<div id=\"mntl-sc-block_1-0-37\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<p>Let’s say someone uses his car for work—delivering pizzas or hauling around tools to make home repairs. But he tells the insurer that the vehicle is solely for shopping and recreation. When he gets in a wreck on the interstate and the police report notes the dozens of pizza pies splattered all over his car’s interior, it doesn’t look good to the insurance company investigating his claim.</p>\n</div>\n<div id=\"mntl-sc-block_1-0-38\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<div id=\"mntl-sc-block_1-0-39\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<h4>Where You Actually Live</h4>\n</div>\n<div id=\"mntl-sc-block_1-0-40\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\">If your home is in a high-crime area or big city, you could be inclined to list your sister’s address as yours. She lives in a peaceful suburb, which statistics show has a lower chance of a car being stolen or damaged. That lie is very easy to disprove.</div>\n<div id=\"mntl-sc-block_1-0-42\" class=\"comp mntl-sc-block mntl-sc-block-adslot mntl-block\"></div>\n<h3 id=\"mntl-sc-block_1-0-43\" class=\"comp mntl-sc-block mntl-sc-block-heading\"><span class=\"mntl-sc-block-heading__text\">The Bottom Line</span></h3>\n<div id=\"mntl-sc-block_1-0-44\" class=\"comp mntl-sc-block finance-sc-block-html mntl-sc-block-html\">\n<p>Not being honest with an auto insurance company may seem harmless, and the payoff in lower premiums may make the little white lie look worthwhile. But if that person files a claim, he or she very likely will be unmasked, and the consequences are harsh.</p>\n<p>&nbsp;</p>\n<p>To read full article, <a href=\"https://www.investopedia.com/articles/personal-finance/040916/car-insurance-applications-what-if-you-lie.asp\">click here</a>.</p>\n</div>\n[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]','Car Insurance Applications: What If You Lie?','','inherit','closed','closed','','149-revision-v1','','','2019-12-24 00:19:52','2019-12-24 00:19:52','',149,'http://smartinsurance.tips/149-revision-v1/',0,'revision','',0),(2187,1,'2022-03-07 19:38:18','2022-03-07 19:38:18','<!-- wp:gallery {\"ids\":[2186],\"linkTo\":\"none\"} -->\n<figure class=\"wp-block-gallery columns-1 is-cropped\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/03/My-project-6-1024x536.png\" alt=\"\" data-id=\"2186\" data-full-url=\"http://smartinsurance.tips/wp-content/uploads/2022/03/My-project-6.png\" data-link=\"http://smartinsurance.tips/?attachment_id=2186\" class=\"wp-image-2186\"/></figure></li></ul></figure>\n<!-- /wp:gallery -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0\">Planning ahead is one of the best ways to prepare for a comfortable retirement. From keeping track of your savings to adopting strategies for generating income, a thoughtful approach can help you sustain your lifestyle as you move into the next phase of your life.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-2\">Below, we break down four key factors to consider—and how to develop a retirement plan that works for you.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_2-0-4\">1. Generate Income in Retirement</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-5\">For most retirees, a reliable income is the most important need once regular paychecks stop. As you near retirement, taking a close look at your sources of income is a helpful way to ensure that you have enough to cover your expenses. You should also consider the type of lifestyle you want to live and any potential health issues to help determine how much you should save.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-7\">Below are common sources of income in retirement:</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul id=\"mntl-sc-block_2-0-9\" class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Workplace retirement plans</strong>: Retirement savings plans such as 401(k)s and IRAs are often the largest source of income for many retirees. An advisor can help you determine the most tax efficient strategy for distributing your retirement savings and how to invest so that you benefit from potential growth but don’t incur more risk than you’re comfortable with.&nbsp;&nbsp;</li><li><strong>Social Security</strong>:&nbsp;Backed by the federal government and adjusted for inflation, Social Security provides a consistent source of income throughout retirement. Depending on your circumstances, you may decide to start collecting benefits as soon as you’re eligible or to delay collecting them until you reach the maximum benefit amount. Keep in mind that your monthly benefit amount will be less if you start collecting early so it’s important to consider if your sources of income will cover your essential expenses before you reach full retirement age.</li><li><strong>Pension plans</strong>: Though less common than retirement savings plans, pensions can provide a steady stream of income to help you meet expenses and keep up with lifestyle needs.&nbsp;</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_2-0-11\">2. Address Health Care Costs</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-12\">Another big challenge retirees face are medical expenses. While an increase in medical expenses is common as you age, it can feel overwhelming as it happens. In addition to medical bills, consider your family history to get a sense of life expectancy and potential health issues. Fortunately, there are a few ways to cover those expenses.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul id=\"mntl-sc-block_2-0-14\" class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Health Savings Accounts</strong>: Also known as HSAs, health savings accounts are tax-advantaged accounts that are available only with a qualified high deductible health plan and allow you to accrue savings during your working years and apply those savings to your medical expenses after you retire. HSAs also have some unique tax benefits including tax-free access to funds if the funds are used to pay for qualified medical expenses. </li><li><strong>Long-term care</strong>: Hybrid policies combine life insurance with long-term care benefits that may help you pay for the costs of in-home care, assisted living, a nursing home or other related expenses that Medicare may not cover. Long-term or chronic care riders, available at an additional cost, may also be added to life insurance policies, allowing you to access a portion of your policy’s benefit early for care expenses.</li><li><strong>Medicare</strong>: Medicare is a federal health insurance program that provides coverage for people age 65 and older, and for some disabled people under age 65. The program consists of four parts, each of which covers different health-related expenses. Exploring your Medicare options is a great first step when it comes to covering routine costs. These include Part A (hospital insurance), Part B (medical insurance) and Part D (prescriptions). Medicare Part C, or Medicare Advantage, is the equivalent of Parts A and B coverage combined, along with some preventative services such as vision and dental. It is delivered through private insurance companies. This infographic can help you learn more about Medicare eligibility requirements, enrollment periods, and costs. </li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_2-0-16\">3. Understand Tax Implications</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-17\">As your income situation changes, your tax situation is likely to change too. To help reduce your tax impacts, it’s important to have a clear sense of which sources of income are considered taxable and which of them are tax-free. Social Security benefits, pension payments, and withdrawals of earnings from 401(k)s and IRAs are generally taxable, while certain types of withdrawals from Roth IRAs and Roth 403(b)s are typically exempt.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-19\">Work with an Ameriprise financial advisor and your tax professional to identify ways to help reduce your taxes and ensure you’re you have a tax-smart draw down strategy.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"mntl-sc-block_2-0-21\">4. Establish an Estate Plan</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-22\">Establishing a comprehensive <strong>estate plan</strong> is another important part of the pre-retirement planning process. Your estate plan should take into account your existing assets and how you want them distributed in the event of your death. Although this may be difficult to think about, estate planning has some significant benefits including protecting your assets and ensuring that your wishes are fulfilled. If you currently have dependents, it can also provide certain protections for them. Once you retire, it’s a good idea to revisit your estate plan and make any adjustments as needed.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\" id=\"mntl-sc-block_2-0-26\"><strong>Charitable giving </strong>can also be an important part of the estate planning process and it offers benefits of its own. In addition to helping you build a lasting legacy, a charitable giving strategy can carry certain tax advantages.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article, <a href=\"https://www.investopedia.com/preparing-for-retirement-why-income-and-health-care-should-be-top-of-mind-5201786\">click here.</a></p>\n<!-- /wp:paragraph -->','Planning for Retirement: Four Factors to Consider','','inherit','closed','closed','','2185-revision-v1','','','2022-03-07 19:38:18','2022-03-07 19:38:18','',2185,'http://smartinsurance.tips/?p=2187',0,'revision','',0),(2188,1,'2022-03-07 19:56:02','2022-03-07 19:56:02','<!-- wp:image {\"id\":2189,\"sizeSlug\":\"large\",\"linkDestination\":\"none\"} -->\n<figure class=\"wp-block-image size-large\"><img src=\"http://smartinsurance.tips/wp-content/uploads/2022/03/Small-business-1024x536.png\" alt=\"\" class=\"wp-image-2189\"/></figure>\n<!-- /wp:image -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\">Started a new business? Find out why your business needs to start budget planning.</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Preparing for the future, especially from a financial standpoint, is critical for all businesses. That\'s why all businesses need to forecast their revenue and expenses to ensure they remain profitable. The best way for many small business owners to do this is through budget planning.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">With a monthly snapshot of your expected business expenses, you can manage your money and track your spending habits. This allows you to forecast for things like take-home pay, wages, bills, and payments for loans or other debts. It can even help you set up an emergency fund.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">By creating a workable budget, you can track cash on hand, expenses, and the&nbsp;revenue you need&nbsp;to keep your business growing, according to Nick Kolbenschlag, managing partner and co-founder of Crown Wealth Group.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">\"When you take the time to put the numbers to paper, you increase your chances of tracking them to ensure your business succeeds, helping you anticipate future needs, spending habits, profits and cash flow,\" Kolbenschlag told business.com. \"Proper budgeting also allows you to identify problems before they become major issues, giving you the ability to course-correct in real time.\"&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Your budget process should include updating your expenses monthly, which allows you to verify that your business is on target to maintain profitability. Here\'s everything you need to know about budget planning for your business.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"what-is-budget-planning\">What is budget planning?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Budget planning is the process of creating a plan to spend your money. It allows you to determine in advance whether you will have enough money to do the things you need or would like to do.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Budgeting helps you save money for the long term or for when your business needs it most. If your accounting software doesn\'t have budgeting features, use a budget calculator – a tool meant to help you establish a budget, create a savings plan, and pay down debt.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">\"Budget planning involves looking at external (economy, regulations and laws, etc.) and internal factors (staff, revenue, expenses, etc.) and then estimating needs, incorporating unexpected things, developing future goals, and looking at historical information and trends,\" said JeFreda Brown, CEO of Xaris Financial Enterprises.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"how-do-you-create-a-budget-for-a-business\">How do you create a budget for a business?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Budgets indicate how much money is spent on aspects of the business like payroll, advertising, supplies and other necessities. To create a budget, small business owners should look at revenue and expenses for the entire calendar and fiscal year. Look at what you spent the previous year and project if you will spend the same, less or more moving forward.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">The goal of budget planning is to lay out all necessary components and brainstorm your goals, according to Shahid Hanif, founder of Shufti Pro. Hanif named some steps the budgeting process should include:&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"ordered\":true,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ol class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Examine your revenue.</strong>&nbsp;The first step in any budgeting process is to look backward at your existing business and find all your revenue (income) sources.</li><li><strong>Subtract fixed costs.</strong>&nbsp;The second step in creating a business budget is to add up all your fixed costs, like rent.</li><li><strong>Determine variable costs.</strong>&nbsp;Variable costs include the price of labor or raw materials.</li><li><strong>Set aside a contingency fund for unexpected costs.&nbsp;</strong>These expenses don\'t arise only when it\'s convenient.</li><li><strong>Create a&nbsp;profit and loss statement.&nbsp;</strong>Once you\'ve collected all the above information, it\'s time to put it all together to create your profit and loss statement, or P&amp;L.</li><li><strong>Outline your forward-looking business budget.</strong>&nbsp;Whether you\'re a new business or you\'ve been doing this a while, projecting what will happen to your business in the future is educated guesswork.&nbsp;</li></ol>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">It\'s best to categorize your budget by fixed expenses, variable expenses and non-necessities. Fixed expenses stay constant, regardless of the number of sales, according to Axel DeAngelis, founder of NameBounce.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Tip:</strong>&nbsp;Categorize your budget by&nbsp;fixed expenses and variable expenses, as well as non-necessities.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">\"Generally, fixed costs are contractual,\" DeAngelis said. \"An example of a fixed cost is rent. Unless your business pays percentage rent based on sales, the rent is generally contractual, with fixed increases throughout the life of the lease.\"&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Variable expenses can include some bills or software, as business owners tend to have more control over these expenses, and they fluctuate based on sales. DeAngelis gave sales team commissions as an example: If your business were to sell 10,000 products, you would pay your sales team more in commissions than if you sold 100 products.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Non-necessities are expenses such as travel, entertainment or office perks like a flavored water cooler. This category usually does not include the monthly expenses your business needs.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Editor\'s note: Looking for the right accounting software for your business? Fill out the below questionnaire to have our vendor partners contact you about your needs.&nbsp;</strong></p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"what-information-do-you-need-to-create-a-budget-for-a-business\">What information do you need to create a budget for a business?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Budgeting for your business should include anything and everything you will spend money on during the fiscal year. Failure to use a budget for your business is a missed opportunity to meet your financial goals.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">According to Ken Wentworth, founder and \"on-demand CFO\" of Mr. Biz Solutions, it\'s crucial for business owners to analyze and include four key pieces of information when creating a business budget.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"ordered\":true,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ol class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Revenue:&nbsp;</strong>For revenue, you must first establish your annual goal, then use your historical actuals to determine how to accurately distribute your annual amount across the next 12 months.<br></li><li><strong>Cost of goods sold (COGS):</strong>&nbsp;Once you\'ve established your monthly revenue budget, use those numbers to drive your COGS budget. Again, use your recent historical percentages to determine each COGS line. Determine the average percentage for each line based on monthly revenue projections.<br></li><li><strong>Overhead costs:</strong>&nbsp;Review your most recent year and adjust as needed. For example, you can start with a baseline of last year\'s actuals. From there, adjust reflected activity for the budget year – eliminate nonrecurring expenses from the baseline year, make additions for known one-time expenses in the budget year, make reductions for known savings, and so on.<br></li><li><strong>Margin review:</strong>&nbsp;To ensure your new budget will help you accomplish your goals, review your gross margin percentage and net margin percentage. What are your goals for those two measures? Make sure the new budget you created reflects those goals. For example, if you want to improve your gross margin from 52% to 55%, ensure your budget equates to a 55% gross margin. If not, tweak your COGS numbers to get there. This will set the budget baseline that you will use to measure your business\'s performance.&nbsp;</li></ol>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Bottom line:</strong>&nbsp;When planning a budget, make sure you know your revenue, cost of goods sold, overhead and margins.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"budget-planning-tools\">Budget planning tools</h2>\n<!-- /wp:heading -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Accounting software</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Accounting software is a simple solution for budget planning. The main benefit of using accounting software is that it already has the formulas you\'ll need within its programs. All that\'s left is to add or transfer over the numbers specific to your business. An optimal accounting software program is affordable, accessible and easy to integrate with other platforms your business uses. Here are a few&nbsp;highly rated accounting software solutions&nbsp;to leverage in your budget planning.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Intuit QuickBooks Online:</strong>&nbsp;This is perfect for small businesses because it provides access to a live accountant and integrations with many popular platforms like Salesforce and Bill.com. Learn more in our&nbsp;review of QuickBooks Online.</li><li><strong>FreshBooks:&nbsp;</strong>This accounting software provides invoice capabilities and double-entry accounting capabilities to create a chart of accounts and run new balance sheets. Learn more in our&nbsp;FreshBooks review.</li><li><strong>Oracle NetSuite:&nbsp;</strong>You can use the cash management feature to easily manage your cash flow and monitor your business\'s bank accounts. There\'s also a budgeting and planning feature directly in the program, making forecasting and budgeting a breeze. Learn more in our&nbsp;review of Oracle NetSuite.</li><li><strong>Zoho Books:&nbsp;</strong>This software is specifically designed for&nbsp;microbusinesses&nbsp;that can run weekly, monthly and quarterly reports to track performance income and expenses. Learn more in our&nbsp;Zoho Books review.</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"level\":3,\"fontSize\":\"medium\"} -->\n<h3 class=\"has-medium-font-size\"><strong>Spreadsheets and formulas</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">A spreadsheet is one of the most common and versatile ways to budget for businesses. A spreadsheet can organize and catalog your expenses in charts and graphics. Many computers come with&nbsp;spreadsheet software, and there are also online programs such as Quip that integrate with other software, such as Salesforce. Spreadsheets use various formulas, depending on the report you\'d like to create. You can create these formulas yourself or you can use premade templates, such as those found in Excel.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">For those who haven\'t used a spreadsheet to track expenses before, start with creating a monthly average formula. This gives you a better picture of your spending over the course of the year by creating annual projections. In the final formula, you\'ll see where your spending and expenses will be at the end of the year if you continue with your current budget plan.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"level\":3,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<h3 class=\"has-black-color has-text-color has-medium-font-size\"><strong>Cash flow statements</strong></h3>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">A&nbsp;cash flow statement&nbsp;is an often-neglected budget tool that is vital to long-term success. While an annual budget statement shows the total amount of sales and retained debt, it doesn\'t show the individual transactions. Keeping track of these transactions could be the difference in your business losing money or retaining an overflow of debt.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">A cash flow statement gives you the exact timeframe when a sale will be completed and when you\'ve acquired debt. Keeping track of these details ensures you\'re maintaining an accurate depiction of your credit and have enough cash reserves on hand to pay bills and expenses.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading -->\n<h2 id=\"what-are-the-three-basic-budget-categories\">What are the three basic budget categories?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">A business budget should include all of your business\'s current revenue and expenses. This budget should also include estimated or projected revenue and expenses. Brown listed three basic budget categories.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"ordered\":true,\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ol class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Operating budget:</strong>&nbsp;This is the annual budget that the company will follow to meet its financial goals.&nbsp;</li><li><strong>Capital budget:</strong>&nbsp;This is a budget developed when the company plans to invest in fixed assets, like new machinery.&nbsp;</li><li><strong>Cash budget:</strong>&nbsp;This is a budget developed to help company leaders estimate future cash needs and plan for emergencies and future investment opportunities.&nbsp;</li></ol>\n<!-- /wp:list -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>Bottom line:</strong>&nbsp;There are three budget categories to track – your operating budget, capital budget and cash budget.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"business-budget-templates\">Business budget templates</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Business budgeting is more complicated than balancing your personal checkbook. There are a lot of aspects to consider. It can be difficult to know where to begin. You may be afraid you\'ll overlook an important component. A business budget template gives you a blueprint you can work with when designing your budget. This can save a lot of time and frustration.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Choosing a business&nbsp;budget template&nbsp;might seem daunting as well. However, there are some key features that will help you narrow your search.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">First, you want a budget template that is easy to use. If you don\'t interact with your budget regularly, it won\'t be effective. Online templates allow you to access your budget anywhere and make edits. If the process is inconvenient, you\'ll be tempted to do the budget once and forget about it.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">According to the&nbsp;Corporate Finance Institute, customization is also important. You want a template that allows you to add items if you need to, and even change formulas if necessary. Every business is different. While budgets across businesses have many similarities, each one has its own nuances as well.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:list {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<ul class=\"has-black-color has-text-color has-medium-font-size\"><li><strong>Budget template by business.com:</strong>&nbsp;This&nbsp;Excel template&nbsp;includes a full resource page in addition to annual and monthly business budget templates.</li><li><strong>Excel template by the Corporate Finance Institute:</strong>&nbsp;This&nbsp;operating budget&nbsp;includes revenue, variable and fixed costs, non-cash expenses, non-operating expenses and capital costs.</li><li><strong>Google Docs annual business budget:</strong>&nbsp;Simple and customizable, Google makes it easy to&nbsp;create the budget&nbsp;you need.</li><li><strong>Microsoft Office business expense budget:</strong>&nbsp;This budget&nbsp;is solely for expenses. It allows you to easily compare projected and actual expenses.</li><li><strong>Excel profit and loss statement template:</strong>&nbsp;This template&nbsp;is designed to create profit and loss statements.</li><li><strong>Marketing budget template:</strong>&nbsp;Track your&nbsp;marketing expenses&nbsp;and determine which marketing strategies are worthwhile.&nbsp;</li></ul>\n<!-- /wp:list -->\n\n<!-- wp:heading {\"textColor\":\"black\",\"fontSize\":\"large\"} -->\n<h2 class=\"has-black-color has-text-color has-large-font-size\" id=\"how-is-planning-different-from-budgeting\">How is planning different from budgeting?</h2>\n<!-- /wp:heading -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Business planning and creating a budget for your business are closely related, but they have different goals. Hanif said that planning is usually the first step in setting up a small business and continues to be used as a workflow progresses.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">\"Planning could be something simple, like building your daily agenda, or long-range enough to envision where you want to see your business in five or 10 years, whereas budgeting determines how existing financial resources are allocated. Budgets are usually set by how previous money was spent and expected income.\"&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph {\"textColor\":\"black\",\"fontSize\":\"medium\"} -->\n<p class=\"has-black-color has-text-color has-medium-font-size\">Preparing a budget can be a difficult task, but once you do it, you\'ll have a much better understanding of your business and how to plan for the profitability you\'re looking for. If you regularly update your monthly budget, your annual budget will become easier to create and more accurate. When you know where your company stands financially, you can make better decisions to help your business be profitable and successful.</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To read the full article,&nbsp;<a href=\"https://www.business.com/articles/budget-planning/\">click here.</a></p>\n<!-- /wp:paragraph -->','How to Start Budget Planning for Your Business?','','publish','open','open','','how-to-start-budget-planning-for-your-business','','','2022-03-08 19:15:32','2022-03-08 19:15:32','',0,'http://smartinsurance.tips/?p=2188',0,'post','',0),