Advantages of Bus Travel

Bus is the most popular transport nowadays. Many people choose bus as the best transport for them because of the many advantages they find in it. Others never get on a bus, thinking only of the disadvantages, which are truly a lot. Here I will tell you the reasons why it is better to choose travelling by bus rather than travelling with your car for example.

The good standpoints for travelling by bus

Many people choose bus transport because it is cheap. This is the main reason why when you get on a bus you will see mainly students and old people. The tickets for long destinations are much cheaper than the flight tickets. You can also by a card for every month and travel at reduced fare. This is also a good advantage to choose bus transport, because it saves you money that you can spend on your next vacation.

Another good advantage of bus transport when going on short travels is that bad weather won’t be a problem for the bus driver. If you are planning to go to the nearest village with your bicycle and it starts raining or snowing, you will get wet for sure. If you choose the bus, you can save yourself this uncomfortable situation and it also can save you money because it won’t get you sick. Also if you choose to take a flight and the weather surprises you and a storm comes out, you may be waiting for hours because of delayed flights.

However, this won’t happen if you choose bus travel. In modern buses, you will have an air conditioner, toilet, the bus-hostess will offer you drinks and snacks to make your trip more enjoyable, and there are also at least two TV sets in new travel buses. So you can enjoy your trip watching a movie and having a snack without worrying when will be the next stop for the toilet. Also if you are travelling on a bus for more hours or even days, you can always make new friends there. So, the new social contacts are the other advantage of the bus. And if you have to choose between a plane or bus, remember that you will see much more if you are travelling with a bus. The bus also stops at many places during the travel and in that time, you can have a coffee or a cigarette if you are a smoker. In the plane this could not be done.

Another good advantage of buses is that they reduce the traffic jams in the rush hour in big cities. Imagine that everyone uses cars. The traffic jams will be a lot bigger than they are now. In some countries like India, a bus can gather more than 150 passengers. Imagine that all these people were using their cars instead of bus transport the cities will be crowded.

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Manage Debts the Smarter Way!

Spiraling debts can be a cause of concern for any borrower. They can create an adverse effect on the financial status of the borrower. Wondering how to deal with the troublesome situation? If you are facing financial hardship due to them, it is time to seek help. Debt management might be the solution to all your problems! Read on and find out how …

Know why should you seek this kind of service?

O One affordable monthly payment
O Reduced credit repayments
O The guide to a debt free future

The truth is that credit card debts are usually an outcome of unplanned spending and late repayments. They are the worst debts you would have encountered! You have a number of options to get rid of such problems.

When you opt for solutions with a team of financial experts, the professionals will assess your current financial situation and help you choose options on a spending plan. You can seek help from such experts. They will negotiate terms of your debts with creditors as well! In simple words, they will take care of all kinds of debt problems on your behalf.

There are several ways of managing this kind of problem. To start with, you could avoid credit card usage as much as possible or opt for consolidation finance as a part of the solution. You must begin by trying not to spend too much over your usual balance. This will help you ease your debt worries. Doing so, will ensure that you are on the road to a debt-free life sooner than you had imagined!

Managing payment of credit card bills can be one of the major contributing factors of managing such kind of problem. It saves a large chunk of your money with one single payment every month, well within your reach! It is much simpler to pay just one bill every month. Here, if you are burdened by this kind of problem, you need not put yourself through any more stress! By following this kind of advice, you can manage your financial problems easily. You can also reach out to financial experts who can take care of your financial predicament.

You must consider these kinds of solutions only after a careful analysis of your personal circumstances and constraints! Make sure you make the company aware of your problems. This will only help arrive at a suitable solution.

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The Truth About Personal Injury Protection – & Some Myths

Trying to get insurance cover can be a real minefield to most people. It is almost always an unbelievably expensive item with respect to the family budget. Unfortunately however, it can be horrendously costly in another way if the cover is not appropriate or does not cover the intended items. Let’s look at the main kinds of cover and attempt to throw a little light on the subject.

The best automobile insurance policies will include the following items: uninsured motorist coverage, personal property liability, collision coverage, bodily injury liability, comprehensive coverage and personal injury protection (PIP). Some of these elements are required by all states whilst others are not required. Collision coverage pays for all damages to a automobile or other vehicle when it is in collision with another automobile or other vehicle or non-vehicular object, even if the insurance holder is at fault. Comprehensive insurance policies protect the insurance holder in the unfortunate situation that their automobile or other vehicle is taken without the owner’s permission, damaged illegally, harmed by an act of nature or damaged otherwise. Both of these kinds of insurance are always optional and are usually very costly.

Bodily injury and personal property insurance are required by all U.S. states in in one way or another. Where the states differ greatly is in the minimum guaranteed payout that is set for each. For example, in Alaska, a driver is required to carry coverage that has a guaranteed minimum bodily injury payout of $100,000. In Florida, a driver is only required to carry coverage worth $10,000.

Many elements of an auto insurance policy that could be optional are cover for the uninsured motorist and personal injury protection. The coverage for the uninsured motorist protects the insurance holder in case he or she has an accident with an uninsured person. It provides the insurance policies that should possibly have been supplied by the other party. PIP, in the event of an accident, pays for the medical expenses and other assorted damages incurred by the insurance holder and their passengers (or if the insurance holder is an injured pedestrian). Carrying personal injury protection is mandatory in: Colorado, Delaware, Florida, Hawaii, Kansas, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, New Jersey, New York, North Dakota, Oregon and Utah.

Even if personal injury protection is not mandatory in your state, you may still want to consider purchasing the insurance policies. PIP, in the event of an accident, will pay around 80% (depending on insurance policies limits) of the costs of the insurance holder and passengers. These costs include medical bills, lost wages and other assorted expenses. personal injury protection is a no-fault policy, so it will cover you and your passengers, even if the reason for claim was your fault.

personal injury protection, sometimes known as Medical Payment Insurance or Medpay, is a no-fault insurance policies for a couple of reasons. Firstly, the fact that blame does not have to be confirmed saves time and therefore allows medical payments to get into the pockets of the injured parties as soon as possible.

Secondly, it saves everybody from the cost of lawsuits being filed so that responsibility can be proved for an accident and therefore who has responsibility for the bills. One time a personal injury protection policy might allow for a lawsuit is when serious injury or death occurs.

Before you purchase personal injury protection, you would be advised to take a look at your current policies and see whether or not the insurance policies offered by personal injury protection is duplicated elsewhere. It could be that the cost of lost wages and medical bills may be recovered through an existing health insurance policy. If this is the case, then you may need minimal personal injury protection or none at all. Your driving habits will also help determine whether or not you need personal injury protection. Do you carry passengers on a regular basis? While your health insurance might cover your own medical expenses, it won’t cover those of your passengers (unless they are members of your family who are on your health plan). Ask your regular passengers about their own health insurance policies and its coverage. If they are inadequately covered or not covered at all, you need personal injury protection in order to keep them covered. This may seem like the thin end of the wedge, especially if you’re the one driving an office car pool, however, the safety of any passenger riding in your car is always going to be your responsibility.

If you reside in a state that requires personal injury protection you will need to know the minimum amount of cover you must have because this has already been decided for you. If you live in a state where personal injury protection is not mandatory however, you might decide that you need the extra insurance policies anyway. How much insurance policies you need depends, mainly, on your age. If you are middle-aged or older, have good health and liability insurance policies, then you will need minimal personal injury protection insurance policies. If, on the other hand, you are young, just starting out and still don’t have much in the way of health and liability insurance, you will want to protect yourself, your family and your future by carrying as much insurance as you can afford. This is especially true if you have a young family or if you constantly carry others in your automobile or other vehicle.

So there we have it, whether you require PIP and at what level, depends on several factors: where you live, your driving habits, your employment, your health, your personal circumstances and your level of existing cover. Whatever your circumstances however, you need to research it carefully so that you can rest easy knowing that you are safely covered.

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Five Power Closing Techniques for Insurance and Financial Advisors

So, you have made it through the prospecting game. You made your cold calls, sent out your mass mortgage mailers, invited people to your coffee-sponsored seminars, you qualified responders as being serious prospects and have set the appointment.

Now what? You have done all this work, are you sure you are going to get their business? In this article are 5 closing techniques to help you solidify the deal and make the sale.

1. Quality Demonstration – If you are going to take the time to give a demonstration, be sure that you listen to your potential client’s needs and interpretations of what they expect to get out of your appointment. There is nothing worse than explaining variable life insurance and all the different cash options and disability waivers…to find out they only have a budget of $50 per month. So, listen and then tailor your demonstration to focus on their needs and to solve whatever void they need filled. Don’t get too wordy. The best demonstrations have few words, but are very poignant.

2. Small-closes – Throughout the demonstration, try to get periodic “buy ins” and acknowledgments that you are on track with solving their needs. Ask for their opinions, ask open ended questions; be sure to engage the potential client. If you can make many small closes throughout the sales process, then when it comes time to pull out the application, they won’t be shocked or caught off guard. When they ask a question, re-state their question. This does two things: it lets the potential client know that you are listening to their concerns, but it also restates to them what they have just said is their need. So, when the time comes for you to discuss possible solutions, such as term insurance to cover the mortgage, or a wrap-around disability income policy to substitute the rest of their income, then they cannot back out and say that it isn’t a concern.

3. Between 1 and 10 – This has got to be one of the greatest closing lines ever. It is easy to do, and it forces the potential client to sell themselves. When you have finished your demonstration, you simply turn to your client and ask them, “Between 1 and 10…10 being ‘I am ready to fill out the application and never worry about how my family will financially survive if something should happen to me’…or 1 being ‘I wish you would leave my house right now’….where do you fall? And no matter what they tell you, you ALWAYS answer, “Really, a “#”? Why so high?” Even if they tell you a “4”….you answer, “Really, a 4? I thought you would be a 3, you had your arms crossed and didn’t seem interested in anything I was saying. Why are you so high? What made you choose a 4?”

And then let them answer. Even with a low number, they will point out the features that they liked. They will point out the solutions that worked best. They will also tell you what they didn’t like…and then you can move forward from there. If they were turned off by the price….them give them other options. If they were turned off by the fee structure of A-share mutual funds, then tell them about B or C shares.

4. Suggest/Recommend– This isn’t so much a closing technique as it is a phrase that sets you apart from others by presenting you as the expert. Think about the times you have heard people use this phrase with you. Typically most large oil changing stations will say at the end of their “12 point inspection”, “I recommend you flush out your steering fluid or use a fuel injector cleaner”. What happens is that, they are recommending this to you, which gets you thinking, “hmm…they are the experts, perhaps I should listen to them”. Versus someone saying, “you NEED to do this.” That phrase turns us off. “I don’t NEED to do anything!” When you are sitting with a prospective client and you have finished your demonstration and they have agreed that they need to begin a college savings plan, or invest in a sound life insurance policy, the next phrase out of your mouth should be, “As your Financial Representative, I suggest we get started with…..” or “I recommend that we…..”. It sets you up as the professional that they will trust.

5. Take the sale away -This phrase sounds like the opposite of what you want to do, but rather than chasing someone for the sale, make them ask you for it. Statements like, “I don’t even know if you will qualify for this….why don’t we fill out some of the medical questions to see if we should even move forward with underwriting.” Or if they balk at the initial deposit to open a college plan or annuity, try saying, “You know what? Maybe you are right. This college plan doesn’t seem like the right fit to help you cover the cost of your children to go to any school they want to….why don’t you check out state savings plans through the bank…I believe that enrollment period starts in 6 more months”. This gets the person thinking, “Well what is wrong with me? I want to fit in, I want to belong.” When you push something, it moves away from you….when you pull the same item, it comes towards you. Another move you can make…if someone says that the premium is more than they want to spend, you can always say, “you know what, maybe you are right, but why don’t we go ahead and get you underwritten, see if you even qualify for this low of a premium, as you could come back rated. Then once you are approved, then we can determine which policy will work best for you.”

It takes a little time to change your thinking, especially when you are just starting out. But give it some time, and practice these steps. You will see clients becoming more attracted to you as a professional.

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BCIN? Difference Between Designer, Architect and Engineer According to the Ontario Building Code

As I meet with new clients and friends every day, I commonly hear the same questions “What is a BCIN?” “When is a BCIN required?” etc. Here is some clarification to the public on some important issues about choosing a company to provide you with plans. Please note that this information applies only in the Province of Ontario.

What is a BCIN?

A BCIN stands for ‘Building Code Identification Number’. This number is assigned by the Ministry of Municipal Affairs & Housing, to successful applicants who have completed the requirements outlined in Division C Section 3.2 of the Ontario Building Code. There are two distinct types of BCIN number, individuals & firms. Individuals are people who have completed the exams and have received a BCIN from the MAH; however, they do NOT carry any insurance. As a result this limits the types of projects that the person can do. Firm BCIN’s on the other hand MUST carry valid liability insurance, and depending on the amount of designs fees that a firm charges in a year will dictate the required amount of insurance coverage they must have. Insurance is expensive but it is there to protect you so avoid working with companies who do not have it. For most people, a home is your single largest asset; do you really want to get plans from someone without insurance?

How do I know if I am choosing a registered company?

The Ministry of Municipal Affairs & Housing maintains a database of all registered BCIN holders. The registry is available through a system called QUARTS. Once on the Public Registry, this system allows you to search by the individual’s name, the company’s name or the BCIN #. Once you have found a business or individual, it will bring you to a page with details on the company. It lists the mailing address of the business & contact details. At the bottom it should also show the Registration as ‘Registered Designer’ and the Status as ‘Current’. If it shows up as ‘lapsed or expired’ then this means that they either do not have valid insurance for that year, or that they are late in filing their paperwork.

Do I need an architect or engineer for my project?

Probably not! There have been massive changes to the system in the last few years, opening the doorway for a new title; designers. Architects & Engineers are NOT required for any project less than 600m² (6,458 sq.ft.) and less than 4 storeys. For most residential and small commercial projects, you do NOT need an architect or an engineer. However, and this is important, if the project involves severe structural modifications, an engineer may be requested by the municipality to review the plans. On this note, there is a BCIN exam which will supersede this requirement! If your design company is a registered company in the Category of ‘Building Structural’ then they can complete the plans.

When do I need a BCIN ‘stamp’ for my project?

Depending on the type of project you may or may not need a BCIN number on your drawings. You do not need a BCIN number if the project relates to the construction of a house that is owned by the person who produces the drawings or if it relates to a farm building less than 3 storeys. There are a few other instances, but these are probably the two most important. Often I hear homeowners ask for just the drawings to submit for permit (no stamp). This is allowed, but as the homeowner you must be knowledgeable of the drawings (after all, you are claiming that you have produced them). It is okay to admit to the municipality that you hired someone to draw them for you, but at the end of the day you will be responsible to ensure that the drawings meet code. If the city has approved your building permit based on the drawings and you proceed to build your project to the drawings only to later find out that there is a problem, you will be on the hook to make any necessary adjustments to pass inspection. Most companies will charge from $200 to $2000 for the use of their BCIN number on the drawings. This may seem expensive but it is the security blanket that will keep you safe and ensure that your drawings meet code! I also personally apply for the permits and handle all the paperwork on my client’s behalf when I charge this fee; which most people prefer as nobody likes to stand in line for half a day to submit paperwork to the City.

I hope that this will help to clarify any questions you may have had regarding the requirements of having someone produce building permits for your project. I look forward to working with you, and if you have any questions then please don’t hesitate to ask!

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Could the Great Chicago Fire Been Prevented?

  • Nearly 300 deaths
  • More than 2,000 acres
  • 17,500 buildings
  • 73 miles of road
  • 90,000 left homeless
  • $ 222,000 in damage
  • The destruction of between two and three million books from private library collections

What do these have numbers have in common? If you answered the Great Chicago Fire of October 1893, you would be correct. And while as devastatingly as fire is in Chicago history, it is not the only horrific fire-related Chicago history. In fact, just a few years later (December 1903) there were more than 600 deaths when the Iroquois Theater burned and later listed as the deadliest single-building fire in American history.

What is more interesting, is that while the exact cause of the Chicago fire has ever been determined, the Iroquois Theater fire could have been prevented had the proper measures been taken. History shows that a Chicago fire department captain, toured the facility and noted that "there were no extinguishers, sprinklers, alarms, telephones, or water connections; the only firefighting equipment available were six canisters of a dry chemical called" Kilfyre ", which was Normally used to douse residential chimney fires. "

He reported the problems to his superiors, but was told that nothing could be done, as the building had its own fire warden. In addition to the lack of firefighting equipment, the editor of the Fireproof Magazine , toured the facility and reported that there was an "absence of an seize, or stage draft shaft; the exposed reinforcement of the (proscenium) arch; the presence of wood Trim on everything and the obligation provision of exits. "

After each of these events, Chicago rebuilt. But what if there had been something in place to send out an early alarm? How many lives would have been saved had the Iroquois Theater taken the time to make the necessary changes? Yes, it was a century ago, and modern assumptions as we know today were not available, but that does not excuse the loss of life and property destruction.

So, with a proactive focus in mind, what are you doing to protect your home and family from fire, theft, burglary or mayhem of any sort? Whatever you choose to have utilize the services of one of the local Chicago home security systems or opt for a nationally recognized company, taking care of what matters to you is important. After all, as the early residents of Chicago learned, it's not much fun to clean up after a fire! Do not make the mistake of thinking you could be excuse form personal injury, property damage or a break in. Do your part to keep your family safe.

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Top 7 Reasons New Insurance Agents Fail to Reach Success

I would like to offer some insights as to why I believe such a high percentage of Insurance Agents fail in their first couple years in the insurance business.

There can be multiple reasons that contribute to a new insurance agents failure. Here are the most common reasons I have found that lead to failure.

  • Most Insurance Agents have a Limited product portfolio and are unable to cross sell other insurance products.
  • Agents do not have a proven sales track or sales system to follow which most new insurance agents need to get results quickly.
  • They do not create consistent cash flow from insurance sales quick enough and must leave the insurance business to go back to an hourly paying job just to survive.
  • New Insurance Agents start out in the insurance business with little or no reserves to fall back on. Most businesses require some upfront capital or reserves to get started.
  • A lot of agents do not get enough training (Product or Sales) to give them a fair chance of making it in the insurance business.
  • Insurance Agents are not taught effective prospecting and marketing techniques that generate a consistent flow of sales prospects.
  • Some people simply do not have the drive, work habits, persistence, self motivation or ability to handle rejection that it's takes to survive in an insurance sales career.

From my experience of hiring and training insurance agents over the past 23 years, I have found the following items need to be present in order to maximize a new agent's chances for success long term in the insurance industry.

  • A quality multi-product portfolio to offer multiple insurance solutions when different needs are uncovered during the initial fact finding process with a potential client.
  • A proven sales track and presentation that can be taught and implemented very quickly. One that gets sales results but also generates a generous flow of new prospects and referrals.
  • An advance commission system that provides weekly cash flow so the new agent can focus on their training and sales, not their bills that are due.
  • Tools that make learning and growing in the insurance business fun and automatic. (Ie Archived Training Videos, Health and Life Quote Engines, Live Product and Sales Training Webinars, etc.)
  • Quality contracts that provide immediate 100% vesting rights and commission growth opportunities to General Agent commission levels.

At National Marketing Group we have learned over the years the essential pieces that new agents need to not only survive but thrive in the insurance industry. Our mission statement says it all. "First, to offer the Independent Insurance Agent a support system that provides a platform for success in Insurance Sales. Second, to build long term relationships through a foundation of trust and commitment."

We sincerely believe the 80% -90% failure rate of new insurance sales agents entering the insurance industry can be significantly reduced when the right agent support system is in place. We encourage you and invite you to join us in this very exciting and rewarding career opportunity. Hope to hear from you soon!

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Why Donegal Car Insurance Is the Best

The Donegal Insurance Group tracks its beginnings way back to the birth of the Donegal and Conoy Mutual Fire Insurance Company in 1889. It all started in Marietta, Pennsylvania when the area farmers decided to form the company to protect themselves preemptively from losing their properties in fire Accidents and the potential impact that is sure to follow, especially the financial aspect of that impact. As time passed by, they changed its name to the Donegal Mutual Insurance Company. And one of the products it offered to the buying public is the Donegal car insurance.

Bodily injury and property damage liability is the main coverage provided by Donegal car insurance policies. It also includes a vehicle's physical damage coverage. The bodily injury liability accommodates coverage for any legal responsibilities and obligations in the case of accidents that caused any kind of injury to other drivers, their pedestrians and passengers. The property damage liability coverage on the other hand, provides protection for unjust accidents that damages other people's properties. And if ever that accident will invelve any legal costs, especially defense, then it will also be covered as well. There is also a certain type of coverage intended for any uninsured individual, even the underinsured. The uninsured and / or underinsured coverage will protect that customer and his or her immediate family members from the costs of the injury in the event of an accident that was caused by a motorist not insured or those underinsured.

There are also other attractive features included in its auto insurance policies:

  • They offer good student discounts.
  • The Donegal insurance system can account for high chargeable accident thresholds
  • They also offer different programs regarding first accident forgiveness. This means that Donegal Insurance will not raise your insurance rate after the first at-fault accidents.
  • Excellent drivers are entitled extra edge discounts.
  • PACE protector endorsement program.

The car insurance policies offered by Donegal have various options to help you get the best out of your coverage. There's also a collision coverage that handles the repair costs of your vehicle that is damaged by the other party in an accident. Another type, the "other than collision" coverage is offered in particular in cases like fire, theft, vandalism, glass breakage and other known perils.

You also have the option to add coverage for the towing of your disabled car and other labor charges, and a rental reimbursment coverage to handle payment of the rented car cost in the event of a spiritual loss. You can also save on Donegal's insurance coverage if your car possesses passive seatbelt restraints and air bags. It would also be ideal if you have anti-theft devices and anti-lock brakes in your car. You can be qualified for credits with these. There are also other wonderful discounts that you can enjoy if you car pool and if you have undergone a driver's education class. Save additional money as you avail the multi-car discount program. You can qualify if you have more than once insured car. Now you can see why the Donegal car Insurance is the best.

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Advantages and Disadvantages of Short Term Insurance Plans

Short term health care insurance policies are becoming more popular by the day due to its flexibility as well as affordability. Many low-income households have no choices other than opt for these short term insurance plans especially when long term plans are not affordable. Although these temporary plans have their own set of limitations, these drawbacks are shadowed by several advantages that are offered by these flexible packages that make them extremely attractive, especially for those who can only afford low income health insurances.

What exactly are the disadvantages of short term health care coverage? Well, for one, it is extremely easy to obtain as application processes do not consume time, you could probably obtain approval within a day of applying. This makes the application process simple, so many flock to health insurance companies get these packages. Another primary advantage is the low premiums, this would be especially attractive for those who can not afford comprehensive health insurance plans. Temporary health care insurance plans also work perfectly for travelers who require insurance in the country of travel during vacations or excursions, as well as people who are between jobs or freshmen out of college. The flexibility of these plans allows you to choose how long you want to be covered, and lets you determine how much you want to pay for your premium (would reflect on the amount of coverage that you receive).

Neverheless, these plans do come with their drawbacks as well. With these health care insurance packages, renewals are not guaranteed, then once your policy expires, you would have to re-apply and hope to obtain approval once again. This could prove to be a little troublesome, as durations of the policy are typically between 30 and 360 days only. Short term health coverage also does not include optical, dental nor medical check ups, so you might incur extra expenditure if you need medical attention on these.

As a conclusion, short term health insurance plans work well for those who are in a financial transition period, or needs insurance during traveling. If the limits of these plans do not deter you, then you would be happy with what temporary health care insurance plans can offer for your benefit.

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Know About the Consequences of Not Having Public Liability Insurance Coverage

Public liability insurance is an important insurance policy that protects your business during the time of adversities. Especially, if your business handles risky activities like construction, plumbing, etc., or if the public enters into your business premises like in retailing, then this insurance plan is a must have. Owing to the uncertainty of accidents and the huge costs of legal claims, your business may run into crisis if you are not properly guarded by the right insurance plan, i.e. public liability insurance.

This article gives you a little insight into the consequences your business might face, if you do not have public liability insurance coverage.

Financial burden: Depending on the damage or loss caused to the third-party, the amount claimed may vary. But the third parties generally sue the company for heavy amounts as small amounts do not matter for both company and the sufferers. These claims will add up to the company’s existing costs and become a financial burden to the company. Managing the finances between the company’s needs and legal claims is not wise as it halts the business operations.

Legal battles: Apart from the amount to be reimbursed, a company has to face legal battles which occur as a result of lawsuits filed against the business by the third parties. The legal costs and expenses are generally high. You need to deal legal authorities with utmost care. These legal battles are hectic. The time and effort required to fight these legal battles is also high. It diverts you from your core business. But if you have a public liability policy, the insurance company assists you and takes charge in fighting these legal battles till the case is closed, besides paying the legal expenses.

Chances of bankruptcy: Inability to pay the outstanding charges claimed by the third parties may lead the business to go bankrupt. Unless a business has outstanding capital, it cannot afford to pay these legal expenses. Moreover, you are needed to provide additional financial assistance in the form of medical aid as in case of accidents and repairing charges in case of property damage, besides paying the lump sum amount and the legal costs.

Investment at risk: In case your business is facing a third-party legal claim, and if you are in a position where you cannot pay the claimed amount instantly, then, the bank or the court gives permission to seize your various monetary investments or fixed assets such as land, furniture or machinery to cover the legal expenses and the claimed amount.

Lack of mental peace: With the all the above issues, you will surely lose mental peace. These legal claims not only eat away the business’ time and effort but in some cases may ruin the business’ existence. Legal claims should be dealt instantly; any delay will only aggravate the tension and loss.

A good business will always be prepared for the future crisis. Having a public liability insurance policy is a wise decision. It provides timely financial help to pay the claimed amount and the legal costs without putting the business at stake.

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