All Specialty Vehicles and Businesses Have Specialty Commercial Insurance Plans

There is an absolutely massive range of specialty vehicles on the road today for different commercial applications. These different cars, vans, trucks and buses all look different and are used in different ways. They may have special features, usages and restrictions, along with unique risks that come with those different designs and applications.

This means that each type of specialty vehicle must be protected with its own specialty type of commercial insurance. There’s no such thing as one size fits all insurance, at least not when it’s provided to the consumer in the correct fashion.

There are two problems with this. One, the business owner pays for coverage they don’t need and which in no way could actually apply to them. There are all types of bells and whistles which simply amount to unnecessary cost, because they’ll never be used.

Two, the business owner is paying for coverage and assumes protection for their business, only to find out the hard way when they need it the most, that they weren’t fully or accurately covered at all. That generic plan must have had my specialty vehicle and type of business included, right? Maybe not, as many business owners go on to find out the hard way.

Simply look at two of the fastest growing types of commercial vehicles on the road today. There are food trucks, which everyone seems to love more and more. These are mobile kitchens with deep fryers and ovens, serving, storing and preparing food as they drive around. Clearly, those are unique risks and factors and a very specific insurance plan needs to be developed.

From there, look at ridesharing drivers, and the companies which have sprouted up over the past year. From Uber to Lyft, Sidecar, Wingz, and all the rest, these are personal cars used part of the time for commercial applications. There’s also a lot of gray area between those two different halves.So how are they supposed to be properly protected?

Then you have the full spectrum of specialty trucks. A refrigerated truck delivering food regionally clearly has different needs than a hazmat or waste truck, or a log hauler, or a long distance mover, or a tow truck. These are all very different in how they’re designed, what they do, the risks they face, and the coverage needed.

Don’t settle for a one size fits all or generic solution. Find a commercial vehicle insurance plan which has been carefully put together based around your needs, your business, the type of vehicle you’re using, and all the rest.

10 Tips to a Better Forex Trading Strategy

Over the past decade,Forex trading has grown rapidly thanks to its expansion on the internet. What was once considered a side trading strategy by those who delved in stocks is now open to millions of people who can trade on a daily basis.

The low initial cost and promise of quick results have certainly lured people of many different backgrounds and experiences into this form of trading. However, as many find out it is not as simple as they may have heard or have been promised. This is because proper Forex trading strategy is not based in short term gain, but in long term results which may run counter to the expectations of those who believe they will make quick cash.

The following are ten solid tips into creating the proper Forex trading strategy that will help deliver the results:-

Forex Trading is a Long Term Wealth Building Tool:

For those who are new to this form of trading, this is not a “get rich quick” scheme. In fact, effective Forex trading strategy is based on risking a little bit of money each day and not trying to “win big” off of a few trades. The weighing of the risk and reward is very important to employing the best strategy that will result in getting good trades. In other words, do not risk more than you can afford to lose.

Trade from Logic, Not Emotion:

A “good feeling” or “gut instinct” is exactly that, an emotion-based response that actually has no bearing on whether a trade will turn out good or not. Those that excel at Forex trading strategy base it on research, current events and trends while leaving their emotions out of the equation. The good feeling is simply not enough to risk any money on a trade without the proper research and backing.

Use Limited Leverage:

The ability to trade on margins is one of the most attractive features in Forex trading strategy. In fact, many Forex trades are accomplished with a high degree of leverage which means that only a small amount of money is actually put up front. However, if the trade goes badly then you will owe more than what was initially placed up to your entire investment depending on the margins. This means that careful management of the margins is in order, so limit the amount of leverage used on your trades.

Carefully Consider All Decisions:

Despite all the planning, there are a lot of random events that may occur which will create results that you may not expect. However, this does not mean that you should make decisions too quickly or not consider all the possibilities. Too many traders will simply go by their gut feeling and not do the proper research in order to get the best results. For example, it is always a good strategy to have a “stop losses” order in place just in case the trade goes against expectations.

Understand the Market:

It pays to know how the market in general reacts on a day to day basis. While some might say that “history never repeats”, it is helpful to understand the conditions which created favorable trades on your behalf. Good Forex trading strategy includes a good understanding of the market itself and how it reacts to daily events.

Always Use Stop Losses:

Stop losses exist because one of the worst traits that many Forex traders develop is the belief system that things will turn around for a trade no matter how bad the losses. By putting in a stop losses order, a trade that goes horribly wrong will only cost a small amount of the investment because it was stopped at a pre-set amount.

Keep a Checklist:

It always seems to be the little things that matter when it comes to successful Forex trading. When creating a winning strategy, develop a checklist that you can mark off once each step is accomplished. In that manner, you can better follow your strategies for creating the best trade possible.

A proper checklist should include the following:

Time of Day
Technical Indicators Used in the Trade
Buy or Sell Signals that have been Noticed
Risk/Reward Value
Daily Stop Limit

Be Methodical and Disciplined:

Once you have developed a disciplined Forex trading strategy that works, stick to it. A well tested plan will pay off more often than not which means that you can increase your overall success rate. The secret behind creating a healthy income stream with Forex trading is consistency in the approach. This means that each trade needs to be well thought out through good analysis and research.

Keep a Diary:

In other words, learn from your mistakes. Successful Forex traders keep a diary of when, where and why they took each trade while writing down all the pertinent details. From that information, a trader can then discover their winning strategy and then pursue it on a daily basis. Keeping a detailed diary, especially in the first few weeks of trading is a very valuable strategy.

Forex Trading is Money Management:

The difference between long term success and failure is how the money is managed. By risking a set percentage each and every time, a trader will limit their losses when they occur and thus keep more of their money in the long run. By effectively managing your money from day to day, the trading will limit the losses and the winning results will start to add up over time.

The most successful Forex traders are those who base their strategy on winning more trades than losing and building up their investment over time. Keeping up your motivation and following a daily plan will help anyone execute the best Forex trading strategy possible. This means additional research and looking for signals which indicate the best circumstances to make a trade. Once a proper trading strategy has been developed, you can use it over and over again with success to build up your investment.

Don’t Invalidate Fire Insurance

Don’t invalidate your fire insurance policy.

I find this a very strange case but it just shows how important it is to read the small print as if you ignore the conditions of the policy your policy could be invalidated.

In this case it was a condition of the FIRE insurance that the SECURITY Alarm was maintained and monitored. Times had been tough for the insured and he let the maintenance of the security alarm lapse and as the ARC had not been paid for 6 months they stopped monitoring the site.

Vandals broke in and set fire to the factory. It was a furniture company and they incurred losses of over £750,000.

The case went to the High Court, the judge had nothing but sympathy for the Directors of the Company and he took ‘no pleasure’ in ruling that as it was a condition of the combined insurance policy that alarm was to be monitored by an external firm, the Insurers did not have to meet the claim.

There are often conditions attached to the insurance policies we take out which relate directly to the risk. We need to make sure our cars have valid MOTs in order not to invalidate the policy. We are required to notify the insurance company if we get a speeding fine but, to my mind oddly, you do not have to tell them if you decide to do the Speed Awareness Course rather than pay the fine.

I have just come across a case, now in front of the insurance Ombudsman, where an insurance company voided the policy and returned all the premiums because the policy holder had unwittingly exceed the value of the ‘valuables’ within their contents insurance. They had insured the contents of their house for £60,000 but there was a clause stating that the value of the valuables should not exceed 66% of this.

They had to rush their daughter to hospital, and while they were out the thieves struck taking goods and damaging the property to the value of £70,000. When assessing the claim the loss adjusters calculated that the value if the valuables in the house exceeded £40,000. Normally claims would be ‘averaged’ to reflect the under insurance, but the insurance company in this case argued that the under insurance voided the policy. As I said this case is in front of the ombudsman as I write.

Back to case in hand where a fire insurance claim was dismissed as a security alarm and monitoring were allowed to lapse. Clients of ours run a hotel and there is someone on reception all the time so if the fire alarm is activated there was always someone on duty to respond. We came round to the time when the annual contract with the ARC [monitoring station] needed to be renewed. The Hotel Manger wanted to cancel it as it was considered an unnecessary expense. I said I agreed but asked him to check with his insurers to make sure they had no objections. The Insurers confirmed; monitoring was a condition of the policy.

Often with in the insurance policy there is a clause that the fire alarm is maintained in accordance with British Standards. It would be interesting to know whether a similar claim has been dismissed as the Fire Alarm has not been adequately maintained.

The Pros and Cons of Pawn Shops

There are many pawn shops that you can easily use as a means of quickly getting cash. However, before you walk into these stores you should know about the pros and the cons relating to them. There are pros and cons which could make you change your mind about pawn shops and it is important that you know what these are.

The Pros of Pawn Shops

There are a lot of people who know about the pros that come from pawn stores and using the services that they offer. The first pro that you find with these stores is that they do not complete any credit checks. This is due to the fact that you are leaving a valuable item with them as security for any loan that you are going to get.

The second advantage that you need to know about is that the loans you get are quick. In most cases you will be able to get the money that you need on the day that you sign the contract with them. The last advantage is that the pawn broker will allow you to get your item back as soon as you want.

The interest that the pawn stores will charge will only be for the period that you have actually borrowed the money. With many other loan services you are unable to pay off the loan quickly or you will need to pay an extra fee. This is not something that you face with pawn shops.

The Cons of Pawn Shops

There are a number of disadvantages that you will find with pawn shops. The first con of these stores is that pawn brokers are actually a relatively expensive means of borrowing. Like payday loan companies, pawn brokers are able to change any APR they want on the loans that they offer.

Another disadvantage that people do not know about is the fact that you usually can only borrow a percentage of the value of the item you pawn. This means that you would have to have a very high value item or multiple small value items to get high amounts of cash from the loan.

The third disadvantage that you need to know about is that the pawn shop is allowed to sell your valuable item if you are unable to repay the loan. Of course, they should give you some notice that this is what they are going to do. If the item does not sell for enough to cover the remaining loan amount then you are still liable for this.

The last con that you need to know about is the fact that your item could be sold for less than it is worth or less than what you would get for it elsewhere. This means that you could be getting less out of the deal with the pawn broker in the end.

There are a number of pros and cons that you need to know about when you look at pawn shops. By understanding these pros and cons you will be able to determine if using a pawn shop is the right option for you.

Fixing Your Credit – The Real Story

Over the years of working in the family law field, I have observed different trends with regards to debt and bankruptcy.

The bankruptcy laws have changed drastically and I tend to steer my clients away from bankruptcy because there is a much easier route to get debt relief and most people are not aware of how easy it really is.

When I use the statement “easy” I do not mean simple. There is work to be done and patience to be had. My approach to credit repair is the same regardless of the number of debts that need to be addressed.

While I will not share trade secrets, I will share some basic information that may help with the decision on what road you should take to get some financial relief.

My approach is not to use bankruptcy as an out. The reason is obvious. With my system, your credit will get better not worse. Not only will your credit rating improve, your debts will disappear at the same time, this is a win win scenario.

With bankruptcy you will go through the hassle of appearing in court, paying an attorney to prepare the bankruptcy documents, and then the 7 to 10 year mark on your credit.

No matter what, this is the ONLY thing that cannot be removed from your credit report. By law it must remain on your report for at least 7 years.

I have had many of my clients try other credit repair companies with little success. Part of the reason we are successful is we understand the laws and we do not quit until all items are removed.

I caution people to stay away from companies that charge by the month because common sense says that there is no incentive to getting the job done in a timely manner.

Keep in mind that there is no set time that this can take. I have had clients who I was able to “get clean” in four weeks and some take four months. There is no method to the madness. The process is the process and there is really no way to take short cuts as there are laws that govern the process.

The reality is sometimes it takes guts to take on some of the debtors and collectors so someone with thin skin may not be as successful. As a former Settlement Administrator for a Public Company I have no problem going up against the best of the best. I have studied the laws regarding debt collection and reporting and am confident in my ability to remove anything.

At the end of the day you have to make the best decision for you and your situation. Getting your credit report clean is a very real thing and you can have clean credit in as little as four weeks.