Monday, August 16, 2010

Office insurance - choosing the right sums insured for your portable equipment cover

Most business insurance companies will have a range of different policies aimed at different types of trades. The reason being that they understand that there are slightly different risks associated with different types of activities. The basic cover that is provided under most policies is very similar.

If you can imagine that the skeleton of a body is the basic cover, then the flesh on the bones is the slightly differing types of cover. The skeleton cover is usually cover for business buildings, assets, stock, computers and liability covers. Whether you are a salon, pub, shop or manufacturer, whilst there is not a legal requirement for all of these covers, you will need them. As a result they are included in commercial policies.

When you look for an office insurance quote, the covers we have mentioned will be included. Stock is the only one that is not always required as most offices do not necessarily include stock. But, if for example you are in it contractor operating from an office premises then there are likely to be times when you have stock and equipment delivered to you, which you will then install into a third party location.

One of the additional covers you will need for your office is portable equipment. When you look for a quote, or discuss your renewal, one of the things your broker will always ask you for is the value of your business contents. This is not the cost price that you paid, but the actual replacement cost in 2010. If you have been trading fro a few years, think back to when you first bought your PC's and/'or flat screen monitors. A standard PC was usually nearer to £1,000 and a good sized flat screen would set you back about half that. Nowadays though you can walk into most supermarkets and pick up a PC (with huge memory and RAM) and a minimum 19 inch monitor for less than £500.

So, you need to work out the value of your contents, to ensure that you are not paying too much. On the other hand though, it is the portable equipment (laptops, netbooks, PDA's and smartphones) that tend to hold their value more. This is usually because they are replaced quicker and with basic supply and demand economics, people will pay for these items because they are usually cutting edge technology.

Your office contents may be over insured and your portable equipment, may be under insured. If you have contract mobile phones, then you will find that unless you take out the mobile companies own (sometimes restrictive) cover, then you have to pay the replacement cost of any phones that are lost, stolen or damaged. A basic Iphone may only cost you £20 a month, but to replace it is nearer to £500.

There are two things you need to do, first of all get a proper inventory of every item that your business owns that you plug into the mains power either to run or to charge up. Once you have done this, you then need to put next to each item the cost you paid and how much you would pay out to replace the item. Forget the recession, as we have said before if there is demand for a product then the price to replace can be artificially high.

Then speak to your business insurance broker (because this is the only way you should buy your cover) and get them to thoroughly review all of your sums insured.

Tuesday, August 10, 2010

What are the rules for Obtaining Prepaid Credit Cards?

Credits cards are really helpful while you are out for shopping. You need not carry cash with you and also credit cards allow you to remove any limit on the amount of shopping you want to do.

But when it comes to paying up that credit many people finds it hard to make the both ends meet. Realizing this many banks have introduced prepaid credit cards so as to reduce the burden of high interest rates.

A prepaid credit card is just like any other credit card but the thing is that you need to have that amount of money in your bank account as that same amount would be deducted from your account almost immediately.

Just like the traditional credit card you need to have a minimum deposit in your account and also it has limits over the extent of expenditure. You can extend the amount you can expend but that will only be facilitated upon special request.

These terms and conditions imposed on the credit cards vary from one company to another. For this you need to compare what a company is to offer before obtaining their credit card.

While choosing a credit card there are certain pitfalls that you must avoid. Don’t go for the company which demands to keep your application on leverage on condition that you buy something from them. Avoid getting credit cards form the company that treats you with contempt. Since you are paying for their service you are entitled to be treated with proper respect and care.

You must avoid over drafting and the temptation of over expenditure such that you come to the brink of bankruptcy. The freedom of expenditure that is being offered by the credit cards does not give you any right to exploit it. You must be sensible while you use the credit card and keep the expenditure to your limits so that when it comes to repayment you don’t have to fight hard to make the both ends meet.

Tuesday, August 3, 2010

Payday Loans As Last Options

US economy is improving and many experts claim that US is out of recession but they are mainly looking at numbers at the Wall Street not the Main Street. Cash flow remains to be a major issues with the Americans. Lack of jobs, or lack of good paying jobs has many them under financial constraints forcing them living paycheck to paycheck.

But even having a paycheck is not enough anymore. Due to the inflation, caused by poor economic recovery, paychecks are not keeping up with today's expenses and as the results Americans are looking to borrow money from their credits cards, and other alternative short term loans.

Among all these alternative loans, payday loans, seem to be the most popular type of loans. They are the fastest type of loans and they are the less risky of all loans. There are often no credit checks. As the name payday implies, customers jobs and their steady paychecks are enough to qualify for a loan.

The amount of the loan depends on a few factors such as borrower's income, bank balance, and their existing payment history for the lender. For example if borrower's first time from a lender, chances are that borrower will not be qualified for the full amount he or she applied for. For example if borrower applies for a $500 loan, he or she will probably qualify for half of asked amount, in this case is $250. The if he or she makes the payment on time, that will establish a good relationship with the lender so next time he or she can ask for a higher amount if needed.

Payday loans can be obtained either by going to a local paycheck advance store or by going on-line. There are many websites offering payday loans but the payday lenders that are trusted stand out by offering a full service including live support. They are the ones that educated their customers on how payday loans work, and help them with payment plans.