Do You Need Business Vehicle Insurance?
Do employees drive your car?
If so, you could be held liable for damages or injuries if an accident happens. To stay safe, a lot of businesses need to carry commercial auto insurance. However, not all types of companies need a complete commercial policy.
If so, you could be held liable for damages or injuries if an accident happens. To stay safe, a lot of businesses need to carry commercial auto insurance. However, not all types of companies need a complete commercial policy. Read more about commercial insurance.
While some companies need liability coverage, others simply need coverage for physical damages. If you’re not sure what coverages you need, then you’re in the right place.
Don’t leave yourself at risk. Here’s a breakdown of how each works and when you need to purchase business vehicle insurance.
Liability Business Car Insurance
Let’s start with liability coverage for company vehicles. This type of insurance protects businesses from claims made by third parties. The claims can include damages caused by accidents involving the company’s vehicles. In most states, businesses need liability to protect both their employees and property from injuries or damage.
Businesses with liability coverage are required by law to carry a minimum amount of liability insurance. In most states, commercial auto liability insurance must be at least $100,000 per accident.
If you want to run a business that uses vehicles, liability insurance is always wise choice. You especially need commercial coverage when vehicles will be on private property. For instance, if your vehicle will be going from one client’s house to the next, you’ll have increased exposure for liability claims.
Thankfully, the right commercial policy can protect your employees and you. If they’re in an accident while driving for work purposes, the insurance coverages kick in. However, if you don’t have commercial liability, you could be held personally liable for the accident.
Physical Damage Coverage
Next, let’s dive into physical damage coverage. If you only use your car for work purposes, you might not need commercial auto liability coverage. Instead, you may only need physical damage coverage.
Physical damage covers the cost of repairs to your vehicle if damage occurs in an accident. Physical damage does not cover injury or loss of life. However, it does protect your vehicle from damages inflicted by things like hail, flood, fire, vandalism, or theft. Low-risk businesses are prime candidates for physical damage coverage rather than liability insurance.
Questions for Business Owners
To determine whether you need liability coverage or physical damage coverage, ask yourself 3 questions:
- Do I own a vehicle that I use only for business purposes?
- Is the vehicle occasionally used privately by my employees?
- Do I have any employees who drive their vehicles for work purposes?
If you answered yes to all 3 questions, you probably don’t need commercial auto liability insurance. In fact, you may only be eligible for physical damage coverage.
However, it’s important to note that some states require both physical damage and liability coverage, no matter what. Check with your state’s insurance department to make sure.
Do You Qualify for Policy Discounts?
Running a low-risk business can also help you qualify for policy discounts. Insurance providers love bringing on customers that aren’t likely to file a claim.
By doing so, they can then spread or lower risk among a more significant number of clients. It’s worth your time to visit this website to see if you qualify for the low-risk discount.
Safe Driver Discount
If employees are going to be driving your vehicles, make sure you hire drivers with a clean driving record. The safer the driver, the easier it’ll be to secure a low policy rate. You can also check out these hiring tips to ensure the employee stays with your company for a long time.
What should you do when you’re ready to purchase a new policy? Visit an independent agent specializing in business vehicle coverages. They love helping small businesses find the right policies at great prices. Ask about discounts or special offers to save even more on your policy premiums.
Choosing Business Vehicle Insurance Deductibles
If you’re trying to cut down on costs, it might be tempting to raise your deductible. We don’t think this is the right move for most businesses since it increases the amount you’ll owe during an accident.
The deductible amount is the amount you have to pay before coverages kick in. Let’s say you have a $1,000 deductible, and an accident happens. The insurance provider won’t help until you pay the deductible off. In this instance, even though you might have high coverage limits, you’re still out $1,000, ouch!
On top of that, consider any employees who use their cars for work purposes. They may also have a deductible, which means your company is now on the hook for two deductibles instead of one. That’s why we recommend keeping your deductible at a reasonable number.
If you do need a higher limit for commercial auto liability or physical damage coverage, only raise the amount after considering the costs associated with each accident and how much you can afford to pay before help arrives. This will make it easier to stay within budget and prevent an emergency from putting your business in jeopardy.
What Coverages Should Business Owners Carry?
Let’s say you’ve determined that your company needs business vehicle insurance and physical damage. Great! The next step is figuring out which types of additional policies you should have.
You’ll need to determine exactly what kind of business you run, and the types of risks associated with doing so.
An installation service might need workman’s comp insurance and general liability insurance. At the same time, a bakery wouldn’t need worker’s comp but might want to consider product liability protection.
It’s also important to note that some coverages won’t apply when choosing physical damage coverage over liability. For instance, let’s say an employee driving someone else’s car causes an accident. In this situation, the property damage can kick in on the employees policy, while your company will pay for any injuries.
Do You Need Commercial Auto Insurance?
Now you know the difference between business vehicle insurance for liability vs. physical damage. Make sure to check with your state’s insurance department before making any decisions about your policy. Remember to keep your deductible at a reasonable number and hire an independent agent if needed.
Still not sure what coverages you need? Call an insurance provider today and find out once and for all! For more powerful advice, look around the rest of this site.
Top People Skills In Demand In The Aviation Industry Post-Pandemic
Do you have a taste for adventure? Working in the aviation industry might be the right career choice for you. If you are hoping to break into this field, it is important that you cultivate in-demand skills now. You might think that engineering or technical skills are the most important. But especially since the COVID-19 pandemic, people skills have become highly sought-after by airlines.
Below, we’ll discuss the best people skills to incorporate into your airline customer service, pilot, or flight attendant resume – and why they are needed in each position.
Which Aviation Jobs Require People Skills?
Which aviation jobs require people skills? The short answer to this question is all of them. Every job in this industry, even if it is not public-facing, requires the cooperation and communication of a team.
But in this article, we’ll focus on three aviation career paths that rely most on people skills: pilots (and copilots), airline customer service representatives, and flight attendants.
Why Pilots Need People Skills
The job of the pilot is primarily to fly the plane, but they must also possess good interpersonal skills. Why? As part of a team, they must work well with co-pilots, ground control, and other support staff.
During the flight, pilots speak to passengers over the intercom. Interpersonal skills are most needed in the event of turbulence or an emergency. By maintaining a calm voice, the pilot can assist the passengers in remaining calm, which is essential for in-flight safety.
Before and after the flight, many pilots interact with passengers. This communication can help build consumer trust and brand loyalty.
Unhappy passengers may raise complaints or speak to pilots with hostility following a flight. The pilot should then use good communication skills with a customer service focus, helping direct them to the proper outlet for their complaints.
Why Flight Attendants Need People Skills
A large part of a flight attendant’s job involves observing passengers and making sure everyone remains safe and comfortable. They must also clearly communicate safety instructions before the flight begins and in case of an emergency.
In recent years, strange and sometimes aggressive in-flight behavior has repeatedly made headlines. Flight attendants are on the “front lines,” so to speak – they are the ones that must deal with unruly passengers at the moment.
Flight attendants must master conflict resolution skills in order to deal with angry and unruly passengers. Whether it’s due to limited overhead compartment space, a crying baby, or disagreements over who gets the armrest, hostilities are not uncommon.
Active listening, self-control, neutrality, focus, and verbal softeners are among the best conflict-resolution skills for flight attendants to learn.
The best flight attendants also display empathy and compassion. “Everyone has a story,” explains Jeanie Brady, a Delta Airlines flight attendant with 27 years of experience.
Empathy is needed when passengers suffer from a fear of flying – nearly every flight has at least one such person. Flight attendants may be able to offer some level of comfort. In early 2023, one flight attendant made headlines around the world for holding a frightened passenger’s hand during the entire flight, sitting on the floor by her seat.
Each passenger also carries the emotional “baggage” of their life events. If they are enduring a difficult challenge, negative emotions may surface even during the flight. An observant flight attendant may be able to offer some kindness or comfort, making the hours spent in the air more endurable.
Why Ground Operations Personnel Need People Skills
Working as an airline customer service agent or ground operations agent may not seem as glamorous as jet setting on the job, but these positions are vital to the smooth operation of the airlines and consumers’ travel plans.
Customer service agents assist with ticket sales and reservations by phone and in person. They may also greet guests as they enter the terminal, announce flight changes and boarding times, answer questions, assist with recovering lost baggage, and other tasks.
As such, customer service, communication, and general interpersonal skills are a must. Ground agents must be able to remain calm and solve problems during stressful situations, such as those that may arise during a computer outage or when flights must be canceled due to weather.
Service agents should try to cultivate a positive attitude. Smiling and making great efforts to assist customers can often diffuse tense situations.
Gate agents especially must also refine their conflict management skills in order to handle unruly ticketholders in a professional way.
Working in the airline industry can be a great choice for people who love to travel. But it takes more than just technical know-how in order to succeed.
During pandemic-era restrictions and the travel boom that followed, customer service representatives, flight attendants, and pilots have had to interact with customers in new ways. This often involves conflict resolution, discernment in reading a situation, and empathy.
When you incorporate these in-demand skills into your resume, you’ll find yourself with a high-flying job in no time!
Introducing Oval Advisors: Your Trusted Partner for Financial Services in Geneva
Oval Advisors, led by founder Lambert Philipp Heinrich Kindt’ a top financial services firm based in the vibrant city of Geneva, is proud to announce its presence in the heart of the global financial hub. With a commitment to excellence and a client-centric approach, Oval Advisors aims to provide tailored financial solutions that empower individuals, families, and businesses to achieve their financial goals.
As a trusted partner in wealth management, Oval Advisors leverages its extensive expertise and deep understanding of the financial markets to offer a comprehensive range of services. Whether you are seeking investment guidance, retirement planning, asset protection, or tax optimization strategies, Oval Advisors has the knowledge and experience to help you navigate the complex world of finance.
What sets Oval Advisors apart is their unwavering dedication to building long-term relationships with their clients. The firm understands that every client has unique financial aspirations, risk tolerance, and preferences. By taking the time to listen and understand your specific needs, Oval Advisors develops customized strategies that align with your goals, ensuring that your financial future is in capable hands.
One of the key strengths of Oval Advisors is its team of highly skilled professionals. With a diverse background and expertise in various financial disciplines, their team of financial advisors possesses a deep understanding of global markets and trends. By staying ahead of the curve, they provide timely insights and recommendations, helping clients make informed decisions in an ever-evolving financial landscape.
At Oval Advisors, transparency and integrity are the cornerstones of their business philosophy. The firm believes in fostering trust by providing clear explanations, offering unbiased advice, and delivering comprehensive reports to keep clients informed about their financial progress. Oval Advisors is committed to serving its clients’ best interests and upholding the highest ethical standards, ensuring that the client’s success is always the top priority.
Recognizing the importance of technological advancements, Oval Advisors harnesses cutting-edge tools and platforms to enhance their service delivery. By leveraging state-of-the-art financial technology solutions, the firm offers secure online access to accounts, real-time portfolio monitoring, and efficient communication channels to provide clients with seamless and convenient access to their financial information.
Located in the prestigious financial district of Geneva, Oval Advisors benefits from its close proximity to international financial institutions and regulatory bodies. This strategic location enables the firm to stay well-informed about global financial developments, ensuring that clients benefit from the latest market insights and regulatory updates.
Oval Advisors is excited to establish itself as a leading financial services firm in Geneva and looks forward to helping individuals, families, and businesses navigate the intricate world of finance. With a client-focused approach, a team of experienced professionals, and a commitment to excellence, Oval Advisors is your trusted partner for achieving your financial goals.
To learn more about Oval Advisors and how they can assist you with your financial needs, visit their website at www.ovaladvisors.com or contact them at [email protected].
About Oval Advisors:
Oval Advisors, founded by Lambert Philipp Heinrich Kindt in Geneva, specializes in wealth management, investment guidance, retirement planning, asset protection, and tax optimization strategies. With a client-centric approach, a team of skilled professionals, and a commitment to integrity, Oval Advisors aims to help clients achieve their financial goals. For more information, visit www.ovaladvisors.com.
Lambert Philipp Heinrich Kindt
Email: [email protected]
How to start learning to trade?
Trading, like any other profession, requires advance preparation.Forecasting quotes is not a very simple task. To master this skill, you need to understand the pricing and the dependence of the asset itself on various factors. Also important will be the right choice of forex trading app.
You can learn all this both with the help of various courses, and on your own. In order to understand where to start learning to trade, you need to decide whether the trader will look for all the materials himself or pay for courses and be trained under the guidance of experienced professionals.
Directions of training in trading
Asking the question of where to start learning to trade, you need to decide in what form a trader is ready to receive knowledge. Today there are two main areas – specialized courses and self-study.
Self-learning assumes that the user himself will search for all the information on the Internet. For those who want to follow the second path and do not yet know where to start learning to trade, a small instruction is offered. This is how a potential specialist in the field of trading will understand what he needs to know for a good job, and, as a result, for a stable and large income. What aspects should be paid attention to?
- Fundamentals of creating a strategy in the financial markets.Here it is necessary to carefully study all types of available tools for market analysis, including indicators, chart patterns, macroeconomic indicators that can affect quotes;
- rules for managing capital and risks.
There are many other components, so the main ones should be chosen by the future trader himself in the process of learning and working.
Where to look for sources of information for training?
For those who want to understand how to start learning to trade on their own, it is important to learn how to look for useful materials. The easiest way is to find a broker who provides free training. On the websites of such companies, articles, e-books and videos are published, with the help of which the trader will get an idea of what he will face in the process of working in the financial markets.
Why can’t you learn to trade quickly?
Like any other profession, mastering trading in the financial markets takes time. And it’s not just about where to start learning to trade or about theory. You can get used to it pretty quickly. But as practice shows, it will take some more time to learn how to apply theoretical knowledge in practice.
Therefore, when a future trader is just wondering where to start learning to trade, he should be aware that there is a long road ahead. And it does not end with the first transaction in the financial markets.Traders, like programmers, are constantly learning to know and understand all the latest trends in the financial markets.
10 Lucrative Home-Based Businesses You Can Start With a Laser Engraver
If you have an artistic side and are considering small business opportunities, look no further than the shoes by your front door, the birthday card you bought your mum, or maybe even the shirt on your back.
Etchings and engraving are used everywhere for numerous products, meaning there’s considerable demand for the service. So with your keen eye and an accurate, high-quality laser engraver, you can provide professionally engraved products in just about any market.
The ideas below don’t scratch the surface of the business possibilities with the right engraving machine, but they can kickstart your creative juices and help you land on a product or service that suits you best.
10 Ideas for Laser Engraving Businesses/Products
- Customized Gift Items – You can use your laser engraver to create a personalized gift service selling items like keychains, photo frames, and jewelry. These can be great for occasions such as birthdays, weddings, or anniversaries.
- Engraved Signage – Engraved signs are always in demand for businesses or home decor purposes, including house numbers, nameplates, or directional signs.
- Awards and Trophies –They’re not just for school, recreational, or fantasy sports leagues; you can also create customized awards and trophies for corporate events or academic ceremonies.
- Personalized Home Decor –Common everyday household items are often laser engraved, including custom home decor items such as coasters, cutting boards, and wall art.
- Engraved Electronic Gadgets – You can engrave electronic gadgets such as laptops, phones, and tablets, providing a unique personal touch or service businesses that want to engrave their devices with their corporate logos.
- Engraved Wedding Invitations –Wedding invitations are a big business, with couples always looking for unique and personally-designed wedding invitations. Think Lovepop, the company that appeared on Shark Tank with their 3D greeting cards, which has been wildly successful since the show aired.
- Engraved Glassware – If you appreciate a beautifully-crafted glass vessel, you can engrave glassware such as wine glasses, champagne flutes, or beer mugs, which can be great for gifts or events.
- Promotional Products – Businesses often look for products they can brand with their logo and contact information. Ideas include customized promotional products such as keychains, pens, or magnets.
9, Personalized Stationery – Businesses are also often in need of personalized stationery items such as notepads, pens, or bookmarks.
- Pet Tags – Pet parents love their fur babies, so you can always create custom pet tags for pet owners, which can be a great business opportunity if you too are an animal lover.
These are just a few examples of the many home-based businesses you can start with a laser engraver. The possibilities are endless, limited only by your creativity to come up with unique and profitable ideas.
Taking Care of the Business Side of Your Engraving Business
Whether you rent out a spare room occasionally on Airbnb, drive for Uber, walk the neighbourhood dogs or craft beautiful engravings, if you make money from a business venture, you have to register your business with the government and report your income (minus expenses, of course) to the CRA.
A good place to start would be the “Setting up your Business” page from the Government of Canada. It provides all the details you need to choose the business structure that is ideal for your company. Your business structure has a major impact on how you report your income, as well as other tax and legal repercussions.
In a nutshell, the fundamentals of the most typical business structures are as follows:
- A sole proprietorship is the simplest and most fundamental type of business structure, making it ideal for self-employed people. However, because there is no legal distinction between your personal and business affairs, you are personally responsible for any debts or legal actions that the business incurs.
- Partnership. A partnership is a firm that is owned and operated by two or more persons. Otherwise, it’s similar in nature to a sole proprietorship.
- Corporation. Corporations provide the highest protection from taxes and legal liability, but they are complicated to register and require a lawyer and probably an accountant as well. Corporations are also heavily regulated and scrutinized by the CRA.
It’s crucial to select a business structure that makes sense for your current position and keeps in mind your long-term business objectives.
Emerging e-commerce trends in 2023
With only a few taps on your smartphone, internet shopping is now more convenient than ever. E-commerce is not only a popular choice, but it also overlaps with the biggest social media trends of 2023.
Although physical businesses won’t disappear anytime soon, contemporary shoppers have more products on their shopping lists for their chosen brands online.
Consumers care about pricing, and brands that reflect their beliefs, and that’s only the beginning. These concerns go beyond variety and convenience.
Consumer behavior is continuously changing, therefore skilled social media marketers and e-commerce managers need to stay on top of the most recent e-commerce trends.
New product launches no longer just happen in physical locations. The digital one is just as vital, if not more so.
Here are the top e-commerce trends for 2023 that you should be aware of:
Your strategy will change because of MIRAKL Ads
The e-commerce trend that few will discuss will undoubtedly be significant for firms adopting it. After all, your business can benefit from the “first mover advantage”!
In April 2023, Mirakl, the platform that transforms well-known companies into marketplaces, will introduce Mirakl Ads.
Customers will always view the most relevant advertisements at the ideal moment thanks to Mirakl Ads’ use of proprietary AI.
Although advertisers won’t necessarily experience more impressions, they should notice an increase in revenue and CTR. Customers will have a better shopping experience as a result of all of this.
Rapid adoption of mobile shopping
Aliza Naiman, manager at Olgam Life believes mobile shopping is more widespread than ever before. She shares: “Using your phone to make purchases is only one aspect of mobile commerce.
It encompasses any purchase activity performed on a mobile browser or app, including interaction with mobile adverts, conversing with sales representatives, exploring brands on a smartphone, etc.
I believe that mobile shopping usage will increase in 2023 because it overlaps with other popular e-commerce features like live stream shopping, augmented reality buying, and in-app purchasing.
Think about your present mobile shopping options, then try out popular commerce tools.
To remain ahead, pay attention to emerging e-commerce product features.”
Shopping that is personalized is favored
Sam Underwood, owner of SEO Toolbelt states: “Consumers in both B2C and B2B markets are looking for customized e-commerce experiences and are more inclined to stick with retail companies that provide them.
Product suggestions, deals and discounts, and a seamless shopping experience across different platforms (website, mobile, and social) are all examples of personalization.
Additionally, it can include providing a range of payment options. Customers may simply leave a website before completing their transaction if their chosen mode of payment is not offered.
Benefits accrue to brands that increase their personalization initiatives.
Retailers who scale extensive personalization capabilities generate on average four times as much revenue as those with less advanced features, according to BCG’s personalization Maturity Index.”
Consumers are concerned about privacy and zero-party data
Some are worried about their data and privacy rights, while other customers want a personalized experience.
Although more customers are aware that e-commerce sites gather data, they are not necessarily aware of the purposes for which it will be used or if it puts them in danger.
The advantages of big data and how it affects personalized shopping experiences are controversial.
Brands are starting to use zero-party data since big corporations like Google intend to stop supporting third-party cookies in 2023.
In an effort to avoid the problems associated with employing third-party cookies, data is collected directly from consumers who have given their approval.
New methods of payment
Rhett Stubbendeck, CEO of LeverageRx believes in adopting new methods of payment.
He shares the following: “The online payments business has changed in 2023 as new and emerging payment choices take off and existing payment methods make way for digital solutions.
Because clients may now make payments more quickly and easily when purchasing online, the e-commerce sector will also change as a result of these new payment choices.
The advent of mobile wallets like Apple Pay, Google Pay, and Samsung Pay, which enable users to save their payment information securely and utilize their smartphones to make purchases, is partly to blame for this.
Additionally, cryptocurrencies like Bitcoin are becoming increasingly well-liked among consumers who desire an alternative payment method for online purchases free from bank costs and governmental restrictions.
The rising use of subscription-based models is another trend in e-commerce payments.
Customers who use subscription services may easily make recurrent purchases of goods without having to manually enter their payment information each time they place an order. This makes it simpler for them to keep track of their spending.
Finally, e-commerce shops wanting to provide individualized consumer experiences are increasingly embracing artificial intelligence-driven personalization technology.
Businesses may customize their services based on client preferences and purchase histories using AI-driven personalization algorithms, which will eventually enhance engagement rates and conversion rates.”
Budget constraints and inflation affect internet spending
Carl Jensen, owner of Compare Banks believes inflation is affecting e-commerce. “Consumer spending will probably continue to be affected by inflation in 2023. Consumers are cautious about their purchases because of constrained budgets.
The two most effective methods for easing their concerns?
Options that are affordable and provide flexible returns.
Do you feel that having an open return policy is harmful to business? Reconsider your position. Yes, returns may be expensive, but customers will still return things whether or not you make it simple for them to do so.
They won’t be discouraged from returning their goods, but they will be discouraged from returning to you if the procedure is rigid or difficult.”
Subscription commerce: Increasing revenue and customer retention
The objective of every organization is to develop long-lasting client connections since acquiring new consumers may be costly and time-consuming.
Subscription commerce will likely grow in importance. With the help of subscription models, online marketplaces and digital vendors are increasing customer loyalty and profitability.
Those numbers are certain to rise with the correct business and fulfillment strategies integrated into a subscription commerce strategy.
Customers will still want ease of use and convenience while buying. Do you have a favorite or often used product or service?
By doing away with manual ordering and delivery, subscription commerce ensures that your purchases are frictionless and available whenever you need them.
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