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The difference between a bottomry bond and a respondentia bond in ancient ocean marine insurance – Part 1

During those days when communication facilities did not exist, ships were heard or seen only on return from the voyage. The Masters of the ship had ultimate responsibilities of the ship.

A ship may require extraordinary expenditures in the course of its voyage. These expenses may be for repairs or just for sailing and maintainance. In order to raise money for these expenses, the master of the ship has to either take a loan on the Ship itself or on the cargo of the ship.There are 2 kinds of bonds availabe :

1.Bottomry Bond : The bond between the lender and borrower(master) where the ship’s bottom(aka the physical structure of ship) is given as security against money lended. Under this agreement, if the ship reaches ashore with no damages then the borrower has to pay fixed premiums every month to payoff the loan taken. But if the ship sinks then the loan is completely weaved off.

2.Respondentia bond : Loan taken against the Cargo of the ship as security.

Well, in todays world of communication, these bonds almost never exist, the master of the ship can obtain funds across the globe with a simple international bank transfer within minimal time.

Good old days!

Renters Insurance Guide – Renters Insurance Simplified

Confused about renters insurance? Here’s a renters insurance guide that will help you understand it.

Renters Insurance Guide

Many people think their landlords insurance will cover them if their possessions are stolen or damaged. Not so. Your landlord’s insurance only covers the building you live in, not your possessions. If you want to protect your possessions you need to get renters insurance.

Renters insurance is one of the least expensive types of insurance, yet it provides invaluable protection for you and your possessions. Renters insurance covers three basic categories:

Personal Property

Personal property coverage pays to replace your possessions if they’re stolen, or damaged by vandalism, fire, smoke, lightning, explosions, windstorms, burst water pipes, or electrical malfunctions.

There are two types of personal property coverages available:

Actual cash value coverage – which pays to replace your personal property minus a deduction for deprecation.

Replacement cost coverage – which pays to replace your personal property with no depreciation deduction.

Standard policies only provide limited coverage for expensive items like jewelry, furs, silver, and collections, so you may need to purchase additional coverage for these items. Standard policies also do not cover damage caused by floods or earthquakes, so if you want coverage for these disasters you’ll need to purchase additional insurance.

Additional Living Expenses

This coverage pays for your living expenses – hotel, motel, and restaurant bills – if your home becomes uninhabitable due to the causes mentioned above. Most insurers will reimburse you for the difference between your additional living expenses and your usual living expenses.

Personal Liability

Personal liability coverage pays for another person’s medical expenses if you, a family member, or your pet injures that person. It also covers damages to that person’s property. Some policies do not cover pets such as as pit bulls or rottweilers.

Standard policies usually come with $100,000 to $300,000 worth of liability coverage, but you can purchase more if you have a lot of assets you want to protect from a lawsuit.

Cheap Renters Insurance

Because renters insurance can vary by hundreds of dollars from one company to the next, the best way to get cheap renters insurance is to visit an insurance comparison website to get quotes from multiple companies.

Visit http://www.LowerRateQuotes.com/renters-insurance.html or click on the following link to get renters insurance quotes from top-rated companies and see how much you can save. You can also get more insurance tips there.

Do I need touring caravan insurance?

Insuring your touring caravan under a specific policy is not a legal requirement in the UK, as most car insurance policies will cover you to tow a trailer on your policy on a third party basis. However, this cover will not extend to repairing any damage caused to your caravan in an accident. Nor will it replace your caravan should it be stolen or damaged by fire. If youve invested your savings in the caravan of your dreams, its a good idea to take out specialist cover should the worst happen.A specialist touring caravan insurance policy provides peace of mind for caravan owners. You should expect benefits such as all risks cover all year round for touring and storage, public liability cover, European cover and emergency accommodation expenses. A lot of policies will also give the option to insure your caravan on a new for old basis where by you will receive a brand new replacement for your caravan should it be stolen or damaged beyond economic repair.There are many insurance companies offering caravan insurance, but their policy benefits vary. It is therefore, important to contact several companies and check with each individual insurer what is included in the cover before taking out a policy. Often, if the premium seems too good to be true, it probably is!

Ensure your Pet is Happy and Healthy With a Veterinary Pet Insurance

A pet offers us unconditional love and affection and in turn we think that just by providing them with meals on time, grooming and a regular bout of exercise, we are offering them a great life. However, not many pet owners plan a budget for their pet each month. Often we form a rough estimate about the kind of expenses that we bear because of our pets and accordingly keep aside that amount. A medical emergency can; therefore, completely take the pet owner by surprise, especially since pet care and treatment is becoming more and more expensive with progress in the veterinary care field. Pets can now be treated for serious diseases which require treatment like a kidney transplant or perhaps a hip replacement, but such treatment is very expensive. In such circumstances a veterinary pet insurance can take care of all your expenses on the pet and allows you to provide the very best care for the beloved animal.

The best reference for a veterinary pet insurance is through your pets vet or through other pet owners who have insured their pet. Also, the yellow pages and the internet are good sources of information through which you could shortlist a pet insurance company providing veterinary pet insurance. The selection of the insurance plan should be done keeping in mind the category, gender, age, breed and health of the pet. The insurance not only provides coverage for regular situations like the disease or illness of a pet but also for accidents. Many unpredictable situations may also be covered under the insurance provided you choose a scheme that has a provision for such unexpected circumstances.

Certain unpredictable situations that may be covered under a veterinary pet insurance are the cost of advertising for a lost pet, damage coverage for loss caused to a third party by your pet and even repayment of any loss that you face, in case your holiday plans are canceled due to the illness of a pet. A pet insurance will also keep you prepared for untoward situation that may arise so that your pet does not have to suffer in any manner due to a lack of funds. It can indeed be a heart breaking experience for any pet owner, if their pet has to suffer or die due to a lack of treatment that could not be afforded by the pet owner.

A veterinary pet insurance can be found for any kind of pet that you own. It may be a dog, cat, fish or rabbit or something exotic like a snake. The only issue is to discover a pet insurance company that is reputed and reliable and offers a variety of plans for every kind of pet. Each category of pet will have a different set of requirement and it is up to the owner to decide what is best for his or her pet, depending on the experience. So whatever may be your requirement, select a pet insurance plan accordingly. The premium that you pay will also be much easier on your pocket rather than if you had to pay for the entire expense on your own.

Car Insurance Discounts That You May Qualify For

Car Insurance Discounts That You May Qualify For:
Many auto insurance companies offer car insurance discounts to individuals or entities who meet a certain condition or conditions. Each company is a bit different, often specializing in one particular area or another, so the availability of discount auto insurance will vary depending on where you live, whether you meet certain eligibility standards, and of course on the particular company that you’re dealing with.

Whenever you’re shopping for a new policy, make sure to ask if there are any auto insurance discounts that you may be eligible for. It costs nothing to ask, and you may be pleasantly surprised. It may even be worth your while to become eligible for some of this discount auto insurance by taking certain actions or joining certain organizations.

Low Cost Car Insurance, or the Cheapest Car Insurance Possible?
Only you can decide how vigorously to pursue the cheapest car insurance rate possible. Your driving history and habits are certainly one of the biggest factors, and something that you largely control, but perhaps by adding safety features, anti theft devices or joining the appropriate organization, you could achieve the cheapest car insurance rate possible for yourself. Even if you are eligible for only one or two discounts, the savings could be worth it. Low cost car insurance is achievable if one pays attention to the various factors involved.

Keeping in mind that our list is not complete, not all of these discounts may be available in your state, and that each insurer usually has different eligibility requirements, the following comprises some of the more common car insurance discounts that are available:

The ‘good driver’ insurance discount:
- This is one of the rewards of not having had an accident or a damaging ticket in a long time. The importance of being a good driver cannot be overstated, as it is one of the most important factors in achieving “low cost car insurance”.

The ‘good student’ car insurance discount:
- If you’re a student with good grades, the assumption is that you’ll also be a conscientious driver, and a somewhat lower risk to insure.

The ‘safe driver course’ insurance discount:
- Taking and passing an accredited driver safety course proves that you’ve invested some extra time in learning how to safely operate a vehicle on the roads. Car insurance companies tend to like this, as it’s perceived as a lower insurance risk for them.

The ‘anti-theft’ car insurance discount:
- Given the cost to the insurance industry of car theft and break ins, installing devices that lessen the possibility of such can lead to lower cost car insurance.

The ‘safe vehicle’ insurance discount:
- Given the cost to the insurance industry of injury and death related to car accidents, it should come as no surprise that the safer your vehicle is, the better the chances of obtaining cheaper car insurance.

The ‘mature driver’ insurance discount:
- Typically, once you’ve reached a certain age, usually 50 or 55, and up to a certain point, you are regarded as a lower risk driver by auto insurance companies. A certain age range may entitle you to a car insurance discount.

The ‘low mileage’ car insurance discount:
- It stands to reason that if your vehicle is not driven very often, then you probably stand a lower risk of a car accident. Consequently, low cost car insurance may be available for you.

The ‘occupation’ auto insurance discount:
- If you hold a certain degree, or work in a certain field, insurance companies sometimes view you as a lower risk driver.

The ‘auto club’ insurance discount:
- Membership in an auto club like AAA, may entitle you to a lower rate.

The ‘association’ car insurance discount:
- Certain associations, like your alma mater may also entitle you to a discount on your auto insurance.

The ‘long-time customer’ discount:
Loyalty and a long-time association with a particular insurance company can have its benefits. Sometimes a company will even overlook a certain negative regarding your driving history if you’ve been a long-time customer.

The ‘multi-vehicle’ insurance discount:
- If you have multiple vehicles to insure, it is usually a good idea to insure them all with the same insurance provider. Generally speaking, an insurance discount would apply.

The ‘multi-line’ auto insurance discount:
- Using the same insurance provider to insure both your home and auto, can also result in insurance savings.

As you can see, it is not so difficult to achieve one or more of the requirements for car insurance discounts, but obviously, one of the main factors is your previous driving record and your car insurance history.

If you want low cost car insurance, or the cheapest car insurance rate possible for your situation, the first and best place to start is with your own driving habits on a daily basis. Pay attention at all times when behind the wheel, and when you are ready to purchase a policy, don’t forget to compare quotes from multiple insurers, and ask about the all of the car insurance discounts that you are eligible for.

Interestingly an insurance company that offers some discounts may not have the overall lowest price. It can’t be said often enough – shop around before you buy. kanetix can help you find cheap car insurance

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The above description/explanation is intended as a guideline only, and is not to be interpreted as a recommendation to buy or sell any insurance products, or to provide legal or financial advice of any kind. Also, Kanetix Ltd. does not warrant or assume any legal liability or responsibility for the accuracy, completeness, or usefulness of any information, apparatus, product, or process disclosed.

Who needs liability insurance? – Part 1

Liability insurance is the insurance coverage that helps if you are sued by someone for “negligence”. What does this translate to? Anytime you are in a position where you could cause any type of injury or loss to another party, you should have liability insurance. Liability insurance is available for automobile owners.

Carrying auto liability insurance is a must for everyone. Any time you get into your car, you run the risk of getting into a car accident. This may sound pessimistic but it is the truth. You may have a perfect driving record and be an extremely cautious driver but that does not mean that you are exempt from a fender bender. Other drivers can create problems for you regardless of how safe you true to be on the road.

In most states, accidents that happen in parking lots are 50/50. This means that you may have been following the rules of the road and slowly driving up the aisles in search of a parking spot very cautiously but when that other car sped out of a parking spot in reverse without seeing that you were more than halfway past it, you are equally responsible for the accident and damage that happens. If you are in the unfortunate circumstance where the driver of the other car claims that the accident was your fault and they are now suffering serious injuries and seek restitution, this is where the liability insurance comes into play.

Another example that all drivers need to carry liability insurance is in the event that your 16 year-old son decides to take the car for a joy ride and forgets to hit the brake instead of the gas at the red light, plowing into very expensive luxury model SUV, the liability insurance will also help you.

Intentional damage or loss caused with an automobile is not covered by auto insurance, however. In the event that someone irritates you and you intentionally run them off of the side of the road, causing them to feel fear and have damage to their car, your insurance liability policy will not cover any damage that occurs. Instead, you become 100% responsible for the amount of restitution the other driver seeks. Anything that is done intentionally in a destructive manner is not covered.

The moral of the story is that liability insurance is needed by all. It is well worth the money, especially when someone is suing you for injuries that they may have suffered during an accident where you were involved or at fault. Research various insurance companies to find the best coverage for the money that you are willing to spend. In different states, carrying liability insurance is required by law as the minimum insurance that you do carry. For new cars or cars that you purchase/lease, you may be required to purchase comprehensive insurance which includes liability coverage.

Business Insurance Coverage

If you are already a business owner then you probably know how difficult and confusing the task of getting business insurance coverage can be. It is fraught with legal complexities and misleading industry terminology at every turnor so it seems. However, regardless of the headaches, business insurance is a necessity.

In fact, you cannot operate a business without appropriate coverage. This means that finding the right business insurance coverage has the potential to make or break your company. What are some essential areas of business insurance coverage and how can understanding what they are help you make more sense of the terms, both industry-oriented and legal?

There are basic ingredients to any sound business insurance policy. It often comes down to the right combination of liability insurance, worker’s compensation insurance, and property insurance. At the same time, you need to remember what is out there or what types of business insurance that you could benefit from having. Don’t sweat it if you feel out of your depth. Many new business owners feel that way at least at one time or another.

Naturally, if your business operates from a building you are going to need some form of property insurance. This type of business insurance provides coverage for loss or damage to the location as well as any of the contents. You can choose between comprehensive property insurance or opt for one of several specialized (but limited) types of property insurance that provide protect in the event there is a fire or flood damage. Property insurance issues the same coverage to the property regardless of whether it is owned, rented, or leased by the owner.

The terms liability and negligence insurances are often used interchangeable because the latter term better describes the type of coverage provided by business liability insurance. Essentially, this form of insurance protects your business if it becomes involved in civil or legal case, particularly those cases that involve a business issue or an employee injury or grievance.

Businesses that use commercial vehicles are required to provide commercial auto insurance coverage. This type of coverage is only for vehicles owned and operated for business purposes. Essential protections of commercial auto insurance damage to property done by vehicles and damage inflicted upon the vehicles.

One of the more important types of business insurance is worker’s compensation insurance. This form of insurance is used to provide coverage for employees who suffer on the job injuries. It is a mandatory insurance dictated by state law, but each state has different provisions for its worker’s compensation policies. This business insurance also affords protections to the employer as well against being directly sued by the employee for an injury. Instead, the business contributes to a fund that distributes payments to injured workers who are unable to perform their duties or are hospitalized to cover lost wages and deal with expenses.

In the event the owner or CEO of a company suffers severe injury or death, a form of business insurance called life and liability insurance kicks in to protect the company and the other employees so that the operations will continue regardless.

Again, these were just the major forms of business insurance that are used regularly by almost every business in the country. There are nuances and different provisions for each of these types of insurance types, but on the whole, they are basically the same.

Manchester Solicitors and Other Professional Services

Business in Manchester is growing constantly and more then ever before, despite the current economic climate. There has been investment from national and international companies alike entering into the region coupled with a booming and confident entrepreneurial and enterprising culture from local Manchester companies and start ups.

There has been significant investment and business transacted in Manchester over the last five years from all these channels leading to a major rise in professional services. This has been exemplified visually for all to see with focussed developments and bases for professional companies including Spinningfields off Deansgate and modern commercial property projects in Manchester.

The number and diversity of professionals has led networking in Manchester to become a key activity, with many networking events and local business networking groups forming such as BNI North West. Online resources have emerged to provide interactive directories and online networking to help identify suitable Manchester professionals.

There are now over 8,000 accountants in Manchester, when including both chartered accountants and management accountants. All the big four accountancy firms now operate in Manchester, KPMG, PricewaterHouseCoopers, Ernst and Young, Deloitte all have set up significant regional headquarters or offices in Manchester.

The legal faction has also evolved fast rate with over 2,000 solicitors in Manchester. Some local home grown solicitors in Manchester now achieve national acclaim; Pannone and Cobbetts being fine examples. Many Manchester solicitors now have extensive North West operations with four or five offices, for example Eversheds and Halliwells.

Services for Manchester accountants and Manchester Solicitors have probably risen due to the level of larger North West and Manchester firms floating on the stock market and a greater amount of management buyouts and acquisitive moods of Manchester companies that look to continuously take over firms to consolidate or diversify into market sectors. The result of this is a greater demand for corporate finance, legal advice, management restructuring and private equity to enables these processes, all requiring experienced and expert advisors from both accountancy and legal sectors.

For accountants, larger workforces demanded more in depth payroll systems and management accounts. For solicitors, company and commercial law and employment law departments grew as services increased. With the recent relocation of the BBC and media houses arriving in Manchester, the need for IT and media law also heightened.

Indeed, it is not just traditional professional sectors that have grown, but creative and media sectors in Manchester; even without the BBC. There have been rafts of advertising agencies, marketing and public relations agencies that have opened their doors. Communications in Manchester have become vital for professional service and commercial outfits to convey their intent and offerings in Manchester, spurring more sophisticated and multi channel marketing campaigns. Advertising and media have become respected and recognised professional services in Manchester in their own right.

Returning to traditional professional services, the banking sector in Manchester has simultaneously risen because of company takeovers and restructures too, with particular emphasis on Investment Banking. The number of business bank managers in Manchester has grown dramatically, with managers offering services for SMEs and corporate outfits. Investment advisers and Financial Advisers in Manchester have also boomed with advisors offering solutions to maximise companies efficiencies in tax, profit sharing, directorships and share options. They provided financial advice and stockbrokers services for directors and business owners personal wealth management such as inheritance tax, tax planning and personal investments.

Busy commercial activity always calls for the services of insurance brokers. There are many commercial insurance companies in Manchester now ranging from local insurance brokers through to branches of national insurance brokers including Hiscox. Professional indemnity insurance has naturally become critical given the number of professionals serving clients in Manchester now. Employer liability insurance, contents and health insurance plans have become more standard practice. One growth sector in particular is risk management for business continuity. Insurance brokers often provide directors with high net worth insurance for personal reasons also.

The new office openings of the professional service companies boosted the commercial property arena in Manchester. New office space, industrial and retail outlets have all opened exponentially in recent years, in locations across Deansgate, Piccadilly, Ancoats and historical business streets including Portland Street and Princess Street. Commercial estate agents in Manchester have expanded their sales force and national agencies including Knight Frank and King Sturge have joined in.

Skilled architecture was required to design new modern offices and commercial property space, opening up good opportunities for local Manchester architects, such as Ian Simpson through to nationals including BDF, to engage in ambitious projects.

Quantity and chartered surveyors have become major professional forces, with certain property firms offering all round property consultancy services. As the number of business executives expanded in Manchester, the property firms noted a need for more city centre apartments and developments continued only until recently when the residential market stagnated. Property in Manchester was one of the hardest to be hit with the over supply of city centre apartments due to the developers over optimism.

Workforces of companies and professional services in Manchester must have risen steadily and impressively for the last ten years and only deterred currently by the harsh economic environment.

This opened up another weighted professional sector in recruitment and employment. There are now similar numbers of recruitment consultants and recruitment agencies as there are solicitors and accountants. Sector specific recruitment consultants have emerged, that target just accountants or solicitors or finance professionals. Others solely cater for executive recruitment or IT sales recruitment and focus purely on headhunting services for the right position.

Consultancy services as a whole are now vital institutes in Manchester. These range from personnel related such as human resource (HR) consultants and training providers through to management consultants that concentrate on performance management, organisational behaviour and leadership management. Business consultants provide valuable duties of looking at companies strategy and forming new plans, again sometimes for specific sectors. The institute of Business Consulting now has over 1300 member across the North West.

IT is now integrated in virtually every Manchester business, making it just as important as legal or accountancy services in some respects. Subsequently IT consultants and IT support are now high in demand, whether it is for permanent or remote support.

The credit crunch may have arrived, but given the robustness of many of these professional firms in Manchester and the concentration of business activity and key national players that have bases in the region; the service industry will not be moving far. The rise of traditional industries and emergence of new professional services in Manchester has created a wider market now that can serve and feed from each other. The abundance of advisors also, will now continually attract start ups, SMEs and corporate business to the city as a range of support services are readily available to choose between. There will always likely to be a professional service available in Manchester specialising in a required field to match a businesses specific demand.

Business Insurance Basics And The 5 Cash In Your Pocket Ways To Save On Your Next Policy

All insurance companies exist for one reason. They are in business to make a profit. The way they do this is simple. We, the customers with insurance policies, pay a premium for the peace of mind that if something bad should ever happen, the insurance company will compensate us for the losses and we won’t loose the items were insuring. If the insurance company pays out less for claims than it brings in from all the current policies it makes what’s called an underwriters profit.

So obviously ‘business insurance’ is a policy which is intended to serve the needs of a business rather than the needs of an individual. In general this type of policy protects a business from monetary losses due to just about any type of catastrophe you can imagine, fire, theft, vandalism and even business loss insurance can protect a business should they have a bad quarter or lose money for a short period of time. Business insurance can also help stabilize your business by establishing better credit relations and provide a retirement plan for your employees.

Needs of Business Insurance:

Whether it is a small enterprise or a large corporation, the success of a business always depends largely on the hard work and ingenuity of its employees. Yet, a single disaster can eliminate all the profits, wipe out a business and leave many hard working employees on the street. The only key to make sure that all the money and effort that have been invested in a business is completely secure in case of any tragedy to the business is to protect the business with an appropriate insurance policy.

There are mainly five ways to save big bucks on a business insurance policy and they are as follows:

1. Shop around: Now a days it is very easy in getting the names of companies or brokers who specialize in business insurance and comparing prices online before purchasing, this alone can save you truck loads off your monthly premiums over the next few years.

2. Choosing a higher deductible: By choosing a higher deductible you the customer pay less for the policy. As an additional side note here, this also works for home and auto insurance and can save you thousands over the next few years as long as you know that if you need to make a claim it will be a higher fee.

3. Purchasing a package policy: It is sometimes cheaper to purchase a package policy rather than individual coverage and this can be ideal for small and medium sized businesses.

4. Work closely with the insurance agent: By working closely with your insurance agent you’ll get valuable advice to protect your business from unexpected disasters.

5. Follow the Insurer’s recommendations: By following your insurer’s recommendations and guidelines you will be able to reduce your premiums. Basically this is because the insurer thinks you are less likely to make a claim.

Benefits of Business Insurance:

Not usually manditory, most businesses have a certain kind of insurance whether they are a for-profit or nonprofit company. That is why business insurance is very essential for every companies as business risks increase year by year. It is very necessary to know what insurance to purchase depending on the nature of your business. If there are lots of assets in your business then the theft and property damage insurance should be considered as well.

Countless hours from talented staff are spent in developing your business. Therefore it is very important to plan to secure your business from a lawsuit, natural disaster strike or some other crisis. And thus we find the actual need of business insurance.

What Is The Best Boat Insurance Company? – Part 1

There is no right answer when someone asks which boat insurance company is the best. There are so many choices available that it is hard to determine the very best. It really all depends on what the specific needs of the person wanting to insure the boat are.

BoatU.S. has been insuring boats, and only boats, since they opened in the late 1960s. They are said to offer some of the lowest rates and best coverage depending on the craft covered. Their web site offers free instant quotes.

Progressive Boat, a division of Progressive Auto is one of the cheaper boat insurance companies but they are said to not offer nearly as many services and less comprehensive coverage. They do offer free online instant quotes and their staff is said to be one of the most knowledgeable and friendly groups in the business.

To determine the best boat insurance for you then go to a site that offers multiple quotes from several different insurance companies. This will provide you with the best basic information about several companies at the same time which will save you time versus calling all the individual insurance companies.

Mansi Aggarwal recommends that you visit best boat insurance company.