The Basics of Tradesman Insurance

You may have hired the services of many workers, but you have to believe that gardeners, carpenters and builders are on the list of the most diligent workers. However, the problem for these workers is that they are prone to several risks. For instance, they may lose their tools or they may get involved in an accident while working at a site. Let’s know more about the tradesman insurance.

Tradesman Insurance

As said earlier, tradesmen’s job involves the risk of accidents. An average office worker may not be prone to as many risks as a tradesman. Actually, tradesmen make use of dangerous tools. That is the reason they are more likely to get injured than other people. The majority of tradesmen is usually self-employed. So, replacing a damaged or lost equipment is very hard for them. They may lose a lot of potential income if they don’t get a replacement for their lost or damaged tool. Fortunately, they have a ray of hope in the form of the tradesman insurance. This type of insurance is provided especially for these people.

If you have no idea what this insurance is, you can go ahead and read through this article. Tradesman insurance offers the following coverage:

Public liability coverage

This type of coverage offers coverage against legal expenses that may incur because of the claims of a property damage or injury to a worker.

Personal accident coverage

Personal accident coverage will provide coverage in case of an injured staff member at the workplace.

Damage to someone else’s property

This type of coverage helps you to pay for the expenses that occur when the workers cause damage to the property of a client.

Contractual works

This type of cover insures the construction works of the tradesman, including materials, especially if they get damaged or stolen. Aside from this, it can reimburse the heavy expenses related to extra costs of labor needed in order to rebuild the things that were completed earlier. For instance, this can offer coverage if a storm causes a damage to a building that is being built by a contractor.

Tools and equipment

The tools and equipment insurance offers coverage to the policyholder in case of the costs that occur in case of a repair or theft of a tool or piece of equipment.

Commercial Vehicle Coverage

This type of coverage protects you against the cost of upkeep of a vehicle of van that you use for business. Aside from this, it can cover for the rental cost of a vehicle. You can also buy other optional features or covers. For instance, with efficacy coverage, you can reimburse the litigation expenses if you are held liable for the installation of a faulty security alarm.

You can also buy tax investigation coverage if your business is being investigated for reasons related to tax. It will provide coverage against the loss of income during the investigation.

The Takeaway

So, if you are a tradesman, we suggest that you give a go to the tradesman coverage. Hope this helps.

Have you been looking for the tradesman insurance? If so, we suggest that you check out Compare Tradesman Insurance for quotes.

Know the Several Types of Insurance

All of us are well accustomed to the term “insurance”. The term stands for insuring or giving cover to an individual or a group for a specific purpose. On the basis of the function, an insurance policy can be classified into several types. Let us study the types to get a detailed knowledge of the policies.

Home Insurance- our home protects us round the year, but it also needs protection against the rude side of nature. Home insurance can protect your residence from both natural disasters and man-made accidents. They offer a compensatory price for damage to property and life in the home.

Health Insurance- If you are taking a health insurance then that is going to give cover to you and your family. This can be on the basis of the type the health insurance is. This gives one the ability to fight sudden medical emergencies owing to hospital bills, medical expenses, specialist charges, etc.

Personal Accident Insurance- This kind of cover is recommended to one to cope with accidental deaths. Life insurance already covers this part. But when a person gets disabled and losses his or her earning capacity either partially or totally, then the personal accident insurance can be helpful.

Motor Insurance- This protects one against vehicle damage and third party cases of accidents. You would have a mutual contract with the insuring company that on payment of a certain amount as premium, the company will pay you a certain amount if any accidents occur. This type of insurance offers medical coverage, liability and property damages. The property damage covers the theft or damage of the car and the liability coverage maintains the legal aspects in terms of property damage and bodily injuries.

Travel Insurance- As the name suggests the policies gives cover while one is on a trip. So, when you are on the trip all your worries will be taken care of by the insurance from sudden medical expenses to loss of passport, baggage, delay of flight, etc. You can have a safe and trouble-free journey with them.

Commercial Insurance- In a company there are several needs of insurance policies. Most companies have several policies that are specifically designed to protect the assets, vehicles, machines, business, employees and other unseen losses. These policies help them to fulfill the immediate requirements.

WhatsApp, iMessage, and Snapchat Attacked Because of Their Encryption

You can not realistically ban encryption. Encryption is used to protect communication through electronic devices; it protects your bank information and online accounts. This is cryptography, it is used in hundreds of systems. We have politicians speaking about banning these technologies. How can this be? British Prime minister David Cameron has raised a red flag on encrypted messaging apps like WhatsApp, iMessage, and Snapchat. He has called for the banning of these apps; implying that they are being used by criminal organizations and terrorists to communicate.

“In our country, do we want to allow a means of communication between people which we cannot read?”, rhetorically said by the Prime Minister

With this sort of logic I am going to go as far as to say; we should leave our houses and cars unlocked; and valuables left unguarded in public spaces because surely it would be much simpler to catch thieves and put them in prison.

Security is not just for what the social norm calls the “good guys”. It is a two way street. I would rather have peace of mind that my data is being protected so well; to the point that Government officials can not tap into it. Think about the various ways this could go wrong. Imagine corrupt politicians with access to data or just consider that lightening up on security measures, will make it easier for the average hacker to gain access.

Computer scientists have spoken out on the futility of weakening encryption; so only Government officials have access.This same weaknesses can be exploited by malicious hackers. This view is held by many computer experts actively in the field.

A few months back a ban was called on WhatsApp in the UK; it has recently been dropped because of mass criticism. But this can of worms has not been closed just yet. This has just pushed the issue to other parts of the world; where they can theoretically gain some traction and spread. India has a ban on certain types of encryption. WhatsApp uses end to end encryption; which is illegal in India. WhatsApp uses a 256bit encryption which is only known by the sender and the receiver. India only allows 40bit encryption if you want to have permission you need to apply through the Government. The Indian Government has asked for the keys to be able to gain access; but WhatsApp creators have said they do not have them. So all user using the latest version of WhatsApp in India are technically breaking the law. No actions have been decided on what to do with the company; they are not based in India making things complicated. Recently Brazilian authorities have been reported to have been reported to be collecting WhatsApp data with the hopes of fighting drug tracking. WhatsApp has been cooperating with law enforcement; but have gone on to say that they cannot provide the full extent of what they want. We are just uncovering what’s on the surface; do some research on what your local Government and even internet service providers are doing; and what data they are doing with this data.

The Importance of Hiring a Property Management Company

In this age of independence and mindset that one can manage on his own, it is inevitable that a property owner would think he will do fine on his own. Sure, you got tenants who at first, pay on time until gradually they won’t, some will breach the contract and lease terms, then they cause problems with the neighbors and other tenants, then slowly you will notice you are losing money and when you decide to evict the tenant, next thing you know, you have a lawsuit at your doorstep.

The reality is if you use the services of a professional property management company, not only do you have peace of mind, your investment is protected and the consistent cash flow you receive through rent can assist you to buy additional investment properties.

This is why you need the assistance of a property management company, but before that, we will determine the pointers on why it is important to hire one.

Determining the Worth of Your Property

The problem with inexperienced owners is that sometimes they get overwhelmed on how they price their property to the market: oversell and you have to deal with the high vacancy rate with no profit, undersell and you will realize you are slowly losing profit. This is where a property management company comes in, they will help you determine a balanced meal where you gain tenants and continue to rake in profit.

A property management company is also well-versed in marketing your property and placing ads where it will attract tenants. They will answer any inquiry and they know what entices a prospective tenant, therefore will help you point out some cosmetic improvements so that the tenants will feel that renting your property is worthy of their money.

Avoiding Major Problems with Tenants

Screening tenants would not be one of your problems anymore because the property management company will take care of it. They know too well how to check the background of the interested tenants, their criminal records, their relationship with previous property owners and if they have ever caused problems before. Think of it as helping you weed out the bad ones for a healthy and bountiful crop.

Collecting rents is the most common problem in renting out your property. When left to your own devices, having your tenants pay you on time will become a child’s play of hiding and seek between them and you as the property owner, certainly some tenants will tug at your heartstrings and gain your sympathy with the hope that you will let them get away with it. A property management company, however, will become the middleman who will ensure that the tenants abide by the lease terms and should understand that they are just doing their job for you, keeping your cash flow consistent.

Maintenance

When a tenant has reached the end of the contract, the grueling process of turnover will usually keep you busy as a property owner, but with a property management company by your side, that is another pile of stress that will be taken care of. Any deductions from the security deposit will be made and returned to the tenant, and the restoration process of repairing any damages, repainting, changing locks and cleaning the property would be done without getting your own hands dirty.

As a property management company, expect that they know the right people to contact should there be any problems with leaks, wiring, and plumbing experienced by the tenants and their dilemmas will be addressed promptly.

Saving Time and Money

A successful businessman knows that delegating tasks is key for a successful business so that one can have more time to deal with other business ventures. With almost everything being taken care of, it seems like the only thing left to do is to visit your property at a certain time interval and continue to rake in profit while having more time to spend it with your family, social life, other priorities, and investments.

IN CONCLUSION

Hiring a property management company takes care of the burden for you, especially if you are well aware that marketing, confronting tenants with late payments and handling maintenance are not your strongest points especially if managing your property is not the only priority you have in your busy life. Therefore delegating this task to a reliable property management company may just be one of the best decisions you have ever made.