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If you are a classic car enthusiast, owning your car can be a dream come true. Once you’ve scoured the market for a car and found the one that you’re ready to bring home, its time to think about value and insurance. What do you know about classic car valuation? If you’re new to classic cars, there are a few things that you need to know.
The authenticity of the Vehicle
Authenticity is important when it comes to classic cars. If you can find a classic car that still has an authentic paint job and the authentic parts to go with it, then you are going to have a higher value vehicle. A lot of classics have new replacement parts. While this can help the vehicle run better, it can lower the value.
Problems With the Vehicle
Classic cars require a lot of maintenance to keep running. You should not put the same wear and tear on the classic car that you do on your everyday vehicle. Most classic car insurance policies require you to only drive your car for a certain number of days or month throughout the year.
When it comes to classic cars, you need to be aware of the factors that can increase or decrease the value. To protect any investment you have, insurance is always the best option too.
As companies find it difficult to attract and retain top talent, many are making sure their benefit programs are competitive. Often overlooked, disability insurance is an income protection benefit that will bring value both to the company and to its employees.
Who Can Offer Group Disability Insurance?
Businesses with 10 or more employees can offer a group disability policy. These types of policies are flexible and allow the company to design a plan that meets their budget. Employers can also define whether the plan is paid by the employee, employer, or some combination of the two.
With a group policy, buying power is leveraged so the plan can offer lower premiums than if an individual sought a disability policy on their own. It makes these plans very affordable and attractive to both employees and employers alike.
What Does Group Disability Insurance Cover?
There are two types short term disability (STD) and long term disability (LTD). If an employee is disabled due to illness or injury, depending on the plan, STD provides between 40-60% of the employees base wages for up to a year. LTD provides a disabled worker up to 70% of their income for a specified duration of 5-10 years or through retirement age, depending on the plan.
The ability to generate income is a persons greatest asset. Disability insurance is a great way for the employer and employee to protect that investment.
Running a small business brings many challenges. One of them is limiting your small business liability and exposure to risks. Use proven strategies to limit that exposure as you successfully manage your business.
1. Always Follow Laws and Regulations
Educate yourself about any rules that apply to y our business and industry and then work to stay within their scope. From HR decisions to tax responsibilities, if you follow the rules you will stay in the clear.
2. Stay Within Your Scope of Expertise
Do not offer services or advice that are beyond what you are qualified to do. This presents a major risk, especially if someone is harmed by following your advice. Legal and medical professionals are particularly at risk in this area, but they are not alone.
3. Keep Accurate Records
Documentation is important if you want to prove your side of an argument. It can also help you get a better understanding of what is going on inside business operations. Keep records for the required length of time. Digitize them to make storage and retrieval easier.
4. Transfer Risk to Insurance Providers
Research into small business liability shows that the right insurance coverage can transfer risk to the policy provider. Talk to an experienced agent to find out what types of coverage will mitigate your business risk.
Dont let the challenges of running a business put you at risk. Take proven steps to manage it effectively and control losses.