About To Take Up a Trade? Check That You Have The Right Insurance

If you have finished all of your training and are about to step into the career path of a tradesmen, or perhaps just want to start learning a new trade, you may need to consider whether or not you have the right insurance to cover you if there are any potential accidents. Don’t take a risk and instead keep yourself out of harm’s way by finding the best insurance for you and your work.

Tradesman Insurance

If you are looking for the perfect insurance to suit your trade, you need to be able to find a no obligation insurance quote comparison for tradesmen, which will allow you to personalise your insurance so that it fully fits any vulnerabilities in your business model. When it comes to your work, your clients expect a high a standard, whether that is fixing or building parts of their home or even just working on a public community project.

However, what they underestimate is how hazardous working in this field truly is. With over 64,000 non-fatal injuries happening to trade workers each year in the UK, your policy must be tailored to suit your own needs. So be sure to go online to compare different quotes from your intended insurers. When you find one you approve of, then be sure to barter with them to see if you can gain more benefits or a cheaper cost. If you have a proven track record of keeping safe whilst on a job, then your insurer may choose to lower your insurance cost even further.

Liability Insurance Types

Whether you are a sole tradesman or work under a company, if you want to make sure that you are fully covered by your insurance, you should be looking into these three types of liability cover:

• Public Liability Insurance

This insurance is extremely useful if you are looking to protect your business from any potential claims that arise from accidental injuries that occur to a customer, or if a member of the public is in a future accident in connection with the work you undertook. Whether this is simply by slipping over your equipment or through a maintenance malfunction, this insurance can make sure that any claims against you can be taken care of without causing you a financial problem for you and your company.

• Employers’ Liability Insurance

This insurance is a legal requirement for any tradesman, due to UK law, and if you do not get it after you have started employing any additional tradesmen in your team, then you could be fined up to £2500 pounds per day. Employers Liability Insurance will protect you against any claims from your employees if they become injured or fall ill due to work. This can be onsite or off site, and even from your former employees.

• Professional Indemnity Insurance

Professional Liability Insurance will cover your business just in case your clients accuse you of damage or incorrect advice that has caused them to lose their money whilst investing in a new project. No matter what sort of accident happens, you should also keep an Accident Book to ensure that the same mistake.

Keeping Your Calm: 8 Key Principles to Keep in Mind When Dealing with Creditors

It happens to most consumers sooner or later. You fall behind in your credit card payments, You use one credit card to pay another card’s payment. Then, things start to snowball.

If you find yourself hitting the wall, you need to understand the position you’re facing. As Huffington Post says, “As a consumer, the most important thing you can do is to try to understand the debt collection process and know your rights.”

Check these 8 key principles in dealing with creditors:

  1. Keep track: It’s smart to keep a diary of all your interactions with the creditor. You should save emails and take notes on phone conversations. That includes the names of the contacts and numbers assigned to claims.
  2. Need to know: You have a right to know everything there is to know about your account. You can’t negotiate or discuss the collection issue if you don’t understand the starting point. A debt can be complicated with accumulating late fees and interest rates, you should know what’s at issue. You have the right to question the collector and request clarification of any term or process.
  3. Get it in writing: If you agree to anything, you have a right to see it in print. If you are working this out on the phone, you can request an email version before you sign anything. The collectors usually have standardized forms so you can insist they customize your forms to your name and deal.
  4. Take the lead: If your delinquency has reached the collection agency stage, you might take the lead in the negotiation. The collector wants a one-time, lump-sum payment. They are getting commissions on the amount collected so they will go for your gold. But, you can undercut them by offering 50 percent of the lump sum. Any creditor would rather agree to a repayment plan.
  5. Talk to the creditor: A collection agency will tell you to communicate with them only. However, you can still deal directly with the credit card company. They may be open to deals for compassionate reasons and hardship cases. They will come to solutions to reduce their obligation to their own collection agency.
  6. Stop the calls: Collectors must call after 8:00 am and before 9:00 pm. But, you also have the right to tell them to stop the calls altogether. So, it helps if you accept the calls sooner than later.
  7. Keep your cool: You should expect respect from creditors. But, they may respond in kind if you lose your temper. You should avoid the melodrama on your end, but if they are confrontational and angry, you can report them.
  8. Demand confidentiality: Collectors are prohibited from discussing your debt with your spouse, friends, and employer. They do have a right to order a garnishment on your incomes, but it takes a long process to reach that stage. Creditors prefer not to go that route because of the cost to them.

Getting out of trouble

You can start to get out of debt with an honest assessment of your problems. If you have maxed out a credit card or can’t meet the minimum monthly payment, you are in credit trouble.

These are signs it’s time to prioritize. The Houston Chronicle suggests taking inventory, “First, make a list of every debt you have, along with the interest rate and minimum payment. Then, list your income and expenses for each month to assess financial obligations.”

But, if you find you’re still over your head, it’s time to get professional help.

What To Do If An Unexpected Cost Arises

It’s great when you have your finances sorted, and you feel like you’re really getting somewhere with your money. No worries, no debt and… wait a second, is that an unexpected cost on the horizon? There is nothing more annoying than a roadblock stopping you dead in your tracks, but sometimes there is simply nothing that you can do about it. We’ve put together a guide on what to do if this happens to you, so that it doesn’t keep your finances down for too long. Sometimes, these things just happen. But they can be solved. Phew.

Use your savings, if you have some

If you’ve managed to accrue some savings, then now is probably the time to use them. Yes, it is annoying, especially if you’re saving up for the house of your dreams or that perfect vacation that you’ve been wanting to go on for some time. But the reason that you have this money is to cover things like unexpected costs; without it you’d really be in the dark. You can always save up again for that vacation, and put it back a few months from the date that you originally planned for. If you can’t avoid this payment that you just have to make right now, then prioritize it. You’ll still be able to go to Disneyland one day…

Look to tailored companies for help

If savings aren’t really your jam, then don’t worry. There are plenty of companies out there that can help you with your unexpected issues, and many of these are tailored to the situation that you’re in. For example, Charlotte Bail Bonds, LLC, can help you if you need emergency bail money for a family member, and you can pay this back in installments. This is the same for many situations, whether it is a big bill, a problem with your house or car, or something outlandish that you simply didn’t see coming. Look out for a company that won’t charge you an excessive amount of interest, and will let you pay the money back gradually.

Ask friends and family

If you don’t have a good credit score, or you simply want to avoid borrowing from a company that you don’t think you can pay back on time, then asking your friends and family for some financial assistance may be an option. The important thing to remember here is that you don’t want them to feel obliged to give you the money, and you also want them to know that you will actually pay them back. You can do this by drawing up an official agreement, so that you have something in writing to put their mind at rest. You can find templates for this kind of stuff online if you don’t want to pay out for a solicitor.

Get a loan from the bank

This is the most commonplace way to pay for your unexpected costs, and if your credit score is good then you’ll probably be able to secure a loan from the bank without too much stress. Make sure you look into all of the costs for this: what is the interest rate? When will you have to pay it back? What happens if you can’t pay it back on time? These are all questions that you must have the answers to, so don’t just sign up for some quick money without thinking of the repercussions of this. Research, research, and research again. If you need more help, go into the bank and ask to speak to someone, and compare a few banks on what they offer.

Fight the cost

Before you agree to hand over any cash, check that what is being asked of you is actually correct. If your gas or water company calls you and tells you that you have to pay them a wad of cash immediately, question it. They may have made a mistake, and it could be a tough battle to reclaim what you have paid them. Companies are sometimes in the wrong, so don’t be intimidated into paying just because you presume that they’re right. Ask for details, letters, and always keep email correspondence, as it can be easily traced if any issues arise in the future. Don’t pay for something that you don’t have to!

Get a credit card

Getting a credit card is a difficult call to make if you don’t want to accumulate debt, but one which you may just have to go with. 78% of Americans have a credit card, and there are plenty of choices out there that don’t come with the high interest rates you’d anticipate. Again, research is key here, and remember that whatever you choose may have an impact on your credit score. Speak to somebody and see what the deal is before you sign up, and make sure to ask about the future repercussions of using your credit card for big amounts of money. Choose wisely, and look into all of your options before you take the plunge.

Get a loan from an independent company

If your credit score isn’t the best, you can also get a loan from an independent company, although beware of the high interest rates. These companies are more likely to be hiding something sinister in their terms and conditions, so make sure that you look into every last detail. We’d recommend this as a final resort, as you may end up spiralling into further financial worries because of the costs associated with this. However, if you have to do it, just be wary of what you’re really signing up for when you request the cash.

So, there are many ways to deal with an unexpected cost, if you find that one arises. Whatever you choose to do, the real priority that you should have is to research into all of the details of it, and don’t leave yourself with even more financial issues than you began with. However, if you’re careful, you’ll solve your problem in no time. Good luck!