Insurance

In a challenging economy where businesses and people alike value their assets even more, starting a home inventory business opportunity might just be a business that can flourish in these times.

What is a home inventory business? This business consists of a home inventory business specialist and takes, well, inventory of all the high-priced goods for the purposes of insurance. For your home, they might look at your high definition television, computes, gold rings, furniture or expensive paintings or sculptures.

This Can Be Done On A Full Time Or Part Time Basis

Not only will they record and inventory your items, but they will also give an appraisal to what it is worth. This can be very valuable if, God forbid, a disaster like a fire or flood happens and destroys your personal belongings especially if you live in a state where natural disasters happen seasonally like hurricanes, tornadoes, earthquakes or floods.

For businesses, a disaster like this could make the difference from recovering back to the business it once was, or losing everything that may not have been listed or that may not have been appraised.

In order to go into the home inventory business, you'll need to apply for a regular business license and possibly a certification from an insurance company. This most likely will involve a State test on ethics and questions about how to appraise and assess value of property. Since this occupation may be new for most States, be aware that regulations and requirements change at a fast pace.

Also, there are many courses available for you to take so that you can start one of the hot home inventory businesses. You can find them at your local colleges, community colleges, and online. There are also correspondence courses available. The courses are neither expensive nor difficult.

You may also want to check the State Insurance Commission and your local community or state colleges for courses and curriculum on the home inventory business opportunity. Some courses may even be online which should benefit those who are restricted by distance. Most of these courses are based more on common-sense and should be easily picked up after reading and studying course materials.

Here are some other questions you need to ask yourself to insure that this opportunity is a good fit for your personality and what you like to do:

1. Are you comfortable driving around town, mostly using your own car and going into people's place of business or residency

2. What are the legalities in starting a business and do you need to have a business entity.

3. What about your tax obligations.

4. Can you afford to quit the security of your full time job or do you prefer to try this part time. Many clients may require you to be available at their convenience not yours.

5. Can this be started from a home office or do you need a office away from your home.

6. Outside of paying for your courses, will there be more money to shell out once you get started.

7. How will you market your business? Online, Offline or both?

After answering these questions and more, you'll have a good start to having a successful home inventory business.What is a home inventory business?

Way back in 1971, C.P. Snow wrote about technology in the New York Times. He said, "Technology... is a queer thing. It brings you great gifts with one hand, and it stabs you in the back with the other."

Many dealers are voicing that sentiment these days. Far too few have done anything about it. Some have learned to use computer software with skill. They use the apps on iPhones, iPads, and Blackberries. They have created an effective Web site. They use Facebook and Twitter and LinkedIn for social networking. For others, these are merely words and technologies that test their ability to conduct both business and their private lives. Dealers, already feeling the brunt of the two-plus year recession and massive changes in the car industry, are becoming increasingly concerned about their ability to not only keep up, but to even remain in the playing field.

Why should dealers bother with such things? Isn't the old way good enough? Nope!

Customers who always shopped on the lot are now shopping on the Internet before they take a step toward a dealership. They've researched every model in their price range and with the features they want. They've read a dozen articles about how to get the best deal. They've become more savvy than many sales people hired by dealerships; they know their credit score; they know where they can find the best price on insurance, window tinting, undercoating, you name it. Everything once sold to them by a finance officer from the menu is for sale on the Internet.

Are you one of the dealerships where handwringing has become a daily pastime? Have you taken a close look at your bottom line? Have you noticed what would happen to your finance portfolio if you removed your sub-vent rated and nonprime customers? Have the numbers of your prime-financing customers dwindled to an all-time low? Perhaps you haven't seen the drop in your captive financing yet, but beware, it's coming just as surely as the first snowstorm.

Snow was right, back in 1971! The Internet can either become a beacon for drawing in more satisfied customers to your dealership and vastly increase your bottom line, or it can stab you in the back. It can be your best friend or your worst enemy. How?

Statistics show that 80% of car customers go online before they make the decision to buy and before they come to your dealership. What are they researching? Brands, models, features and, most of all, prices. Most of all, prices. The majority of Americans in today's economy are deeply concerned about their budget. They have a fixed amount to spend on a car payment and all the other expenses involved in owning it. The vehicle they choose must fit within that fixed figure. They cannot afford to buy on whim or to make a careless mistake. They won't take the chance of being bamboozled into buying things they don't want, don't need, and can't afford by a fast-talking sales or finance manger

Where do these savvy customers get their information? One of their first sources is Edmunds, the friendly consumer-shopping guide. Edmunds has never been and still isn't the dealer's friend. Edmunds does whatever is necessary to achieve the sale on vehicles and products from the Internet shopper... and then refers these buyer to specific retailers to obtain a fee! Banks. Finance companies. Insurance companies. You name it.

Don't let them get a strangle hold on your customers! If you haven't already checked this article on Edmunds.com, perhaps you should do so right now!

Confessions of an Auto Finance Manager In the Back Rooms of America's Car Dealerships By Philip Reed, Senior Consumer Advice Editor and Nick James

Introduction

"Congratulations, you're getting a great deal!" the car salesman says, pumping your hand. "Let's sign the paperwork and you'll be on your way in your new car!"

At first you're relieved - the negotiating is over. But then the salesman walks you down a back hallway to a stark, cramped office with "Finance and Insurance" on the door. Inside, a man in a suit sits behind the desk. He greets you with a faint smile on his face. An hour later you walk out in a daze: The whole deal was reworked, your monthly payment soared and you bought products you didn't really want.

What happened to your great deal?

You just got hit by the "F&I Man," also called the finance officer. He waits in the back of every dealership for unsuspecting customers so he can increase the profit for the dealership and boost his commission.

In this four-part series, written by veteran auto finance manager Nick James, you will learn the F&I man's tricks and how to avoid them. When you're done, you'll be ready to safely navigate this crucial part of the car buying process, and the F&I man will never work his "magic" on you again.

- The Editors at Edmunds.com

Are you still ushering your customers into the office of your "F&I Man"? No? You have a Web site? You update it once a month? You have a tech-savvy employee who checks your e-mail messages every morning? BUT... how would you answer these questions?

When your potential customers come to your Web site, what resources do you have available to steer them away from online financing? Do you have a quick reference guide for their buying the vehicle that fits their budget and your financing terms? Is the information presented in a complete, forthright and friendly manner? Does it enlist confidence and trust? Will readers feel they'd get a no-nonsense financing deal from you?

If these online customers make a call to ask a few questions, does your finance manager answer them, or resort to the former game of "I can only reveal those options when you come in for an interview"? Does he or she become discouraged by the process of reviewing transactions over the phone? Does your Internet manager have direct access to your finance manager at all times; avoid posting rates and product pricing on your Web site; work well with your sales and finance departments? Have you utilized the I-chat technology now readily available to instantly answer your customers' finance questions? How many phone calls to your finance department go unanswered on a daily basis? How are online customer calls being handled in your F&I office?

Reducing your finance penetration will not only effect the overall performance of your dealership, but will negatively effective your reinsurance investment. If your customers are financing with someone else, they could also be buying their other products. Take a long and serious look at the insurance products you sell, the agent who works with you, and the changes that must be made to keep you competitive with the technology available to all your customers. You must remain competitive in products offered, their quality, and their prices. Should you be considering a new partner?

What new and creative processes are you providing your current and potential customers within your Web site? Have you considered presenting your menu as a virtual finance manager? Do you have WebEx with a preloaded menu available for review with your customers whether they are onsite in your finance office or sitting in the comfort of their home? Why not?

An upfront sales approach is the best way to reestablish a thriving business in today's technological world. Teenagers and college students are facile in the use of every conceivable tool involving the information highway. They are your future customers. They will find Edmunds and every comparable site and use the information to their advantage. Provide them with a dozen reasons to buy their vehicle and products from your dealership. Ensure them that financing their dream car with you is the only sensible choice.

Although computer use and Internet technology has been around for several decades, it has taken a giant leap in recent years as more and more consumers realize they can save themselves time and money by letting their fingers do the walking. Another great American journalist, Sydney J. Harris, who wrote for the Chicago Daily News and later the Chicago Sun-Times, died in the late 80s; but, he was savvy about where technology would take us. He said, "The real danger is not that computers will begin to think like men, but that men will begin to think like computers."

We've reached that point. Where in the world is your finance penetration? It's time to find out! Do it... today.

A home renovation or remodel can be a costly and life-altering undertaking. You don't want to spend that kind of money and invest that much time, not to mention the inconvenience of giving up your personal space, on a job that is not done exactly as you specify. In order to ensure a top-notch job, you need the right company handling the work. When it comes to home remodeling, here are a few basic, simple tips for finding a reliable contractor.

It is essential that any contractor you hire to perform work in your home be licensed and insured. That means they've proven their ability to do the work to the licensing board and they have an insurance company that will cover the cost of any damages to your home that result from their negligence or ineptitude. While your cousin's nephew might be a whiz with a hammer, if he is not licensed and insured, he is not the contractor you want.

Secondly, check any and all potential contractors for your job out with the local Better Business Bureau and, if possible, get references from some of their other customers. Many of these contractors will have websites or photo albums showing you the work they've done in the past. Seeing past success will boost your confidence in their ability to do your remodel right.

Finally, do shop around. Two equally qualified, licensed and insured contractors may have very different price quotes. Get all quotes in writing and request a guarantee. After all, you want to be able to recommend them to your friends. So, when it is time for home remodeling, just follow these tips for finding a reliable contractor and you can rest easier knowing the job will be done the right way by the right people.

One of the country's oldest cities established in 1635, Hartford grew into a prosperous trading and manufacturing center, and today is one of the state's largest metropolitan centers. The capital of Connecticut, Hartford bustles with employment, recreational, educational, and cultural opportunities.

Conveniently located in the center of Connecticut, Hartford is at the crossroads of Interstates 91 and 84, with rail and bus service. Bradley International Airport in Windsor Locks is only 20 minutes away.

In the early years of its history the abundance of valuable merchandise stored in Hartford requiring protection against damage and theft led to many insurance enterprises developing. Nicknamed the "Insurance Capital of the World", many of the largest insurance companies in the world have their headquarters in the city. Tens of thousands of people from around Connecticut are employed in the industry and is the economic foundation of the city. The Traveler's tower is one of the signature buildings of the insurance industry defining the city's skyline.

Mark Twain and Daniel Wadsworth are among Hartford's most notable residents. You can enjoy a tour of the Mark Twain House & Museum - a National Historic Landmark. This 2,000-square-foot gallery is filled with rare manuscripts, artifacts, photos, and fine arts not seen anywhere else in the world.

Daniel Wadsworth established the Wadsworth Atheneum, the oldest art museum in the United States. It's home to an impressive collection of historic furnishings as well as European and American art. The Butler-McCook House is the city's oldest house, containing an extensive collection of art, antiques and household items with a restored Victorian Garden. The collection of original furnishings range from Connecticut-crafted Colonial furniture to Victorian-era paintings and toys.

The Old State House is the oldest state house in the country. It was designed by Charles Bulfinch in 1796 who is regarded by many as the first native-born American to practice architecture as a profession. The Victorian Gothic styled State Capital features many statues and engravings on its exterior. It is topped with a gold leafed dome. Legislative Office building houses state executive offices, legislative chamber, and historic displays.

Connecticut State Library & Supreme Court is also located in the hill district near the State Capital atop Bushnell Park. The building contains the Museum of Connecticut History. The Colt Revolver was manufactured in Hartford throughout the late nineteenth century and there are a number of galleries devoted to Samuel Colt memorabilia.

Another popular attraction is the Civic Center which features sporting and cultural events, shops, restaurants, and luxury apartments in a 36-story tower. Restored to its original 19th century condition, Union Station includes the refurbished brownstone depot, restaurants, shops and lively entertainment.

The Downtown Library was originally founded in 1774 and is a large library containing approximately 500,000 items including books, reference materials, audio books, and children's books. A cafe is located inside the library that serves gourmet teas, coffees, and pastries with a special atmosphere.

Adriaen's Landing, located on the Connecticut riverfront is home to the 540,000-square-foot Connecticut Convention Center, the Connecticut Science Center with over 150 hands on exhibits, and a hotel.

The University of Hartford features several cultural institutions such as the Mort and Irma Handel Performing Arts Center, the Joseloff Gallery, and the Renee Samuels Center. In addition there are also a half-dozen private and public colleges and universities in the city including Trinity College, Capital Community College and the University of Connecticut School of Business downtown.

Hartford's public school system is extensive and includes several interdistrict magnet schools and a large parochial system that provides private instruction. Hartford Public is the second-oldest secondary school in the country.

Since 1942 the Connecticut Opera Company has been presenting fully staged, high quality operatic productions at the Bushnell Theater. The Charter Oak Cultural Center is an important performance space where exhibitions, performances, in-school programs, lectures and workshops provides the opportunity to learn and understand a diversity of cultures.

The Hartford Golf Club is a complete private country club offering twenty seven beautifully designed holes of golf, as well as nine tennis courts, three swimming pools, four squash courts and four bowling alleys. The club also has many banquet facilities and a grand ballroom.

For those who are adventurous at heart, CT Ballooning, LLC provides unforgettable hot air balloon rides over central Connecticut.

With the abundance of cultural activities in the state capital, and with the average commute for workers twenty two minutes from the surrounding communities of the greater Metropolitan area makes Hartford one of the best cites in Connecticut for your home and family.

In quite a few cases, it comes as a shock to people when they are forced to file for bankruptcy. But usually, if they had followed the signs, they would have become alerted long before of their dire financial situation.

For many people, their financial decision begins to head rapidly downhill once they begin to abuse their credit cards. What does credit card abuse look like? The main symptom is one of rolling over your credit card balances while you continue to charge for items for which you don't have the cash.

Usually, you are earning enough to cover paying the minimum when the credit card bill comes due at the end of the month. If, however, you were to lose your job, you would suddenly find yourself temporarily without the income necessary to pay off the minimum balance for that month.

And, being late on a payment is where the late and over limit fee charges really start to kick in and accumulate. Of course, the longer you are out of work, the worse the situation becomes. And, when you finally do get a job, you will find out that you are so far behind in your bills that you are unable to catch up.

A second, but often unavoidable, sign that you may be headed towards bankruptcy is a catastrophic illness within the family. If you are lucky to have health insurance, the financial damage will be somewhat mitigated. But, even with health insurance, a catastrophic illness can rapidly deplete the funds of an average family forcing them to begin to use credit cards to pay for some of the medical expenses.

And once you are forced to used credit cards, as we have seen, your financial situation stands a very good chance of becoming worse. The sad thing is that even with reasonably good health insurance, the deductibles on a serious illness can still wipe out the savings of most middle income families. And, if you have a poor health insurance policy, the financial devastation will simply happen much sooner.

Living paycheck to paycheck is the final warning sign that you are close to a financial meltdown. Living this way, you literally have no cushion for error. Unfortunately, for many families, this is unavoidable. They have already shaved their necessary expenses to the bone and are still barely making it. For others, however, it is simply a matter of over consumption. These families at least have a choice. But, if they continue to overspend, they are in serious danger of becoming a bankruptcy casualty themselves.

Madrid is the capital of Spain and could very well be considered the financial capital of Southern Europe. The city has many tourist attractions such as several world famous art museums, some Catholic churches and numerous historic buildings. Madrid has many world-class hospitals in both public and private sectors. These well-equipped health care facilities offer the service of English speaking staff and accept all major health insurances. The following is a summary of some famous hospitals in Madrid.

Hospital de Madrid situated at Plaza Conde del Valle de Suchil 16, 28015 is one of the leading hospitals in Madrid offering high quality health care service. This modern private hospital is operated by the Hospital de Madrid Group - a renowned health care service provider of Madrid. It has a spacious outpatient section featuring well-equipped departments in all medical specialties. It also has specialized units for digestive diseases, pain management and various types of surgery. The surgery section is equipped with modern devices and facilities. The emergency department is well equipped with a defibrillator, blood banks and easy access to laboratory. The Intensive Care Unit and Coronary Care Unit have specialized doctors and nurses. The analysis laboratory is capable of performing every hematological, microbiological and biochemical test due to its automated equipment. The pathology and cytology laboratories are also well equipped. Telephone: 34 914 47 66 00

Hospital Universitario La Paz is the most popular public health care facility in the city. The hospital is located in the north of Madrid at Paseo de la Castellana, no. 261, 28046. This large hospital has an area of 180,000 square meters and is made up of a general hospital, a maternity hospital, a children's hospital and a hospital of traumatology and rehabilitation. Hospital Universitario La Paz offers quality medical service to more than a million patients each and every year by employing 7,000 staff members. Hospital La Paz offers a very large number of health services as well. This sustainable hospital has implemented many environmental management policies according to the international guidelines of ISO 14001. Hospital La Paz has units in all specialties of medicine including dental care.

This is the time of the year when more of the elderly require hands on assistance typically from a long-term care facility like Keiro. With the monthly cost of care at $6,000 or more, an option that many families choose to help pay for some of the costs is Medi-Cal.

But, as with many government programs the amount of paperwork to fill out can be overwhelming. Perhaps one of the most difficult tasks for the family is the gathering of the necessary information that the State requires for the approval of benefits. The following list should help you to be prepared if such an event should occur.

Information for both husband and wife are required, not just for the applicant. Copies are fine.

1. Social Security card

2. Medicare card

3. Health insurance card

4. Valid California Senior ID card or Driver's License. If none is available, then a recent utility bill in the applicant's name.

5. Birth Certificate. If none is available, then a voter registration card.

6. Resident Alien card or naturalization certificate.

7. Current facility information such as name, address, and phone number

8. Most recent health insurance bill showing name of insured, premium amount, frequency of payment. If applicant belongs to the gardener's association Blue Cross plan, make a copy of bill prior to submitting with payment.

9. Payment stubs or statements showing gross pension, Social Security, or other income.

10. "Your New Benefit Amount" from Social Security that comes in December showing next year's monthly benefit. This statement typically arrives in December.

11. Previous 4 months bank statements including closed accounts. All pages must be provided even if the page is blank.

12. Previous 4 months brokerage, mutual funds or other investment account statements

13. Life insurance and annuity policy and most recent statement showing face amount and cash value

14. Burial trust policy paperwork including contract

15. Vehicle registration

16. Deed for burial plot

17. Deed and tax bills for all real estate

18. Living trust including Schedule A

Keep copies in a place where it can be easily accessed in time of crisis. Also, keep the Durable Power of Attorney for Asset Management and Advanced Health Care Directive handy. It doesn't have to be fancy. Use a big cardboard box and throw everything in there. At least you'll know everything is in one place.

One of the most frustrating tasks is showing the trail of money when an account such as a certificate of deposit has been closed. When the Medi-Cal application is submitted, the State pulls up all of the past three years 1099's. If a 1099 shows up for an account that has not been accounted for in the application, the State wants to know if the account is still open or closed.

If it is closed, they want a closing statement showing a zero balance. They then want to know what happened to the money and you must show proof of the disposition of the funds through deposit receipts and bank statements.

Also, frustrating is that Medi-Cal wants to see all of the pages of your bank statements. For instance, let's say that there are four pages in the statement. However, the last page is either blank or has all of the garbage language. Well, most normal people would throw away that last page to save space in their files. Bad move. They want this page. So, the moral of the story is "save everything."

Dealing with banks such as Chase, Bank of America, Wells Fargo, Union Bank, and California Bank and Trust, on behalf of a person that is legally incapacitated can be time consuming and frustrating even if you have an attorney drafted Durable Power of Attorney for Asset Management.

It is the policy of the banks that unless a Power of Attorney card is on file, then the person taking care of the finances for the incapacitated person will not have access to the account.

A very easy solution that doesn't cost anything except your time is to have the bank account owner and person that is going to handle the finances get a Limited Power of Attorney card filled out for each bank where there is an account. Both have to go to the branch.

This way it is on file and the Attorney in Fact can start handling the finances right away. This is a great way for parents to make sure that their kids can take over without them actually being an owner of the account. Should the kid get sued or divorced, the parent's funds are safe.

This does not apply to credit unions. They will accept the attorney drafted Power of Attorney.

Another issue that has come up recently is due to the Patriot Act. Let's say that you are widowed and have a brokerage account titled in the name of your living trust with one of the major firms. You have a checking account in your name only. When you close your brokerage account, the firm will give you a check made payable to your living trust.

Did you know that you cannot deposit that check in your checking account? It would have to be deposited in a checking account that was titled in the name of your living trust. "Like into like".

But what would happen if you had severe Alzheimer's, are in a long-term care facility, couldn't walk and didn't have a valid, in force California Senior ID? Your family would be stuck because you have to have a valid ID, be able to get to the bank, and be mentally competent to open a checking account titled in the name of your living trust.

This is a very common problem that we see. There are very straight forward ways to avoid this problem. The accounts should be titled in the widower's name only with a beneficiary named. Banks refer to this as a Pay on Death (POD) account and securities firms refer to this as a Transfer on Death (TOD) account.

Titling the accounts as TOD or POD means that if the account is closed while the account holder is still living, the check is issued in the individual's name only and can then be deposited in the individually titled checking account with no problem.

But if the person were to die, the proceeds of the account would go to the beneficiary on the account bypassing probate.

If you do these very simple things to get organized for the New Year, you won't be a burden on the family down the road, and they will appreciate all the work that you have done.

Copyright 2010 Karl Kim.