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Are you familiar with Plumbers Insurance?

This is a guest about plumbers insurance, a required part of the plumbing business.

Each business demands its own specialised insurance package tailored to meet specific needs, none more so than the plumbing business. A plumber is a saviour in times of crisis due to the extent of the damage that can be caused by faulty plumbing. Conversely, this also represents a major risk to the plumber in the sense that they must not be found negligent through faulty work and thus held responsible for huge costs.

The insurance that covers the plumber in this scenario is best described as Public Liability Insurance and this should be an integral part of any Plumbers Insurance policy.

Public Liability Insurance covers the business owner against the damages they might incur from faulty practice and any personal injury that may arise from the businesses day-to-day activities. Because plumbers are working inside people’s property, they have a duty to maintain a standard of practice which doesn’t damage the premises on which they are working. Professional Indemnity Insurance is closely related to this aspect of Plumbers Insurance but is generally more keenly associated with the world of professional advice.

A good Plumbers Insurance policy will take all these technicalities into account and offer you the best of all covers in order to prevent costly liability charges that could be ruinous to your business. Faulty or substandard work could result in water damage or injury where costs can be frightening.

A tailored Plumbers Insurance policy can also cover you from a lot more than just public liability. It can cover tools, hired equipment and personal accident cover. If your plumbing or heating business employs workers, it can include employer liability cover which is a legal requirement.

Plumbing is a speciality trade that requires a speciality insurance policy and well tailored Plumbers Insurance is a necessity. Business insurance is a broad title and one business’ needs differ drastically from the next ones.

Article publié pour la première fois le 02/01/2012

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Cost Per Use

Is going cheap always right?  

No.  

Does more expensive always mean more reliable? 

No.

I'm so confused.

It'll be ok.  

 

I can go down to Wal-Mart right now and buy a brand spankin' new shirt for $10 if I want to – and I have on occasion.  Here are some of the problems I can foresee with this purchase (based loosely on real life):

1. I won't care if I spill on it – and I spill on everything. 

Had I bought, say, a $30 shirt, I would immediately run to the laundry room (or restroom when I'm not at home) and Tide Pen the heck out of any stain that dare show its face. 

The cheaper the thing, the less you have invested in it (financially and emotionally) and the more disposable it is.

2. When, after one wash, I find that my new shirt has shrunk to the size of my 4 year-old niece or that one of the sleeves has done gone missin', my one and only thought will be: "What did you expect?  It was a $10 shirt." 

Low expectations are never a good foundation for a purchase.

3. Cost Per Use.  Cheaper isn’t always cheaper, see:

                                                Shirt #1                Shirt #2

Cost                                            $10                        $30

Number of times shirt is worn

before being rendered

unwearable on days other than

Halloween (hobo costume),

laundry day or

Paintball Extravaganza 2011.           20                          60    

Cost Per Use                                $.50                       $.50  

The longer you can use your purchase, the better the use of your dollars.

 

But…

Particularly in a society that boasts such a large quantity of cheap consumer goods, is it realistic to expect people to avoid these products altogether?  Well, that depends on your priorities.  

Some people prefer change and variety.  In the above t-shirt example you could buy three of the cheaper shirts for the same price and cost per use as one of the more expensive shirt.  From a financial perspective both choices are equally appealing.

And then, there is the question of the assumed premise: Does more expensive always mean better quality, more usage, and lower cpu?  

No.  

The cost per use of a $100 shirt that you wear one time and then come to your senses and realize that no one can pull of orange, horizontal stripes is $100 per use.   

 

Buy cheap or buy expensive, just be aware of this little figure.  

It goes without saying that the more you like something, the more you'll use it (but I went ahead said it anyways).  

Article publié pour la première fois le 15/11/2010

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Best Time To Buy In A Recession

The current low interest rates being offered by mortgage lenders is making this a great time to buy a home for those in the market for real estate.

Compare Home Loans

Have you taken the time to compare home loans and seen just how low interest rates are right now? It was not that long ago that you would have been fortunate to get a loan that had rates as low as 9 or 10%. Today, borrowers can purchase a home and get rates that are in the 4 percent range. This makes home ownership a definite possibility for anyone with a good credit score.

Low Interest Rates

Low interest rates mean that you will pay a whole lot less money in interest each month. More of your monthly mortgage payment will go directly to the principal of the loan and less money will go to paying down interest. Interest charges on a thirty year loan could force you to pay two to three times the value of your home. Low interest rates will keep you from wasting cash on unnecessary charges.

Smaller Payments

Another advantage of low interest rates is the fact that your mortgage payment will be smaller. A lower mortgage payment frees up your cash and gives you more money to work with each month. You can use the extra capital to pay down high interest credit card debt or you can send in extra principal payments to your mortgage company. Either method will move you closer and closer to being debt free.

Lower Rates No Matter the Credit Score

Low interest rates benefit borrowers who have average credit scores just as much as those with great credit scores. In the past borrowers with iffy credit had to settle for subprime loans that carry really high interest rates. Subprime borrowers had a hard time obtaining financing from a mortgage broker and traditional banking institutions. Now borrowers can find much more suitable loan products for them which lowers the risk of a potential default.

You can see how real estate buyers benefit from low interest rates. They can use a recession to pick up a low interest rate that will amount to significant cost savings.

Article publié pour la première fois le 23/11/2011

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15 Ways to Simplify Your Life

“Simplicity is the ultimate sophistication.” – Leonardo da Vinci

In terms of your to-do list: simple begets easy, easy begets accomplished, accomplished begets having time to do all of that other stuff you really wanted to do.  Here are some ideas to get you started saving that most precious commodity: time. 

1. Unsubscribe from junk emails.

It is easy to just hit the delete button, but that’s not solving the problem.  Just scroll to the bottom of the email and look for the tiny tiny unsubscribe button.  Save yourself the trouble of sifting through your junk box for an important email or switching addresses all together.

2. Set up automatic bill pay.

Living in small towns for the past 2 years has made me miss this one.  Pay your bills on time all the time?  Yes please.  If you like to know the exact moment your bill gets paid, many companies offer email notifications when the payment is drafted. 

3. Opt for electronic statements.

I feel like I’m getting more than just a bank statement nowadays.  I’m getting envelopes, return envelopes, fliers, advertisements, oh my!  Many banks are also starting to charge for paper statements.  Save your space and money.  Do it now. 

4. Adopt the 4+ Text Rule.

A friend suggested this one recently and it really does save you time.  If a text conversation requires more than 4 messages back and forth, just make the call.  Consider how much extra time is added to the conversation when you factor in typing and waiting for responses.   

5. Keep track of your budget automatically.

What’s the one thing that everyone’s worried about?  Money, duh.  Automate your budget and keep track of your spending using your computer.  Oh, off the top of my head, there’s Quicken ($35), Mint.com (free), and your bank may even offer some sort of expense tracking tool like the one at USAA (free). 

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Article publié pour la première fois le 27/07/2010

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Judge Not, Lest Nobody Like Ye

Everyone judges other people’s spending habits at one time or another, but eventually the shoe will be on the other foot.  Today the shoe was on my foot; my newly pedicured foot.  And it was smelly.

 

Today I went and got my nails and my toe nails done; rare occurrences by themselves, practically unheard of at the same time.  Sure I could do it myself, but my left hand just won’t paint worth a da… darn.  Actually, today I just felt the need to take care of myself in a special way.  This is my rationalization and I’m sticking to it.   

Actually, I was treating myself big-time because I also got my hair done (I love Wal-Mart, you only have to make one trip and POOF! everything you need is all in one place).  My stylist noticed the toe-separator-thingamajig and said to me with judging eyes, “oh, do you get pedicures often?”  So, I may have misread said “judging eyes,” my own judgment clouded with guilt by my previous splurges, but I felt judged

With my sensitivity on alert, my ears perked up when Stylist mentioned she was a smoker.  Ah ha!  What a hypocrite, judging me for spending just a few bucks on myself when she herself was throwing money down the tubes daily…  Wait a minute.  I realized the reason I was peeved was that she had stuck her nose into my finances without knowing me, and I was doing the same to her. 

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Article publié pour la première fois le 31/08/2010

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Around the Interwebs: Week of September 13th


Carnival

Here are the carnivals where I was featured this week.  Enjoy!


 


Carnival of Personal Finance Editor’s Choice! @ Danielle Liss – Spending Under Pressure


Festival of Frugality @ My Personal Finance Journey – Home Economics: Beer Brewing

As long as you are browsing the interwebs, here are some of the articles that I found worthwhile this week:


Why We Have Joint AND Separate Accounts @ Couple Money


How Credit Card Companies Make Money @ Narrow Bridge


Nobody Cares About X as Much as You @ Ultimate Money Blog

Find more amazing reads by browsing through the Yakezie Blogroll.

Article publié pour la première fois le 17/09/2010

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