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Finance

What to Do If Bike Insurance Expires During This Lockdown?

Riding a bike lets you enjoy your commute with the wind in your face. Other than that, it also adds a lot convenience by helping you weave through heavy traffic. This means you save a lot of time while others must wait for it to open.

There is no end to the list of advantages that a bike can offer you. But for all its advantages, there are a lot of dangers to riding a bike as well. Making a single mistake on the road can lead to dire consequences for both the bike and you. The best way to avoid this situation is to drive safe. However, despite all the caution, accidents can happen at times. Hence, the best solution for you is to have bike insurance.

Bike insurance during lockdown

Since more than a year, the country has been under lockdown due to the COVID-19 pandemic. As part of this lockdown, the movement of people across their respective regions. This means that there is little to no reason to drive your vehicle. Due to this, a lot of people of have parked their bikes for the foreseeable future. Hence, it is natural to forget about everything associated with the bike. This includes bike insurance as well. There may be a situation where you forget about your bike and the insurance policy on it. Due to this, you may fail to renew it and it may expire.

What happens when your bike insurance policy expires?

A bike insurance policy expires when you don’t pay the premium in the stipulated time of the coverage. This means making the payment before the last day of coverage. In the case you don’t make it and the coverage expires, the insurance provider will offer you a break-in period of 90 days. This break-in period serves as a chance for you to reinstate your plan. This way, you can restore all the benefits of the policy as they were. But you will not have coverage during the break-in period. If somehow, you miss this time window as well, your policy is terminated.

Upon termination, all types of coverage and benefits of the policy are considered null and void. This implies that you not only have no coverage for own damages to your bike, but also for third-party liabilities. Hence, the next time you get into a situation like accident, theft, vandalism, etc., you will have to cover these expenses out of your own pocket. While there is a lesser chance of accidents during lockdown, but there is no sense of taking the risk of being in this situation with insurance coverage. Moreover, riding a bike without insurance is illegal. Getting caught riding a bike without insurance means you will have to pay a heavy fine.

What can you do if this happens?

Missing the renewal of your bike insurance policy may be a bad thing, but its not a crime. But if you want to ride your bike, you need a two-wheeler insurance policy. So, in the case of your policy expiring, the only thing that makes sense for you to do is to buy a new policy.

Ideally, it would be better if you make the premium payment before your policy is terminated. But missing this opportunity could be a blessing in disguise. This implies that now you can buy a policy with better benefits and coverage options. Hence, as soon as your policy is terminated, you need to start looking for another policy.

The most obvious doubt here is that with everything closed due to COVID-19 lockdown, how do you exactly buy a policy or even look for one. The simple answer is through online mediums. The first step is always comparing polices which can be done through third-party comparison websites. To buy a policy you can go to an insurance provider’s website and make the transaction.

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Finance

Top 5 Personal Finance Tips Everyone Needs to Know

A 2019 study concluded that on average, Americans have about $90,460 in debt. This debt includes everything from credit cards to mortgages to student loan debt.

Gen X has the highest debt ringing in at $135,841. Debt has increased the fastest for the millennial generation. Their debt has increased by 58% in 4 years, from $49,722 in 2015 to $78,396 in 2019.

Personal finances are an important part of life but they can be a difficult area to manage. Keep reading to learn some personal finance tips you’ll want to hear about.

Always Have a Budget

The first thing that should be on your list of personal finance strategies is creating a budget. It’s easy to overspend if you don’t set a limit for yourself.

There are many online resources you can use to help you create a budget for your monthly expenses, this way you won’t wonder where all your money went.

Having a budget will also make tracking your spending simple. When you make a physical list of where your money goes you’ll begin to make better decisions for your financial future.

Pay Your Credit Cards

Credit cards can be a double-edged sword for many people. While they’re great at helping establish the credit that you need, they can also lead to a lot of debt if not handled properly.

You should pay off your credit cards as soon as possible. This will minimize your debt and prevent you from paying high-interest rates.

Falling behind on credit card payments or establishing a lot of debt from credit cards can lead to bad credit. This can make getting important loans more difficult.

When applying for a loan, bad credit can make things more difficult but it’s not impossible to get the loan you need. Bad credit help is available and many available options can help you establish the financial security you’ve always wanted.

Set Aside Emergency Money

This next tip is crucial to achieving financial stability. Setting aside an emergency fund can help ensure that when an emergency arises you’ll have the means necessary to take care of yourself and your family.

This fund should get a percentage of every paycheck. Keeping this money in a money market account will ensure that the fund continues to grow.

Saving Is Crucial

While an emergency fund is a type of savings, having a separate savings account is crucial to your financial success. If you’re living paycheck to paycheck this task might seem difficult but saving even a few dollars per paycheck will begin to add up.

Whether you’re saving for your education or a car, putting some money away can help you make those purchases you didn’t think were possible.

Invest in Your Health

Health insurance is an important part of financial stability. Investing in a good plan will protect you if faced with a medical issue. Taking care of your physical health can help prevent expensive medical care in the future too.

Important Personal Finance Tips

Financial stability is an important part of life. If you follow the personal finance tips listed above you’ll be on your way to the financial freedom you’ve always wanted. Check out some of our other blogs to learn more.

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Business

Follow the tips available on our website if you intend to purchase the used cars

It is not an easy task for the customers to purchase the used cars from the resellers. If you are looking to purchase the used cars at our company then the process is very tricky. You can purchase the car privately but you must understand that there is a major concern in selling the car. The customers can view the sell used cars but they must ensure to check the vehicle thoroughly. You can intend to purchase the car without any hassles if you follow the tips available on our website. The current rate of the specific car at cars com can be identified if you do some research after you view the car. If you have selected the used car for purchase then you should be ready to pay a worthy amount. You will have more rights about the vehicle if you buy from a motor trader rather than buying the vehicle privately. It is important to check the mileage of the vehicle if you want to have a great buy.

Defects of the used car:

If there are any ripples of the paintwork then you must ensure to check the signs of crash repairs. There will be on the engine if the car has been driven hard. The possible blemishes on the body of the car can be observed if you consider purchasing a used car. The defects of the used car can be identified easily during the daytime rather than night time. You can feel free to discuss the price of the car with a dealer by following some simple steps. If you want to get the best deal to purchase the used car then you should bargain on the price rates. The customer’s dan knows about the model and specifications of the car before they meet the seller. You should think hard before asking for a high price if the car is really worthy or not. The price is included in the used car market in order to provide a clear idea for the customers.

Brand name and model:

The real price of the car in the current market can be identified if you check the internet. You can get information about the various makes and models of cars if you search through websites. The prices offered for the used cars will vary based on the brand name and model. The helpful tips are offered in the online sites if you want to purchase a used car. You can certainly make a wise decision if you research more before you purchase the used cars from the car dealers. The list of the used cars for sale are available on our website along with the information about the car dealers. The buyers can successfully negotiate with the dealers only if they know the real price of the car. The price of the specific make or model can be found only if you visit different websites.

Categories
Business

Energy Saving LED Lighting Solutions for Small Businesses

If you run a small business, saving energy means saving money, and with LED lighting, not only can you create the right ambience, you can also reduce your energy consumption. Light emitting diodes (LED) have changed the way we live in many respects, and by searching for qualified commercial electrical contracting in Nottingham, you can soon be talking to a lighting expert who can help to design the best lighting for your commercial premises.

Retail Outlets

Creating a warm and inviting ambience in a retail store is very important, and we know how much of a part lighting plays in creating the right setting, particularly the store entrance. LED lighting includes the following:

  • LED strips – These can be attached under window frames or anywhere for special effect.
  • A wide range of colours and hues – Essential for creating a warm ambience.
  • Powerful spotlights – Low input-high output solutions.
  • Control box that allows for fine brightness adjustment.

Commercial Lighting Design

If you manage to find the right LED supplier, they will design the perfect lighting system for your business, and with a professional installation, your business premises will be transformed.

Eco-Friendly Lighting

LED lighting is eco-friendly, and if your business promotes green practices, installing LED sends out the right message toy our customers. Reducing your carbon footprint is just one way your company con play a role in protecting the environment, and if you would like a lighting expert to visit your business premises for a free assessment, a Google search will put you in touch with a local commercial lighting supplier.