Is There A Grace Period For Car Insurance When Buying A Used Car?

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StrategyDriven Risk Management Article|Car Insurance|Is There A Grace Period For Car Insurance When Buying A Used Car?Car insurance policies are necessary to have if you want to legally drive a car. Every state has its law on car insurance policies. Some states require you to only have liability insurance to drive a car. Some states require you to get a personal injury protection plan as well, while some require you to get uninsured motorist coverage as well.

When it comes to new cars that you buy from dealerships, you cannot skip the mandatory auto insurance policies in this case. You’ll have to show the dealership proof of insurance (that you own liability insurance, personal injury protection, etc) to get the keys to the car.

But what about used cars? Cars that you buy from private sellers who are not at all enthusiastic about checking your auto insurance policies? Do you need auto insurance policies in that case? Is there a grace period for car insurance when buying a used car? We’ll describe in detail everything you need to know about it, along with ways you can save money on auto insurance policies.

Car Insurance for Used Cars

While new cars when bought directly from dealerships require you to have all the necessary auto insurance policies before they let you take the car. Driving any vehicle without the proper insurance is illegal and will get you both legal and financial issues.

The same goes for used cars. No matter how you buy the car, either from the dealership or from a private seller, you’ll need to have all the mandatory auto insurance policies to drive the car. The only difference when buying a used car is that you do not need any proof of insurance.

Is there a Grace Period for a Used Car’s Auto Insurance?

There are two cases to consider when someone buys a used car. The first is when the used car is the first and only car the person owns. The second case is when the person already has a car and buys a second, used car. Let’s see what is to be done in both cases.

If the used car is going to be the first car, then make sure you buy all the important car insurance policies before you get the car. While you can get and drive the car without the policies, if you get in a car accident, you might face legal action, as well as pay hundreds of thousands of dollars for the cost of the accident.

There is no difference in the requirement and process of getting car insurance between used cars and new cars. There might be some differences in the cost of the policies, but the other process remains the same.

There is no grace period for insurance for buying your first car, be it a new car or a used one. But that’s not the case for buying a second, used car when you already have an auto insurance policy.

When you already have auto insurance and you buy a used car, you’ll have to add the car to your auto insurance policy. This is where grace periods come in. Depending on the state you live in and your car insurance company, the grace period could be anywhere between 7 days to a month.


No matter how many days your car insurance provider allows you to have before registering the car to the policy, it is never safe to drive a car without liability insurance, collision insurance, and other important auto insurance policies.

So the first thing you should do after getting the keys to your used car is add it to your car insurance policy. You’ll need to submit some information about the car and its usage to the car insurance company. This includes:

  • Price of the car
  • Vehicle Identification Number
  • Make and model of the car
  • Safety features such as ABS, ESP, etc
  • Mileage of the car

Price Hike

Depending on the car insurance company, the type and model of the used car, and the state you live in, the price hike after adding the used car to your policy can vary. Adding another car to your policy will increase the rates, no matter what.

Looking at the average, you can expect the price hike to be somewhere around $1,000 to $1,500 per annum. This means that you’ll need to pay an extra $100 for the added car. If you want to save money while getting the security of auto insurance policies, there are some ways you can reduce this damage to your wallet.

Firstly, make sure you choose the right car insurance company. Based on the state you live in, find the most affordable and best-rated auto insurance provider. For example, if you live in Nevada, look for the best Nevada car insurance company that has great coverage options.

Another great option that must be considered is pay-per-mile or usage-based auto insurance policies. These car insurance policies are great for secondary cars that are not driven too much. If you intend to use the second car only occasionally, then get a usage-based car insurance policy.

In usage-based car insurance, which includes all the mandatory insurance policies such as liability coverage, personal injury protection plan, etc, your premium rates are calculated based on how many miles you drive your car.

A base rate is first calculated by factoring in your driving record, age, gender, make and model of the car, etc. This base rate is then multiplied by your monthly mileage and you get your premium rates.

As you can guess, usage-based insurance is great only if your monthly mileage is low. If you drive a lot, usage-based insurance can be very expensive, more expensive than general car insurance policies. So first calculate the estimated monthly mileage of your before you buy this policy.

That was all about the grace period given by the car insurance company for adding used cars. Contact your insurer to find out their grace period. Even though you have a grace period, we recommend adding your car to the policy as soon as possible.

How To Protect Your Brand And Assets

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StrategyDriven Risk Management Article |Protect your brand|How To Protect Your Brand And AssetsCompanies face a variety of risks: legal, financial, intellectual and asset-related. When these risks combine, they can put brands in jeopardy.

Fortunately, there are numerous ways to manage risks and secure your business for the long term. Here’s what you need to do.

Create Agreements With Employees

Writing employee agreements is essential for preventing damage to your business from the inside. Staff who must abide by contracts are far less likely to harm your enterprise.

There are several reasons for this. First, contractual agreements prevent employees from using your firm’s private records for their own gain. Either, they cannot access your files, or they cannot use them for personal benefit without facing legal consequences.

Second, contractual agreements prevent staff from sharing secret formulas or recipes or using them themselves.

And, lastly, and perhaps most importantly, agreements stop staff from stealing your intellectual property. They can’t, for instance, take your ideas and then set up their own business doing the same thing, stealing customers from you in the process.

Build Relationships With Facilities Security Partners

Brands also need to consider physical premises security. In today’s environment, it is essential for every firm to consider its security arrangements on its premises, including companies that don’t hold stock on-site.

Facilities security partners can provide a suite of services to protect your property and keep it safe. These include CCTV monitoring, RFID sensor installation, and perimeter fencing. You may also want to work with a graffiti removal company if you operate in an area prone to vandalism. Partners can ensure that your property remains attractive at all times while deterring criminals from causing damage.


Incorporate

Incorporating your business is another great way to protect your personal assets. You don’t want to put your car, home or savings on the line when you start a business. Forming an LLC or similar provides you with tremendous protection and lets you keep your business separate.

Secure Your Data

Firms that fail to secure their data are asking for trouble. Today, hackers perform millions of hacking attempts every hour against businesses, looking for weaknesses in their defences. If there are any issues with your IT security, they will find it and take advantage of it.

There are several things you need to do to secure your data and network. These include:

  • Backing up all your raw data and files at a third-party location
  • Hiring managed IT services to take care of your security requirements, including updates and monitoring
  • Training your employees on how to spot the signs of phishing and other attempts to steal your private data

Apply For Trademarks And Patents

Lastly, applying for trademarks and patents is one of the best ways to protect your business and secure it for the long term.

But what does that mean, precisely? Essentially, it means working with various government departments to protect both your name and idea. Trademarks, for instance, mean that nobody else can use your name. Patents, on the other hand, mean that people can’t steal your ideas and then pass them off as their own products.

Top Cybersecurity Tips To Better Protect Your Business Online with mTame.com

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StrategyDriven Risk Management Article |Cybersecurity tips|Top Cybersecurity Tips To Better Protect Your Business Online with mTame.com1. Consider Yourself a Target

It’s important to put yourself in the shoes of a target. If you go around thinking, “it can’t happen to me,” you will never take things seriously. The fact is, if you are online, you are a potential target. It’s not only important for your business’s reputation but also for your customer’s security.

Maintaining optimal cybersecurity is everyone’s responsibility. Everyone must play their role to keep each other safe.

2. Keep All Of Your Software Updated

Updates are imperative when it comes to maintaining good online security. Software vendors are constantly releasing new updates not only to patch flaws in the code that impact the end user’s performance but also to patch security vulnerabilities. While some updates are more important for security than others, you want to enable auto-updates to ensure that all of your software gets updated regularly. You don’t want to be using outdated software because it could compromise your security.

It’s best to turn on automatic updates for even your browser. Your browser is a place where you spend the majority of your time online. As a result, you need to ensure it’s updated at all times. This includes the browser itself and all of the third-party extensions you are using along with it. Always keep the plugins for your browser updated because they are commonly targeted by bad actors.

3. Avoid Phishing

Phishing is one of the main things you need to look out for when you are trying to stay safe online. It’s hard to believe you could fall for a phishing attempt until you see one that’s inconspicuous. Even some professionals have a hard time telling what’s real and what’s fake as many bad actors have become very good at disguising things. Phishing attempts are a constant threat. The phishing attempts are constantly evolving too. You want to be wary of any email or phone call from an unknown sender. Never click on a link or call a number from an email. If your bank or financial institution needs to contact you, go to their website and call the number on it. Otherwise, you can call the number on the back of your credit card or debit card.

A phishing attempt can be carried out in numerous ways. The most common is through email. However, more and more are being sent out via text and even using phone calls. You can check out our phishing resources to get more information on how to effectively identify a phishing scam.


4. Manage Your Passwords

Passwords are inherently insecure. Because of this, you want to be proactive about optimizing their security. The best way to do this is by having a unique password for every account. However, this can be impossible if you had to remember them all. That’s where a password manager comes into play. Using a password manager, you can easily create unique and strong passwords for all of your online accounts. That way, you don’t have to worry about your passwords getting socially engineered or brute-forced. A password manager can be one of the best tools you use for improving your online security. UC Berkeley offers a free LastPass Premium subscription for any user that has a CalNet ID.

5. Don’t Click On Everything

You want to try to avoid clicking on any websites that have obscure links. Also, avoid clicking on unknown links from unknown senders. When gaming online be aware of pop ups, use safe sites such as www.mtame.com. A website could contain malicious software or attachments on it. A lot of these websites will silently install malware or viruses onto your device. If there is an attachment in an email from an unknown sender, avoid clicking on it. Even if one of your friends or family members sends out an email with an attachment, try to avoid clicking on it unless you knew it was coming. You can speak with them and ask if they sent an attachment for extra verification.

6. Avoid Leaving Your Devices Unattended

You need to keep your devices physically secure too. If you are planning on leaving your mobile phone or laptop anywhere, ensure that you have a password on it. You want to password-protect access to it. You also want to keep any data you have with you encrypted. Have your flash drive or external hard drive password protected.

7. Safeguard Any Protected Data

You will want to ensure that you are safeguarding all of the protected data that you come into contact with. This means any personal information needs to be protected. This includes credit card numbers, student records, health information, and more. All of these things must be treated securely. Always securely remove data files from your devices when you don’t need them any longer. Using encryption is a must when you are transporting, storing, or transmitting sensitive data.

What Is The Best Insurance For Your Small Package Shipments?

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If you have high hopes for entrepreneurial business success then you’re probably thinking of how you could do this. There are so many business ideas out there, and what do you see yourself doing? For many people they’ll opt to sell products. This could be wholesale items, handmade, and the list could go on and on.

If you’re starting a business, you’ll also want to think about the logistics of it, such as shipping. This can include getting insurance from third parties such as www.secursus.com. But before you begin all that, how do you determine the best insurance for shipping packages? How can you feel confident in your choice if it’s something you’re unfamiliar with? Here is everything you need to know!

StrategyDriven Risk Management Article | What Is The Best Insurance For Your Small Package Shipments?

Why should a business owner buy small packages insurance?

Some people might think that it is not worth buying because they only have a few personal belongings that are worth protecting. Package Insurance is one type of insurance that covers packages and shipments up to a certain value. It provides coverage for the shipment against loss or damage in transit and for the goods within the shipment against loss or damage during storage and transport. This type of insurance can help you out in the event that something does happen and you need to replace your items quickly; a lot of business owners need it.

What factors impact the cost of shipping insurance?

An insurance company will charge a different amount for shipping insurance than the one charged by a carrier. The price difference is based on the company’s risk assessment. Some factors that impact the cost of shipping insurance are:

  • The type of goods being shipped
  • The size and weight of the goods
  • The type of service used to ship the goods
  • Whether or not there is a contract between the buyer and seller

If you’re starting out, there may be a chance that it could be expensive. However, you’ll need to keep your options option and look into different providers.


What does small package insurance cover?

As a business owner who creates and sells products, there is always a chance that during transit something could happen to the package. It could get lost, stolen, or even possibly face some type of damage, It’s clearly not ideal, either. This is why small package insurance is needed for business owners. You won’t have to worry about losing money, and you will still be able to keep solid relationships with customers and clients. It’s going to be up to the insurance company and what they’re planning to offer.

The most common types of small package policies include:

  • Insurance on items valued under $500
  • Insurance on items valued between $500 and $1,000
  • Insurance on items valued between $1,000 and $2,000
  • Insurance on items valued between $2,000 and $5,000

However, keep in mind that it will still vary and this is merely an estimate.

Are there any extra fees?

The most common of these is a broker or destination fee, which usually applies to shipments sent by certain logistic companies like FedEx. These charges vary depending on the size of your shipment and your location. If you are shipping something from one company to another company, you might need to pay a broker fee for each shipment as well as a destination fee for each endpoint. It’s all just going to heavily depend.

Manufacturing: 5 Ways To Boost Safety At Your Factory

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StrategyDriven Risk Management Article | Manufacturing: 5 Ways To Boost Safety At Your Factory

There is no denying that factory safety is crucial – whether you are running a textile business or a company that produces machinery in a factory.

The safety measures you put in place will depend on various factors, such as the nature of your business, the things you do, and the size of your premises.

That said, there are some ways to boost the safety of your industrial operation – irrespective of your business type. Whatever you manufacture, it’s worth knowing what you can do to improve your workplace safety.

Take a look at the following examples to give you some ideas and inspiration, as it’s likely you may not have implemented at least one of them at your premises:

1. Have A Robust Training Program

Did you know that one of the most common reasons for workplace accidents at manufacturing premises is due to inadequate training?

You are a responsible employer, and the safety of your workforce should be at the forefront of your mind. Therefore, you must ensure there is a robust training program in place for all employees to cover all aspects of safety and equipment operation related to their roles.

Moreover, you should block employees (such as new starters) from doing anything potentially dangerous until they’ve received the correct training for their jobs.

2. Periodically Upgrade Manufacturing Equipment

All equipment used in manufacturing processes will undeniably have a limited lifespan – irrespective of maintenance schedules.

There will come a time when the tools and equipment you use become obsolete or not fit for purpose, and it’s at those times you must upgrade them to new ones.

The frequency of planned upgrades will depend on the tools and equipment used, and the recommended upgrade paths from equipment manufacturers or industry experts.


3. Enforce PPE

PPE or Personal Protective Equipment is a must when working in a manufacturing environment – even if an employee’s role is merely to package newly produced goods.

Ensure that all employees have access to the PPE required for their roles and investigate processes where staff may need revised PPE for their work.

4. Have Thorough Regular Safety Checks

Regular safety checks of all manufacturing processes at your business must get conducted. Doing so will diminish the risk of accidents and injuries in the workplace and, of course, ensure optimal productivity.

If you feel such checks aren’t thorough enough, consider investing in some process safety training courses for key members of your workforce and create a robust safety check plan that everyone can follow with ease.

5. Ensure All Emergency Exits Are Clear

One final point to consider for your manufacturing business is to ensure that all emergency exits are clear at all times.

It might seem like an obvious statement to make, but some companies become complacent in this respect, and the results can be potentially devastating.

Ensure that all employees are aware of the importance of keeping emergency exits clear, and conduct checks of those exits several times each day for added peace of mind.