Easy Tips to Save Money on Motorcycle Insurance

While motorcycle riding can be a fun-filled activity, you need to be certain to remain safe at all time. This is why purchasing a motorcycle insurance is an absolute necessity. It not only protects your ride but also saves your money in an event of an accident.

In India, you can find a variety of motorcycle insurances that differ widely in terms of price & coverage. Still you can choose the best Motorcycle insurance policy as per your need and budget. But before you head to any insurance company to purchase the policy as per your need, you must read the following tips to make your motorcycle insurance a little less expensive:

Look for discounts: Many bike owners hesitate to ask for discounts on the insurance policy. They consider that they might not be eligible for the same. However the fact is that insurance companies do offer a plenty of discounts who drive rarely or have a good driving record. Apart from this, if you are someone who has pursued a safe driving course, then too you can get a good discount on your motorcycle insurance policy.

Never include members with the poor driving record: Don’t include anyone in the policy who has a poor driving record. Their crummy record will cause your motorcycle insurance rate to be a lot higher than it would be if they are not included in the policy.

Avoid small claims: Instead of filing small claims, you must save the claims when you experience a substantial loss. This way, your claim will not be rejected, when you really need the financial support. Insurance providers appreciate the customers who file just a single claim in a year. If you file more than that, your insurance provider could decide that they have no interest in renewing your policy with them because of it.

Ride alone: Unless it is too important, don’t let anyone ride with you on your bike. This way you won’t require a passenger liability coverage. Note that not getting this coverage means that you should not be letting other people ride your bike, ever. If you let passengers ride on a bike that doesn’t have passenger coverage on it, you will be in a real trouble.

Maintain a good driving record: Whether you believe it or not, your driving record greatly affects your motorcycle insurance rate. Though you cannot improve your past record instantly but can stop making more unwise mistakes from now on, as getting these flaws removed could make a little difference in the policy premiums that you would pay each month.

When you are trying to find the good motorcycle insurance policy, make sure you do a thorough research and shop around for all available options. Never purchase the first policy you come across because you never know and may find a much better policy later on. Also, see what all coverage is being offered under the policy and also the premiums that you will have to make each month. Make sure you end up purchasing a motorcycle insurance policy that is equally good and affordable to you.

high risk merchant account

If you are planning to start your own online business, chances are you would have heard of the term high risk merchant account and how it can turn into a nightmare for all your ideas of a quick fortune in the online sector. Well, worry not. Just because you are planning to start your e-commerce portal does not mean that you would need such an account. Hence before you go about setting up your online credit card processing system, it is important to understand what we mean by “high risk”, and more importantly…would you need one?

Let us start by understanding the term. High Risk Merchant Account simply refers to a merchant account which the bank sees as a risky investment. You have to understand that every business has a certain degree of “risk” or “uncertainty” associated with it. When providing banking accounts to businesses, banks have to check the viability of the business, the securities available and how it would be able to simply “minimize” the risk involved. With online businesses, this “uncertainty” is higher than a traditional brick and mortar set up.

The primary reason for such accounts continue to be the high possibility of chargebacks on your account. On top of that, while there are many long term businesses on the internet, many “categories” of online businesses have a rather short shelf life. Essentially, what we mean by that is the businesses gain quick momentum, become popular and then before you know, they simply fade away. Also, there are other categories of business which are not essentially legit and leave a lot of grey areas for the merchant banks to meander. Since the online banking also require online credit card processing, the high possibility of fraud makes it a viable threat to the merchants. These businesses are hence looked at with more than ordinary scepticism. It’s not that you would not find a vendor – but high risk accounts would often draw a much higher interest rate.

Here are a few examples of businesses that qualify for a high risk merchant account:

Adult Entertainment
Online Gaming/ Gambling
Gun Dealers
Medical Marijuana
Travel & Reservation
Technical Support
E-Cigarettes, etc.

Apart from that, if you have your business registered outside of the USA, you directly qualify for a High Risk Merchant Account and should accordingly reach out to vendors that can provide you with the same.

Essential Services Every Bookkeeping Provider Should Offer

Understanding Industry-Specific Needs
Importance of Industry Knowledge
Bookkeeping isn’t a one-size-fits-all task. Different sectors have unique financial regulations, tax obligations, and reporting standards. A proficient bookkeeping service should not only be familiar with general accounting principles but also possess a deep understanding of your specific industry. For instance, the financial management needs of a healthcare provider differ significantly from those of a retail business.

Choosing the Right Service Provider
There are two main types of bookkeeping services:

Industry-Specific Services: These providers specialize in certain sectors like healthcare, sports, or restaurants, offering tailored bookkeeping solutions that adhere to industry standards.
General Bookkeeping Services: These firms handle a diverse range of clients across various industries, leveraging their broad expertise to meet different accounting needs.
When selecting a bookkeeping service, consider one that either specializes in your industry or has a proven track record with similar businesses. This ensures they are aware of the nuances and specific requirements of your field.

Leveraging Technology in Bookkeeping
The Role of Modern Software
The era of manual bookkeeping is long gone. Today, efficient bookkeeping relies on advanced software and technologies like QuickBooks, Peachtree, MYOB, Great Plains, and various Sage products, including ERP Systems. These tools enhance accuracy, speed up processes, and provide real-time financial insights.

Criteria for Technological Proficiency
Ensure your bookkeeping service is proficient with the latest technologies and can integrate these tools seamlessly into your business operations. This not only streamlines workflows but also safeguards your data through enhanced security features inherent in modern software.

Customized Service Delivery
Understanding Business Needs
A top-tier bookkeeping service provider works closely with you to understand your specific financial needs and goals. This partnership approach ensures that they deliver customized services that truly benefit your business, keeping you informed with the latest financial data and insights.

The Importance of Tailored Solutions
Customized bookkeeping services help maintain clear and accurate financial pictures, crucial for strategic planning and decision-making. Ensure the service provider you choose is willing to adapt their processes and services to align with your business objectives.

Experience Matters
Why Experience Counts
For small businesses, inaccuracies in bookkeeping can lead to significant financial discrepancies and potential legal issues. It’s essential to choose a bookkeeping service with substantial experience in handling small business accounts.

Evaluating Experience
Before hiring a bookkeeping service, investigate their history and client testimonials. Look at the size and type of businesses they have serviced and assess whether they have the requisite expertise to handle your accounting needs effectively.

Choosing the right bookkeeping service is crucial for your business’s success. Ensure they offer industry-specific knowledge, utilize the latest technologies, provide customized services, and have extensive experience, particularly with small businesses. A competent bookkeeping partner not only keeps your financial records in impeccable order but also contributes to the strategic growth of your business.

For further reading on the importance of bookkeeping, visit the American Institute of Professional Bookkeepers or explore resources at QuickBooks.