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What’s the Difference Between Actual Cash Value and Replacement Cost?

Posted on by TheSph3r3
What’s the Difference Between Actual Cash Value and Replacement Cost?

Know how actual cash value and replacement cost affect your home insurance policy. 

Much like everything else we buy, insurance comes with a lot of options. When selecting home insurance, homeowners will be faced with the option of actual cash value or replacement cost value. These terms are loss valuation methods insurance companies use to determine how much money they will pay out in the event of a covered claim after any deductible is applied. Here’s what you should know about the differences between the two options.

Actual Cash Value

The actual cash value, or ACV, is the economical choice because it requires that you pay the lowest premiums. That is because depreciation is taken into consideration. As time goes by, the monetary value of your belongings may go down, and this is known as ‘depreciation.’ If your possessions are destroyed by a covered loss and you have ACV coverage, your insurance agent will subtract your home’s depreciation from the amount of money that is required to repair or replace your items to the condition they were in before the disaster.

Replacement Cost Value

The alternative to actual cash value is replacement cost coverage. If your belongings are destroyed and you have replacement cost value, your coverage would provide you with a payment equal to that required to replace lost items. Depreciation of your items is not a factor in the settlement you receive from your insurer.

Ensure your home and possessions have the right protection in place. Contact All Nevada Insurance to get started on the right homeowners insurance policy to suit your needs, budget, and belongings!

The Basics of Getting Into a Franchise

Posted on by TheSph3r3
Basics of Getting into a Franchise

What you need to know about buying a franchise.

If buying an existing business doesn’t sound right for you, but starting from scratch sounds intimidating, you could be suited for a franchise ownership. To determine if this is the right way to go, it helps to know the basics of this process and how to get started.

What is a franchise?

A franchise is a model that fills the gap between working for somebody else and working for yourself. A franchisee pays an initial fee and ongoing royalties to a franchisor. In return, the franchisee gains the use of a trademark, ongoing support from the franchisor, and the right to use the franchisor’s system of doing business and its products or services.

What are the main benefits?

  • A well-known brand name is already established
  • Reputable franchisors conduct market research before selling a new outlet, so all the hard work is already complete
  • Safety and liability concerns are already addressed so there is a reduction of risk
  • Supervision and consulting is readily available
  • National and local advertising programs
  • Operations manual provided

What are the things to be aware of?

Franchising, however, is not for everyone. Headstrong, independent entrepreneurial types may feel restricted if they launch themselves into a franchise opportunity. Common downsides of owning a franchise are:

  • Loss of control
  • A binding contract

Also, know that some franchise systems work better than others. A weak franchise program will not train you well to handle the challenges of the business, will not help when problems arise, and won’ t make the best use of advertising dollars. Because of this, it’s essential to research the opportunity and company thoroughly before signing on the dotted line.

Once you’ve made the decision to become a franchise business owner, take a look at the All Nevada Insurance franchise system.  Get started with your franchise system today!

Should You Pay Off Your Mortgage Early?

Posted on by TheSph3r3
Should You Pay Off Your Mortgage Early?

Pros and cons of paying off your mortgage early.

One of the most debated topics in personal finance is whether it makes sense to pay off your mortgage early or invest in extra cash. There are significant advantages and disadvantages to both options, and there may not be a solution that is best for every situation. Take a look at these pros and cons to help you decide what to do.

Pros of paying off your mortgage:

  • No mortgage means lower expenses and less need to draw down your savings in retirement.
  • You may save thousands of dollars by not paying the interest on a mortgage. Even if your tax deductions would be reduced if you were to accelerate the mortgage payments, you’d still win financially.
  • For some people, the peace of mind they gain by eliminating debt is the most important consideration of all.
  • If you can pay off your mortgage by the time you retire or shortly thereafter, you’ll need much less income to support yourself in retirement than people who are either renting or still making mortgage payments.

Cons of paying off your mortgage:

  • The extra payments reduce the amount of money that you have to invest or to meet financial emergencies.
  • You’ll have reduced liquidity. It’s easier to access funds sitting in an investment account or bank account than to access funds in the form of home equity.
  • The money you invest has the potential to grow faster than the savings. You gain by paying less mortgage interest.
  • People with no mortgage may be looked on unfavorably as the lender lost money what would have been accrued in interest payments.

Whatever. You decide to do, be sure you feel confident in the plan. Find financial stability by securing reliable and affordable insurance policies. Contact the team at All Nevada Insurance for information on how to select adequate coverage for your needs.

3 Tips for Buying a Franchise

Posted on by TheSph3r3
Tips for Buying a Franchise

Tips that help you to get ready to buy a franchise.

For entrepreneurs itching to start their own business, purchasing a franchise can be a good alternative. Franchising can be less risky than starting from scratch. The franchisor will have already done a lot of work for you. The business plan is ready made, and everything is set up so that you can get started. Now all you need to do is purchase one!

However, any new business is risky, even a franchise. If you’re considering the leap, here are a few tips to help you purchase!

Conduct Research

You’re responsible for the due diligence before you invest – so be thorough! Make sure that you find out exactly what your role as the owner will be, and dig deeper than the franchise brochure. Ask the existing franchisees what their day is like and how much support they received. If they allow it, shadow him or her for a day so that you know what to expect.

Determine the Location

Restaurants, storefronts, homes – it’s all about location, location, location. One of the toughest, and most important, decisions a franchisee will make is choosing a location for their new business. Many franchisors will work closely with you to pick the perfect spot, sharing insights about what particular site characteristics lead to success with their organization.

Consult a Specialist

The Tax rules and contracts surrounding franchises can get quite complex. Don’t get weighed down with terminology and paperwork! Ask for help from a professional attorney, preferably one who specialized in franchise law. He or she will review your franchise agreement documents and identify any potential red flags.

Once you’ve decided to become a franchise business owner, check out All Nevada Insurance’s franchise opportunity. Find out more information by giving us a call today!

How to Recover After a House Fire

Posted on by TheSph3r3
How to Recover After a House Fire

How to handle the aftermath of a house fire.

A house fire can be a very devastating experience for any person or family. House fires almost always happen unexpectedly and move quickly through the home. Fires can cause a large amount of devastating damage in a matter of minutes. It can be daunting to know where to start after the fire is out. Here are some tips on how to recover after a house fire.

Make some calls. You’ll need to make plenty of phone calls after a fire, but here are a few important ones:

  • Family and friends – To let them know you’re safe.
  • Fire department – Be sure you have the all-clear from the fire department before heading back home.
  • Post office – Stop your mail delivery and switch to a post office box until you can return to your home permanently.
  • Insurance company – Your insurer can guide you through this difficult situation and assist you with your homeowners insurance policy.
  • Utilities – Freeze or cancel your services.
  • Landlord or mortgage lender – Keep your landlord or lender in the loop, as there may be changes or pauses in your rent or mortgage payments.
  • Bank/credit card company – You may need to cancel or replace your credit and debit cards if they were destroyed in the fire.

Inspect your property. Once you have gotten the approval to return home, do so safely. Walk around your property first, carefully noting any trees or power lines that could have been weakened or damaged by fire and water. Remember that things could still be hot, so approach your property with caution.

Create your personal property list. Begin working on your personal property list. If you didn’t already have a home inventory created, write down items the moment you remember them.

Secure safe housing. If your home is unlivable, make sure you have a safe place to stay. Restoration and rebuilding can take some time. Include your insurance company in your search so they can stay acquired with the situation.

Be sure that you have reliable homeowners insurance so that you can overcome any disaster. Contact All Nevada Insurance to get started on the right homeowners insurance policy to suit your needs, budget, and belongings!

Avoid These Bad Business Habits to Reduce Stress

Posted on by TheSph3r3
Avoid These Bad Business Habits to Reduce Stress

How to be less stressed at work.

Some stress in the workplace is normal. However, excessive stress can interfere with your productivity and performance, impact your physical and emotional health, and affect your relationships and home life. It can even mean the difference between success and failure on the job. Although you can’t control everything in your work environment, you can learn how to reduce your stress. Here are some bad habits to break so that you can lead a more stress-free life.

Bad habit #1: Sacrificing your downtime.

Everyone needs to take a break from work now and again. Many people’s first reaction is to tackle every task at once, cutting back on personal time to complete work. Remember that if you don’t take a break, you’re more likely to burn out and prevent yourself from being productive and will increase your stress levels. Yoga and mindfulness exercises are common ways to create a sense of peace and serenity. Be mindful to take breaks and then approach the work with a new perspective.

Bad habit #2: Saying no to help.

If you’re that person that never says ‘no’ to a being offered a task, then you’ll know that you may have work piling up around you. Going at it alone isn’t going to help yourself or the business. If you can, turn down tasks when you feel you have too much on your plate, or ask other colleagues for help. Delegating tasks can help alleviate some weight on your shoulders.

Bad habit #3: Being a perfectionist.

When you set unrealistic goals for yourself, you’re setting yourself up to fall short. Aim to do your best; no one can ask for more than that.

Whether you’re looking for a new and exciting franchise opportunity or business insurance for your growing endeavor, the team at All Nevada Insurance can help! Contact us today for more information.

Renters: Must-Dos Tasks to Handle Before You Move

Posted on by TheSph3r3
Renters: Must-Dos Tasks to Handle Before You Move

Essential tasks to complete before moving.

Are you about to move from your rented space into a new, rented space? If so, you may think that what lies ahead is an easy move and quick exchange of keys. However, there is much more to the move than that. From preparing your old space to getting ready for your new space to staying insured, here are the top things to do!

Measure the space. Despite best planning efforts, logistical issues are surprisingly common when people are moving familiar belongings into an unfamiliar space. Be sure that you know the dimensions of a room and the size of your furniture so that you can plan the space accordingly. Generally, it is a good idea to know which pieces will go into which rooms so that you can move furniture into the right places immediately.

Call ahead. If you are going to be moving into a multi-story building, it is a good idea to make arrangements with the building’s management team ahead of time. You may need to reserve the elevator. This is not something you want to land on them the morning of the move, especially if it is the last Saturday of the month and five other people are moving into the building, too.

Record conditions. Before you settle into your space, pull out your phone and take pictures of any damage such as scuffed floors, chipped countertops, or bent window blinds. Send the photos to yourself so that they are date-stamped. Pictures are great references if any issues come up with the apartment’s condition.

Stay insured. Most renters know that protecting their property with renter’s insurance is important, but many forget to update their policy when they move to a new residence. Renter’s insurance does not just protect your belongings, it also covers damage that you do to the building, too. Contact your insurance company before you move. It is an easy call to make and it will mean you enjoy the benefit of staying protected throughout the move!

Your new apartment needs the right insurance to protect it from accidents and disasters. Contact All Nevada Insurance to get started on your reliable renter’s insurance policy today.

Why Your Auto Insurer Needs to Know These Things

Posted on by TheSph3r3
Why Your Auto Insurer Needs to Know These Things

Information to prepare when you shop for auto insurance.

Are you getting ready to shop for car insurance? If you are, then there are certain pieces of personal information that you should get ready. Not only does this save you time down the line, but by providing this information, you can also receive a more accurate quote. Here’s what you should prepare.

Your social security number. Although you’re not required to disclose your SSN just to get a car insurance quote, you may not receive an accurate quote if you refuse. A large influencing factor on how much you pay for auto insurance premiums depends on your credit, and insurers can’t calculate that number without running a soft credit check using your social security number.

Your vehicle’s identification number (VIN). Even though you may have already entered your car’s year, make, and model, your vehicle’s VIN gives insurers a more detailed picture of your car. Insurers will then know if your car has any specific features that could save you money, such as car alarms and side airbags. You can typically find your VIN on your vehicle’s dashboard near the windshield on the driver’s side.

Your annual mileage. It stands to reason that the more you drive, the higher the chance it is you’re involved in a car crash. If you put a lot of miles on your ride, you statistically pose a larger financial risk to your insurance company. As a result, you may end up paying more in premiums than someone whose car barely leaves the driveway.

Are you ready to find reliable and affordable car insurance? Contact All Nevada Insurance to get started on the right policy to suit your needs, budget, and vehicle!

Are You Looking to Buy a Franchise? Here’s How to Start!

Posted on by TheSph3r3
How to Start a Franchise

Easy tips on how to get started with your franchise opportunity.

A franchise model offers a good track record, an established brand name, training programs, support, and marketing assistance. With all that at hand, it’s no surprise that many entrepreneurs are drawn to the built-in security. The best thing that you can do before buying a franchise is to research.

Here are some of the best ways to get started!

Attend franchise events. The International Franchise Expo hosts over 300 franchises and even more interested individuals. It’s a one-stop-shop in terms of basic information and networking, as well as determining which franchise opportunity you want to become a part of.

Talk to franchisors and franchisees. As an initial step, head to the franchise’s website and request more information or call them directly. Ask in-depth questions so that you fully understand the ins and outs of joining the team. If you want much of the truth, ask the franchisees directly about their experiences, including the support they’ve received. For a better hands-on look, see if you can shadow him or her for one day.

Ask consultants, lawyers. A franchise consultant, also called a broker or coach, can provide excellent advice, although keep in mind they are often working for the franchisor. This is a good route to go to avoid a mess later one down the road.

Perform a web search. The whole web is at your fingertips, so many the most of it! Find out everything you need to know, how you can prepare, view legal documents, and ensure there are no lawsuits filed against the chosen company.

Once you’ve decided to become a franchise business owner, check out All Nevada Insurance’s franchise opportunity. Find out more information by giving us a call today!

Tips to Build Credit for Recent College Graduates

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Tips to Build Credit for Recent College Graduates

Building credit once you’ve finished college.

Congratulations! You’ve successfully graduated from college! All that hard work has finally paid off. Now that you’ve navigated college, it’s time to assess your fiscal responsibility. Of all the things you need to accomplish after college, building a great credit score is one of the most important. If you’re like most recent college graduates, there’s still a lot to learn about personal finance that probably wasn’t covered in class. These simple tips can help you build credit and will serve you well throughout your life.

Get smart about your credit score.

You may have a lot on your mind right now and pumping up your credit score may be last on your list of things to do. However, you should know that credit scores are, sadly, increasingly used to measure our worth. Your score is supposed to represent the likelihood that you’ll repay a loan. Credit card scores are often checked by utility companies, landlords, employers, government agencies, and insurers. It’s worth taking the time to ramp up your score.

Apply for a credit card.

If you’re comfortable with doing so, apply for a credit card. Take time to assess the different choices on the market and talk to your bank to see if they can offer you a better deal. You want to keep annual payments low and charging expenses reasonable.

Pay off your balance in full each month.

This is a habit you should form right from the beginning – never charge more than you know you can pay each month. If you overspend and can’t pay in full, you’ll start to accrue interest. For first-time cardholders, interest rates can be very high.

Pay on time – every time.

Nothing matters to your credit more than making every single payment due on time. Your payment history largely influences your score and late payments are a big mark on your credit. One of the easiest ways to make sure you don’t miss that date is if your credit card company allows you to make automated payments from your bank account.

Don’t over-apply for credit.

The more often your credit report is examined by a creditor, the lower your score. Be selective about when you pull up your report, especially if you know you’ll need to get a car loan or credit from a store.

Find financial stability by securing reliable and affordable insurance policies. Contact the team at All Nevada Insurance for information on how to select adequate coverage for your needs.