Category Archives: Finance

Why do you need a reputed accounting firm?

There are a variety of services that are being offered by accounting firms today. The scope of the services that are provided by such firms tend to vary according to their knowledge, expertise and experience. This is the reason why you must choose a good and reputed accounting firm to handle your affairs. Some of the common services that any accounting firm will provide is preparation of final accounts, managerial advisory services, etc.

However, if you go for a reputed firm, they will be in a position to provide you with many other services that other firms will not. Thus, here is a list of some other specialised services that the MMG Archbold Accountancy Firm Scotland provides to its clients.

External Auditing

External auditing is one of the most important services provided by an accounting firm. This basically focuses on critically examining the financial statements by a certified public accountant. It is done so that it can be checked if the final accounts have been drawn up properly or not. Also, the certified public accountant checks the fairness of the contents of the financial statements. (more…)

Temporary Auto Insurance- Things You Should Know About

Temporary Auto InsuranceTemporary auto insurance is simply an insurance policy that will last for approximately 1 to 28 days. Such insurance policies can prove to be beneficial for drivers who want to drive a different vehicle for a short time.

In most cases, you need to be above 21 years of age with a driving license that is clean in all respects, to be able to get a temporary car insurance. These policies could be taken along with the annual auto insurance policy to fill out for any gaps present in the main policy.

There are many positive aspects of getting a temporary auto insurance. Here are four of the best benefits that you get through this kind of auto insurances.

Risk Free No claims bonus

Temporary car insurance policy will never interfere with the ‘no claims bonus’ that you get for your main insurance policy. This means that even if you have to claim your temporary insurance plan, that will not interfere with any no claims bonuses that you’ve built up in your primary policy.

This is really a significant benefit as no claim bonuses can add up to provide you with some good savings on automobile insurance. If you haven’t claimed for a minimum of 3 years then you may be entitled for anywhere between 15 and 50 percent discount on standard car insurance.

Instant Cover

In some cases there is a need for an instant coverage. There may be an emergency where you need to drive an automobile you are not presently insured for. Temporary auto insurance can solve this problem as you can easily contact the insurance company (by phone or through online mediums) and obtain instant coverage for the specified car. This means that you can act quickly in emergency situations and actually be legally covered when driving.

Add another driver in the temporary car insurance policy

Temporary car insurance can also be an effective way to temporarily add another driver to your car policy. This can ensure that even if you need to lend your car to a different driver, the driver will be financially covered while driving. For instance, one of your relatives may just be driving your car for practice. Temporary insurance policy will provide the necessary cover in such cases and will insure the driver for a maximum of 28 days.

More flexibility

Temporary insurance for your automobile is a great way to supplement all the lacunae present in your main policy. For example, many people are in a habit of replacing their cars every year. Insurance companies may charge extra fees to switch an existing policy to a new car. Get your auto insurance quotes now, and get to a better state.

If you plan to buy a new car when your main policy is nearing its renewal, it may be sensible to have a temporary insurance policy at the end of your current policy. This can enable you to cover your existing car temporarily till you have bought your new car. After that you can have a long-term policy for your new car right from the start. This could save you from paying extra charges as well as give you more time to look for the best policy that suits your needs.

Temporary insurances can offer quick access to short-term plans and can be a convenient way to get coverage for an emergency or when you need to bridge the time gap between two long-term policies.


Auto Insurance in Kentucky

Auto Insurance in KentuckyAuto insurance in Kentucky is mandatory if you wish to operate a motor vehicle on the roads and highways of the commonwealth. Auto insurance is mandatory so that in the event of an accident, any damage you cause to another driver and his or her property is covered, and that you are covered if the other driver is found to be at fault. Most states now require mandatory auto insurance to ensure that all drivers and their property are covered in the event of an accident.

Types of Auto Insurance in Kentucky

There are two basic types of auto insurance you can purchase in the commonwealth of Kentucky; these are full coverage insurance and liability insurance. Full coverage insurance is mandatory if a bank or other financial institution has a lien against your vehicle. The reason for this is to protect the financial institution against loss in the event that you have an accident. Full coverage insurance protects the financial institution by paying for all damage to your vehicle no matter who is at fault; even if your car is totaled, the financial institution will still receive at least enough cash to pay off the loan on the vehicle.

If your car is paid off you can carry liability insurance if you choose, liability insurance is much less expensive than full coverage. The reason this type of insurance costs less is because it only covers damages that you do to another person or their property if you are at fault during an automobile accident. Any damages to you, your vehicle, or your property will need to be covered by you, or the insurance company of the other driver if they are at fault. If you decide to purchase liability Auto insurance in Kentucky, you must ensure that the coverage meets state minimum requirements. Most insurance companies that sell insurance within the commonwealth are aware of the state minimums and create insurance policies that meet the minimum requirements, but as a driver, you should be aware of these minimums as well.

Insurance Minimums for the State of Kentucky

When purchasing liability auto insurance in Kentucky the minimum coverage amounts that you want to look for are 25,000/50,000/10,000. These are the shorthand numbers for minimum coverage; each of the numbers has an exact meaning. The $25,000-dollar number is the minimum coverage, which is required to cover bodily injury to or the death of one person in any one accident. The $50,000 dollar amount covers bodily injury or death if there are two or more people involved in the accident. There is a limit of $25,000 dollars per person. The $10,000 dollar amount is the minimum coverage for the destruction of property due to an accident where you are at fault.

Presenting Proof of Insurance in Kentucky

Many people try to avoid purchasing auto insurance in Kentucky, but the state has created several different methods of ensuring that all residents of the state carry at least the minimum amount of insurance as described above. One of the ways they do this is by requiring you to show proof that you have insurance. You must show proof of insurance any time you are requested to do so by a law enforcement officer. You must also show proof of insurance when you are registering a vehicle. Another policy in the state of Kentucky is that the state requires that all insurance providers report all of their active policies each month. This list of active policies is compared to the number of licensed drivers in the state, if someone is found not to have insurance, they will be contacted and required to provide proof of insurance within a set amount of time.

If you fail to carry the proper amount of auto insurance in Kentucky, the penalties include the loss of your vehicle plates and suspension of your driver’s license. If you cannot show proof of insurance when asked by a law enforcement officer you may be fined $500 to $1,000, you could be sentenced to 90 days in jail, or both.
You should also be aware that within the commonwealth of Kentucky, insurance companies are required to inform the state if you drop you insurance, or if they cancel you policy. If this happens, you will be asked to send proof of a new policy for your vehicle.

Overview of Auto insurance

Auto insurance is one of the most popular types of insurance taken by millions of people around the world to safeguard the damages and liabilities on their vehicles. It is more a necessity then a luxury and acts as a safety net for your automobiles. In simple terms, auto insurance is, like any other kind of insurance, gets you insured against damage, in this case your vehicle damage. It is an agreement between you and your insurance company whereby you need to pay a premium regularly and in case if your vehicle gets damaged in the event of any accident, the company will pay all your liabilities. The amount of liability depends upon the nature of the coverage plan.

Auto insurance needs you to get acquainted with two terms, the first one is premium, the amount that you regularly need to invest with the insurance company and deductible and the second term is deductible, and the amount you are liable to pay in case of any liability on damage to your vehicle. The deductible amount is mentioned beforehand in your insurance policy. Different insurance companies have different coverage plans and the damages that each of these plans cover also differ. So some of the insurance plan covers expenses on accidents and damages and pays the repairing cost, legal fees or any kind of medical coverage while the others include the liability when the car gets stolen or is somehow vandalized. You can save money on auto insurance with American Automobile Association

Types of Auto Insurance Coverage

As mentioned earlier, auto insurance is a wide term and includes a variety of coverage at different price. Some of the different and more popular types of coverage offered by auto insurance companies are listed below:

Liability if the Body gets injured:

One of the most commonly preferred coverage plan, the bodily injured liability is a type of coverage that includes expenses related to medicines, hospital bills, treatment costs, operation costs, lost income due to the accident and in some cases may even include the funeral expenses of those, who have been injured by your vehicle. This kind of insurance finds preference among many people since they even cover the legal expenses as well as any cost related to it.

Property Damage Liability:

Another popular coverage, this coverage plan includes any kind of liability that falls upon you by damaging anyone else’s property and includes all the repairing charges.

Liability on Collision:

Irrespective of whose fault it is, this kind of insurance safeguards you against all the damages that might have taken place due to collision with other cars. This includes your car as well as the other person’s car and even arrange for reimbursement if it has not been your fault.

Comprehensive Losses:

This is a comprehensive insurance package that includes everything other than collision. This may include theft, vandalism, fire, natural disaster, animal attacks and more.

These are only some of the coverage plans. You can compare the coverage costs of various insurance companies and then decide the one that cater to your need as well as your budget. Accidents are something that always happens without any predictions and you really need to take the help of auto insurance to evade the consequences of it.


Car Loans For The Unemployed – Are They Available?

Are car loans for the unemployed actually available? The surprising answer to this question is that yes there are companies out there that will give you a loan in order to get a new car even if you are unemployed, but clearly there will be some rules and regulations that you need to be aware of prior to going ahead and applying for this type of funding. That being said, the information that follows may prove to be quite useful to a number of people.

Car LoansYou will also find that they are available in both a secured format as well as unsecured and what this means is that some companies will give you the money if it is tied into some kind of asset such as a house, whilst others will not require any assets as they see the car as being the way to recover their money should you miss your payments. Yet again this is another reason why you need to shop around first in order to find the type of loan that is going to suit your circumstances, but as you look around you will also notice a difference in rates, so it is worth looking at those in more detail as well. You will probably find that the loan rates for a secured loan will be lower than those for an unsecured loan. For example, home equity loan rates will likely be lower than those for an unsecured personal loan because banks can be guaranteed some collateral should you default.

You will also find that they are available in both a secured format as well as unsecured and what this means is that some companies will give you the money if it is tied into some kind of asset such as a house, whilst others will not require any assets as they see the car as being the way to recover their money should you miss your payments. Yet again this is another reason why you need to shop around first in order to find the type of loan that is going to suit your circumstances, but as you look around you will also notice a difference in rates, so it is worth looking at those in more detail as well.