First Week On Fiverr ($500 Earned)

Fiverr is a freelancing platform designed in Israel to provide users with the ability to purchase “gigs” for as little as $5.

Launched in 2010, the service has grown exponentially thanks in part to its availability to digital marketers – everyone from SEO’s to Amazon FBA power sellers outsourcing menial tasks to the experts offering their services through the platform.

By 2015, stories began to emerge of service providers making substantive revenue/profit from the system, with one – SPXMAC – reporting $40,000+ revenue per month (a remarkable achievement).

With this in mind, people with genuine skills, experience and expertise to offer have been drawn to providing their services through the system, me included.

To this end, I felt it appropriate to share some of the progress I made with the platform. It’s not a huge amount but might give some people insight into what works and what doesn’t.

Fiverr’s Online System (How It Works)

The most important thing to appreciate with Fiverr is that the provider has to create the offer for the client.

Whilst there are many other “freelancing” websites, they rely on the client putting up jobs/gigs and having providers facilitate by posting proposals. The client will then sift through the proposals and make a choice.

Due to the opposite nature of the Fiverr system, it’s opened a new way in which the “freelancing” system works.

Rather than pitching for work, the service provider is essentially able to provide a number of “products” / “services” through which they’re able to give buyers a more structured, systematic set of work.

For example, if you’re a logo provider – you’ll be selling your “logo design” service for $150 – to which buyers are able to come, ask questions and purchase.

The point is that this new model is different, and in many cases better, than the previous. It puts the entire focus onto the product/service being offered, and encourages the provider to systematize the delivery process as much as possible – allowing for even higher quality, cheaper prices and more effective service provision.

If you’re looking to create effective (profitable) products/services to list on the site, the key is understanding what buyers are actually looking for, and being able to facilitate that in the most streamlined way. This is where I began with my service offering.

Products / Services To Sell

Obviously, every marketplace / platform has its winners & losers.

The most important thing I have found on the platform is that there are really “two” ways to go about listing products/services:

  1. List products / services based on your experience – if you’re a graphic designer, create the likes of eBook covers, logo designs or website templates for menial fees
  2. List products / services based on market demand – as mentioned, many “digital marketers” use Fiverr as a source of inexpensive, but high quality, services for their growing online businesses

The first is likely going to take longer to bear much fruit; the latter will be much faster, but allow for less creativity in the offering.

I tend to try and blend the two – identify what’s popular and put my own slant on it.

Some of the most popular listings I’ve found are “Amazon Product Listing Descriptions” writing services. The most successful of these is “SPXMAC” who make upwards of $30k/$40k per month.

There are presently 3 providers of this service, typically receiving between 15 to 30 orders per day for their gigs. SPXMAC is definitely the leader.

My Experience

To explain, I didn’t do this under my own name; I helped a friend get set up and we shared the profits.

To do this, I started by listing a number of general services on the Fiverr system based on my friend’s experience in the real world (he was involved with finance).

We began with article writing – imagining that a number of high end “finance” blogs (who relied on quality, accurate and up-to-minute content) would be willing to hire an expert who had been involved with a large number of transactions, trades with a private consortium in London and is very well versed in technology as well.

I wrote out a profile listing which explained his work in the industry, his experiences and (importantly) why he was listing his services on Fiverr.

For the last part, I explained that he was looking to expand his personal brand, and felt that writing articles for money would be the most appropriate way to do it. Rather than sending in guest posts, it would give instant precedent to whoever was making the purchase.

This seemed to go down relatively well (with a number of blog operators buying his articles and using his name/face as an “author” on their sites).

In terms of the products we offered, the first thing we tried was a “Forex” article writing service. This wasn’t overly popular, as it’s a very crowded market and typically works in cycles (IE when the USD/GBP currency pair drops etc).

The thing that did extremely well was “crypto” articles – which we wrote for $25 for 10. This was very low, but allowed us to gain some progress in terms of the reviews / feedback on the system.

Most people who bought the packages would just let us determine which articles to write (we wrote mostly about the current trends in the market, the importance of blockchain, etc) – and began focusing on scaling up as much as possible.

The “crypto” articles were a good run (we made $500 each in the first week) but it was unsustainable at such a low price. We both got burned out, and as such we decided to increase the pricing somewhat – which significantly curtailed the amount of interest/throughput.

Nonetheless, the feedback earned and the quality of buyers improved significantly although the frequency of purchases did diminish.

Recommendations

The biggest thing I’ve found with my time online has been to use your own face.

I’ve done a number of things in the past under pseudonyms. Some of these were legit (running the second largest Webkinz site), but the majority were simply because I didn’t want people to find out what I was doing.

Whilst this was a legitimate reason to cover up my identity, the simple truth is that it prevented me growing very quickly at all. To this end, one of the key things I started to do for my friend was emphasize the importance of owning your name – ensuring that you put forward your unique experiences, ideas and expertise as the core essence of why someone should consider you.

If you do decide to get involved with Fiverr, I would suggest that it’s one of the few ways you can actually “own” your name online by providing actual content. Think of it as an extension to the likes of LinkedIn or Twitter – a “social” touch point through which the “online” community is able to engage with you.

 

Website Value Appraisal: How to Evaluate Your Website’s Value

Although there are many tools for calculating a website’s worth online, they may not always be accurate. It is for this reason that you ought to understand how to evaluate the value of your website. For example, some of these websites use only income gained from Google AdSense. This is wrong because numerous websites have many other income streams other than Google AdSense. Secondly, income from Google AdSense cannot be considered the standard of measuring ad income since it’s actually very low.

Another factor that has been wrongly used to measure the value of a website is Alexa ranking. Although this is a widely used measure, it is mainly based on the amount of traffic to a given website. To be considered, users must have an Alexa toolbar installed. This eliminates the count of many other visitors to a given site. Secondly, a high number of visitors to any given site does not necessarily equate to a high income. Income is mainly based on the business model that any site employs.

Accurate Methods of Determining a Website’s Value

Although these methods may appear tedious, they are the best approach in determining how much a website is worth. Another factor to bear in mind is that only a website’s owner can accurately calculate its worth. This is because only he or she has custody of the website’s data.

1. Amount of Revenue Generated

There are numerous ways to monetize a website. The most common include:

  • Offering ad space – examples include AdSense, Infolinks, and affiliates.
  • Product sales – examples include eBooks, brand caps, and T-shirts.
  • Subscription based payments – examples include online courses and membership based resources.

A website that has these, or any other way of generating income can be valued based on the amount of money it generates daily, monthly, or yearly.

2. The Age of a Website

This offers additional value to a website because search engines, especially Google place more value on it. This is based on a number of parameters including:

  • Brand recognition – the older a site is, the higher the possibility that it has grown into a known brand.
  • Number of backlinks – older websites have more backlinks that newer ones meaning higher traffic.
  • Trust – People will definitely place more trust in an older website than one that has just been created.

Although there may not be a definite monetary value, age places an older website at a higher value.

3. Domain Name

The factor you should consider here is the market potential of the domain name. A domain name can determine a brand’s competitiveness, marketability, and SEO. An easily recognizable domain name is easy to find and remember. This automatically translates to higher traffic and therefore higher potential income.

4. SEO Analysis

Websites vary greatly in terms of the way SEO has been applied. A site that has high quality SEO is definitely more visible than one that doesn’t. As such, it will be of higher value.

5. Web Content

There are websites that automatically attract numerous visitors, including unique pageviews due to the quality and the value of their content. One such example is a news site that is well written and has new content every day. Others are educational sites. Such sites will bear higher values owing to the value of their content. This is also an indicator of the amount of work that has been put into building the site.

6. A Website’s Assets

These are all the additional features that a website has in addition to the basic structure. These can include:

  • An advanced theme
  • An email list
  • Professional type plugins
  • A premium domain name

7. Traffic

A website that attracts a high amount of traffic has a higher potential of business than one that doesn’t. The higher the traffic, the higher the market value.

Top 5 Free Website Worth Calculators

The tools listed below are some of the best free tools for checking a website’s worth, based on the parameters they use.

1. Website Value

Website Value is free website value calculator that helps rank and estimate the value of your website using Alexa and Google rankings. Plus, it is able to estimate how much daily ad revenue your website brings in.

2. Website Outlook

This site evaluates the worth of a website based on Alexa Ranking, Dmoz listing, revenue from ads, daily page views, and so on. It is popular because it also offers suggestions on how to further improve the value of your site.

3. Your Website Value

The Your Website Value team brings 18 years of experience to help you appraise the worth of your website. It shows your web traffic graphically and also gives you a score based on how fast your page loads so you can troubleshoot potential drops in user traffic based on speed performance.

4. Website Value Calculator

Values not only scores your website but also gives you the name and value of the top websites online so you’d have an idea of how your site compares to more famous names like Google or Twitter.

5. Site Price

This is a free tool that uses an assortment of factors to calculate the worth of a given website. Its key pricing parameters include:

  • Number of daily visitors
  • Backlinks available
  • Visibility within search engines

 

How to Find the Best Insurance Agency

When you need coverage, you should look to your insurance agency to find the right policy. You might not be aware of some of the policies available to you. While you might think your traditional insurance will cover everything, you might be surprised to find out where traditional homeowner’s, rental, medical, and car coverage fall short.

Different Types of Coverage

If you should determine that you need any of these supplemental options, you should check with your insurance agency to find out whether they offer the coverage in question. Not all underwriters offer these policies. You may have to get these supplemental offerings from other agents.

If you have a dog, then you might want to purchase a dog bite or “pet liability” plan. While you might think that your four-legged friend would never harm anyone, there is always a chance that it could happen. According to the Insurance Information Institute, half of all incidents happen on the owner’s property. While homeowner’s liability may cover the medical costs, there can be complications, such as when incidents happen away from home. Having a specific dog bite policy will handle any unforeseen problems.

Those who live in coastal areas will want to get flood insurance. This protects your belongings from damage due to floods. What most homeowners don’t realize is that traditional homeowner’s plans do not cover this damage. That is why it is important to purchase these policies separately.

Burial coverage gives your surviving family members money to pay the cost of your funeral and burial. The cost is nominal, totaling only a few dollars a week or month. This policy is not often sold through a traditional insurance agency. You will either have to go to a broker or purchase from a funeral home.

Personal electronic equipment policies give you more protection than the standard homeowner’s plan. A traditional plan does not cover damage caused by installation errors. These programs offer repair or replacement of electronics such as computers, stereos, and televisions.

If you have valuable items like jewelry or high-end electronics, then you want to have supplemental coverage. While your homeowners plan does cover some items in the event of fire or theft, it does not cover everything.

Some businesses offer their full-time employees short-term disability. However, if your company is not one of those groups, you should look into having short-term disability added. Medical plans will help to cover bills from doctors and hospitals, but it will not help to cover normal monthly bills that can pile up if you have to miss work. While not all short-term disability programs are the same, it is something you should check into to ensure that you don’t fall behind on your bills.

 

Six Uncommon Policies Your Insurance Agency May Offer

You want your home and family to be protected in case of an accident. It is the best thing you can do. However, that protection can be a little fickle. Your insurance agency may reimburse you in the event of certain problems, but it might not provide funds for other issues. In fact, if you do not have some of these policies, you may be footing the bill yourself in the event of an accident.

Renter’s Policy

Everyone knows it’s a necessity to get an insurance agency to write a policy for a home, but many do not think about getting a policy when they are renting. Yes, your property owner has coverage for their property in the event of a fire or another incident. However, that policy does not cover your valuables. A typical policy only costs a few dollars a month and includes some liability coverage as well.

Pet Policies

Like your children, your four-legged family members need annual checkups and vaccinations in order to be in top health. In the event that they need an operation at some point, it can get expensive. You can check with your insurance agency to see if they offer coverage for your pet that will help offset some of their general care costs.

Antique Coverage

Having a homeowner or even a renter policy does not mean that your valuable antiques are protected. Some policies do not cover these items, as they can be costly to replace or restore. However, if you own valuable family heirlooms, you may check into additional coverage. In the event that something should happen to the property, you want to make sure you have full replacement value or restoration coverage.

Long-Term Care

Most employers offer some form of disability insurance. However, they do not always provide long-term care coverage. In the event you should need to go to a nursing home or require long-term home care, this type of policy can save you money in the end. If you purchase this policy when you are younger, you will not spend as much. However, they can be pricey if you are not careful. You may also only purchase one that pays for three to five years of service, as most holders need them for more than three years.

Longevity

Most people understand the need to put money back for their retirement. However, in some cases, even the best-laid plans can find you running out of money before you pass. By purchasing longevity plans from an insurance agency, you can help ensure you are not in a bind. This program allows you to receive a specified monthly amount beginning at age 85. For example, you purchase $50,000 indemnity at age 55. At age 85, you would begin receiving the same approximate amount yearly.

Wedding

Wedding plans are nominal in cost, but they can save you a lot of frustration. The average cost of the big day can be upwards of $24,000. If you have to postpone it due to inclement weather or the death of a family member, you could spend as much to get it back on track. Having something in place to help you in the event your big day doesn’t go as planned is a good idea.

 

The Three Most Common Types of Insurance

There are many insurance plans available to offer coverage for various sorts of damage or accidents. All families should have at least one of these three.

Types of Homeowners Policies

Homeowner’s insurance falls under one of six categories. HO-1 and HO-2, as they are more commonly known, cover only the property against specifically listed damage. These policies vary as to what damage is covered, and neither protects belongings located on the property. HO-2 forms offer more coverage than an HO-1.

HO-3 protects against all types of damage, not just specifically listed damage. It also protects a select list of belongings located within the structure from specific damage.

HO-4 and HO-6 cover only belongings. Renters use these policies as the landlord or management company holds coverage on the dwelling. As with HO-1 and HO-2, HO-6 offers greater protection than HO-4 and is more expensive.

HO-5 is similar to HO-3 in that it covers the property as well as personal belongings. The difference is that HO-5 covers all belongings, not just a set few. It is also more costly than some of the others, but it is worth it.

Types of Medical Options

Medical is another common form of insurance, and as with homeowners, there are different kinds for you or your employer to choose.

Health Maintenance Organization, or HMO, is one of the most used types. This plan allows you to choose from a network of providers, and it also includes preventative care. However, you must be referred by your primary care physician in order to see a specialist. There is also a small copay you must pay at each appointment.

The Preferred Provider Organization, or PPO, also has a network of doctors available. Unlike an HMO, you do not have to choose a primary care provider. You can see any physician, or even a specialist, as long as he is in network. Also, you do not have to have a referral to change doctors. As with other plans, each visit requires a copay.

Exclusive Provider Organization, or EPO, works very similar to HMOs and PPOs. These cost less and have a network of providers available. However, unlike a PPO, where an out of network doctor visit is covered up to a point, there is no out of network coverage for these plans.

The Point of Service Plan, or POS, is a hybrid between an HMO and PPO. POS requires a primary care provider assignment, but you can see out-of-network doctors if you are willing to pay a higher copay.

Different Auto Coverage

Auto insurance is also widely used. Depending on your loan terms and state requirements, some options may be unavailable to you.

Liability plans cover damage and medical bills in the event the accident was deemed your fault. It only covers the damage done to the other person’s property as well as any of their medical bills. Most states require this as minimal coverage. It is also the most inexpensive option available.

Collision coverage will pay for repairs to your vehicle in the event of an accident. This type of insurance is worth having, in addition to liability coverage, even if you have an older vehicle that has no lien. In the event that your vehicle is totaled, your plan covers the value of your car. This policy is required for those with lienholders.

Comprehensive coverage covers anything unrelated to an accident like if your vehicle is stolen or you hit a deer. For most lienholders, this is a requirement.

Uninsured motorist is something that everyone should consider. While most states require at least liability coverage, some drivers don’t keep the plans much past getting their license or tags. This policy protects you in case someone else causes damage and doesn’t have a plan in place to pay for repairs.

 

The Importance of Insurance Reviews

Most people reach out to their insurance brokers or underwriters when there is a significant event in their lives that necessitates new or revised risk coverage – perhaps when they purchase a new home or it’s time to trade-in the old car. However, far fewer remember to review their insurance at regular intervals or when more subtle changes to their coverage requirements occur.

Reviewing your insurance regularly helps ensure your coverage is what you expect it to be in the unfortunate circumstance that you need to file a claim. It also aids in making informed decisions regarding coverage and being proactive about minimizing your insurance costs.

There are many different circumstances that could possibly change your coverage requirements and prompt a call to an insurance professional for a review. The examples below identify some of the instances in which you might want to review your coverage:

    • Renovations – If you perform renovations to your house, it is likely that you are also increasing its value. Whether it’s a new kitchen, bathroom, pool, or even expensive landscaping, remember to check your policy limits to ensure they remain adequate in case of an insured loss. If you’ve recently renovated your basement, also note it is quite likely that your water damage insurance needs to be reviewed.

 

    • You’ve been accumulating possessions – Have you done a home inventory lately? Most people have more personal possessions than they think. Estimating the total value of your contents is vital to helping ensure your limits are adequate.

 

    • You’ve purchased a high value item – Remember that some of your personal possessions have to be scheduled to be properly covered. Jewellery, antiques, collectibles, wine collections, and art are a few examples of pieces that may require additional coverage.

 

    • New coverages have become available – The insurance industry frequently adapts to changing market conditions and offers coverage in areas that it has not in the past. For homeowners, insurance for overland water damage and home repair issues (such as broken furnaces) have recently become available from some insurers, in some areas. In addition, legal expense insurance, travel insurance, and pet insurance are available from brokers looking to cover more of your risk and insurance needs.

 

    • Laws changing to give you more or less choice – Changes to automobile accident benefits mean you should review your choices.

 

    • You become eligible for additional discounts – Changes in your personal circumstances may affect your eligibility for policy discounts. For example, if you install an alarm system you are likely eligible for a discount on your homeowner policy. If you use snow tires on your vehicle, many insurers offer a discount on your car insurance policy. If you pass the age of 50-55, you may become eligible for mature driver discounts.

 

    • If you change jobs and have a shorter commute – You should report this to your insurance broker as driving less typically correlates to lower risk and less expensive premiums. If you have a certain job occupation, you may also be eligible for lower insurance rates.

 

    • You’ve started a home business – A different use of your home, other than strictly residential, may require business insurance to properly cover liability risks.

 

    • Your personal circumstances change – If you get married or have children, you may want to review your coverage to ensure your coverage levels are adequate to look after your dependents in case of an accident.

 

    • Your child gets a driver’s licence – Always check to see if your child can be added to your policy. It is often the least expensive option for insuring them to drive. If they get their own car, you are also probably eligible for a multi-car discount.

 

    • If your child moves away to attend college or university – Check to see if your homeowners coverage can be extended to protect your child’s assets while away at school. It may be more cost-effective that purchasing a standalone tenants insurance policy.

 

  • If you haven’t had an insurance review in more than a year – Your coverage levels may be out of date. A key example of this is your home insurance. Property values and replacement costs can easily rise to the point that your existing coverage limits do not allow for the total reconstruction of your home in the case of a total loss.

Taking the time to speak to your insurance professional is always time well spent. Even if you don’t save on your insurance costs after the call, there is no substitute for having the coverage you expect when a claim becomes necessary. Since most insurance policies are for the term of one-year, it is a good idea to speak to your insurance professional before renewing your annual coverage.

 

Best Online Child Insurance in India

If you are evaluating various investments and saving schemes to build a solid corpus to fund your growing child’s higher education and other important events of his life, search and compare child insurance plans. Giving college education to children has become very difficult without proper planning unless you are very rich. Child insurance plans promote systematic savings and good returns on your investment. The insurance quotient of these plans makes them an invincible product to cater child needs and fortifying his future. These plans fall under the category of investment cum insurance plans. Unlike other popular saving and investing schemes like Mutual funds, Public provident fund (PPF), National savings scheme (NSC) etc the child insurance plans protect the child from the financial hazards arising from untimely death of the policyholder parent.

In the event of the unfortunate demise of the policy taking parent the insurance company waives off the remaining premiums and continues the policy. The company pays the sum assured to the child at the maturity of the policy. To understand the plan better you may take assistance from a qualified life insurance expert. Child insurance plans can be either participating life insurance plans or non-participating life insurance plans. In participating plans you are eligible to share the profits of the company in proportion to the premium paid by you along with the sum assured. In non-participating plans you get the guaranteed maturity benefit and death benefit with no share in the profits.

Some people argue that why they should have child insurance plan and start paying premiums now when there are options of education loans available. They strengthen their argument by saying that at present they don’t know the potential of their child. Maybe when he grows up he won’t go for higher education or would have some other talent like entrepreneurship. To such parents the answer would be, these plans help generating a good amount of corpus and readies the child with a good amount of money that can be either invested in studies or in some business or in any other important event like marriage.

Education loans are a good option and are very popular but they put a big burden of repayment on your child’s shoulders right from the starting of their careers. Such burden compels them to take a good employment in order to be able to pay off the loans. In the pressure of such burden they can’t even think of taking up entrepreneurship as they can’t afford the gestation period. Moreover, in some cases their other life goals like getting married or buying a house get delayed.

If you are planning for the future of your child you go for a judicial mix of insurance, self finance and loan so that the child also becomes responsible. Compare online child insurance plans to learn a range of features companies are providing and save on the purchase. An educated customer is likely to make a smarter purchase thus, gather as much information as you can in your busy schedule and then plan wis

Quick Guide to An Insurance Claim

Before anything else, we first have to understand what an insurance claim is. This way we can better appreciate the whole procedure and it simply becomes easy to go through because we already know what to do step by step, in relation to the whole process.

A claim is when you ask the insurance company to compensate you for damages you have sustained after a car accident, or when you ask the insurance company to represent you or intervene on your behalf when you are liable for damages.

You pay a lot of money for your car insurance, so it makes sense that if you are involved in an accident, you will want to make a claim. Depending on whether the accident is responsible, or not responsible, and the type of damage, your insurance company will be able to provide coverage based on the kind of car insurance coverage you have.

Claims can be paid from the comprehensive coverage, collision coverage, or any of the minimum car insurance requirement sections, such as liability. Claims may also be paid from multiple sections of your policy depending on the circumstances of your car crash.

If you are wondering whether your collision claims process will be more difficult to bear than the accident itself, the good news is that filing a claim is usually fairly simple. By following a systematic approach and carefully recording what has happened, you can gather all of the information you need. The following guidelines will help you ensure the process goes smoothly.

ON THE ACCIDENT SCENE

One of the best ways to speed up the entire claims process is to get off to the right start, and that begins at the accident scene itself. The more good information and evidence you can collect there, the better.

Here’s what to get:

  • Personal Data: Try to get basic personal information from everyone at the scene. That includes all other drivers, passengers, and bystanders. Get their names, phone numbers, and home and email addresses. Anything that will make it easier to find them later. If you have time, take some notes about what each witness saw and heard. Pass all of this information along to your claims adjuster, but be sure to keep copies for yourself.
  • Insurance Information: This is particularly important. Make sure to exchange insurance information with the drivers of all vehicles involved in the accident. It’s probably going to be the first thing your adjuster asks you for.
  • Pictures: Take a bunch of photos of the accident scene. If you can get pictures before the vehicles are moved out of the way, great, but don’t create a dangerous situation just to take them. Definitely take photos of all damages to your car, every other vehicle involved, and anything else. Take a few pictures of the accident location as well. A few different angles are always helpful. Take pictures of the parties involved and all witnesses, if you can. And, finally, take photos of each party’s insurance card.
  • Law Enforcement: Always call the police after an accident. They may or may not be able to respond, but it’s always worth a try. When they arrive, make sure to get the officers’ names. They will gather their own information and take interviews for their report, and instruct you on how to obtain a copy the report once it is written up. Hold onto whatever paperwork they give you and pass on copies to your adjuster.

Contact Your Insurer ASAP

I’m sure you’ve heard the saying, “most crimes are solved in the first 48 hours after the incident.” That’s because the crime scene remains intact and the details are still fresh in the minds of the witnesses. It’s kind of like that with an auto accident. We’re not talking about a crime here (I hope), but the idea still works. The sooner you contact your insurer, the easier it will be for them to make the inquiries they need to get the most accurate data. It’s not a bad idea to call them from the scene of the accident, if possible.

Be Cooperative and Prompt

Most small accidents are relatively simple for your adjuster to handle. He or she has done them hundreds of times over. That doesn’t mean that a claim can’t be held up by some missing piece of evidence or information.

If your adjuster calls you and leaves a message to call him or her back, do it as soon as you can. Good communication between insurer and claimant is vital. Plus, it’s hard to complain about slow processing if you’re the one holding it up.

Be Honest

This rule seems obvious, but not everyone follows it. It’s human to want to avoid pain, and admitting that you are at fault for your accident can be pretty painful. But if you are at fault, don’t try to get out of it by lying. First of all, insurance adjusters have a lot of experience with accidents and fibbers.

They’re really good about figuring out what actually happened and that can be pretty bad for you if you are less than forthcoming with the facts. Remember “Double Indemnity”? Insurance fraud is frowned upon and could cost you a lot more money than the premium increase you’ll likely get by admitting fault.

And if you’re looking for a speedy conclusion to the claims process, being dishonest will surely slow it down, and sometimes bring it to a crashing halt.

 

What Is Insurance?

As we know one way of risk prevention is to insure a risk to the insurance company. This method is considered the most important method in tackling risk. Therefore many people think that risk management is the same as insurance. Though the actual circumstances are not so.

Insurance means the insurance transaction, which involves two parties, the insured and the insurer. Where the insurer guarantees the insured person, that he will be reimbursed for a loss which he may suffer, as a result of an event that would not necessarily occur or which could not be determined when or when it occurred. As the insured in the obligation to pay some money to the insurer, the amount of proportion of the sum insured, commonly called “premium”.

Viewed from several angles, the insurance has a variety of goals and techniques of splitting, among others:

A. From an economic perspective, then:
The goal:
Reducing the uncertainty of the results of operations undertaken by a person or company in order to meet the needs or achieve goals.

Technique:
By transferring the risk to the other party and the other party combining a considerable amount of risk, so it can be estimated with more precise the magnitude of the possibility of loss.

B. In terms of Law, then:
The goal:
Transferring the risks faced by an object or a business activity to another party.

Technique:
Through premium payments by the insured to the insurer in the indemnity contract (insurance policy), then the risk of transferring to the insurer.

C. In terms of Trade, then:
The goal:
Share the risks faced to all participants of the insurance program.

Technique:
Transferred risk from individuals / companies to financial institutions engaged in risk management (insurance companies), which will share the risk to all participants of the insurance it handles.

D. From a societal standpoint, then:
The goal:
Bear losses jointly among all participants of the insurance program.

Technique:
All group members (group members) of the insurance program contribute (in the form of premiums) to sympathize losses suffered by a / some of its members.

E. In terms of Mathematics, then:
The goal:
Predict the magnitude of the possibility of risk and the outcome of the forecast is used to divide the risk to all participants (group of participants) insurance program.

 

Baking Soda to the Rescue With These 6 Problems

Baking soda is not just an ingredient you use in your cooking efforts to make the best chocolate chip cookies. Believe it or not, this item has a ton of uses in home cleaning, which you will do well to consider the next time you are engaged in any such activity. It is an excellent abrasive, which is quite effective and also gentle enough. It possesses superb deodorising properties and can easily be your go-to solution for some cleaning emergencies. Here are some of the uses you should know about:

  • Remove bad odours from a fridge – if you are worried that last night’s yummy but smelly fish dish will leave a lasting scent in your fridge, you should know that baking soda is the solution to this problem. It can absorb any negative smells in the refrigerator so that they don’t linger inside and transfer to other foods in the area.
  • Clean stains from plastic food containers – food leftovers usually leave a mark on food containers. To clean them, you must wipe with a sponge and the soda. Alternatively, you can remove stains by soaking them in a solution of 4 tbsp. baking soda with a quart of warm water. That is a quick and scrub-free method of cleaning plastic containers.
  • Scrub kitchen surfaces – keeping kitchen surfaces clean is a must since that is where you prepare your food. You will be happy to learn that pretty much every area in there can be cleaned with the aid of baking soda. When you combine it with water, you can pretty much deal with the gunk on stainless steel sinks, cooking utensils, range hood, microwave and other small appliances as well as countertops. Baking soda sure is quite universal.
  • Deal with greasy pans and dishes – when your cooking efforts result in a mess; you can quickly deal with the aftermath. Baked-on food can be addressed with a pinch of it and dish soap. Pretty much all you need to dissolve the greasy stains is a hot water soak of dirty items, a scrub sponge and some baking soda. Well, some elbow grease as well.
  • Remove musty smell from upholstery – if your soft furnishings have developed an unpleasant musty smell, it is time to banish it with it. Sprinkle a generous amount of soda on the surfaces and let it sit for 15 minutes. Then, vacuum up the area. It works like a charm on your mattress too! You can also use it to remove strong odours from pet beds, as a safe alternative to any other cleaning solution out there.
  • Freshen smelly shoes – your gym class shoes may not be the most pleasant thing in the world, but you can still freshen them by sprinkling some soda inside. Tap out any amount of soda before wearing them again, or use the vacuum cleaner.

As you can see, baking soda is quite versatile in cleaning multiple areas of your home. It is up to you to include this fantastic solution in your cleaning rounds – it is cheap and eco-friendly!