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... for the homeowner. What is the second homeowner to do? Does your personal homeowner's insurance cover these damages? Should you go through your rental websites such as Airbnb or VRBO? These issues can cause a lot of stress for landlords. Many times second homeowners may live far away or even in a different state. Welcome to the what if's of managing a home through the online vacation rental marketplace. When renting out a cabin, you do have insurance options.So many families buy second homes in ski towns like Big Bear Lake, California with the hope of renting them out. Popular online vacation rental companies like Airbnb can make the rental process easy. It may sound like a simple way to produce some extra income. When purchasing that ski cabin amidst the pines of the San Bernardino Mountains many homeowners don't think about what kind of insurance do you need for your short-term rental property? Many second homeowners may not even be aware that companies like Airbnb and HomeAway offer their own insurance policies. Airbnb's Host Protection is here to help I decided to rent out my home through Airbnb a few years back. After months of successfully profiting off of my vacant second home, I had no idea what to do when a guest purposely damaged my home. Should I use my personal homeowner's insurance? Should I contact Airbnb and open a claim? My mountain retreat under the tall Jeffrey Pines near Big Bear Lake was my serene cabin to escape to. I decided to rent it out to skiers and travelers for some extra income one ski season. After my renter moved out, I discovered ...

... ? Some people like the adventure of life and don't want to think about retirement. My mantra is Don't think retirement. Think rehirement! ' We live in a world where the average 65-year-old has another 12-20 years to live. Yet many people in this group have only a few thousand dollars in savings. Keeping the mind and body active and the money flowing in are more important than ever. Retirement suits some people, and to them I say bravo. Others prefer to think of this period as achieving financial independence, which has a nicer ring to it because it suggests choice. The word retire' makes me think of a long goodnight. That said, I'd still suggest that you go through the exercise of thinking about and planning your exit strategy. We spend our entire lives climbing a mountain, often forgetting that we'll have to climb back down eventually. What's your exit strategy? How do you want to climb back down the mountain? Work backward from your exit strategy to see if you're on course. Michael Gerber, author of The E-Myth, ' defines the entrepreneur myth' of being your own boss. You have an entrepreneurial seizure and decide that you're going to be your own boss. The problem is that going into business for yourself has a very low long-term success rate. Fewer than 10% of new businesses survive. With so much to do — for which you aren't trained and which you often don't even like doing — you have less time to do what you really want. Planning is a vital element in the success of any business. Some people loathe ...

... CompleteMarkets Editor , david goodwin This content has not been rated yet. Through the years I have seen Life policy applications and agents' reports with erroneous information. You probably have, too. I don't mean judgment calls with room for honest disagreement; I mean downright wrong information. One of the most common untruths may be the statement that a new policy will not replace an existing policy, when in fact it will. The agent may save the trouble of bothering with replacement forms, but he or she also may be buying a big problem. Here's an example: A businessman bought a Life policy for $250,000 and a second policy less than a year later. The application for the second policy contained some misrepresentations: (1 ) It indicated that the applicant (an avid mountain climber) had not climbed within the last three years. (2 ) It stated that the new insurance was not intended to be a replacement policy. (3 ) It stated that the preexisting policy was for $40,000 in benefits, rather than for $250,000. When the second policy arrived, the insured discontinued paying premiums on the first. Within a year, he died in a mountain- climbing accident. The second insurer denied the Life claim on the grounds of the misrepresentations in the application. The decedent's widow sued the insurer, and a Washington district court ruled in her favor. The insurer appealed. The higher court found that the insurer could raise a misrepresentation defense. The appellate court noted that when the Life insurance policy was issued to the decedent ...

... for these companies. One survey discovered that although customers were quite satisfied with our client's services, they had minimal needs; no amount of marketing could generate additional sales from these customers. A second survey revealed a high level of customer satisfaction, together with a rapidly aging customer base, many of whom had been with the insurance agency since it opened its doors. The research dramatized the need to replace this customer segment with new, younger clients. Without this objective data, the agency might not have made a serious commitment to attract new customers. The third survey uncovered low customer satisfaction due to past problems at the business. Although a core of loyal customers remained, many were dissatisfied and wouldn't use the services of this company again. Reversing this attitude would be like climbing a very steep mountain with no mountain gear. It would be far more cost effective to allocate marketing dollars for changing the company's reputation and attracting new customers. Without this research, the client would have continued down a dead-end path. There are many approaches to research that offer insightful and timely input to help management make informed decisions. Qualitative research such as focus groups, telephone interviews, Web, and open-ended surveys help identify the more subtle aspects of the client's product and service, while quantitative research such as closed-end surveys and e-surveys give hard figures and percentages, but can miss the nuances of open-ended questions. In most cases, a combination of qualitative and quantitative research produces the best results. STEPS TO SUCCESS To guide your marketing research process, follow these steps: 1. Define your objectives. A clear ...

... With computers you have the capability of writing and tying-in your specialty letters and direct mail letters, as well as following up on your single-line clients. If you're buying a system that doesn't have this word processing capability, it is already obsolete. With our word processor, we do direct mail, mass marketing with personal letters-sending a similar or repetitive letter to the same accounts every so often. You can keep track of business lists, homeowners lists, auto owners, boxholders, and so on with a computer. BE YOURSELF When advertising your agency, one of the most difficult rules to follow is to be yourself. Don't try to be something different. You must determine within your agency who and what you are and what your staff is. For example, we happen to live in a mountain area, so we bill ourselves as mountain people. We think that's important because that's the kind of folks we deal with. If you're very involved in one type of business, then you should look at yourself in that vein and promote yourself in that vein. When you relate to those people, make it clear that you are people who know that particular business. My favorite sales story is about the two shoe companies that decided to expand into Africa. Both sent salespeople. The first salesperson arrived and wired home: Send money for return ticket. No one hear wears shoes. The second salesperson wired home: We hit a bonanza, no one here wears shoes. Both said exactly the same thing, both had exactly the opposite viewpoints. And both probably did what was in the best ...

... principals, producers, and the long-term anti-system employees. What can you do about it? Agency principals who actually think they operate the agency can be taught to be system-literate or to depend on someone who is for all transactions. Outside producers present another problem. Those who produce business must, of necessity, gather data. The integrity of that data has never been highly dependable. It is sometimes even void of any known body of insurance fact- but there's a solution. The producer must be equipped with appropriate forms that are native of the system. (In our opinion, any use of nonstandard forms, such as cocktail napkins, would be a breach of the system and therefore not system-friendly.) With the employees who have been with the agency since the original tablets came down the mountain, you're in for a special treat. Anti-system staff personnel will either have to adapt or leave! How do you find out if the system is working? You must audit the resultant transactional flow of the previously mentioned nine components. It must be done as a separate audit system, and should be effected by someone who can objectively examine paper or media trail. In other words, don't let the people audit their own trails. Many agencies use Personal or Commercial lines managers for this important function. A manager can thus learn the strengths and weaknesses of the personnel they're supervising and find training opportunities. The audit format should reflect agency policy concerning how each of the nine functional components is supposed to work. For example, if it is the agency's policy to offer Commercial Umbrellas to each ...

... , figurines, and so on? 2. Do you own any jewelry? 3. Furs? 4. Valuable camera equipment? 5. Do you frequently carry, or keep in your home, more than $200 cash? 6. Do you have a coin or stamp collection? 7. Do you own any guns? 8. Would you prefer to cover your personal belongings for their full replacement value (i.e., no deduction for depreciation?) 9. Would you be interested in adding Earthquake or Flood insurance to your Homeowners protection? 10.Do you presently have either a burglar, fire or smoke alarm in your home? 11.Would you like an estimate of your home's replacement cost at today's prices? 12.Do you own a second home or any other real property, such as a mountain cabin or farm property? 13.Are you presently engaged in any form of farming or ranching? 14.Do you conduct any business or give private lessons in your home? 15.Do you own any boats, motorbikes, or other recreational vehicles, such as snowmobiles or golf carts? 16.Would you be interested in any Umbrella or Excess Liability policy that extends your Auto and Homeowners liability coverage to $1 million or more? NOTE: COVERAGE FOR QUESTIONS 1-7 MAY BE LIMITED OR EXCLUDED UNDER YOUR PRESENT POLICY. Yes No 1. Do you have Disability income insurance in case you become sick or disabled? 2. Are you concerned about estate taxes? 3. Do you have a Mortgage Redemption insurance policy (which pays off your house in the event of your death)? 4. Are all members of ...

... those of its competitors. Buyers want to spread their business for emotional, logical, and political reasons. Emotionally, they feel more secure doing business with more than one agent. Logically, buying from multiple agents should keep each of them working harder and diversifies the risk of a single agency running into trouble (with so many agencies out of trust, this isn't a bad strategy) . Politically, diversification allows clients to develop relationships with more people. NO PAIN, NO GAIN Cross-selling can be very profitable — but very difficult. Before investing the time and money on a cross-selling campaign, make sure that you can bridge all the pitfalls that accompany this process. If you offer the best products and professional expertise at competitive prices in a variety of areas, and can execute your plan, mountains of profits await your agency. The goal of the CompleteMarkets editor is to bring valuable content to the CompleteMarkets members. Providing content to insurance professionals to enhance their sales process, increase revenue streams, understand their clients and provide value to their agency. Though cross-selling can be very profitable for an agency, the industry's policies per customer average hasn't changed in 20 years. In this document by Chris Burand, you'll learn the reasons why, and what you can do differently. Login or Register (for FREE) to gain access to thousands of other great articles. Need more reasons to join? Need insurance for you, your business or your family? Get quality appointments - Save yourself a whole lot of time & money when you use our directory of carriers, wholesalers and service providers. ...

... student propositions on some extended tourist visas. 2) Flight Cancellation Another challenge that can turn even the most well-planned vacation into hell is flight delay or cancellation. However, regardless of the nature of the issue it usually means extra costs and spoiled mood for you and your companions. American Express Travel Insurance provides you with a guarantee of reimbursement or refund in the case of any unplanned situation. In all other cases, such a situation is highly unpleasant and need to be refunded. 3) Credit Card Fraud Some extended insurances secure you from financial frauds as well. A reputable insurance company that offers fraudulent charges insurance will refund the amount you lost up to 12 hours preceding your report of the incident. 4) Health Issues Regardless of whether you choose a seaside vacation or a trip to the mountains health issues can happen. An extended term travel insurance guarantees that a patient will receive the necessary medical attention on time. Some of the extended travel insurances cover dental care as well. Furthermore, given insurance, you may be able to fill up your prescriptions in countries where a simple doctors note will not be sufficient. 5) Emergency Medical Evacuation In case you require an urgent medical evacuation from the scene of the incident to the closest medical facility the company which issued your insurance will cover these expenses. If you require to be transported to your country to get high-quality medical attention such expenses will be covered by the insurance company too. Do People Realize the Necessity of Travel Insurance?Despite all the pros given by travel insurance, still, a very little percentage of travelers buy travel ...

... , figurines, and so on? 2. Do you own any jewelry? 3. Furs? 4. Valuable camera equipment? 5. Do you frequently carry, or keep in your home, more than $200 cash? 6. Do you have a coin or stamp collection? 7. Do you own any guns? 8. Would you prefer to cover your personal belongings for their full replacement value (i.e., no deduction for depreciation?) 9. Would you be interested in adding Earthquake or Flood insurance to your Homeowners protection? 10.Do you presently have either a burglar, fire or smoke alarm in your home? 11.Would you like an estimate of your home's replacement cost at today's prices? 12.Do you own a second home or any other real property, such as a mountain cabin or farm property? 13.Are you presently engaged in any form of farming or ranching? 14.Do you conduct any business or give private lessons in your home? 15.Do you own any boats, motorbikes, or other recreational vehicles, such as snowmobiles or golf carts? 16.Would you be interested in any Umbrella or Excess Liability policy that extends your Auto and Homeowners liability coverage to $1 million or more? NOTE: COVERAGE FOR QUESTIONS 1-7 MAY BE LIMITED OR EXCLUDED UNDER YOUR PRESENT POLICY. Yes No 1. Do you have Disability income insurance in case you become sick or disabled? 2. Are you concerned about estate taxes? 3. Do you have a Mortgage Redemption insurance policy (which pays off your house in the event of your death)? 4. Are all members of ...