Archive for October, 2009
October 31st, 2009 | 
Author: Who wants to pay more for car insurance than they need to? These days it doesn’t appear that anyone has an extra dollar to spare, so why not make sure that you have the cheapest car insurance policy for your needs? You could spend lots of time calling around to all of the different insurance companies in order to get a car insurance quotation, but why waste time like that?
Get online and you’ll find everything you need, immediately within your reach. The internet provides us with everything that we need from movie times to magazine subscriptions. Why wouldn’t you trust your car insurance needs to be taken care of online, too? You can find quotes from all of the major automobile insurance providers in the country online with a few simple clicks of your mouse.
When you get a car insurance quotation, make sure that you’re getting the full picture. Many times, you will get to the homepage of a car insurance company’s website and they will have thrown a lot of information at you, without really explaining what you’re looking at. Make sure that you go through a side by side comparison that shows all of the benefits of the insurance policy along with the price tag versus other insurance companies similar policies.
Companies love to throw numbers at people in the hopes that they’ll just jump at the lowest common denominator and buy their product. I do have to say, though, I’m impressed with the fact that the big insurance companies are not afraid to show you these price and policy comparisons. Many times, they aren’t the best value for your money, and they have to tell you exactly what the truth is.
I guess it’s a 50-50 toss as far as this goes, they know that many people will choose to go with them, just because they were honest. Others may go with them because of brand name acknowledgment. If you’re looking for the very lowest price, though, make sure you read all of the small print before you jump to buy. Make sure you check out more than one site, too. It surely won’t be intentional, but it is easy for incorrect information to make its way to a website.
Verify everything before you buy and you’ll be fine. Make sure you know what the different levels of protection are within the insurance policies that you’re comparing. The quotation that you get will be given after a series of questions are asked. Make sure to have the accurate information in order to get the right price quote.
You’ll need information like your drivers license number, your vehicle identification number and make, model and year of your car. You’ll also need to know the correct information regarding any past accidents or tickets that you may have. This will all come into play when an auto insurance company gives you a price quote.
When you need a car insurance quotation, give the insurance company the whole picture so that the information you receive is correct. Get online and get instant access to quotations about every kind of policy and rider that you may need.
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In our last newsletter we discussed the current “seller’s market” and encouraged business owners to understand their options.
Despite the huge demand for deals, private equity groups (PEGs) and strategic buyers are not an option for all business owners. These sophisticated buyers are looking for attractive companies with solid growth prospects.
According to Jack Emmons, Managing Director with The Christman Group, the market is showing a great deal of interest in private companies in certain industries, but he cautions, “business owners should not expect that a rising tide will float all boats.”
Emmons, a transaction specialist at The Christman Group, spends most of his time talking with buyers about their acquisition criteria. Emmons suggests that even in today’s market owners still need to have a plan regarding how to best position their companies in order to command top dollar.
“To get top dollar, owners of middle market companies need to make their companies attractive to other corporations and strategic buyers, rather than to individual investors,” says Emmons. “The difference between an average company and a stellar company in today’s market can increase the selling price by as much as 2 times earnings or more at the end of the day.”
Market Appeal
The elements that make a company a stellar performer vary by market, the industry, and the buyer’s needs and assets, but Emmons says several factors are likely to appeal to most potential buyers:
Steady growth—As long as expenses are in line with growth, steady growth signals buyers that they can expect a good return on their investment.
Diversity in growth—A company whose growth comes from one major customer will be less attractive than a company with multiple customers. Similarly, a business whose customers are concentrated in one industry will appear to have less opportunity for significant growth than one with customers in a range of industries.
Profitability—It’s important to remember that increased market share does not automatically translate into increased profits. To be an attractive candidate for a merger or acquisition, companies must carefully control costs and show fiscal responsibility. If a company’s margins shrink during growth, buyers will think the company bought market share and will wonder if that growth is sustainable.
History of innovation—Potential buyers value firms that can demonstrate they’ve evolved as their markets have changed, either by introducing new products or services, entering new markets, or by diversifying through acquisitions.
Niche specialty—Companies that are niche players in one clearly defined market are likely to be valued more highly than companies that are good at many things. Potential buyers are always seeking “platform” companies on which they can build significant business either through organic growth or through complementary acquisitions.
Assessing The Value Of Your Business
Positioning a company to attract top dollar through a merger or acquisition requires strategic planning and discipline, says Emmons.
“Companies that are focused on getting new customers or entering new markets should focus on providing new products or services to existing customers and then marketing existing products or services to new customers,’ he advises.
“Business owners also need to focus on best practices, which demonstrates that they are aware of what’s going on with their competitors and in their industries, and are committed to achieving superior results.”
A strong management team is also a significant asset, according to Emmons. “The purpose of a merger or acquisition is often to allow the founder to exit,” he notes. “As a result, one of things buyers look for in a good business is a plan to acquire and train good leaders so there is a layer of management to keep the company going—and growing after the founder leaves.”
Finally, everybody understands the value of efficient operations, so managers must always be thinking about improving plant usage as well as worker productivity. Even if a business owner does not have the time or the resources to maximize efficiency, being aware of these issues and addressing them is a good sign to a potential buyer.
“Self-assessment, strategic planning, a team approach to getting things done—it’s important that everyone in the organization be focused on how operations can be made more efficient and more profitable,” Emmons says. “These aren’t new approaches, they’re just common sense and common sense adds up to real dollars.”
In the end, Emmons says, “buyers in today’s market basically want a low risk profile.” They still remember what happened in 2001 after they paid top dollar for companies in 2000. They want to know they’re buying a company that has the vision, drive, and processes in place that they’ll need to prosper and grow.”
A lot of of car insurance companies really don’t understand what people in the historic classic car field actually want. They are blinkered by the needs of the day to day car use of Peter public. Everything has to slot into a standard category and car price goes down ceaslessly as the years speed on by. If you change items on the car they start licking their lips with the anticipation of a nice fat commission check. So what happens if you suddenly have the urge to purchase a classic motor vehicle, a hot rod or simply want to ‘pimp your ride’ and make it look the talk of the town. Well fortunately there are businesses out there that only do this kind of thing. They know what the car collector needs and make it their passion to keep them happy with the products that they provide.One of the main aspects of classic car collecting is that your motor vehicle is likely to increase in value as the years pass. This is the exact opposite of the ordinary car market. As a result classic car insurers have a system of agreed valuation. Therefore you can set your own value on the vehicle that you posess. Its value may be bigger because it is an historic vehicle or possibly because you have spent a lot of money changing the body design or the engine specification. However this has to be agreed with the insurer and so you just can’t simply dream things up or over rate the car’s condition or features. You may have to give photos of the vehicle as part of the agreed valuation.
This doesn’t necessarily mean that antique classic car insurance is going to be costly. This is because the insurers know that the people who own such cars are serious about their investment and will be driving with the greatest care and usually trying to keep their vehicle safe. Drivers who own such vehicles are usually not using them for the conventional day to day commute to work. A lot of the time they locked up just waiting for that show event to take place and then with loving care they are shown in all their glory.
There are some other factors that are important in the choosing of cover in this particular area. If you intend showing your car at events then there is coverage for this particular field. Coverage can also be provided for foreign travel and touring. This could also include the shipping to the foreign country, spare parts, labor and trip interruption.
Some insurers have restrictions on the annual mileage that you can do with your car. This is actually an attempt to stop you using it as your family car. There are others that have no restrictions at all. If you know that you are only going to do a small number of miles in a year then this can also be used in keeping the insurance costs low.
If you suddenly have the desire to purchase a certain car and have to get it straight away there is also instant cover available for a short amount of time on a new acquisition. This allows you to buy it, get it home and worry about the final insurance cost at your leisure. This is a very useful feature as I am sure that a lot of vehicles are purchased in that moment of madness which occurs when you are presented with an offer you just can’t turn down!
It is never too late to begin your own collection of classic cars. I owned 2 Landrovers at one time. I really wanted a car that was older than me and I found a 1956 series 1 Landrover which just fitted the bill. I also had a 1964 safari long wheel base Landrover as well. I actually used this one as my main vehicle asI found the insurance for limitless mileage was cheaper than the usual insurance on a modern car. The main idea is that you should not allow the fear of antique classic car insurance cost stop you starting your own classic car collection.