Five Items You Need to Know About Liability Insurance

5 Dec

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In today’s litigious society, 1 in every single 12 Americans is sued every year, rendering liability insurance critical in guarding yourself and your loved ones. Though several folks believe that it won’t take place to them, the frightening reality is that anyone can be sued. Could your otherwise friendly dog sense worry and harm an individual? Could you be deemed at fault for a car accident? Could somebody sustain an injury on your house? These are just a handful of of the common ways you can be confronted with a lawsuit, jeopardizing your family’s finances.

2. Whether you are a residence or company owner, one critical type of liability insurance is an umbrella insurance policy. Offering an extra layer of liability coverage on best of your current policy’s liability limits, this kind of coverage proves invaluable in the event of an accident or other scenario that evolves into a lawsuit. For instance, if your auto insurance policy has a liability limit of $250,000 and you drop a $500,000 lawsuit resulting from an accident, you will be left to finance the remaining $250,000 alone. An umbrella policy can prevent this, supplying you with added liability coverage in million dollar increments to support you finance the fees of lawsuits, settlements and jury awards. With no this additional coverage, a critical accident can leave you confronted with a financial disaster. A industrial umbrella policy functions in the identical way, providing you with added liability coverage for your enterprise, on leading of your commercial basic liability policy’s current liability limits.

3. As a business owner, there is a distinct type of liability insurance that concerns you – commercial general liability coverage. In addition to your worker’s compensation coverage and insurance for your commercial home, this variety of liability coverage will also prove invaluable in protecting your organization from financial disaster. In the event that your firm is confronted with 1 of the most frequent sorts of lawsuits filed against firms, which consist of discrimination, harassment and wrongful termination according to, your insurance will offer coverage. Given that losing a lawsuit could force some small companies out of organization, this kind of coverage plays a substantial function in safeguarding the company you’ve worked tough to construct.

4. Liability insurance is not only important for property and business owners, but also it proves crucial in protecting individuals deemed to provide professional solutions, like medical specialists. Even though all providers of professional solutions must protect themselves with skilled liability insurance, physicians tend to face especially higher hazards. In reality, according to the American Healthcare Association, six out of each and every 10 physicians ages 55 and older have been sued, illustrating the importance of skilled liability coverage, which protects businesses and folks against loss resulting from acts, errors or omissions in the overall performance of their specialist duties. Skilled liability insurance can support shield all medical specialists, from nurse practitioners to pediatricians, from the increased exposures they face.

5. Contemplating that liability coverage plays a pivotal function in protecting what matters most to you, from your home and loved ones to your business, it really is important to rely on an individual you can trust to aid manual you via the procedure of securing this kind of coverage. Independent insurance agents will aid you comprehend your options, make coverage suggestions and find the greatest liability policy for your distinct wants, making certain that your assets remain protected.

98 Responses to “Five Items You Need to Know About Liability Insurance”

  1. Sandy January 5, 2013 at 8:43 am #


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  2. Loise January 5, 2013 at 7:38 pm #

    Ok, here’s the issue. Let us just pretend that my buddies landlord hasn’t literally been stalking her with telephone calls as well as emails on a minimum of a two times weekly basis since she moved in. Let us also not pretend he has extorted funds under other guises or he appears to stay in judgment of her existence. The immediate problem is this:

    Their mutual 6 month lease has expired. Just before even finding the new lease, her landlord asked for a stroll through from the property. Ok, that’s never became of her before however i can understand, maybe, that request. Throughout the walk-through the only real comment designed to her (before she just needed to get free from there) was that he’d want to see her sons room cleaned better. (really?? is that this exactly what a walk-through is perfect for),,, and again, I digress.

    To reinstate the lease for an additional six several weeks he’s (re) asked for all the information he asked for, and she or he provided, just before the very first least. Furthermore, he’s asked for a $35 application fee. The documents he asked for are:

    1. Copies of latter pay stubs (keep in mind, she’s never been late and it has actually compensated many several weeks considerably early.

    2. Evidence of Vehicle Insurance (her vehicle is labeled as well as in the front yard and, why would that constitute concern?)

    3. Evidence of Tenants Insurance (my knowledge of tenants insurance coverage is which should something occur to the home or should products be stolen, tenants insurance covers the tenants possessions and never any damages towards the proprietors house – that ought to be covered under his home owners insurance).

    It simply appears all so absurd. I’ve been a landlord of six qualities for happening 10 years (well, first property 10 years ago after which successively added on). I’ve restored many rents. The only real factor I requested was a rise in rent (and incredibly modest at this) because of inflation. I have have a good associations with my tenants but have approached all six less within the last 2 yrs this tool has approached her in six several weeks.

    While, because of the character of numerous of his emails, it’s apparent she’s grounds to file a lawsuit for harassment, my inquiries to you, dear readers regards that renewal. My God, I saw copies of pay stubs if she was constantly late. (we believe he would like them because her vehicle is frequently home throughout your day as she telecommutes 3 times weekly – he’s very nose). Why the evidence of vehicle insurance? Why tenants insurance. Actually, she’s all necessary paperwork, it is the point. The 35 dollars is among many costs he’s develop, and since she didn’t wish to uproot her children, she acquiesced.

    Men, should you saw his emails, you’d laugh your ass off. Such things as, I help you responded at 3am (which was him passing judgment), and when her boy was his boy he’d whoop his ass, or what about the I am moving to that area and will have to make use of the garage for storage (she did avoid that).. He’s a wackjob without a doubt. Any option using the current problem?



    Here’s my problem

  3. Cleotilde March 10, 2013 at 7:38 am #

    In five years I plan on owning my own beauty supply store. I would like to know where I can get information on the whole aspect of owning one from start to finish. Thanks in advance. (I do not want a franchises)

  4. Evita March 20, 2013 at 3:20 am #

    First off, I want to say thanks for taking the time to read this.
    Well here it goes, I absolutely LOVE taking pictures, my husband has been begging me to start my own business, and plus tons of my friends said i’m so talented at it, and i should really go for it. But I have no clue how to get started, I mean I know I can easily get a building to rent out, thats no problem at all. But as far as getting back drops, the correct lighting, is there a website possibly I could go to, to get these items? What is the best camera for professional picture taking that want cost a arm and a leg, and what lighting should I go with, 1000watt, 2000watt, higher? Right now I’m just using a basic Kodak EasyShare M753, great little camera, but I will definately need a nice professional one, that will catch the moment in pictures. I am 100% forreal about this, and would love some information on professional picture taking, and where to get the equipment, I can also send you a few of my home pictures I have taken. Thanks so much!
    wow, what RUDE comments you get back on here! .. I took photograpghy in school, so yes, i do know all about lightings, lense, stuff to that matter. But if you READ I was asking what would be the best lighting to go with, and what right now is the best professional camera out there, or the best reviewed camera. Family, friends, and strangers does mean a DAMN because I’ll be the one doing it for them, common sense! All I asked was a website, that had good deals on equipment that I can start off with, and how would you know how much money I had to put into this all?? Please think before you write ! : ) Thanks and have a blessed day!

  5. Janita March 20, 2013 at 8:12 am #

    I started some economics and accounting at school recently and have been doing balance sheets/profit and loss accounts. The problem is the teacher gives out a sheet which has a whole bunch of figures (ie, bank overdraft blablah creditors blahblah) to do as exercises. It says write up a profit and loss then do a balance sheet. I get the format of the stuff and everything but I just got no idea how to distinguish all the data from the ones that shud go into the profit and loss and the balance sheet. please help!

  6. Luke March 20, 2013 at 12:32 pm #

    (I know you cant take one thru security) but is it ok for checked luggage?


  7. Sam March 20, 2013 at 2:18 pm #

    I got into a car accident, but had no insurance. The damages of his vehicle was 13k. What happens if I don’t pay? In state of texas that is.

  8. Patrica March 20, 2013 at 6:36 pm #

    Looking for insurance for pet sitting in the owners home. Also, need info on how to get bonded. Would appreciate your help.

  9. Felipe March 20, 2013 at 6:54 pm #

    ill call it “Docthal’s Porn Palace”

    i dont need any like special permit or anthing for that, right? I just need to rent some business space set up shop and start selling right?
    whats a business license? whats a tax ID, ive heard of liability insurance before though…
    were do i get all that stuff?

  10. Ronnie March 21, 2013 at 12:47 am #

    Selected amounts at December 31, 2003, from the Hay and Barnabas Company’s information system appear as follows:

    Cash paid employees for salaries and wages
    Cash collected from sales customers
    Bonds payable
    Common stock
    Prepaid insurance
    Prepaid rent
    Retained earnings
    Salaries and wages expense
    complete each of the following tasks.

    Part A
    There are five adjustments that need to be made before the financial statements can be prepared at year end. Show the effect of each of the following (a – e) on the accounting equation.

    1. The equipment (purchased on January 1, 2003) has a useful life of 12 years with no salvage value (Straight-line method is used).
    2. Interest accrued on the bonds payable is $20,000 as of December 31, 2003.
    3. Unexpired insurance at December 31, 2003 is $7,000.
    4. The rent payment of $140,000 covered the four months from December 1, 2003 through March 31, 2004.
    5. Salaries and wages of $28,000 were earned but unpaid at December 31, 2003.

    Part B
    Indicate the proper balance sheet classification of each of the preceding 12 financial statement items on the December 31, 2003, balance sheet. If the account title would not appear on the balance sheet, indicate the financial statement on which it would be found.

    1. Current assets
    2. Property, plant, and equipment
    3. Current liabilities
    4. Long-term liabilities
    5. Stockholders’ equity

  11. Voncile March 21, 2013 at 7:18 am #

    Step 1 Issued Check # 5347 to Dell Computer in the amount of $3,300 to purchase a new computer and printer.
    Step 2 Issued Check #5348 in the amount of $2,400 to T Insurance Agency for the next 12 months’ liability insurance
    Step 3 Purchased $1,500 of office supplies on account from office max
    Step 4 Issued check # 5349 in the amount f $1,200 to Rodriguez property Management for February’s rent
    Step 5 Received and deposited $1,500 payment from Sega and $2,200 payment from Microsoft on account ( for the work performed in January)
    Step 6 Legal services were provided for the following clients: Ford $3,400 JJ foods $2,200; Standard $4,600; Wu consulting $3,800; Mooney farms $2,100. None of the clients has paid yet.
    Step 7 Received checks from Ford (3,400)and WU ($ 3,800) on account for work performed the first week of February.
    Step 8 Please issue ckeck #5350 to pay John co; (invoice #234 for $815) and check #5351 to pay Doug’s Printinf Shop (Invoice # 323499 for $2,300). Both invoices were alreasy entered as accounts payable in January.
    Step 8 During the second & third weeks of Feburay legal servies were priovided for Ford $3,100, Lee Labs $8845 ortega Foods $4,500 and Botique $ 3,700. Payments has not yet been received from these clients.
    Step 9 Please issue check # 5352 to Office Max $1,500 (inv #22535) on account.
    Step 10 Received checks from Ortega ($4,500) and Lee Labs ($845) an account.
    Step 11 Please Note i wrote a personal check for $10,000
    Step 12 Please issue check #5354 to yourself for $3,200 andcheck #5435 to Mark Smith the legal secretary for #3,600**** For simplicity, debit wage & salary expense $6800 and credit cash $6,800
    Step 13 The $7,000 of office equipment purchased prior to february has a five-year life and $1,00 residual value. The computer and printer purchased for $3,300 have a 5-year life and a $300 salvage value.

  12. Chester March 22, 2013 at 12:28 am #

    Rigsby owns a number of properties, including Five-Ways House, a large luxurious five-bedroom house in Uxbridge, with an indoor swimming pool and landscaped garden with a tennis court. He has appointed a limited company, High Maintenance Properties Ltd, to manage all of his properties, including Five-Ways House. All of the bedrooms in Five-Ways House are en-suite and advertised as being let to “young professionals”. As well as being furnished, the rent of £7,500 per month includes utility bills, (gas, electricity and water), and the services of a cleaning company, twice a week.
    Fariel is a student at the local university. She comes from a wealthy family and her parents are more than happy to pay her share of the monthly rent. They believe that if Fariel is settled into the standard of accommodation that she is used to, it will make it easier for her to concentrate on her studies. Knowing that the landlord does not let his property to students, Fariel claimed to have recently obtained a position as the manageress at one of her parents’ exclusive boutiques. She typed up a reference for herself on headed notepaper, stating that she is on a salary of £50,000 per annum plus commission, and forged the managing director’s signature at the bottom of the letter.
    Olga, who was working as a temp at High Maintenance Properties Ltd while another member of staff was on holiday, was so impressed with the reference that she only carried out a cursory credit check on Fariel. If Olga had followed up Fariel’s reference properly, she would have discovered straight away that Fariel had never worked at any boutique. Fariel signed a standard twelve month lease that makes her jointly and severally liable with the other tenants for the rent of £7,500 per month. She paid her deposit of £3,000 to include her share of the first month’s rent in advance, (£1,500), and moved into Five-Ways House on the 1st September. She did not bother to read a notice on the back of her bedroom door which states that: –
    “Liability for any damage or losses, howsoever caused, will be limited to the value of £100.”
    Three months after they moved in, Fariel persuaded the other tenants to let them throw a dinner party for all five of them plus one guest each. Fariel really wanted to impress the other tenants and their guests so she posted a message on her facebook profile mentioning the dinner party and asking if anyone had any tried-and-tested recipes that they could send her. At 11.00pm, on the night of the party, a dozen “gate-crashers” turned up at the door claiming they had been invited for “after-dinner drinks”. When Fariel asked them to leave they forced their way in and started spraying paint over the walls and furniture. Fariel phoned the police but by the time they arrived the gate-crashers had already left. The following day Fariel reported the damage to their respective insurance companies. Fariel have the same standard policy that covers them for the contents and damage to her room, but not for the common parts. They are also limited to £1,000 per item stolen.
    In the meantime, the other tenants have moved into a nearby hotel and are refusing to pay their rent until the house is returned to its former state. The hotel has quoted them a tariff of £1,000 each per week, for full board, but this price escalates to £2,500 each per week during the weeks that incorporate Christmas and the New Year. They expect to recover these costs from Rigsby.
    High Maintenance Properties Ltd have had several quotes from local decorators to do the work, but due to the festive holiday periods, the earliest the work can be completed is the end of February. The cheapest quote for redecoration has come in at £10,000. Replacing the damaged furniture will cost a further £7,500, although at least half of it could simply be cleaned, reducing the overall cost to £5,000.
    1)Rigsby put in a claim to his insurance company for losses amounting to £75,000. The insurance company refused to pay out claiming that his policy is void as he did not disclose to them that he was letting the property out to students. Rigsby is furious that High Maintenance Properties Ltd let one of his rooms to Fariel and has written to the company directors, informing them that he is looking to them for the compensation instead. He has also threatened to withdraw the rest of his business from the company as soon as he can find a replacement for its services

  13. Denise March 22, 2013 at 4:59 am #

    OK. I need some honest, nice advice please. I am a leasing agent/assistant manager at a luxury complex. I make approximately $1600.00/base salary after taxes. Up until recently due to ‘unknown’ reasons, I was making between $10-$20 for every tenant that renewed their lease along with $25 commission for every apartment leased. The lease renewal commission got taken away for whatever reason and I am now only making my base salary and the $25 commission for every apartment rented. However, we’re hitting our slowest season so needless to say that we’re not leasing much. AND not to mention that I can’t get my insurance that I was looking forward to having because it’d cost me $360!!! After talking to other people in this industry, they tell me I am underpaid and the fact that I have no benefits because it’s outrageously expensive is not good either. However, I do only pay half rent but I’m hearing that’s pretty much a given when you work at a complex.. please help me. I like the people I work for but I feel lied to as to why commission was taken away… I was bringing in about $400 more a month just on renewals.. and it’s hitting my family hard. What should I do? I am not familiar with this industry.. would I get paid more somewhere else with better benefits? please help.

  14. Jeramy March 22, 2013 at 11:31 am #

    Prepare the journal entries to record the reimbursement of petty cash fund.
    General ledger account Petty cash has a balance of 3,000.00
    Coins and Currency – 152.00
    An IOU from Allison, an employee for cash advance- 740.00
    Petty cash vouchers for the following:
    Softdrinks- 200.00
    Rice – 143.50
    Papers – 1,700

  15. Karyl March 22, 2013 at 3:07 pm #

    What is the penalty for driving without liability insurance in Tennessee? What are the concequences if I am pulled over and am not covered by any insurance? Will I get a ticket or what else will happen?

    Thanks 🙂
    In english please?

  16. Marcellus March 23, 2013 at 12:06 am #

    1) classify the following items as (a) deferred expense (prepaid expense), (b) deferred revenue (unearned revenue), (c) accrued expense (accrued liability), or (d) accrued revenue (accrued asset).

    1.subscriptions received in advance by a magazine publisher.
    2. A 2-year premium paid on a fire insurance policy
    3.Fees received but not yet earned
    4. Fees earned but not yet received.
    5. Utilities owed but not yet paid.
    6. Supplies on hand
    7.Salary owed but not yet paid
    8.Taxes owed but payable in the following period.

    2)Oceanside Realty Co. Pays weekly salaries of $3,700 on Friday for a five-day week ending on that day. What is the adjustment at the end of the accounting period, assuming that the period ends (a) on Wednesday, (b) on Thursday? indicate each account affected whether the account is increased or decreased, and the amount of the increase or decrease.

    3) At the end of the current year, $41,980 of fees have been earned but have not been billed to clients.
    a. What is the adjustment to record the accrued fees? Indicate each account affected, whether the account is increased or decreased, and the amount of the increase or decrease.
    b. If the cash basis rather than the accrual basis had been used, would an adjustment have been necessary ? Explain.

    4)At the balance sheet date, a business owes a mortgage note payable of $350,000, the terms of which provide for monthly payment of $7,000. Explain how the liability should be classified on the balance sheet.

  17. Pamala March 23, 2013 at 4:20 am #

    I have contractors that do physical work on properties we have projects on, labs that we send samples to, rental places that send equipment to us, and other various types of vendors.

    Are certificate of liability insurance only needed from those who do work on the properties?

    Sorry, I’m new at this.

  18. Corinna March 23, 2013 at 4:20 am #

    I’m thinking of a company with about 4 Directors and 2-3 full time staff -turnover not exceeding £150,000 per annum.
    When should a Company think about taking out Directors Liability insurance?

  19. Modesto March 23, 2013 at 8:43 am #

    Two tenants displaced…Fire, lot’s of property… Insurance has 180K limit, plus has 18K for “personal Property”, 18K for “other property”, $500.for personal property 3rd party…

    Will lose two to three months rent (do we take the loss?)…

    At fault tenant lost everything, 1st floor tenant lost living room…

    Any provision for either non-faulting tenant (or at fault tenant) to recover from Homeowner’s Insurance?


  20. Cristobal March 23, 2013 at 1:37 pm #

    Can anyone give me a brief summary of what was said. Thanks in advance.
    Don’t really comprehend political speeches well for some reason. Thanks to all of you who answered nicely.

    Sorry, meant to spell speech. knew it looked funny

  21. Gregg March 23, 2013 at 2:09 pm #

    My wife’s parents passed away leaving an estate that mainly consisted of a modest house, a car and a truck, and about $10K in cash after burial expenses. The will left the estate equally to their three kids. The youngest brother never married and was still living in the house with his mother when she passed away. All of the children are in their 40s and 50s.

    Their father passed five years ago, and their mother passed three years ago. The estate was probably worth $190K at the time.

    The older brother took the car, the younger brother took the truck and continues to live in the house. The $10K has been used to pay taxes, insurance, and upkeep on the house for the last three years and has ran out. My wife actually has no idea how the $10K was spent, since taxes and insurance should only come to about $2K per year.

    Her older brother just hit her up for her share of property taxes and insurance for the coming year. She has gotten nothing from the estate other than a few personal items of her mother’s. There has never been a discussion of settling the estate or disposing of the property. When my wife has tried to discuss it with her older brother, he only says their mom would have wanted them to take care of their younger brother. Settling the estate has come up a few times in the last six months, but the brothers won’t even return her calls.

    We know that the older brother went to the court house and filed the paperwork as executor. We also know the property is still listed in her parents names after three years, but the mailing address is listed as the older brother’s home.

    What are her rights? Can the executor just sell or dispose of the vehicles as he sees fit? Or does he have to consult the other heirs? He also sold some property (a Ford tractor) at almost a give-away price to one of his wife’s relatives.

    My wife is reluctant to hire an attorney, but I’ve told her she needs to force her brother to settle the estate. The will specifically leaves the property to equally to all three children, but doesn’t state that it has to be sold.

    So, what are the duties of the executor, can he dispose of property as he sees fit? How long does he have to settle the estate? Can she demand an accounting of the finances? If he doesn’t cooperate, who does she discuss this with?
    The younger brother is the black sheep of the family. His job doesn’t pay that well, he changes jobs regularly, and mostly blows his money. He says he was taking care of his mother until the end, but in reality she was taking care of him financially. He does not have the funds nor the credit to buy the house.
    There are a few things that need clarifying.

    1. To the best of my knowledge, the estsate has never been closed. The real estate is still in the deceased’s name (my wife’s parents).

    2. I don’t know that the title to the vehicles have transferred either. The house insurance is still in the parent’s name. It’s very possible the car insurance is still in their names, and they are just driving the car.

    What are the legal implications to my wife and I for leaving the estate open like that? I assume since she co-owns the house and land with the others, she could be liable for debts or any accidents on the property.

    Will the court system follow through on it’s own to make sure the estate is settled? Or must someone complain first?

    My wife seems unwilling to rock the boat, but is now upset that her brother is asking for money to pay her share of the taxes and insurance.

  22. Morton March 23, 2013 at 4:12 pm #

    I am in the market for excellent liability insurance as a cpt. I am not necessarily looking for the cheapest but the most sufficient available. Thanks in advance.

  23. Scottie March 24, 2013 at 12:45 am #

    We have individual accounts and a joint account that is only for bill paying. He’s very good with paying his portion of the bills, but in other areas I find that he spends more than necessary. He does not bargain hunt. He does not compare prices or bring coupons while food shopping. He spends more on our daughter on frivolous items than he should. I’ve saved a lot more than him, even though he makes more than I do. I tried to get him to save but nothing seems to work. What should I try?
    Also, the reason I am concerned is this: Suppose something major happens and I have to use my savings to bail us out (like major home or vehicle repair). Is that really fair considering he makes more than I do?

  24. Ethelyn March 24, 2013 at 5:36 am #

    I’m thinking about replacing my current car on which I currently have liability insurance through Progressive. There are two things I’d like to know that I’ve have trouble figuring out on their website.

    First, if I replace the car and now only have one car will the old insurance still be applicable to it? If so, for how long and is it equal in liability coverages?

    Second, if I keep the car I have now so when I buy the new one I have two cars then would the liability cover both?

  25. Lorna March 24, 2013 at 11:37 am #

    Listed below are common types of current liabilities, contingencies, and commitments:
    a.Accounts payable
    b.Bank loans and commercial paper
    c.Notes payable
    d.Dividends payable
    e.Sales and excise taxes payable
    f.Current portion of long-term debt
    g.Payroll liabilities
    h. Unearned revenues
    i.Income taxes payable
    j.Property taxes payable
    k.Promotional costs
    l.Product warranty liability
    m.Vacation pay liability
    n. Contingent liability

    For each of the following statements, identify the category above to which it gives rise or with which it is most closely associated:

    1. A company agrees to replace parts of a product if they fail-
    2. An employee earns one day off for each month worked-
    3. A company signs a contract to lease a building for five years-
    4. A company puts discount coupons in the newspaper-
    5. A company agrees to pay insurance costs for employees-
    6. A portion of a mortgage on a building is due this year-
    7. The board of directors declares a dividend-
    8. A company has trade payables-
    9. A company has a lawsuit pending against it-
    10. A company arranges for a line of credit-
    11. A company signs a note due in 60 days-
    12. A company operates in a state that has a sales tax-
    13. A company earns a profit that is taxable-
    14. A company owns buildings that are subject to property taxes-

    2. Of the items listed from a to o above, which ones would you not expect to see listed on the balance sheet with a dollar amount?

    either only current lib, only cont. lib, only comm, both curr lib and cont, both comm and cont, both comm and curr lib.

  26. Leroy March 24, 2013 at 3:31 pm #

    Question 3 –
    Lessee Ltd has entered into a non-cancellable lease for an asset with Lessor Ltd. The details of the lease are:

    • Inception of lease: 1 April 2010.
    • Duration of lease: five years.
    • Fair value of asset: $1,294,384.
    • Economic life of asset: 6 years, after which the estimated residual value is $210,000.
    • Bargain purchase option at end of lease: $280,000.
    • Annual payment: $350,000 (in arrears).
    • Annual payments include: $35,000 maintenance and insurance paid to Lessor Ltd.
    • Depreciation method: straight line.
    • Lessor’s interest rate is 12% p.a.
    • PVIFAn=5, i=12% = 3.6048 and PVIFn=5, i=12% = 0.5674.
    (a)Prepare extracts relating to the lease in Lessee Ltd’s Statement of Comprehensive
    Income for the year ending 31 March 2011.
    (b)Prepare extracts relating to the lease in Lessee Ltd’s Balance Sheet as at 31 March

    From this can I tell if this is a operating or financing lease? And the relevant balance sheet items would be: Depreciation exp, Interest Expense, and Insurance and maintanence expense.

    Is this correcT?>

  27. Tiara March 24, 2013 at 4:20 pm #

    � 55-519. Required disclosures.

    With regard to transfers described in � 55-517 of this chapter, the owner of the residential real property shall furnish to a purchaser a residential property disclosure statement in a form provided by the Real Estate Board stating that the owner makes the following representations as to the real property:

    1. The owner makes no representations or warranties as to the condition of the real property or any improvements thereon, and purchasers are advised to exercise whatever due diligence a particular purchaser deems necessary including obtaining a certified home inspection, as defined in � 54.1-500, in accordance with terms and conditions as may be contained in the real estate purchase contract, but in any event, prior to settlement on a parcel of residential real property;

    2. The owner makes no representations with respect to any matters that may pertain to parcels adjacent to the subject parcel and that purchasers are advised to exercise whatever due
    diligence a particular purchaser deems necessary with respect to adjacent parcels in accordance with terms and conditions as may be contained in the real estate purchase contract, but in any event, prior to settlement on a parcel of residential real property;

    3. The owner makes no representations to any matters that pertain to whether the provisions of any historic district ordinance affect the property and purchasers are advised to exercise whatever due diligence a particular purchaser deems necessary with respect to any historic district designated by the locality pursuant to � 15.2-2306, including review of any local ordinance creating such district or any official map adopted by the locality depicting historic districts, in accordance with terms and conditions as may be contained in the real estate purchase contract, but in any event, prior to settlement on a parcel of residential real property;

    4. The owner makes no representations with respect to whether the property contains a
    any resource protection areas established in an ordinance implementing the Chesapeake Bay Preservation Act (� 10.1-2100 et seq.) adopted by the locality where the property is located pursuant to � 10.1-2109 and that purchasers are advised to exercise whatever due diligence a particular purchaser deems necessary to determine whether the provisions of any such ordinance affect the property, including review of any official map adopted by the locality depicting resource protection areas, in accordance with terms and conditions as may be contained in the real estate purchase contract, but in any event, prior to settlement on a parcel of residential real property;

    5. The owner makes no representations with respect to information on any sexual offenders registered under Chapter 23 (� 19.2-387 et seq.) of Title 19.2 and that purchasers are advised to exercise whatever due diligence they deem necessary with respect to such information, in accordance with terms and conditions as may be contain
    contained in the real estate purchase contract, but in any event, prior to settlement pursuant to that contract; and

    6. The owner represents that there are no pending enforcement actions pursuant to the Uniform Statewide Building Code (� 36-97 et seq.) that affect the safe, decent, sanitary living conditions of the property of which the owner has been notified in writing by the locality, except as disclosed on the disclosure statement, nor any pending violation of the local zoning ordinance which the violator has not abated or remedied under the zoning ordinance, within a time period set out in the written notice of violation from the locality or established by a court of competent jurisdiction, except as disclosed on the disclosure statement.

  28. Jordon March 25, 2013 at 1:02 am #

    I will make sure insurance is in place, but will the contract protect me from being legally responsible from anything they do?

  29. Norbert March 25, 2013 at 1:09 am #

    Mar 1Joan also invests her used vehicle into the business. She estimates that its fair value is $15,000. Joan estimates that the vehicle will be useful to the business for four years, at which time its residual value will be $3,000. It will only be used for business purposes.
    Mar 1Joan signs a two year lease with Dungaree Property Management for the use of a space for her show room and warehouse storage. The show room represents half the leased area. The lease is effective March 1, 2009. Occupancy will begin immediately, and the amount paid for the lease is $48,000.

    Mar 1Joan needs to acquire general liability insurance and protect her inventory. She purchases an insurance policy for the business from RPC Insurance Brokers for $6,000. The term of coverage is March 1, 2009 to February 28, 2010. She hires a security company to monitor the premises after-hours. They will invoice quarterly.

    Mar 2Joan purchases a computer system and software for her business. The system costs $12,000, which Joan financed with a two year note payable. Interest on the note will be paid every three months at an annualized interest rate of 9%. Joan estimates that the computer equipment will be useful to the business for five years, at which time its residual value will be $0.

    Mar 2Joan purchases used shelving and racks costing $5,000 from BGH Library Services. BGH offers credit terms of 1/15, net 30. Joan estimates this store equipment will be useful to the business for four years, at which time its residual value will be $1000.

    Mar 2Joan purchases on account from Grand & Toy $500 of office supplies.

    Mar 3Joan purchases on account from a manufacturer 20 desks with hutch bookcases at a cost of $1000 each, 20 oak credenzas at a cost of $400 each, and 40 art prints at $200 each. The manufacturer offers credit terms of 2/10, net 30 to its customers. Joan picks up the inventory from their warehouse in north east Calgary, and transports it to her show

    Mar 5Joan purchases on account from another wholesaler 100 sets of the latest anti-glare monitor covers and document stands. These items of inventory had a total cost of $10,000. The wholesaler offers credit terms of 3/5, net 30 to its customers. Joan picks up the inventory from the wholesaler’s warehouse in south east Calgary, and transports it to her show room.
    Mar 10Joan records one journal entry for the sales from the first week of business. All of the sales were cash sales, except for a large sale on Mar 9 to Spaces Direct Co. on credit. Cash sales totalled $10,000. The list price of the sale to Spaces Direct Co. is $4,800, but they are given a 10% trade discount. The cost of the inventory sold was $12,000.

    Mar 12Joan interviews and hires a salesperson, Cheech Marin, to provide in-store sales. Tim will begin working on Thursday Mar 12, and will work three days a week (Thursday through Saturday) at a salary of $150/day (assume no source deductions). Pay day will be every second Saturday beginning Saturday Mar 21, and will include all days worked up to and including the day of pay.

    Mar 14Spaces Direct Co. returns some pieces from the purchase on Mar 9 (wrong colour). Joan issues a credit memo to them for the $1,400 price of the furniture (original cost of $800). They are then placed back on display for resale.

    Mar 17Joan records one journal entry for the sales from the second week of business. All of the $18,000 sales were for cash. The cost of the inventory sold was $10,000.

    Mar 19Payment is received from Spaces Direct Co. for the final amount owing for the Mar 9 credit sale.

    Mar 22Payments are made to Grand & Toy and BGH for the Mar 2 purchases.

    Mar 24Joan records one journal entry for the sales from the third week of business. All of the $4,200 sales were for cash. The cost of the inventory sold was $2,400.

    Mar 21Cheech is paid his wages for his first two weeks of employment.

    Mar 28Joan receives a payment of $2,000 from a local medical centre for wall hangings to be supplied in early May.

    Mar 31Joan records one journal entry for the sales from the fourth week of business. All of the sales were cash sales, except for a large sale on Mar 29 to Spaces Direct Co. on credit. Cash sales totalled $5,600. The list price of the sale to Spaces Direct Co. is $2,800, but they are given a 10% trade discount. The cost of the inventory sold was $4,800.

    Mar 31Joan withdraws $1,000 cash for her personal use

    Additional March 31 adjusting entry information

    1.A count of office supplies reveals that $410 of supplies remain in stock.
    2.Joan estimates that the security service bill for March will be approximately $350.

  30. Rosena March 25, 2013 at 7:34 am #

    10. In a day care facility, items such as exit doors and heating appliances are inspected by the

    A. zoning committee.
    B. building and safety committee.

    C. fire department.

    D. sanitation department.

    11. You’ve just completed the coursework necessary to receive a CDA credential. You’re ready to apply for an assessment. You’ve decided you want to receive endorsement for infants and toddlers. In what environment would your assessment occur?

    A. State-licensed day care center
    B. Family day care home

    C. Private home using a home visitor

    D. Day care facility in a fitness center

    12. Carolyn has been operating a licensed day care facility for three years. She’s now considering applying for accreditation. Why would Carolyn want to do this?

    A. Accreditation represents a level of performance above minimum standards required for licensing.
    B. The accreditation remains in effect as long as she’s operating the facility.

    C. Accreditation is required after three years of operation.

    D. Her facility would have programs superior to those of nonaccredited facilities.

    13. You’re attempting to teach Brian, a preschooler, how to arrange a group of five blocks from largest to smallest. First, you explain what you want him to do; then you do it yourself so he can see what he’s supposed to do. As Brian attempts to arrange the blocks himself, you provide encouragement. When he’s successful, you reward him with a star sticker. In this situation, you’re using the _______ learning method.

    A. cognitive
    B. behavior

    C. developmental-interaction

    D. eclectic

    14. Recently you’ve noticed that the supply of disposable diapers at your day care facility is being used faster than usual. You’ve had to place an order twice this month and you usually order only once each month. You suspect that a new employee may be taking diapers to use for her baby. Finally you see her taking some diapers home and she admits the theft. What type of insurance would cover your loss?

    A. Liability
    B. Workers’ compensation

    C. Burglary

    D. Fidelity bond

    15. You’re attempting to determine the usable floor space in your day care facility. Which one of the following areas can you include in your calculation?

    A. Kitchen for all classrooms
    B. Hallway in classroom area

    C. Toy shelves in classroom A

    D. Bathroom adjacent to classroom A

  31. Mariette March 25, 2013 at 1:16 pm #

    I’m starting a cosmetic’s company and the manufacturing company I’m hoping to work with requires business liability insurance. I have no previous payout or income from the my start-up company as of yet. What would be the best way to go about getting this insurance, seeing as most companies require the company to be already off the ground with revenue and mine is in the developing stages?
    Thanks in advance

  32. Jodie March 25, 2013 at 3:12 pm #

    Im a hair stylist and my place of work has begun to require me to get liability insurance. Where can I get it the cheapest and how much should I expect to pay?

  33. Hollis March 25, 2013 at 5:25 pm #

    Selected amounts (at December 31, 2010) from ABC Company’s accounting records are shown next. No adjustments have been made.

    1) Notes Payable = $500,000
    2) Cash = $150,000
    3) Common shares = $60,000
    4) Equipment = $840,000
    5) Prepaid rent = $120,000
    6) Inventory = $250,000
    7) Prepaid Insurance = $140,000
    8) Retained earnings = $130,000
    9) Salaries expense during 2010 = $328,000

    (1) There are 5 adjustments that need to be made before the financial statements for the year ended December 31, 2010 can be prepared. Show the effect of each of the following (a to e) on the accounting equation.

    a) The equipment (purchased on January 1, 2010) has a useful life of 12 years with no salvage value (straight-line method is used)

    b) Interest on the notes payable needs to be accrued for the year in the amount of $40,000

    c) Unexpired insurance at December 31, 2010, is $40,000

    d) The rent payment of $120,000 was made on June 1. The rent payment if for the 12 months beginning on the date of payment.

    e) Salaries of $58,000 were earned but unpaid at December 31, 2010.

    (2) For each item listed next, give the financial statement on which it would be shown and its amount on the annual financial statements for December 31, 2010.

    a) Insurance expense
    b) Property, plant and equipment (net of accumulated amortization)
    c) Salaries expense
    d) Rent expense
    e) Interest payable

    Thank you!! I need to know how to do this so I can explain it to my sis.


  34. Sixta March 25, 2013 at 9:14 pm #

    Listed below are common types of current liabilities, contingencies, and commitments:
    a.Accounts payable
    b.Bank loans and commercial paper
    c.Notes payable
    d.Dividends payable
    e.Sales and excise taxes payable
    f.Current portion of long-term debt
    g.Payroll liabilities
    h. Unearned revenues
    i.Income taxes payable
    j.Property taxes payable
    k.Promotional costs
    l.Product warranty liability
    m.Vacation pay liability
    n. Contingent liability

    For each of the following statements, identify the category above to which it gives rise or with which it is most closely associated:

    1. A company agrees to replace parts of a product if they fail-
    2. An employee earns one day off for each month worked-
    3. A company signs a contract to lease a building for five years-
    4. A company puts discount coupons in the newspaper-
    5. A company agrees to pay insurance costs for employees-
    6. A portion of a mortgage on a building is due this year-
    7. The board of directors declares a dividend-
    8. A company has trade payables-
    9. A company has a lawsuit pending against it-
    10. A company arranges for a line of credit-
    11. A company signs a note due in 60 days-
    12. A company operates in a state that has a sales tax-
    13. A company earns a profit that is taxable-
    14. A company owns buildings that are subject to property taxes-

    2. Of the items listed from a to o above, which ones would you not expect to see listed on the balance sheet with a dollar amount?

    either only current lib, only cont. lib, only comm, both curr lib and cont, both comm and cont, both comm and curr lib.

  35. Brenda March 26, 2013 at 5:29 am #

    For my project I decided to “Live my Dream” I choose to provide a nursing home for those with medical needs. I plan to help them out because their close relatives might not be there as much as often, and there can’t be a nurse to help them 24/7. I was inspired to lend a hand for the sick elderly, because I’ve realized that many young people have a great life or something exciting in their life, when there are seniors who are trapped at their homes and not able to live a life. There are three type of nursing home: skilled nursing care homes, intermediate care facilities, and supervised assisted living facilities. The difference is what the business offers and what type of care every nursing home give different policies where there are elders that can walk and talk in one nursing home. Another home that have the disable elders who have a long-term illness.

    I found a business at Portland, Maine it cost me $695,000 the rent is $2,300 every month, and the nursing home was usually called Jordie Lee Investments but I changed the name to Comfort Zone. The limit of the household is ten disabled elders they must be paralyzed, can’t move, or talk right. There are ten rooms (peach colored), two bathrooms for visitors and employees, one large kitchen, and one living room for the mature but ill senior citizens to be well entertained. I bought many items for the kitchen, bedrooms, living room, and bathroom such like stoves, towels, beds, TV’s, and etc…

    For staff members I’d hire twenty employees and pay them $2,250 a month. They will be paid every week with weekends counted which is $450 per week. If you count all twenty employees in all it will come out $45,000 every month and $540,000 every year, for one year per employee the total be $27,000. I’d hire twenty employees because I will assign two staff members per one elder. The first staff member shift will start at 8am-2pm a total of six hours for a working-day; second employee will work till 2:05pm-9pm. A representative would have two breaks in total of a day their break will have a limit of thirty-five minutes.

    One of the reasons why I decided to open a nursing home is because I’ve realized that lot of sick elders need nurses to take care of them. In lots of hospitals there are nurses who take care of patients and they give their patient or elder treatments and medicines. But sometimes a sick person is care for at home, and then a home nurse will be needed.
    The staff members that are in charge of the health of the elders are usually what the home nurse does. When an elder is extremely ill doctors will recommend a professional nurse to take of the seniors.

    Most families feel very guilty when it comes to place a relative in a nursing home as in an elder. But they do agree to place them in one because they might not be able to take good care of them as most nurse professionals can, so when it comes to senior health problems may grow too serve and the families social and economic resources will become too tense to keep their relative home. Lot of the elders suffers from stress because they are placed in an unfamiliar place at an assisted living facility. It at times has a result of depression, and some cases of death. Most retirement homes let there clients or patients have their personal belongings stay with them at the nursing home. It is important for a convalescent hospital to have their patients happy, and for the employees to be concerned with any problems of their clients.

    For the insurance I decided to buy Property Insurance which insurance that has protection against risks such as fire. Floods, earthquakes, thefts, and etc… The insurance comes up to $764.50; another type of insurance that I decided to buy was Liability and Worker compensation Insurance. Liability Insurance offers business asset against third party claims. The payment is made to a person suffering losses, not insurance contract it cost $1,000. Worker compensation insurance covers medical care for employees and injures they got at work, a reliable protection of hard work also sound sleep every night it cost $695. The total of the insurance comes up to $2,459.05.

    Some types of medication that some of the elders would are:

    1.Diavan 80mg “red” (take one tablet by mouth daily)
    2.Aspir-Low 81mg “yellow” (take two tablets by mouth in the morning)
    3.Senna plus tablet “orange” (take two tablets by mouth in the morning)
    4.Ascorbic Acid 500mg tablet “white” (take one tablet by mouth daily)
    5.Paroxetine HCL 20mg tablet “blue” (take one tablet by mouth daily)
    6.Lerothyroxine 50mg tablet “white” (take one tablet by mouth daily)
    7.Flomax 0.4mg capsule “white” (take on capsule by mouth daily)
    8.Omeprazole 20mg capsule “white” (take capsule by mouth daily)
    9.Metoprolol succer 50mg “white” (take ½ tablet by mouth daily)
    10.Furosmide 20mg tablet “white” (take one tablet by mouth daily)

    Most elders may take this type of medicine in which to get better or

  36. Carolee March 26, 2013 at 11:31 am #

    To Kay Ltd for novelties to be sold £1,500
    year profit £11,040

    To Cas Limited for playing cards £400
    To Mary for ‘disappearing lady’ apparatus £2,000
    George’s drawings £11890
    Cash balance at 31 December 2007 £560
    Bank balance at 31 December 2007 £120
    invoices received from Kay Ltd up to
    31 December 2007
    Stock of unsold novelties at cost price at 31 December 2007 £80
    Amount owing from customers for novelties £350
    Other fixed assets still owned at 31 December 2007
    Costume at cost 3,000
    Magic books and equipment at cost £2,000
    Owner’s capital (costume, magic books and equipment and
    £20 initial travel expenses from owner’s savings)
    Depreciation £ 500 for costume,books and equipment
    Depreciation for apparatus £400
    Owe wages to Mary of £100 and paid early bus tickets of £50.

  37. Dusty March 26, 2013 at 11:37 am #

    I had an accident a few months ago while in the process of moving to my new home. I got rear ended while pulling my own trailer that I built about five years ago. My role around garage toolbox was destroyed, my ban saw annihilated, and the back end of my trailer busted up. On top of that the impact ended up punching two holes into the bed of my truck each about 8 inches long. I had full coverage on the truck, and the kid that hit me has liability insurance. His insurance company only sent me a check for half of the worth of the saw and toolbox and did not compensate for the holes and trailer. They said they only owed half the value on the saw and toolbox because they where used and I couldn’t prove their worth. What can I do to get the other half for the saw and toolbox, and what about the holes in the bed of my truck and my smashed trailer.

    The kid is insured with American Family out of Wisconsin.

  38. Lettie March 26, 2013 at 5:37 pm #

    Almost 2 years ago I was charged about $300 for an eye exam. The company performing the exam was the same as my insurance provider. I refused to pay the entire bill, since the average price of an eye exam is $55 – $60. The debt has now been turned over to a collection agency.
    I know it won’t be wrth it for me, but
    1) Can I sue the debt collector to force a settlement for $100 or less?
    2) What % chance would I have of winning?
    They never said what the cost would be until I received the outrageous bill.

  39. Ivan March 26, 2013 at 10:38 pm #

    Laughter Landscaping has the following independent cases at the end of the year on December 31, 2014.

    a. Each Friday, Laughter pays employees for the current week’s work. The amount of the weekly payroll is $7,000 for a five-day workweek. This year December 31 falls on a Wednesday.

    a. Details of Prepaid insurance are shown in the account:

    Laughter prepays a full year’s insurance each year on January 1. Record insurance expense for the year ended December 31.

    c. The beginning balance of Supplies was $4,000. During the year, Laughter purchased supplies for $5,200, and at December 31 the supplies on hand total $2,400.

    d. Laughter designed a landscape plan, and the client paid Laughter $7,000 at the start of the project. Laughter recorded this amount as Unearned service revenue. The job will take several months to complete, and Laughter estimates that the company has earned 60% of the total revenue during the current year.

    e. Depreciation for the current year includes Equipment, $3,700; and Trucks, $1,300. Make a compound entry.


    1. Journalize the adjusting entry needed on December 31, 2014, for each of the previous items affecting Laughter Landscaping. (Horngren 179-180)
    Horngren, Charles T., Walter T. Harrison Jr., and M. Suzanne Oliver. Accounting for Ashford University, 9th Edition. Pearson Learning Solutions. .

    I have a template but am struggling on how I record this? I have a journal template. The book is pretty vague, at least to me, and doesn’t explain things very well. I would like to understand and do this correctly.

  40. Ned March 27, 2013 at 1:15 am #

    I am considering liability insurance but I don’t know a reputable company to work with. I googled it and found so many but I don’t want to be scammed. Any advice on where to go or where to look?

  41. Shanelle March 27, 2013 at 7:06 am #

    If you hit an uninsured motorist and have liability insurance does your insurance company have to pay the uninsured motorist? Also, If you don’t have insurance and get in a non-fault car accident, do you have to pay the other vehicle because you don’t have insurance?

  42. Pura March 27, 2013 at 7:27 pm #

    I want to sale vehicles over the internet and I know I need professional liability insurance. Is it worth it? Also, can vehicle protection be a part of it?

  43. Dexter March 28, 2013 at 12:53 am #

    I do interior repairs for used car lots. One of them has asked for a certificate of liability insurance, but there isnt any need for it. I dont move the cars and just fix seats, etc. Is there some kind of waiver that i can give them which says that they are not liable of any injuries that i may incur and that i am liable for all damages?

  44. Shane March 28, 2013 at 5:28 am #

    This is for a finance project. About how much would a neurosurgeon making around $400000 annually have to pay for professional liability insurance monthly?

  45. Jimmy March 28, 2013 at 6:33 am #

    The situation is like this:
    I have liability insurance attached to my own car, but I am driving other car (for example my friend’s or rental car). If I hit somebody’s car when driving that other car, will my liability insurance cover the damage of that car that I hit?

  46. Milan March 28, 2013 at 7:57 am #

    My wife and I are starting a small salsa company selling it at the farmers’ market and hopefully some local grocers. We would have no employees and sales will be well below $50K for our first few years. How much would some general liability insurance cost for a this start-up? We are in Lancaster County PA if the area matters. Rough estimates would gladly be accepted!

  47. Miquel March 28, 2013 at 5:09 pm #

    I am doing a project for a business proposal and I just need a ball park figure for what the cost of general liability insurance would be. The business is just me working as an Interior Designer out of a home office with no employees.

  48. Olive March 28, 2013 at 7:17 pm #

    My history class is doing a business plan project, and I’m wondering what the cost of liability insurance for a softball training center would be?

  49. Oscar March 28, 2013 at 11:44 pm #

    I am starting to run workshops, teaching creative recycling crafts and require public liability insurance. Could you point me in the right direction please?

  50. Julieann March 29, 2013 at 12:43 am #

    My wife went to a retirment center about a job as an onsite cosmetologist and the lady she spoke with said she would need her license and liability insurance. Where can you get this type of insurance as a cosmetologist in Fort Worth Texas?

  51. Richelle March 29, 2013 at 4:37 am #

    I guess I should get this if I want to do window cleaning, but would the liability insurance for window cleaning also cover me for gardening (landscape gardening or just normal gardening)? Carpentry ?

  52. Terry March 29, 2013 at 6:52 am #

    Most companies want me to switch my home insurance to them before they will offer liability insurance on vacant farmland I plan to rent, located in another area.

  53. Azalee March 29, 2013 at 10:41 pm #

    What is employers liability and public liability insurance?
    How much does they usually cost?
    Are both of them cover all employees?
    Do I need to buy per employee?

  54. Devorah March 30, 2013 at 4:59 am #

    I want to rent a hall our for my sons birthday party, and the owners said we need one day liability insurance through our insurance. What is it though? And through what insurance of mine do I get it? Also is it expensive? I’ve never heard of anything like this before and its just making the party planning process that much more stressful.
    Thanks so much

  55. Stanley March 30, 2013 at 4:59 am #

    My father-in-law is a handyman who needs to renew or purchase general liability insurance, but he doesn’t have the money. I’m just trying to help him out so he doesn’t screw himself if god forbid something should happen on the jobsite. Thanks.
    Thx mbrcatz! Do you know if it’s possible to purchase general liability insurance for a quarter of the year if you are just doing a temporary contracting job?

  56. Sierra March 30, 2013 at 4:34 pm #

    I have called to a few insurance companies to get a general liability insurance, and I have been turned down, because I have barely any experience in the cleaning business. How then can I start and get an insurance at the same time? Do I have to lie to them and tell them that I have 10 years of experience?

  57. Gil March 31, 2013 at 1:51 am #

    I am thinking of purchasing an old powerboat (1970s) that would be kept at a nearby marina. It’s not exactly a gem, so I am not really interested in comprehensive insurance.

    I imagine all marinas in California would require at least liability insurance on the boat. Do I need to get the boat surveyed in order to get the most basic required coverage? Because the boat is so old, are there other factors that might prevent me from getting it insured?

  58. Dana March 31, 2013 at 1:12 pm #

    We live in Reynoldsburg, Ohio,. but we are serviced by cols police so he is legal but i cant seem to find any liability insurance for him. can anyone help. I’ve tried allstate, state farm, usaa. any suggestions?

  59. Ahmad April 1, 2013 at 8:08 am #

    I am a california contractor and need to know the best insurance agency to help me find affordable Contractors General Liability Insurance

  60. Josette April 1, 2013 at 11:41 am #

    I was looking to join a local martial arts class in my local area, but they keep expecting me to pay for my own liability insurance and martial association fee.
    Surely the onus for insurance should be on the instructor running the classes, and ajust his/her prices to include this. Plus I do not wish to join a martial arts association, as I only wish to do this for fun.

  61. Shad April 1, 2013 at 12:50 pm #

    I just had an accident in PA today, I only have liability insurance. I skid while raining, didnt hit any other car, hit a wall – but there is no damage to the wall. My car is significantly damaged and has been towed to a body shop.

    What are my options?
    Since my insurance wouldnt pay anything, should I try to get a salvage shop to come get the car? Is there a way to not go through insurance at all?

  62. Earl April 1, 2013 at 1:08 pm #

    I am trying to find out what the general range for business liability insurance would be. All that I get from google searches is links to insurance companies, rather than some reasonable range of rates. I don’t want to give my name, phone number, and email to multiple random companies, just to see if I can afford even basic coverage.

    So, please, someone tell me what would be a general range of rates, monthly or annually, for a home-based computer repair business in Florida. I don’t have a storefront, so I don’t have customers in my place of business. My annual sales, mostly labor, is about $30,000.

  63. Denae April 1, 2013 at 3:21 pm #

    I plan to start my own business catering to private functions. (weddings, parties, etc.) Do I need liquor liability insurance? If so, how do I get it and does anyone know how much it usually costs?
    I will be bar-tending.

  64. Nettie April 2, 2013 at 8:29 am #

    We, 25-people Bible Study Group wants to use Elementary School classroom for our meeting twice a month during the evening. School Dist requires a minimum 2 Million $ Liability Insurance coverage.

    How much will it cost? (in range)
    we are in Northern California.

  65. Chana April 2, 2013 at 8:29 am #

    Im looking to get my C-27(landscaping) in CA. How much can i expect to pay for liability insurance?

  66. Jacquline April 2, 2013 at 9:25 am #

    Im 16 in Highschool…What would be my next move to becoming a gunsmith and following my career

  67. Rodolfo April 2, 2013 at 1:13 pm #

    I am starting a small corp. that offers companion services for the elderly. No medical involved although every one I hire has elderly care experience. This involves things like laundry, cooking, cleaning giving prescribed meds, etc. What kind of liability insurance do I need if everyone will be working as a subcontractor? What kind of insurance are they required to have? Any information you have on this subject would be helpful.

  68. Oscar April 2, 2013 at 1:43 pm #

    I’m going to start teaching horseback riding lessons and need to know what the best, but also the cheapest liability insurance, so I can teach at local arenas and barns.

  69. Leonard April 2, 2013 at 8:07 pm #

    Just and average maybe from some people that might have business liability insurance.

  70. Garland April 3, 2013 at 6:20 am #

    How much does car insurance (a mini van, like the type that window cleaning company uses) and public liability insurance normally cost?
    Can anyone just provide a rough figure? Just a rough figure is okay, coz it just used for my assignment about starting a business of domestic services. The lowest price is also okay!
    Thanks so much!!!

  71. Eveline April 3, 2013 at 5:50 pm #

    I’m about to set up a small sole trader business in the UK making furniture and I am going to be moving into a small industrial unit which I will be renting. I have been advised by the people who are renting out the unit that I need to get personal and public liability insurance. I have done a few searches on the internet but I can’t see any companies that have a combined policy. In other words it seems I have to get two seperate insurance policies for personal and public insurance. Is this right? Or is it the case that public liability also includes personal liability.

  72. Arnulfo April 3, 2013 at 9:32 pm #

    I have just registered my business. This business specializes in residential property maintenance, residential construction and residential masonry. I would like to know approximately how much I will need to put down for liability insurance that would cover me if anything was to go wrong. I have no employee’s and no vehicles to add on. I want to only be covered for liability. Thank you very much and I hope to have a better understanding on this matter soon thanks to you!

  73. Seymour April 4, 2013 at 1:19 am #

    I am interested in a contract therapy job but they require me to carry liability insurance and file my own taxes. Have you ever had to do this? Is it a complete pain in the butt or is it worth it to do them since the job pays very well? Where do I find personal liability insurance and how much would it cost? And how do I pay my own taxes? Should I get a CPA? How much does that cost? I live in Florida.
    Oh and I already have another job but this is just for extra money so not worried about them not paying benefits.

  74. Alfreda April 4, 2013 at 11:41 am #

    I have been an estate caretaker in the past for friends of friends and in only through word of mouth locally. I want to now branch out and look for jobs out of state with people I don’t know. If hired by someone, one of the possibilities is that I would become hired as an independent contractor. So my question is who does the liability insurance fall on when I am residing on their property. Would I be covered under their home owners insurance? Should I buy insurance to protect myself from being accused or sued for stealing/breaking something or anything else?

  75. Estefana April 4, 2013 at 5:03 pm #

    I am bring my business to the ymca and they told me I have to have general liability insurance.

  76. Enriqueta April 4, 2013 at 9:33 pm #

    I have been turned down by few insurance agency because I work out of my home office. What liability insurance company covers professionals who works out of their home?

  77. Nola April 4, 2013 at 11:16 pm #

    What is the limit for a towns liability insurance?
    if a town gave some one a building permit and occupancy to live in a home that was built and then say a person that lived next to them challenged that towns decision after the fact.and took it to land court and won. then say the land court handed down a order of conditions to the town to tell me to comply. would the town be liable to pay for damages and what type of insurance and how much would it cover.

  78. Isaias April 5, 2013 at 5:10 am #

    A friend of mine is going to be DJ’ing at my wedding. The venue have said that this is fine and he is going tho bring his own equipment which he is hiring separately. The venue have said he needs to produce a Public Liability Insurance Certificate.

    This is not his normal job he is just doing it as a one off favour.

    Any idea how hie gets one? I have looked on line but it all seems to be for professional or self employed people/businesses.

  79. Dione April 5, 2013 at 10:44 pm #

    I was reading that there are certain exemptions for liability insurance. What are the conditions of exemption in the state of Texas? I couldn’t find anything useful in a search.

  80. Christia April 6, 2013 at 9:46 am #

    What type of liability insurance do you need for a small business that provides cooking classes for children and cooking birthday parties?

  81. Delfina April 7, 2013 at 2:00 am #

    I’m working at a pet boutique and I can bring my dog to work — but my boss is asking that I should get liability insurance for him. He’s a mini labradoodle.

    I already have him covered in my renters insurance – but I don’t think that it will cover him for work. Where can I get one??
    My boss has liability insurance as well for her dog and for her business.

  82. Rosalina April 7, 2013 at 3:06 am #

    Do i need to get bonded and have liability insurance, or just liability insurance, is it the same thing?

  83. Ahmad April 7, 2013 at 4:18 am #

    I run a mobile disco with some friends but we haven’t renewed our public liability insurance for various reasons, but need it for an event this weekend. Any idea how much it would cost just for one event? I am in the UK so pounds and pence only please!

  84. Tory April 7, 2013 at 4:22 pm #

    I need to know how much it would cost to have general liability insurance and E&O. I live in California. thanks.
    I will be a home inspector. I will be the only employee of my company.

  85. Georgette April 8, 2013 at 3:47 am #

    I am a director of a newly established video production company. We are shooting a live Jazz festival in Birmingham and will require public liability insurance. However the quotes I have found only insure annually ans are way out of our current price range. How/where can I get public liability insurance for 2 days?
    Any input would be greatly appreciated.

  86. Oswaldo April 8, 2013 at 4:52 am #

    I am planning on starting my own mobile dog bathing business and would like to know what insurance i need and how much at a guess would liability insurance would be ?

  87. Jefferey April 8, 2013 at 9:54 am #

    I work for a personal injury law firm and I am trying to acquire information on a pending case. I need to know what kind of liability insurance a physician had. Ive called various state agencies looking for the information and they do not keep record of it. I am looking for any way to obtain it.

  88. Kit April 8, 2013 at 10:58 am #

    I’m putting on a play and the venue wants me to get a public liability insurance cover.Where would I get this and whatdo I need?

  89. Pura April 8, 2013 at 11:32 am #

    I’m thinking about selling my handmade bath/body items on eBay and have been told by a few people that I should have product liability insurance in case some sue-happy person gets a rash or something. I clearly label my items with ingredients and warnings, but I am afraid this could potentially happen.

  90. Su April 8, 2013 at 12:05 pm #

    If you only carry Louisiana Liability Insurance ,and someone else causes a wreck that is insured what do you do ,and how does it work? What happens then?????

    I’m new at learning this stuff while in driving school ,and was wondering how the different types of Insurance works and what happens if the person at fault causes the wreck like a rear end is insured what happens , and how does it work?

  91. Carmel April 8, 2013 at 4:06 pm #

    How does boxing liability insurance work?

    Laurence Cole a boxing referee, insures the very same fights he officiates in. How would a boxing referee slash insurer benefit from the outcome of the fight that he takes part in?.

  92. Dana April 8, 2013 at 4:16 pm #

    I am renting a studio in a large mill building. The studios for rent are for business purposes only, not for residential purposes. I need to be covered for $1,000,000 public liability insurance according to my lease. I have been searching around, but it seems i can only find regular renters insurance, which is mainly for renting a place where you live. I don’t really know much about insurance, so any information would be helpful.

  93. Milda April 20, 2013 at 9:01 pm #

    1) The statement concerning a company’s income tax expense that is correct is:

    A. Income tax expense often differs from the amount of tax paid to the ATO(Australian Taxation Office)

    B. Income tax expense will be the same as the amount of tax paid to the ATOC

    C. Income tax expense will only rarely differ from the amount of tax paid to the ATOD

    D. Income tax expense is calculated as pre-tax accounting profit multiplied by the company tax rate

    2) If a legitimate expense is not accrued at the end of the accounting period, the result will be an

    A. understatement in liabilities and an overstatement in profit.

    B. overstatement in liabilities and an understatement in profit.

    C. overstatement in assets and profit.

    D. understatement in assets and profit.

    3) A possible explanation for a company reporting a loss on the profit report but a positive cash inflow of funds from operations is:

    A. a decrease in trade debtors.

    B. an increase in trade debtors.

    C. an increase in inventory.

    D. a decrease in trade creditors

    4) Which of the following is not disclosed in the statement of comprehensive income?

    A. income and expenses recognised in the income statement

    B. income and expenses recognised directly in equity

    C. transactions with owners as owners

    5) Cash receipts from interest and dividends are classified as which activity in the statement of cash flows?

    A. Operating
    B. Financing
    C. Investing
    D. Financing or investing

    6) Separately disclosing an income or expense item as an extraordinary item in the income statement

    A. is a very common practice.
    B. is popular with executives
    C. is no longer permissible.
    D. is popular with shareholders

    7) Expenses classified by nature would not include:

    A. manufacturing expenses
    B. employee benefits expenses
    C. depreciation expense
    D. wages and salaries expense

    8) If income earned is not accrued at the end of the accounting period, the result will be an

    A. Understatement in liabilities and an overstatement in profit
    B. Overstatement in liabilities and an understatement in profit
    C. Overstatement in assets and profit
    D. Understatement in assets and profit

    9) Depreciation of office equipment and Lease charges is

    A. cost of sell

    B. selling and distridution

    C. dministration and general

    D. finance

    10) What is the ajustment from cashing accounting to accrual accounting of below:

    •The accounts receivable and accounts payable balances at the start of the reporting period were $16 400 and $9800 respectively. At the end of the reporting period, Tazza had accounts receivable of $21 200 and accounts payable of $19 760.

    •The opening inventory was $32 000 and the closing inventory $38 000.

    •An advertising invoice of $2960 had not been paid.

    •The business has equipment that cost $40 400. It has a useful life of five years and an expected salvage value of $4400.

    •The insurance expense represents the 12-month premium on a policy that was taken out on 30 April.

  94. Louise May 9, 2013 at 6:02 pm #

    Will a high school have to get liability insurance for a boxing club if participants in the boxing club sign clear liability waivers, stating that one cannot sue? This is for NC and please provide proof of the answer.
    Is there a law requiring NC schools to buy liability insurance for things like this?

  95. Clayton May 23, 2013 at 9:36 pm #

    I have a small photography business and was asked to provide liability insurance in order to do a shoot at a catering hall. I don’t know where to find this type of insurance, and don’t want to break the bank either. I don’t even know what this kind of insurance is called… can anyone help?

    Thanks in advance.

  96. Harley May 29, 2013 at 8:25 pm #

    I’m looking for liability insurance for a contractor who specializes in home remodeling for people with dissabilities?

  97. Roscoe July 3, 2013 at 9:31 am #

    I am the first driver with my insurance for my own car, and it covers rental car.
    With my Amex premium rental insurance, I normally decline CDW or other insurance.
    Now, there is another additional driver, who is uninsured and doesn’t have any insurance.
    How to get liability insurance for him? Oh, he even won’t show up when we pick up the car.
    Is there insurance company selling temporary liability insurance for an uninsured second driver?
    Oh, and it is in AK, US

  98. Shalon July 19, 2013 at 2:13 am #

    I am planning a walk for the National Eating Disorders Association in a local park. They require a $1 Million general liability insurance for the event. I don’t know how many people will be coming but I would guess maybe 50 – 100. Does anyone know around how much this type of coverage would cost? I have tried to get quotes but since my event isn’t until April I can’t get any yet.

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