Prodex Consulting

Prodex Consulting provides business consulting services to business owners, executives and starter entrepreneurs. Receive great advice on Business Planning, Business Skills Training, Business Development, Business Legal and more.

Business Consulting

  • No Blogroll Links

Business Consulting

Business VoIP services has made communication easier


VoIP is the latest technology that has been implemented by the communication industry. In this system, a user will be able to make calls by using the internet connection. For this the regular phone service will not be required in any way. Nowadays, more and more numbers of people are seen to use computers and the internet for their works. VoIP is ‘Voice Over Internet Protocol’ and it is evident from the name that one will require internet for communication via this process. Large numbers of small and large businesses are using the different kinds of business VoIP services that are available today for better and economical communication.

It is a well known and common fact that any business house depends on loads of communication within the local area or at the national and international levels. Therefore the recurring costs of maintaining these communications are also quite high. With business VoIP services, the costs have been brought down by considerable degrees. The greatest advantage is that one can make calls to a person who does not have VoIP as well. Only one thing is required for this service and that is high speed internet connectivity. If that is available, a user needs to worry about nothing more.

There are many advantages of business VoIP services. The first and most important is that there are no hassles of regulatory fees and unexplained taxes. The phone calls that are internet based are tax free and therefore they are cheaper on the long run. Also there is no difference in charges of long distance calls and local calls. With the VoIP services, there is no need for separate phone bills as you can use these services for all phone calls.

Things to think about when creating your business plan

When you plan a new business or try to restructure the existing one, there are certain things to think upon. It is very important that you should keep in mind, the things to think about when creating your business plan because this will greatly determine your business success. So, here are these things that you should always think about:

Vision

The very first thing to be thought over is the vision. It is important to note whether you are clear in your business plan and its vision or not. Be confident or don’t go ahead!

Target Audience

The very first thing is to consider about your target audience. The business plan should always be written and planned with the target audience in mind. Your audience will eventually become your customers and therefore, your plan should be directed towards their satisfaction.

Competition

Another important thing that you should think of is the competition. First of all, you should know about your competitors and should study their business properly. Your business plan should be created according to that, better than that! You will get an idea about the business environment by studying the competition.

Details

The best way to write or create your business plan is by mentioning every single detail, while remaining glued to the key points. It should be created with all the details that you have in mind so that the reader of this business plan seems impressed.

Capital

The most important thing to think about while creating the business plan is the capital. Whether you will be investing your own capital or will be taking it as a loan, is an important thing to be considered and kept in mind.

 

Techniques and responsibilities of a business owner

As a business owner, you will have a lot of responsibilities to fulfill along with adoption of right techniques to take off your business. Following on the right techniques and fulfilling the responsibilities properly can grant you business success easily. So, here are some responsibilities or techniques that should be adopted by a business owner to take the business in the right swing.

Accounting

One of the most important techniques as well as responsibility of a business owner is to keep an eye on proper accounting. No doubt, finance is the blood of a business and by keeping it under consideration, you will know about the profit or loss and other financial elements of your business.

Managing

Another important responsibility or technique is management. It is solely the responsibility of a business owner to manage his business properly. Appointment of right executives is a great technique that can help you in developing your business.

Planning Sales

Another responsibility of a business owner is to plan crucial aspects of sales. negotiating the deals, planning the sales, customer service, as well as other aspects are important techniques as well as responsibilities of a business owner that should be kept in mind.

Advertising and Marketing

Proper marketing as well as advertising is also important for a business owner. This again comes under crucial techniques and responsibilities of a business owner that can help in elevating the business success. Market planning, ad copy writing, press releases and other kinds of methods should be kept in mind.

Business Planning

One of the most important techniques and responsibilities of a business owner is business planning. Once the business has started, it is important to plan new projects for the business and implement them properly.

Identify your company’s strengths and weaknesses through a comprehensive business assessment

Business assessment is one of the crucial requirements of every business. It helps you in analyzing the risks, opportunities, performance, strengths and weaknesses of a business. Basically, it is an overall evaluation of your business where you get to know whether the business is running successfully or in failure or average.

Identify your company’s strengths and weaknesses through a comprehensive business assessment because it allows you to know whether the projects are of any use or not. Also, comprehensive business assessment and evaluation allows you to open up new avenues and projects for business. Apart from this, it can provide you appropriate solutions to get rid of the risks that can arise on our business. By comprehensive business assessment, you can improve the business in a lot of ways. It allows you to know whether your business is performing well or not.

Moreover, it facilitates proper analysis and evaluation and you get to know what activities prove to be strengths of a business and which ones prove to be the weaknesses. It leaves a lot of scope of business improvement, whereby you can focus on strength and improve them and also on weaknesses to get rid of them.

Comprehensive business assessment also allows you to find out the possible loopholes in any process or project of a business and it leads to development as well. Besides, it enables you to understand your business trade demands and focus on them. Primarily, comprehensive business assessment can be your business report card where you can find out everything about your company. It allows you to focus on your strengths and get rid of the weaknesses that force your business to stumble.

Considerations for Choosing the Right Business Structure

Before you start off with a new business, it is very important that you should choose the right structure of a company. Choosing the right business structure is a very important requirement for any business because it will determine a lot of factors like administrative tasks, risks or developments of a business as well as tax payments. So, here are a few things to be considered for choosing the right business structure.

Kind of Proprietorship

There are various kinds of proprietorship that you can choose. These include sole proprietorship, partnership as well as corporation. You can choose the one in which you feel most comfortable. The best of all these is sole proprietorship, though partnership can also work out to be good, if you maintain healthy business relationship with your partner.

Degree of Control

While choosing the right business structure, another consideration that should be kept in mind is the degree of control. You can either have full control over your business or share this control with your business partners or shareholders.

Degree of Formality

Another consideration is that of degree of formality. Whether you need simple and least formal organization or highly complex and formal organization totally depends on you. You can also choose a moderate kind of business structure where there is a sense of informality as well as formality, both.

Tax and Legal Requirements

The most important of all aspects is to consider legal as well as tax requirements of your business. You might choose very straightforward structure and pay maximum taxes, or you can also the complex structure where you will have to pay the minimum taxes. Also, there is a middle ground, where you can choose a little complex structure facilitating reasonable payment of taxes.

It is very important to study all these considerations before finalizing a particular kind of business structure for your company.

Importance of Business Financial Planning

The backbone of any business is its financial planning. Unless and until business financial planning is done effectively, even the booming business will not survive. Definitely, finance is the most important aspect of a business and planning its allocation properly is important too. By proper business financial planning, the business owners remain aware about the state of their business as well as analyze about the poor financial conditions in near future.

Business Financial Planning is important to deal with pitfalls

No business runs successfully all the time. If there are good times, there are also the bad times in a business and so with proper business financial planning, you can remain ready to deal with these bad times. Financial planning allows a business owner to deal with the pitfalls of a business. Clearing debts and anticipating rising costs can all be done with the help of proper financial planning in a business.

 

Business Financial Planning for ensuring that company remains on proper track

Business Financial Planning can ensure that your company will remain on the right tracks. Only the improper planning or complete lack of planning leads to dwindling situations like bankruptcy and insolvency. Therefore, in order to ensure that the company is working in proper order, you should go for right planning on quarterly basis.

Business Financial Planning for making right investments in diversified portfolios

The right and proper financial planning ensures that the finance is being invested in the diversified portfolios. This creates a source of steady and potential income, even during the bad times of a company. Besides, it can be very reliable source of finance for a company.

All these reasons make it very evident that financial planning is a crucial aspect for any business.

How Being Able to Sell Anywhere Can Promote the Success of Your Restaurant

The restaurant industry is extremely competitive. There is a high failure rate for new restaurants, and even established restaurants have to be careful to make the right decisions to ensure success. The proliferation of technology has made it a bit easier for many restaurants to compete and to find success.The NCR restaurant POS, an iPad point-of-sale system, is a valuable tool for restaurants, in particular. Here are a few ways that it may be able to help restaurants to succeed:

Sell Anywhere

An iPad POS system does not need to be connected to an outlet, unlike a traditional POS. Nor is it too large and cumbersome to carry. Instead, you can carry it anywhere. That means that you can take the iPad to customers, providing them more trust in the sales processing procedure. It also means that you can go out to meet your customers in the community, such as at local festivals or at food truck rodeos. Being able to sell anywhere allows you to expand your reach, which will help you to expand your sales.

POS-2

Faster Customer Service

Long lines at the POS can create longer waiting times for your customers. Longer waiting times make for unhappy customers, and unhappy customers are not likely to return to your restaurant. By using an iPad POS, you can have several points-of-sale that servers can take directly to their customers’ tables. This can reduce the wait time to nothing, improving the experience that your customers have.

Save Money

An iPad POS system costs a fraction of the price of a traditional POS. As a result, you can save a lot of money while also giving your customers better service. This will increase the return on your investment exponentially. You spend less, but you have the potential to make much more by being able to sell to your customers anywhere, expanding your reach and increasing their satisfaction with your service.

There are many other great benefits to using an iPad POS, including being able to track your sales so that you can better target your marketing efforts. However, being able to sell to your customers anywhere is one of the primary benefits, and it’s one that can help you maximize your return on your investment and to promote the long-term success of your restaurant.

Why Invoice Factoring is Saving Small Businesses

 

Let’s not sugarcoat it: the economy is down and money is harder to come by. As a result thousands of businesses across the country are facing stacks of unpaid invoices and contracts that clients defaulted on. People claim they can’t afford to pay the remaining fees to their contractor, or auto shops will get rear-ended by people who toss their invoice to the wind.

No business can afford to lose clients. As a result, business owners will tread lightly and fear losing all future business dealings with a customer if they send a debt collector after them. Unfortunately when a business fails to collect, they are giving away their service for free and on their own dollar. This can cause companies problems in stocking their shelves with inventory or even meeting payroll. They can lose employees and shut their doors.

There is a great solution to problems such as this: invoice factoring gives instant cash to businesses based on their totaled unpaid invoice sums and collects form the clients while maintaining strong relations with the business. This service keeps doors open for business and people employed while stimulating the local economy.

Why Invoice Factoring is Saving Small Businesses

Why use factoring services?

It can take ages to get paid on unpaid invoices. Instead of making nagging phone calls and firing off daily e-mails, you can find a factoring company that can advance you the fundsimmediately and set off to collect from your clients and do a little damage control all at the same time. The cash will appear in your account within 24 hours, and the factoring company takes 100 percent of the credit risk. Most factoring companies provide their services with no upfront fees and require only a quick and simple credit check. Once approved most businesses get up to 90 to 96 percent of the amount owed to them with the remaining fundsgoing to pay for the service fee.

What the business world has to say

Professionals of the financial world praise invoice factoring. According to the UK business finance publication ‘Simply Business’ they state that invoice factoring is good for business in resolving issues with unpaid financial contracts. Factoring companies even helps entrepreneurs plan their cash flow more effectively. The service is also highly regarded due to the factoring company’s ability to play a pivotal role in managing the sales ledger and hunting down defaulted clients.

Just talk to any business that has used a factoring service and they will praise the industry for their skilled communication tactics that retain and nurture business relationships. Often business owners are worried that hiring a third-party debt collector could tarnish their valuable relationships with clients. But accounts receivable factoring services use a finely tuned vehicle of empathy and treat each company’s client with kid gloves while collecting on past due funds.

Face the facts

Chances are you probably haven’t used an invoice factoring company before. Often people who were burned by high interest rates from merchant money lenders will view factoring services as being the same type of animal. But this couldn’t be further from the truth. Factoring companies partner up with troubled businesses and restore their finances to healthy levels. Do a little research and discover the difference for yourself.

Executive Eric Schiffer Conquers SEO Industry While Inspiring Other Experts

Eric Schiffer is known in his industry as a businessman maven and leader. He is one of the most admired people in the SEO field because of his efforts to improve the search engine optimization services that are being offered in the industry. One of his most lauded acts was the building of the popular Search Engine Optimization Performance, Inc., also known as SEOP, Inc. He organized and led this popular SEO service firm in order to achieve the popularity that it enjoys today. He is proud to have established the high reputation of a SEOP as an optimization provider, an entity he had created that is meant to deliver proven established search engine optimization and marketing strategies and methods. The latter helped clients to enjoy top rankings in search engine results.

As founder of one of the most successful optimization services in the country, SEOP Inc, he continued to work in order to ensure that his company prospered all the more. His tenacity when it comes to researching and looking for better and more effective optimization technique is the reason why many other SEO experts look up to Schiffer as their role model. They are just inspired that Schiffer is able to transform his company to become one of the most sought after search engine optimization and marketing services around.

The main reason why Schiffer has become highly successful in obtaining his company’s own success is because of his ability to innovate. In order words, his company was highly adaptable when it comes to dealing with the constant changes in the field of search engine optimization. These days, SEOP Inc. is known to come up with techniques that produce relevant content, appropriate keywords, and effective back links; all of which are meant to help a website enjoy top search engine ranking.

Undoubtedly, Eric Schiffer has conquered the SEO industry through his SEOP Inc Company. He led it to become one of the most in demand services for website owners and webmasters with link building requirements. Apart from this, he became a role model as a business for his long list of business and industry achievements as well.

The Reason MBA Consulting is Great

MBA admissions consulting is absolutely great and will help you get into your favorite school of choice easily, with just a bit of effort and money spent on the matter. If you’d like to attend your first choice school then it is imperative that you look into getting professional business school admissions consultants. For great mba essay consultants, try amerasiaconsulting.com. A lot of students who are international depend on the advice from an MBA admissions consultant since it may be their best bet at getting into a prestigious school in another country. Although difficult, if you have the skills needed to succeed it is for sure not impossible. Getting an MBA admissions consultant can be just what you need to understand the process of applying to your business school of choice and actually getting into it and starting your enrollment. If you aren’t too sure what MBA admissions consultants truly are, we highly recommend researching more on the topic and figuring out if they will be beneficial to your process. Some students can get enrolled into an elite business school without the help of an MBA admissions consultant, and that’s great! But for many students, especially those who don’t know the groundwork or where to start, the help of an MBA admissions consultant can be what changes your life and helps you to get into the school of your choice. Some admissions consulting agencies will cost you about four thousand dollars per school you are applying to, so make sure to really take the time to research which group will be best for you both academically and financially. If you want to get a better idea of what your business school really wants from you and what makes a perfect student in their eyes, hire the help of an MBA admissions professional and get started on your future education. With the right knowledge, you can go anywhere!

JG Wentworth Commercial Ads: Huge Success to the Public

Without a doubt, JG Wentworth Commercial ads were highly successful in delivering its message to the general public. It enumerates the services that it can provide to clients, the most important of which is its service of offering ready cash money in exchange for the annuity or settlement of a customer. The current business success of JG Wentworth is due to the fact that its commercials have captured that hearts and minds of the people.

The popularity of the commercial is so great that the company decided to have it running for many months on Television. The first commercial, which is the opera, and the subsequent bus commercial were very effective in capturing the attention of the general public. Such commercials have proven to be major tools that effectively conveyed mission and services of the company.

However, it must be said that the bus commercial was more challenging and harder to conceptualize, according to the marketing team of JG Wentworth. It made sure that the creation was done in a less serious and even fun manner in order to reduce the difficulty of producing the ads. Because of this technique, the final ad product became highly polished and possessed superior quality. In effect, the bus commercial allowed for the message to be directly caught and imbibed by the viewing public and prospective customers. And while JG Wentworth management admitted that they are challenged to equal if not surpass the success that they gained from their opera commercial, their final bus commercial had proved to be a worth sequel.

With both opera and bus versions of JG Wentworth ads, it is clear that they were carefully planned and created by professionals and experts in marketing and promotions. Both concepts of the commercials were simple and direct, yet they proved to be effective tools of advertisements to the viewing delight of the public and potential clients. Without a doubt, JG Wentworth delivered the goods as far as reaching its target market through effective ads is concerned. Indeed, with the existence of such efficient commercials, this allowed the company to gain a wide base of customers; particularly those that have pressing need for cash and possesses annuity payments to offer in exchange for it.

A Comprehensive Guide To Small Business Investments

 

These days a number of opportunities and benefits are given to the small businesses by the state government.Many investors are seeing this as an opportunity to put their feet on the ground. If you will look into the graph of the past few years most small business fail within years of their startup. Alex Von Furstenberg the much cherished name in the opportunistic investments is the founder and Chief Investment officer of the Ranger Global advisors. Bellow is mentioned some points to be kept in mind while making small business investments.

Quantum of Risk

Never invest that amount which you cannot afford to lose. Never use those funds which are needed or the education or loan repayment; as this may be quite damaging because if you lose it will be very difficult for you to manage your goals.Otherwise use those funds which you have kept for other less important purposes such as vacation or new car. If you are planning to invest a large amount of money in small business it is better to invest smaller amounts in a number of small businesses. A one successful investment will offset the losses in many other investments.

Analyze your investment

You need to take care of certain factors before making and after making your investment. Since there is no shortcut to success you have to make calculated decisions. Do a thorough analysis of the industry or sector you are planning to invest in.Inquire about how much time you will get the expected investment. Also you should invest in such a company which has a realistic marketing plan and is reputed in the market.

Making Money

One of the main ideas of making money on your investment is to resell the shares in the market. If it looks that the company is not likely to go public within a reasonable amount of time it is not a good decision to invest into it. The other way of making money on your investment is merger or acquisitions and receiving the cash.Alex Von Furstenberg has helped a large number of clients and has guided various investors from the first step of planning to the final step of achieving targeted results.

Read all the Terms and Conditions

Before making any kind of decision you should read the brochures and documents regarding the investment. Make sure you study each and every dimension of the company and the various associated parameters.

 

Renter’s Insurance Provided By Don Bullard

Don Bullard has been the certified instructor for an Oklahoma Insurance Commission for more than 20 years. They offer many chances for claim agents to get complimentary continuing education credit all over the year. Their attorneys go to companies around the US every year to teach courses in the Compensation field of the workers worth CE credits for the adjusters.

They host the complimentary seminar in the Dallas, TX for nurse case managers, employers and adjusters every year. Their seminars are recognized for the rarest in the presentation comprising compensation injuries of staged workers. Most recently, professionals instruct in excellent ways of communication with the insured as well as the injured claimant.

Their Insurance suggests getting an insurance policy for the property and for the personal security. Insurance for the renters is indicated for people who reside in the rented houses or in apartments. This plan protects the personal things in events of calamity or theft. It can cover some liabilities and personal expenses. In general, this plan doesn’t cover the broken walls and fallen ceilings. However, it can assist you for the damaged TV or stereo, and for the temporary lodging costs.

Don Bullard recommends checking the “named perils coverage” announced in the policy while buying the renter’s insurance. This includes the list of all potential causes of the property damage insured by an insurance policy. In general, the list comprises freezing, aircrafts, riots, explosions, hail or windstorm, lightning or fire and various usually happening risks that might damage your property or home.

This insurance is an excellent way of protection for all your personal things, but not for your family members. In general, renter’s insurance covers only the personal things of yours and your family members. You have to read their terms and conditions, and their agreement before buying a renter’s insurance plan. You should have to be aware about various things the while dealing.

Bullard insurance and their insurance agents will help you in getting the best insurance plan according to your requirements. They are able to provide you the best insurance plan that suits your needs. You should also be careful about every small thing and read their agreement before signing. Also, they are providing various other kinds of insurance plans/policies depending on the different customers and their needs. They are able to provide you everything you need in the single insurance plan. They are really best in offering the best insurance plan.

 

Jon Queen DC and His Hunt for Alternative Energy Solutions

The demand for the nuclear energy is on the top as the natural resources, like – coal, petroleum is getting significantly low and expensive. Ukraine is a developing nation, though it has been always regarded as a part of former Soviet Union. The country has failed to create its new reputation in the world. However, enough scopes are there in this country, starting from natural resources to nuclear resources, which can take this country to leap and bounds success. Foreign investors are now looking forward to invest in this country, notifying the country’s potential to supply nuclear power.

Jon Queen DC, one of the leading names from Ukraine in the domain of economics, has helped his country significantly in a number of economic aspects. Being experienced in a lot of projects, which deal with energy, economy and many other things, he provided a significant thrust to his country’s economy. His recent projects are related energy and resources of Ukraine and through his expertise he has provided a rock-hard base to his country in the sector of renewable energy.

The present world is striving for an alternate energy solution and in this scenario plenty of people or organizations are working for it, in order to find a solid foundation of the solution. However dealing wi8th alternate energy is not at all easy as alternate energy is yet to undergo a lot of experiments. Whether it will serve the mankind or not, whether it would be effective enough or not are the questions that still make us to think of the alternate energy all over again. Jon Queen has been able to successful in finding a lot of answers regarding the alternate energy. In his seminars, he disclosed his knowledge to make people understand about the importance of alternate energy, as well as described the “Kyoto Protocol” meticulously.

Under “Kyoto Protocol”, it is mandatory for the countries use alternate energy, in order to reduce carbon emission. This will not only save the energy resources, but will also serve mankind with lesser polluted environment. Though he is working on the carbon and alternate energy options, he is also pretty famous as an investment banker in his homeland Ukraine. He possesses the work experience to deal with different financial and energy related issues of the countries from Asia, as well as from Eastern Europe. Being a part of financial services, in the House of Representatives in USA – is the biggest career achievement for him till date.

Landlord insurance and how to get great quotes for your business

When you own a business, even if it is a small business, there comes a point where you have to start owning an office, perhaps even a whole building. What many people discover is that if they pay to rent an office inside of a building, it ends up costing a lot more money than if they were to simply buy the building, and then rent the other offices to other people. As a result, a lot of companies are also into real estate, whether by choice or convenience. But having tenants means that you may be faced with problems, like damaged goods in your building by unscrupulous people, or complaints that your building does not answer their needs. This is where landlord insurance comes in, and to get the best coverage you can in case of problems, you need to navigate landlord insurance quotes carefully. In the case of an individual it can be done fairly easily, but if you own a business, then most insurance providers will expect you to require a lot more coverage, and those rates will go way up.

To make sure you get the right coverage at the right price, you need to make sure you do a couple of key things so that you know what to expect. Business insurance quotes can be daunting because they typically are so much higher than individual policies. This is because corporations typically do not benefit from promotions and other ads that you may see on TV or web site banners about very cheap rates. In fact, most insurance companies subsidize the individual insurance policies with corporate rates. So if you have a small business, the last thing you want is having to pay a lot of money just for your insurance policies, premiums that you simply can not afford. Yet you do not want to cut down on coverage either, and have to spend a lot of money down the road when something happens with one of your tenant. So instead you need to do the last available option which is navigating quotes in the best way you possibly can, by knowing what to expect and the type of coverage you need before you ever go to see a broker, because you have done your homework.

These types of quotes can be hard to comprehend if you do not have some basic information on how insurance companies work, and this is why before you even think about getting some landlord insurance policies, you need to find out everything there is to know about real estate, and the type of problems that can arise. Only then will you be in a position to go see an insurance provider and know exactly what to expect. Most corporate policies can be customized a great deal, and by knowing the coverage you need, you can then remove clauses that you do not, and save money without sacrificing coverage.

Small business insurance and potential pitfalls

When you run a small business, regardless of the type, there are a lot of things that can add overhead and management issues to your daily activities. As a manager, you need to make sure you are covered in many ways. This is especially true if you deal with a lot of people. You may have employees, clients that come to your location, business partners, and so on. All of these items add risks, and if you have to cover all of this with your own time and money, it can quickly become overwhelming. This is why there are a number of small business insurance policies, and those are crucial to cover you as an owner, along with the company itself, from unknowns. Of course, there are pitfalls, like with any other insurance policy, and it’s up to you to figure out what these are, and how to steer clear. Thankfully, good information can go a long way to make sure your business stays safe.

Small business insurance comes in many different packages. Like many other insurance policies out there, including loan insurance or house insurance, this type of policy is sold by many companies out there. Selecting the right insurance company is the first step you need to do in order to get a good policy. Sometimes the bigger names don’t always offer you the best deal. Of course, if you run a large corporation, you can expect to get great deals. But as a small business owner, you have to shop around. The large insurance companies make money on people like you, who know they need insurance, but may not know exactly what their policies need to cover. This is the second tip that you need to keep in mind in order to save money. While you do need coverage, you also need to be smart on what type of coverage you want. For example, if your business involves workers having to go out in dangerous locations, you will obviously need better coverage. But you don’t need to get insurance for something that has no chance of happening.

Getting a good small business insurance policy is key for many business owners, and is the result of taking great care when you shop around the various options. Thanks to good information, you can cut your costs down while still maintaining the level of coverage you need. Remember that many locations require you to get coverage, so it’s not like you can avoid being insured. If your employees sue you for some malpractice act, for example, whether or not they are right, you will need to go to court and handle the situation. This can lead to vast costs which may not be something you’re able to afford. This type of insurance prevents having a big financial burden on your business or even yourself. Thanks to this type of policy, assuming you took the time to read all the fine print, you can be covered whereas a simpler type of insurance may not otherwise cover you.