Worldwide Coverage – Why You Need It
Worldwide Coverage – Why You Need It
In his popular book “The Wealth of Nations,” Napoleon Hill explained how a man’s ideas and his experiences will create his unique fortune. In his book, he divides human experience into five major parts called the globalverse-empire, ideal, idealism, politics, and commerce. According to Hill, these parts-empire, idealism, politics, and commerce-together form the bulk of mankind’s experience and govern its destiny. For each part, there is a lesson to be learned that can help individuals achieve their own level of personal happiness and prosperity.
The fifth part of his book, commerce, relates to the need for worldwide coverage. If something occurs worldwide, it happens or exists through all countries or continents. Therefore, everything that has an effect on humankind can be found in the worldwide coverage territory. Napoleon Hill reported in his book that almost all knowledge, not only of politics and economics, but also of the arts, sciences, and technology, lies in the worldwide coverage zone.
In order for you to understand the importance of worldwide coverage, consider this example. Suppose that you operate a factory in the United States and are involved in a fire that destroys all your production records, equipment, and material. If the fire was in New York City, your factory would be considered a victim of the national disaster area and you could file a claim with the worldwide coverage zone. However, if the fire had occurred in Paris, France, you would most likely be denied the claim because your operations are situated outside of the French zone of insurance laws. Your claim would then be turned over to a Paris-based company that handles such insurance policies. The Parisian company would then decide whether or not to make your request for compensation.
A major benefit of researching worldwide events is that it gives you a unique opportunity to apply the “writer’s block” described above to your own situation. You see, there are times when you simply cannot think about a particular aspect of a global catastrophe because you’re simply too busy being angry about it. When this happens, try applying the “writer’s block” to yourself and ask yourself, what is the greatest benefit I can derive from this? This will give you a good opportunity to focus on the positive side of each event and use the footage of globally protested bystanders to your advantage. You will have an easier time convincing companies to cover you worldwide due to your ability to show them that not only are you in a unique location, but you have access to a great number of resources that other businesses do not have.
One more great way to use worldwide coverage is when you are in the process of filing personal property insurance policies. Each individual state has its own unique insurance laws that govern the protection of individual rights to their belongings and valuables. As a general rule, the more coverage a policy requires, the more fees that will be required. Therefore, it is always helpful to research worldwide coverage territories in order to determine how much your policy will cost overall and what you can expect to pay in the event of loss.
In short, there are many ways that you can utilize worldwide coverage. It helps to develop a good understanding of your personal insurance needs, as well as those of your global company. Make sure that all aspects of your life are covered, so that whenever an unfortunate event strikes you won’t be at a loss for help. A little preparation and research go a long way towards easing any unexpected difficulties you might experience.