Most people don’t know that your monthly insurance payments can be impacted by the town you live in.

The part of the country you live in, the city and even the zip code can be a factor on how much you pay for auto, home and other insurance. The size of your town, theft statistics and probability of major storms all affect the number of claims an insurance carrier expects to pay and therefore often makes a huge difference in the cost of for your insurance policies.

The lines of insurance most impacted by your location include:

Vehicle insurance

Home insurance

Apartment Renters insurance

Healthcare insurance

Vehicle Insurance

People have more vehicle accidents in towns where there are more vehicles and people per square mile. Additional cars, means more autosto run into and more cars that can hit you. This means that the vehicle insurance company pays more in claims and the the rest of us pay more for the coverage. The crime rate, including the rate of vandalism and car thefts in a given area also has an impact. Severe weather, means more automobile accidents and higher premiums as well

House insurance

House coverage is also impacted by severe weather. Those living in hurricane zones are tremendously impacted by this fact. Mother Nature costs insurance carriers in other ways. Ice, rain and low temperatures cause more and also higher costs for coverage.

The cost of rebuilding and repairing homes in a town is yet another factor that makes prices for insurance go upward or downward. If lumber or other construction materials have higher prices or the cost of labor is higher in your town verses the one next door, your prices may be much higher.

Apartment insurance

The crime rate can make a huge difference in whate we pay to cover our apartments. Theft is one of the major things that an apartment renters insurance contract protects us against and therefore if there are more break-ins in your area your apartment insurance carrier may pass those higher prices on to their policy holders.

Health Care insurance

Location has less to do with the frequency of sickness and injuries than it has to do with the cost of that treatment. The cost to set a leg in a little town in Wisconsin will be much less than the price to set the same broken bone in Boston. When medical professionals cost more, insurance costs more. Insurance companies may charge the resident of the more expensive area a much higher rate because of this.

What to Do?

It is unlikely that you will ever change your residence based solely on potential increases or decreases in your insurance premiums. But, if you’re looking for a new home, you should take this into account along with the other factors you and your spouse would generally consider about when selecting your next home.

Explain your situation to broker that works with people in an area that you are considering living in and ask them to estimate costs for different insurance coverages. The insurance lines ones that are most affected by geography are auto, homeowners, apartment renters and health insurance.

Often, a more expensive house will have lower insurance costs. This can mean that you and your family can afford to live in a place to live that you might not have thought you could.

What You Should Know about Exhibit Budgeting

• How to differentiate between normal marketing expenses and exhibit marketing  expenses
• The exhibit is the largest initial expense, but your ongoing exhibit marketing will easily surpass that initial cost
• Create a budget and maintain an accurate Return on Investment (ROI) on your exhibit marketing
• Include the Exhibit Costs, online expenses, and Show Services when developing your budget

An Accurate Exhibit Budget

Companies should define a workable exhibit marketing budget, one that includes all related costs. However, the line between marketing expenses and exhibit marketing expenses can be somewhat fuzzy. You will want to create a well-defined budget that separates them.  
The exhibit is typically the largest initial expense. However, over time, the cost of using the exhibit will easily surpass the initial cost of the exhibit, often significantly. When constructing a budget, evaluate your ability to maintain the expense year after year. Weigh the repercussions of scaling back. In some industries, scaling back can be more damaging than never exhibiting in the first place.

Creating an Exhibit Budget

Creating a budget allows you to figure an accurate ROI. You should account for pre- and post-show marketing, travel costs, lodging, and entertainment. You’ll need to factor in  freight, drayage, show labor, carpeting, and electricity expenses. These can be significant expenses. Most I&D companies will estimate the labor time from a faxed set-up drawing. Most freight companies can estimate the shipping charges based on dimensions and weight provided by the exhibit seller. You should also factor in minor repairs due to freight damage or repeated set-up. Generally, common sense will determine if the exhibit packing is sufficiently for repetitive use, the vibration of the road, and the pounding of the forklift during freight handling.  
Don’t forget to factor in the usable life of your exhibit and assign a cost to each show. On average, an exhibit is effective for three years. Any longer and the exhibit may be dated or worn. Any earlier and the marketing value is not realized.

Here is an example to consider: a buyer who participates in six shows per year is considering two 20 x 20 island designs that cost the same. The first exhibit might weight 50% less than the second, saving freight and drayage costs; however, the second might setup in half the time of the first, saving labor costs. Additionally, the second might be crated better, yielding a 20% longer life or at least a higher resale value. You’ll want to consider all these expenses before making a final decision. Your exhibit consultant can assist you with calculating your estimated expenses for each show.

Calculating Your Budget

Consider the following when developing your budget for Exhibit Costs, Onsite Expenses, and Show Services.  Onsite Expenses and Show Services can be calculated using the forms provide by the show management organizer. Those rates vary depending on the show. This list does not include travel, meals, lodging, or promotional incentive expenses, nor does it include normal payroll expenses.

Exhibit Costs

• Exhibit Price
• Total Number of Uses
• Weight/Packagin

Onsite Expenses

• Booth Space
• Lead Machine Rental
• Furniture and Plants
• A/V Equipment
• Flooring

Show Services

• Drayage (moving your exhibit from the dock to your booth space)
• Electricity/Electrician
• Internet/Telephone
• Decorator
• Labor for I&D (installation and dismantling)
• Booth Cleaning
• Booth Security

Creating a well-defined budget and comparing it against actual expenses is the best method to track and manage your total investment in a particular show. If you sell products in a retail show, then the revenue is easy to tally up and compare to the expenses for the ROI. If your show is one where prospecting, branding, and market positioning are the norm, then the ROI is more difficult to measure. Other benefits are difficult to measure but quite valuable just the same. These intangible benefits may be direct or indirect, and exhibit marketers look for subtle hints of these returns and weigh them against the opportunity cost of not exhibiting.

For more information about trade show or events marketing, give us a call or send us an email. We welcome the opportunity to assist you with your next event.