Posted by admin on October 13th, 2008 — Posted in Insurance Agencies, Internet Hardware, Living With Investment
A few years ago while in a horrific car accident my cousin had to go in regularly for MRI scans of his head and neck. Fortunately he had survived an otherwise indescribably head on collision with a semi with only a few seemingly minor injuries. The driver of the other car did not. Immediately following the accident it was found that he had several fragments of the windshield, rear view mirror, and other debris lodged in his head and neck. Once at the hospital he went through several CT and MRI scans. Initially they weren’t sure if he could see after the accident and what repercussions would evolve after removing the debris. His daughter had several questions at the time, and wanted to know what each machine did.
When she first saw the CT and MRI equipment she thought as many children that it looked like a donut. She recognized other equipment from television and before her younger siblings were born such as when the doctor used ultrasound equipment to monitor her mother during pregnancy.
I don’t know if the machine were new or refurbished MRI equipment, but our fear, while she was trying to run around at see all that she could, was that she might accidentally break something. Fortunately we stayed relatively safe, and surprisingly enough she was not afraid of seeing her father with his minor injuries or the exams performed.
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Posted by admin on May 13th, 2008 — Posted in Insurance Agencies
Anyone who can afford a yacht knows that it is a major undertaking. Caring for a yacht is hundred times harder than taking care of a ten-foot johnboat used to tool around a lake searching for bluegills.
A yacht is nothing short of a house on water. With all the comforts of home and then some, it is a marvel of engineering and expense to boot. Affordability is not really an issue when it comes to yacht ownership, but protecting one’s investment is. When you have spent more on a boat than other people spend on a home and car combined, then you have every right to make sure that the money you spent will not be in vain. Insurance is the only option in this case and you should choose the policy wisely when dealing with large sums of money like the cost of a yacht.
First off you will need to determine the coverage for the entire yacht. This amount will represent the amount that you would need to get back should the vessel become a total loss. There are several ways in which any type of boat can be lost, the least of which being theft and the worst being explosion. An explosion is a more real threat then you realize when you consider the amount of fuel being carried below decks of a large yacht. A misplaced collision with another boat can cause an explosion that will most likely destroy the entire craft. This type of coverage is the normal amount required by a financial agency that has fronted the money for the yacht. This is to protect them from loss.
Next you should figure the equipment on board the boat that should be covered. This can consist of the motors, navigational equipment, riggings, anchors, and radios. These items are essential to the yacht’s operation and should be protected against loss or damage. This type of coverage can also include any personal items on board that need to be protected. This is similar to homeowners insurance in that respect as those policies generally cover household contents to a certain degree.
If the boat is stored in a region that is prone to violent weather conditions like hurricanes, then a provision in an insurance policy for this type of loss should also be considered. The loss from weather related occurrences is tremendous and most standard insurance policies do not offer coverage in this area. It may cost a considerable amount more to be covered against weather related damage but it will be worth it should the need arise.
Lastly you should consider damage to other crafts caused by your yacht. Even the most experienced seaman can make a mistake or an error in judgement and this can cause damage to boats in or around the area. Protecting yourself with insurance coverage against such incidents can mean the difference between terrible financial devastation and no more the matter of filing some paperwork with your insurance company.
Mansi Gupta recommends that you visit www.independent.ws/2006/01/yacht_insurance.html for more information on yacht insurance.
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