There are many hidden costs associated with owning a boat: Dock fees, general maintenance, and winter storage, just to name a few. One expense that boat owners should never skimp on is purchasing the best available insurance policy for their watercraft.
Because buying a boat is a huge investment, owners should protect their boat with comprehensive insurance coverage. Plans are often based on the type and size of the boat. Many Homeowners and Renters insurance policies provide limited coverage for property damage if the boat’s engine is less than 25 mph horsepower or if it is a small sailboat, but without additional insurance, no liability coverage is included.
Owners of larger, more powerful boats and yachts will need to purchase a separate insurance policy for their boat. The insurance company will take into account the size and type of boat, its value, and where the boat sails when drawing up the conditions and cost of the policy.
Separate boat and watercraft insurance policies provide much more coverage to the owner. These policies generally include loss and damage coverage to the boat’s hull, machinery, furnishings, fittings, and any permanently attached equipment, like a navigation system. Liability coverage is extended to:
- Bodily injury to other persons
- Damage to other’s property
- Legal expenses associated with non-consensual operation of the boat
- Medical costs for injuries to the owner and passenger
- Boat theft
Policyholders can choose the liability limits of their plan, ranging anywhere from $15,000 up to $300,000. The deductible cost for property damage is $250, and it ranges between $500 and $1,000 for theft and medical expenses. Of course, policies can be individualized based on the boat owner’s needs. Other endorsements and coverages can be added to the policy to cover the boat’s trailer, fishing gear kept aboard the boat, and any other accessories. Also, make sure to ask whether or not the policy covers the boat while it is being towed.
Just as Auto insurance providers offer discounts to their policyholders, discounts for watercraft policies apply in certain cases. For example, insurance companies favor diesel-powered engines over gasoline ones because diesel fuel is more stable, making the engine safer to operate.
Other discounts are related to safety equipment kept on the boat. Having items like fire extinguishers approved by the U.S. Coast Guard and ship-to-shore radio equipment could reduce the amount of the premium. Also, completing a boater’s safety course offered by the Coast Guard Auxiliary, the American Red Cross, or the U.S. Power Squadrons can gain some favor with the insurance company. Maintaining a clean boating record is just as important as being accident-free on the roadways, when it comes to lowering insurance rates. Premiums are usually discounted for every two years the boater goes without an accident or filing a claim. Bundling your Watercraft insurance with Homeowners and vehicle policies is another good way to save money on coverage costs.
A solid insurance policy gives boaters the peace of mind needed to set sail and enjoy the open waters. Nothing is more relaxing than knowing your investment is covered. Get in touch if you have questions.
I had lunch at The Farm (The Farm Bakery Cafe & Gifts ) on Wed with Dave Whiting and Dave Dias.
Had a fantastic meal with great conversation. It’s been several years since I’ve been there. They are well known for their fruit tarts which were excellent as usual. They also do a lot more now, breakfast, lunch and a whole host of yummy bakery products.
Here is link to their extensive menu- https://www.thefarmbakerycafe.com/wp-content/uploads/2021/10/Fall21-Menu-Final1.pdf
If you are in the area, go check out The Farm, I highly recommend it!
Your Insurance Agent,
Numerous environmental conditions at your workplace and/or home can cause you to suffer an allergic reaction that ranges from mild to life-threatening. Consider these tips as you reduce allergens and protect yourself.
Depending on your job and workplace, you may be exposed to numerous allergens as you work. Consider this partial list.
- Latex gloves or equipment
- Ink toner
- Cleaning chemicals
- Floor wax
- Cigarette smoke
- Food, including nuts and dairy
- Paint fumes
- Pet dander
Possible Allergic Reactions
The allergic reaction you experience can be mildly annoying or severe and life threatening. Be aware of these possible reactions.
- Contact dermatitis
- Swelling around your mouth or elsewhere
- Trouble breathing
- Anaphylactic shock
What to do if you Have an Allergic Reaction
Seek medical treatment as soon as you suspect you’re having an allergic reaction. To provide the best possible treatment, your doctor or emergency medical personnel may ask for a list of possible allergens to which you may have been exposed.
How to Prevent Allergic Reactions
While you can’t always prevent allergen exposure, you can advocate for an allergen-free work environment. Ask about switching to natural cleaning supplies or banning peanut butter as you remove allergens that affect you and your co-workers.
You may also take protective measures. Wear gloves, use a respirator or open a window as you reduce exposure to your known allergens.
Request special accommodations, too, especially if you have a known allergy. According to the Americans With Disabilities Act (ADA), you’re considered disabled if your allergy limits your activity level. In this case, you can request that your employer improve ventilation throughout the building or allow you to work a different shift when allergen use is limited.
What Does Workers’ Compensation Cover?
By law, your employer must provide a safe work environment. If you suffer an allergic reaction to chemicals, cleaning supplies or something else and can’t perform your job, you may be eligible to file a Workers’ Compensation claim.
Workers’ Compensation benefits could cover your medical treatment, a portion of your lost wages and other expenses. However, you must prove that the allergic reaction stemmed from something at work and not food, medication or another environmental condition you encounter at home or elsewhere.
If working conditions or environmental factors cause you to suffer an allergic reaction, you can file a Workers’ Compensation claim. Discuss your specific case with your Human Resources manager and doctor as you protect yourself at work.
To celebrate St. Patrick’s Day, did you purchase a home DNA kit? The results reveal facts about your ethnicity, ancestry, paternity, and health. However, consider several facts about the use and safety of home DNA tests before you purchase one.
How your DNA is Used by Others
You can learn valuable information from a home DNA test. Your data could be used by other people, too, though, in several ways.
- Familial DNA Searches – You could be contacted by family members who may wish to build a relationship or do you harm. Additionally, law enforcement personnel can search DNA sites for familial connections that help them find crime suspects or solve crimes.
- Health Recommendations – You can pursue professional medical treatment based on your DNA results, but prescription and over-the-counter drug companies can also access your information and spam you with recommendations for their medications, vitamins and supplements.
- Insurance Queries – Life and health insurance companies can access your DNA results, determine if you carry a gene that causes diseases or increases your desire to take risks, and decide if they want to insure you.
- Employment Discriminations – The Genetic Information Nondiscrimination Act passed in 2008 forbids employers from hiring or firing anyone based on genetic information. However, your DNA records are public knowledge and easily accessible by employers.
Are DNA Tests Safe?
Your DNA includes your complete genetic code, making it one of your most valuable possessions. For this reason, carefully consider who should have access to your DNA data and sample.
- How the company stores, uses and shares your information.
- When and how you can access your data and sample.
- If your sample will be used for research.
- The security of the digitized copy of your data.
- What happens to your information if the company is sold or you cancel your account.
- Consider skipping the extra questions about your lifestyle, health habits and personal preferences. Anyone can search the site’s database and discover your identity along with your private information.
- Consider how the results could affect your family’s privacy. For instance, would you want long-lost relatives to contact you?
- Discern if you’re emotionally ready to learn that about illnesses or diseases you could develop. Home DNA companies typically do not include counseling like genetic clinics offer.
- Hackers want your personal information, so research the reputation and security protocols of the DNA site before you sign up.
Home DNA testing can reveal amazing details about your ancestors, health and future.
Do you have a pile of papers collecting dust on your desk, in your filing cabinet or in a safe? Instead of stockpiling every electric bill, tax return and retail receipt from the last 20 years, learn which papers to keep and which to toss.
Bank records – Shred your checking and saving account statements monthly or after you reconcile your accounts.
Credit card statements – Shred them after you pay the bill except if you need to prove a charitable donation for your tax return.
Health records for humans and pets – Keep medical records and paperwork that documents your health history, including details about medications, immunizations, x-rays, medical tests, surgeries and major health events.
Instruction manuals – Keep these papers until you sell the item.
Insurance policies – Save copies of your auto, home or renters insurance policies to prove you’re covered and to compare coverage during your annual renewal. Shred the old copies when you get new ones.
Investment statements – Shred monthly and quarterly statements but keep annual ones until you sell the investments.
Loan documents – Shred closing documents for loans after you pay them off.
Pay stubs – File with your tax return information until you file your taxes and then shred them.
Retail receipts – Shred or toss receipts after you reconcile your receipt with your budget. Keep them if you need to return an item, purchase items that are eligible for a tax deduction or wish to retain proof of an item’s original cost.
Savings bonds – Keep them until you cash them in.
Tax returns – Retain them and any supporting documents for seven years in case you are audited.
Utility bills – Review each month’s bill for errors then shred them.
Vehicle records – Retain receipts, registration info, titles and maintenance and repair records until you sell the vehicle.
Warranties – Store these until you sell the item.
The following papers you should store in a safe place indefinitely. Consider making copies of these documents, too, and storing them in a location outside of your home.
- Birth certificates
- Social Security cards
- Marriage licenses
- Divorce decrees
- Military service records
- Pension-plan documents
- Estate-planning documents that pertain to your will, power of attorney, end of life and trusts
- Life insurance policies
- Death certificates
Whether you store your papers in a pile on your desk or in a safe deposit box, reduce clutter when you understated which papers you need to keep.
Is your vehicle ready for spring break travel? It will be when you follow this checklist of six helpful tips.
1. Fill the Fluids
Windshield wiper fluid, coolant, oil and transmission fluid deplete quickly over winter. Fill them to the recommended level for your vehicle as you prepare the engine to operate properly in warmer weather.
2. Check the Tires
After carrying your vehicle over rough winter roads, your tires need some tender loving care. Check the tread and make sure it’s sufficient to handle the wet roads you’ll encounter this spring. Then inflate the tires to the proper pressure as recommended for your specific vehicle. Consider a wheel alignment, too, as you ensure your tires are ready to work hard all season.
3. Replace the Wiper Blades
The wiper blades work extra hard all winter as they remove ice and snow from your windshield. Protect your view and safety when you replace the wiper blades.
4. Wash the Exterior
Salt and grime build up on your vehicle’s exterior and can cause corrosion, rust and damage. Wash off winter dirt with a high-powered hose at home or at the car wash. Reach the under-body, lower doors, roof and all exterior surfaces.
5. Clean Out the Interior
Food wrappers, mud and a dirty windshield create an untidy interior. Plus, salt residue can destroy the fabric on your vehicle’s floors and seats. Grab a trash can, steam cleaner and wash cloth as you clean out the inside of your vehicle this season.
6. Update Your Auto Insurance
Insurance requirements don’t change with the seasons, but double check your coverage as part of your prep for spring break travel. Make sure your coverage meets your needs and renew your policy if necessary. With the right insurance coverage, you have peace of mind wherever the road takes you.
Where are you traveling this spring? Make sure your vehicle is ready when you follow these six tips.