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Too busy during Coastal running this bloody website. :D

Apart from a test sail we will be lucky to get up there once more before Xmas (the house selling is very busy), but I'm hugely focussed on the Xmas cruise. As the girls get older (Nancy now fully employed and living in the city, Ana starts at Uni of Ak next year) it becomes rarer for us all to get together at the same time for more than a short period so I do want to make the most of this one. Their main concern is where will we be for New Years and will there be fireworks.

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Smoke house bay is good for new years. BYO fireworks :thumbup:

 

But the best new years I have had is at the mercs party :D

 

If you can fit your superyacht in the bay it is defiantly worth a look.

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I guess he thought he was doing a better deal for his client, and I know my deal is pretty scruffy, but I tried to explain that the boat market is a bit slow and it could be a long wait for the next buyer.

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Tell me more about the Mercs party??

 

 

All jokes to the joke thread (this one is all mine :lol: ), but feel free to crucify lawyers.

 

Michael Fay usually throws a big party in his barn. If you are anchored in the cove on new years eve a jet ski comes around to all the boats inviting them to the party

 

It's epic :thumbup:

 

Can't wait to get back there

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I'd stil want something in writing if I were either side of this deal. Mainly because it's a long-term arrangement and people have a habit of changing their minds or changing their circumstances. What if something happened to the vendor halfway through the deal and someone else (family, solicitor) stepped in and decided to change things. With nothing except a verbal agreement in place, you could be vulnerable.

 

So painful though it might be at the beginning, getting something in writing would give more protection and peace of mind longer-term.

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Make sure you read all the fine print Squid. I took Income protection many years back and then found out that I could not claim anything till AFTER I got back into employment and then it was only covering 3 or 4 mths at a time. For what I was putting into it, I figured it not worth it. That was many yrs ago now and policies may have changed for the better now perhaps. But still check it carefully.

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Interesting. I have never bothered with it before and all I want is to have his debt cleared if I have to stop work fo rany reason in the next say 3 years. I'll have to start shopping.

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It's true, a lot of IP/sickness policies require you to practically be a vegetable before nthey pay out.

 

Also confirm whether they pay a trickle (% of your average monthly income) or a lump sum. And remember if you are heavily commission-based check how they calculate your average income as this can be volatile. For example, if it's based on your last 3 months earnings before becoming ill/injured, if you've had a bad 3 months that might be a low payout. :shock: Also check what form the payout takes. If you are temporarily ill, it usuallys pay a trickle, if you're terminal they usually pay a lump sum.

 

So lots of Qs for you to ask Ogre. I'll got some spare time so will give you hand if you want - if you reply to my PM a coupe of days ago! :D

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With all insurance go into it working on the theory they don't want to pay out so look at all the stuff that says 'we don't have to pay when....'. I specifically always get all exclusions in writing and specifically ask 'Are there any more?' and get that reply in writing. Then tear the exclusions apart as most are only there as a cop out rather than based on a real solid reason i.e. no flying in light aircraft is a common one yet the industries own statics show you are 10 times more likely to be killed or hurt driving to the airfield than flying in the aircraft. 99% of the time they will fold on the exclusions should one be a concern for your situation, get it in writing.

 

My Income protection shite is on a set agreed amount a month, and I mean 'agreed' in real people speak not insurance speak as that does have a different meaning that is nothing like the normal definition. It also has a specific list of when it will kick in under what circumstances and for how long. We did some fiddling with it to allow for the fact my income won't stop dead, watch for that as many say no payee outtee if you are still getting any incomeee, or they play the 'offset' game. I pay premiums accordingly. It's all in writing and in plain english, there is zero reason an insurance company has to write in the dribble they often do.

 

It's pretty cheap to have all the main nasties covered for a reasonable sum. But watch the exclusions and fine print, it does seem to be an insurance with lots of hidden or just knot that well spelt out fine print.

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I was thinking along the lines of "If I can't work during the next three years you will give me $200k".

 

Interesting about the "other income " thing as my long term goal has always been an independant income so I can go sailing.

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CO, I suggest as a starting point talk to Neil Bailey. Although he is general insurance focused he might be able to help you or at least refer you to another trusted advisor for some IP insurance. And then decide if you think it's worth the risk or not from there. In your position I think it's 50:50 but let's catch up on Fri for a coffee/beer and talk thru where you've got to with your enquiries, if you can make it.

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