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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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Sounding like the P.Scow will be up at the Bay this xmas with the intent of racing in the tall ships race. Not sure on tall ships race date yet. Anyone know?? Its generally first weekend of Jan?

 

 

 

5th January, Rigger is mine if he can get up there for it.

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Angela mentioned the IP to the bank manager (they all sell this stuff now) , so we went to see him.

First question - what cover do you have now?

answer - none.

Then he went ballistic, told me that i needed about 400 policies and another 300 for Angela.

My eyes glazed over and I said I had a very important appointment and went and had lunch with AC.

Guess I'll have another look at it next week.

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Sounding like the P.Scow will be up at the Bay this xmas with the intent of racing in the tall ships race. Not sure on tall ships race date yet. Anyone know?? Its generally first weekend of Jan?

 

 

 

5th January, Rigger is mine if he can get up there for it.

 

I see one website with the wrong date (7th Jan) another saying the 5th and a comment it is on the second saturday of Jan (which in 2013 is the 12th).

So when exactly is it?

I am off work from the 5th for a week :)

 

http://www.boiyachtclub.co.nz/BOIYC%20S ... 3%20v8.pdf

has the 6th Jan (page 4)

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