MSN Money’s Liz Pulliam Weston has a great article about some of the things people mistakenly believe about their insurance, and how it can harm them in the long run. Click here to check it out.
What disasters can befall you or your company?
Life can throw you a curve ball sometimes. Murphy, as he is sometimes called, will try to make your life miserable. Don’t let him. Use protection against Murphy. Dave Ramsay likes to say that a solid emergency fund is insurance protection against Murphy, and I agree. Murphy and his disasters can come in many forms, whether it be natural, man made, spiritual, or financial.
Do you have a written disaster plan?
Does it have to be written?
I believe it has to be written, especially if you own a business. If you aren’t there to pick up the pieces, how can your employees if it is not written? Can you remember all of the neccessary steps in order to recover from a disaster as quickly and efficiently as possible if it has not been written down and carefully thought out? I feel that this is very important not only in your business but your family life as well.
Please take the time to think about all of the IF’s in life.
If, Then, What?
How would you respond?
If you need any assistance let me know and I may be able to help you.
See? There was another “IF,” they are everywhere. That word seems to lead toward thought and planning. A plan is like a roadmap helping you achieve your goals.
The sudden death of Michael Jackson might trigger one of the biggest event cancellation claims in the insurance industry’s history, as speculation about coverage for 50 sold-out performances scheduled by the “King of Pop” at London’s O2 Arena ran rampant last week.
Sometimes it might seem like there are so many things in your life that you need to insure – your home, your vehicles, your health, even your life itself. But I can promise you that insurance companies have covered some odd things.
A model’s face was insured in the event that she developed wrinkles. One concerned citizen took out a life insurance policy that would pay out in the event that he died by falling Sputnik. Movie studios got insurance on the legs of both Betty Grable and Fred Astaire. Michael Flatley of Lord of the Dance fame had coverage on his legs for an astounding $47 millon. A food critic insured his taste buds, since all that hot soup can cause some damage.
Something that may not immediately occur to you is insuring movie stars and athletes. During filming, a studio takes out insurance on its stars since their misdeeds could land them in jail and stop production entirely. Lindsey Lohan had some problems getting insured for her film Georgia Rule. When athletes with multi-million dollar contracts want to play for their national teams at, say, the Olympics, their country’s sports federations have to purchase coverage. Alexander Ovechekin, from Russia, has a 13-year, $124 million contract. The Washington Capitals weren’t about to let him on the ice for the Russian National Team for the World Championships without a policy in place.
So don’t worry if you’re a little overwhelmed by your insurance needs. Somebody can insure it, and we can help.