luxurious yacht motorboat in the sea, luxury private boat cruiseMany people consider chartering a yacht one of the most luxurious ways to go on a vacation, or see different parts of the world. Sailing the open seas while having a crew cater to your needs can be the ultimate way to relax.  But what if something comes up and you can no longer go on the vacation of a lifetime? Or you need to reschedule? Things come up all the time, and there is no better way to protect yourself from the unexpected than getting the proper insurance coverage. Who wants to pay all that money for a trip that they can't even go on?

Things Go Wrong

Based on life experiences, it is safe to say that at some point in life things won’t always go as planned. Life is unpredictable and plans often change. One of the basic issues that insurance protects us against is the fact that life is unpredictable. So while you may not be able to prevent a situation from happening, you can prevent an issue from becoming a worst case scenario. There is no need for something to go wrong and ruin your plans. Vacations are about having fun and creating memories, not headaches that could have been avoided if you had trip cancellation insurance!

Protect Your Investment

Success isn’t reached without a proper management of risk, so don't let your investment go unprotected! Many of your assets such as your business, home, cars, and other items have the protection they need in case of an unexpected issue. There is no reason that your vacation shouldn’t have similar protection as well.

Can No Longer Go on the Trip

For some, going on an extravagant trip like chartering a yacht can be a large expense. There are many different obstacles that can arise that may keep you from being able to go on your trip. Here is just one example.

You have decided to charter a yacht for you and your family to visit a few islands in the Caribbean. The total cost of your trip let’s say is $50,000. The day before you leave for the trip, you become ill and need to go to the hospital. You have a bad case of the flu and need to stay in bed for a few days, just in time for your vacation. Clearly, not a good time to be on vacation, so there goes $50,000 down the drain. Unless you have the proper trip cancellation insurance!

What Will Be Covered?

Typically, a good trip cancellation insurance plan should protect you from many issues that may come up causing you to cancel your plans. Some of the items covered are usually injury or illness, natural disasters, property damage, traffic accidents, schedule conflicts, theft, etc. For more information on the different types of coverage that trip cancellation insurance offers, contact us at +1 954 828 1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com.

Liability is often unavoidable in life, which is why you need to have protection in all stages of life. Read our previous blog, “Planning to Charter a Yacht? Why You Need Yacht Charterers Liability Insurance.” Our ‘concierge service’ can assist you in finding the proper coverage for all aspects of your life. Our insurance specialists have the experience and knowledge to get you the best life insurance, health insurance, marine crew insurance,marine general liability insurance, business insurance, expatriate insurance, or travel insurance for your budget. For more information on marine general liability, read our previous blog, “Marine General Liability vs. General Liability”.

Things come up all the time, and there is no better way to protect yourself from the unexpected than getting the proper insurance coverage. Read more!

flightThe “fasten your seatbelt” light has just lit up! You are now on your way to your destination. Isn’t it exciting traveling to different places? I’m sure it would be even more exciting if long flights didn’t take such a toll on you, mentally and physically. Long international flights can almost make it hard to enjoy your trip, with all the time being seated, and the long customs lines you must go through.

With all the things everyone dreads about international flights, it is all worth it when you get to experience new cultures and traditions, see sights you could never imagine, or relax on a beach for your vacation. Since long flights get a bad rep, use these 5 tips to help survive your next flight, and get you to your enjoyment with more peace of mind!

Request a Special Meal

It used to be customary for you to receive a free meal on all flights, domestic and international. Now you are lucky if you get a bag of peanuts. However, there are still many foreign airlines that may serve you a meal during an international flight. Look up airlines that still have this feature, or try requesting a special meal when you are booking. Having a substantial meal instead of snacking can give you energy and keep you from feeling drained.

Set Your Time

One of the harder things to get accustomed to when traveling internationally is the local time. Your body typically runs on its own clock. So if you are traveling somewhere that is 5 hours ahead, you could be in for a rough transition. Set the time of your destination when boarding the flight. This will give you better judgement of how much time you will have left in the day upon arrival, and also allow you to use the flight to adjust if needed.

Bring a Survival Kit

Don’t you hate sitting next to a screaming baby for 20 hours? One way to help prepare is by bringing a survival kit to help you get the rest you need, and keep you in the best mood possible. Pack ear plugs, an eye mask, snacks, toiletries, etc. It is also a good idea to freshen up halfway through the flight to give you your second wind. This will also give you an excuse to get up and move around.

Don’t Forget the Entertainment

A long international flight can sometimes feel like a lifetime, and if you don’t have things to keep you busy, it will feel like an eternity. Pack an iPod, iPad, tablet, laptop, etc. to keep your mind busy. You can also bring a book(s), word puzzles, Sudoku, and other items as well.

Take Care of Your Body

Did you know that flying can dehydrate you? Stay hydrated, and bring water to drink regularly throughout the flight. Also, try to get up and stretch regularly to keep your blood flowing and keep from getting stiff.

For more help when traveling overseas, read our previous blog, “Tips for Traveling Abroad.” We wish you safe travels along your journey. If you are interested in purchasing travel insurance, or have any questions or concerns, please contact us at +1 954 828 1819 or +44 (0)1624 678668 or visit us at mhginsurance.com. Our insurance brokers have the experience to assist you in selecting the right plan for you, with the best value.

Since long flights get a bad rep, use these 5 tips to help survive your next flight, and get you to your enjoyment with more peace of mind!

492989930Monaco is a sovereign city-state located on the French Riviera in  Western Europe. It is the second smallest and the most densely populated country in the world! It is also considered to be a very luxurious destination, fit for celebrities and royalty. Which makes it a perfect location for a yacht show!

The Monaco Yacht Show is almost here, just a few weeks away. Will you be going to this year’s show? Whether you are flying in for the show, or you are already there preparing your vessel and have some time to kill over the coming weeks, Monaco is a place most people only dream about visiting, so why not make the most of your trip! Here are some things that you must see/do while you are in Monaco.

1. Larvotto Beach

beachLarvotto Beach is a public beach located near Monte Carlo. Like many other beaches along the French Riviera, Larvotto Beach has pebbles rather than sand, so be sure to wear sturdy shoes or sandals. The water is clear and clam, the beach is clean and well kept, and the hotels and mountains along the shoreline will make you feel like you are in paradise, just be sure to arrive early as spaces are sure to fill up. While this beach is great for visitors of all ages, it should be mentioned that some beachgoers lay out topless.

2. Princess Grace Rose Garden
This Rose Garden was created in 1984 as a memorial to Grace Kelly, who was the wife of Prince Rainier III. The garden includes a statue of Princess Grace and features 4,000 roses. There are also palm trees, olive trees, and other plants. Visitors say the park is a great place to walk and enjoy a peaceful oasis. While at the gardens, you should also tale the time to explore Fontveille Park.

3. Thermes Marins Monte Carlo
Thermes Marins Monte Carlo translates to “The Sea Baths of Monte Carlo”, and is one of Monaco’s most beloved spas. The spa includes gyms, salons, treatment rooms, and restaurants. Treatments that are offered include underwater massages, seaweed body wraps, and anti-aging sessions. Take a dip in the indoor heated pool, or in the Jacuzzi that overlooks the harbor.

4. Palais du Prince
prince palaceThe Palais du Prince (or Prince’s Palace) is home to, well you guessed it, the prince! This lavish royal residence has been home to many royal families over the years such as Prince Rainier III and his wife, Princess Grace. Today, it is the home of Rainier’s son, Prince Albert II. Visitors have said that the palace offers incredible views, and recommend a tour of the state rooms to see what royal living is really like!

5. Museums
476168634There are two museums to visit while you are in Monaco. The first is the Oceanographic Museum of Monaco. This museum and aquarium was founded by Prince Albert I, who was a sea captain, in 1910. The museum includes many of the findings from his explorations. While the aquarium is often considered one of the best in all of Europe with more than 90 tanks. The second museum you should visit is the Museum of Antique Automobiles. This museum was gifted by Prince Rainier III with his personal collection of cars. There are about 100 vehicles including racing cars, carriages, even the Rolls Royce that Grace Kelly rode in on her wedding!

Bonus: Monte Carlo Casino
511850234A visit to Monaco really isn’t complete without a trip to its capital city’s casino, Monte Carlo Casino. This casino was the inspiration for the casino in Ian Fleming’s first James Bond book, “Casino Royale”. It was also in the Bond films, “Never Say Never Again” and “Goldeneye”. Many consider it a must visit because of its grand décor and tons of different gaming options. The Casino officially opens for gaming at 2 p.m. and you must be 18 or older to enter with proper attire.

Our Insurance Specialists have the knowledge and experience to offer advice or help select the best insurance plan for your needs. Whether you are in need of travel insurance, yacht crew insurance, or life insurance, visit mhginsurance.com or call +1 954 828 1819 or +44 (0) 1624 678668 for help in selecting the plan that fits you best. Safe travels!

Monaco is a place most people only dream about visiting, so make the most of it while you are there for the show!

bankruptcyIt’s no secret that the United States is home to one of the most expensive healthcare systems in the world, and with these costs come some consequences. Hearing about someone having to file for bankruptcy can bring some assumptions that they mismanaged their finances, lived beyond their means, or made some bad decisions regarding investments. While all of those theories are possible, chances are the person had some unexpected medical bills that they could not afford to pay. So hear in lies the question, “Do I receive medical attention and risk my entire savings account, or do I make a financial decision that is less risky?”

For Example…

Here in the U.S. a visit to the Emergency Room can cost thousands of dollars, there is even a story that has been circulating of a mother who accidentally cut her one-year-old daughter’s finger while clipping her nails. Since her daughter was so young, they decided to be extra careful and took her to the ER in case she needed stiches or any other special treatment. Turns out she only needed a band aid, however the trip to the ER totaled almost $700! While medical bills may be the leading cause of bankruptcies in the U.S., many of those that file for bankruptcy actually could have avoided doing so had they taken the proper steps and precautions. Education is key to knowing what financial impact you may face before seeking medical treatment.

I’m sure we all know someone who has had to battle health issues and conditions, however there’s a good chance we don’t get to see the struggle that person has to deal with financially, only the struggle of them fighting to get better.

Use a Broker

Using an insurance broker may give you an advantage because brokers work for you, not the insurance company. Many times they will assist you in filing claims and dealing with paperwork that you aren’t familiar with and they can often guide you toward minimizing your out of pocket costs.

Find Someone You Can Trust

While using a broker can help you in finding the best insurance coverage for your budget, it also helps to find someone you can trust. You are relying on this person or company to fully protect you, so trust is important.

Change Your Mindset

Nowadays many people tend to think of health insurance as something that the government is forcing you to purchase, however you should try to think of it as an investment into your health. The cornerstone of insurance is to protect you financially; wouldn’t you rather pay a monthly premium than having to clear out your savings account if you get sick? Instead of thinking of insurance as buyer beware. Think of medical expenses as buyer beware.

MHG is here to help and provide assistance with all of your insurance needs. Whether you are looking for marine crew insurance, health insurance, life insurance, travel insurance, expatriate insurance or insurance for your business, we have the experience and knowledge to help you find the right policy. To hear some insurance advice from some of our employees, read our previous blog, “If You Could Give One Piece of Advice to Your Clients, What Would it be?” Please contact us at +1 954-828-1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com. Let our insurance specialists find you, your family, or group, the best insurance available for your budget.

Medical bills are one of the leading causes of bankruptcies in the United States. Read more.

Getting ready to do my workoutSummer is upon us! Which means a couple things; people are ready to show off their summer body and will look to maintain their figure, and people will be taking summer vacations and traveling abroad over the next few months. Being healthy and traveling are two important aspects of life, however for some reason the two aren’t always synonymous. While traveling, many people may want to relax and kick their feet up, or eat delicious foods that may not be deemed “healthy”. Of course you could always go for a run or walk around the hotel grounds or the surrounding areas, or you could go for a swim in the hotel pool as swimming is one of the best exercises anyone can do. You could even do yoga to exercise the mind, body, and soul. But if you aren’t feeling any of those options, and there isn’t a gym in the hotel to work out in, try doing some non-weight exercises, or calisthenics, in your hotel room!

Calisthenics are a great way to get into or stay in shape. In fact, many people use calisthenics as their normal exercise routine and not just when in a hotel room. By using different exercises to target each muscle group, you can have a full body workout without leaving your hotel room in a short amount of time.

1. Upward and Downward Facing Dog- This is a common yoga exercise and is a great way to get your body warmed up before a work out or cooled down following one. Lay flat on the ground face down. Take a deep breath, push your hands against the ground to push your chest up while keeping your legs flat on the ground. Hold the pose for several breathes. On the last exhale, lift your bottom up to form a 90-degree angle with your body while keeping your feet and hands flat on the ground and your head between your arms. Stay in that pose for several breathes. On the last exhale, bend your knees to the floor so that your knees are under your hips and your hands are under your shoulders.

2. Planks- Planks are one of the best exercises you can do to work out your core. Lay face down on the floor. Prop yourself up with your forearms and keep your elbows directly below your shoulder. Remember to keep your body straight. For beginners, try using a straight arm with your hands directly underneath your shoulders.

3. Wall Sits- This is a great way to focus on your lower body as well as your core. Find a wall, then squat down into a sitting position with your back against the wall and your legs in 90 degree angles.

4. Mountain Climbers- Ready to get your heart rate pumping? Mountain climbers are a unique exercise that can get your heart rate up and work out your entire body without needing machinery or a large space to move around. Start in a push-up position and alternate bringing your knees to your chest.

5. Push-ups- This classic exercise focuses on your upper body strength and your core. To work out different muscles doing this exercise, try doing them on an incline and decline as well.

6. Sit-ups/ Crunches- This is another classic exercise that targets your abdominals. To increase difficulty try doing them with your legs up at a 90-degree angle. Or you could try air bike crunches where you alternate touching opposite elbows to knees.

7. Squats- This exercise really targets your thighs and your gluteal muscles. Remember to keep your feet shoulder width apart, and keep your heels flat on the ground when squatting.

8. Leg Lifts- As you may have already noticed, many of these workouts focus on your core, and leg lifts are one of the best ones you can do. Lay flat on your back and lift your feet 6 inches off the ground. For a change you could also try switching your feet from opened to closed every 10 seconds.

9. Lunges- Step forward with one leg lowering your hips until both legs are bend at 90 degree angles. Make sure your front knee is directly above your ankle and your back knee doesn’t touch the floor. Rotate legs.

10. Tables- Sit down with your hands and feet on the floor. With your arms behind you, prop yourself up by lifting your hips as high as you can, and squeezing your glutes and shoulder blades as hard as you can.

There are several different ways to approach these exercises, you could try doing each one until exhaustion, breaking them up into different repetitions and sets, or a mixture of both. There are a ton of other non-weight exercises you can do, however everyone is different and some may find other exercises more successful than others. Try looking up other exercises and make a work out guide that fits you and your needs best.

For more help when traveling overseas, read our previous blog, “Tips for Traveling Abroad.” We wish you safe travels along your journey. If you are interested in purchasing travel insurance, or have any questions or concerns, please contact us at +1 954 828 1819 or +44 (0)1624 678668 or visit us at mhginsurance.com. It is important to have proper travel insurance coverage in case of an unexpected emergency while traveling abroad. Our insurance brokers have the experience to assist you in selecting the right plan for you, with the best value.

Being healthy and traveling are two important aspects of life, however for some reason the two aren’t always synonymous.

The 5 Best Places for Skiing

skiThe temperatures are dropping, and the snow is beginning to fall. It’s that time of year to dust off your skis and snow boards and start looking into what place you will be going for a ski trip. Aside from the holidays, ski trips are something that comes with this time of year that people really look forward to. Whether it’s getting to see some of the most breathtaking sites Mother Nature has to offer, being able to get an adrenaline rush, or cuddling in front of a fireplace in a cabin in the mountains, here are 5 of the best places to plan your next ski trip.


Whistler, Canada 

Whistler, Canada is one of the most popular destinations around the world when it comes to going on a ski trip. Located in the Coast Mountains just outside of Vancouver, Whistler has plenty to offer those who are ready to get on the slopes, and do some sightseeing. Stay at Whistler Blackcomb which is rated the number one ski resort for 2016 by Ski Magazine.

There are also some things to do in Whistler if you would like to take a break from the slopes. Visit the Olympic Park which was home to the 2012 Winter Olympics in Vancouver. You can also take nature and wildlife tours to see some animals you can only see in this area, and sights that are unmatched anywhere else in the world. Or if you are looking to get an adrenaline rush in a different way, there are a plethora of mountain biking paths.

Aspen, Colorado

Located in the heart of Colorado and the Rocky Mountains, Aspen should be on every skier’s destination bucket list. Being able to get into touch with nature, having the beautiful Rocky Mountains as a back drop, it’s no wonder Aspen boasts one of the more expensive real estate values in the U.S. Not to mention, you can ski on the same snow as some of the world’s most famous athletes like Sean White, who compete here every year at the X Games. Take a short trip to see Maroon Bells, which are two peaks in the Elk Mountains both measuring higher than 14,000 feet!

Zermatt, Switzerland 

Zermatt is known around the world for its skiing, and is surrounded by the mountains of the Pennine Alps. There are four areas for skiing, Sunnegga, Gornergrat, Klein Matterhorn, and Schwarzsee.  You will also have a one of a kind, crystal clear view of the Matterhorn, which stand 14,692 feet high, making it one of the tallest peaks of the Alps, and of Europe. One reason the view remains crystal clear is because Zermatt only allows electric vehicles to help smog from building up. 

There is also Matterhorn Glacier Paradise, where you can go to the highest cable car station in Europe. This will also offer you the opportunity to see Matterhorn from a different side, and offer views that seem to be never-ending.

Les Trois Vallées, France 

Les Trois Vallées (The Three Valleys) is a region located in Savoie, France and consists of three valleys: Saint-Bon, Allues, and Belleville, and has been extended into a fourth valley called Maurienne. The three valleys are connected by ski lifts and slopes and creates one of the largest ski areas in the world! This area is also famous for being home to a plethora of world class ski resorts such as Courchevel, Méribel, and Val Thorens (the highest ski resort in Europe). 

Portillo, Chile

Chile is one of the few countries in the world that can offer mountains and amazing skiing, and have a beautiful beach just a few hours away. Portillo, Chile is a ski resort in the Andes Mountains just a few hours from Santiago. Many Olympic ski teams are known to practice and train on these slopes, making it some of the best skiing in the world. Portillo was designed around the Lake of the Incas, which is a lake in the middle of the mountains that offers great photo opportunities year round.

Read our previous blog, “Most Common Travel Insurance Claims,” to help prepare you even more for the claims process. Planning a fabulous summer holiday? Read our previous blog, “Tips Everyone Should Follow When Traveling Abroad,” and don’t forget to pack your travel insurance! Not sure which plan is right for you? Speak with the insurance specialists at +1 954 828 1819 or +44 (0)1624 678668 or visit us at mhginsurance.com to help identify the right travel insurance plan for your particular situation. Have a wonderful vacation!

It’s that time of year to dust off your skis and snow boards and start looking into what place you will be going for a ski trip.

attendees

The Fort Lauderdale International Boat Show is here! Are you planning on attending this spectacular event? If so, there are things you need to prepare for and begin to consider in order to get the most out of the show; from dealing with crowds, to being comfortable, follow some of these tips that will help you have a great time!

Tickets


Tickets to the Fort Lauderdale International Boat Show can be a little pricey, price at the gate will be $27 for the day or $43 for the entire show (Friday-Monday). It should be noted that children 5 and under will get in free with a paid adult, and children who are 6-15 years old will be $12.

Plan Ahead

It’s common for people to get lost, and not know where places are located within the show. Do some research and think about any events you would like to attend, or things you would like to see. It may also be a good idea to create a budget for things you may want to buy, or event tickets you are looking to purchase.

Transportation

Since this is such a large event, attended by thousands of people, parking always seems to be a nightmare. Having to park in one location, then walk to another only to board a shuttle which will then take you to the show, doesn’t seem like an appealing process. And that is only if you are lucky enough to find a space! Also, if you decide to purchase a valet ticket, the price is $60. Consider other transportation options that will save you money, time, and most importantly a major headache. Now that Uber is back in Broward County, see what the going rate is to get you to the show, or you can try the Water Taxi.

Wardrobe

This show is HUGE! It will require a lot of walking, so proper footwear is crucial if you plan on staying all day. If you are planning on wearing high heels, you may want to reconsider. Also, a large portion of the show is outdoors, so you may want to pack some sun screen, a hat, and sun glasses.

Make Reservations

There are a people from all over the world in town for this weekend. Expect delays, traffic, and long wait times at local restaurants. It may be a good idea to call ahead and make reservations at any restaurants you are considering going to. Also, try calling ahead if you plan on going to any after parties in the area and see if reservations are required.

Don’t forget, the Fort Lauderdale International Boat Show starts today, November 5th and ends November 9th! For more information on what’s what to be aware of when at a boat show, read our previous blog, “5 Things to Be Aware of When at a Boat Show”. If you are interested in purchasing Yacht Crew Insurance, or would just like to talk to us for more information or advice, please contact us at +1 954 828 1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com. MHG has the Insurance Specialists to get you, your family, or group, the best coverage for your budget.

The Fort Lauderdale International Boat Show is here! Are you planning on attending this spectacular event?

fort lauderdaleThe Fort Lauderdale International Boat Show is just a few weeks away, which means yachts and crew are beginning to arrive and set up for the show. There is a good chance that yacht crew may have some down time leading up to the show that should be spent exploring and discovering this beautiful area. Fort Lauderdale is the yacht capital of the world, however, this city and the surrounding areas have so much more to offer outside the yachting industry that you should be taking advantage of. 

 

Fishing

South Florida has some of the best fishing in the world. With plenty of different options from lakes, to the everglades, to deep sea, there is a setting for whatever kind of fishing you are in the mood for. 

Everglades

The unique natural habitat called the Everglades is a short drive from Fort Lauderdale. Since the Everglades can’t be found in any other part of the world, a trip to South Florida is not complete without an airboat ride through the “Sea of Grass”. There are endless opportunities for camping and seeing animals that you won’t see anywhere else in the world. 

Native American Reservations 

The Native Americans are a large part of the history of the United States, and in South Florida, there are 2 large Native American presences. The Seminole and Miccosukee tribes have reservations in the area that offer plenty of things to do. Watch alligator wrestling, learn about the culture, or you could even visit the Seminole Hard Hotel and Casino in Hollywood. 

Beaches 

South Florida is home to some of the most famous beaches in the world. South Beach, Ft. Lauderdale Beach, etc. are just a few of the places you can spend a day, or two, or three, relaxing and sticking your toes in the sand. There are bars, restaurants, and shops everywhere, it’s no wonder South Florida is such a popular tourist destination. 

Sawgrass Mills 

One of the largest shopping malls in the country, Sawgrass Mills is a must if you plan on doing any shopping while you’re town. With over 300 stores, you will have no problem finding something that you wouldn’t be able to find back home.

Downtown 

Downtown Fort Lauderdale is a very popular area, with tons of great spots to enjoy an afternoon, or a night on the town. Riverwalk, also known as the Fort Lauderdale Riverfront, consists of Las Olas Boulevard and Himmarshee Street. This area is home to some of the best bars and restaurants that Fort Lauderdale has to offer. 

Museums 

Fort Lauderdale is home to a few unique museums such as the Museum of Discovery and Science, Museum of Art Fort Lauderdale, and International Swimming Hall of Fame. The Museum of Discovery and Science is full of interactive exhibits and is also home to an IMAX theater that has a screen that is 5 stories tall! 

Broward Center for Performing Arts 

The Broward Center for Performing Arts is among the top 10 most visited theaters in the world, with over 700 performances every year. This beautiful theater sits on the New River and hosts world famous Broadway Plays, concerts, lectures, and plenty of other events. 

Historic Houses 

Fort Lauderdale is a very historic area, and has few historic houses that are definitely worth a visit. Learn the history of the Stranahan’s when visiting the Stranahan House which was built in 1901. Or visit the Bonnet House and walk through the beautiful grounds and gardens.

Jungle Queen 

The world famous Jungle Queen Riverboat has been in operation since 1935. Take a cruise along Fort Lauderdale’s New River and see some breathtaking sites. Witness what it is like to live like the rich and famous as you pass through “Millionaire’s Row” and other areas with charming waterfront mansions.

Yacht shows can offer a time for crew members to jump ship. Make sure that you maintain proper coverage through the process. Read our previous blog, “Yacht Crew Insurance Options While You are Between Jobs”, for guidance on what options may be best for you. MHG is your specialized broker when it comes to crew insurance. Our insurance specialists have the knowledge and experience to find the policy that works best for you. If you are interested in purchasing or have any questions about yacht crew insurance or travel insurance, or would like some advice, please contact us at +1 954 828 1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com. Don’t forget, the Fort Lauderdale International Boat Show is almost here, see you there!

10 Things to do in Fort Lauderdale While in Town for FLIBS

yacht chartererMany people consider chartering a yacht one of the most luxurious ways to go on a vacation, or see different parts of the world. Sailing the open seas while having a crew cater to your needs can be the ultimate way to relax. Until disaster strikes! Accidents can happen anywhere, and that is one reason why we purchase insurance. Who wants to be liable for a yacht that they don’t even own?


You Are Not Covered! 

Some may assume that they have all the protection they need from the owner’s insurance policy; however that is not the case. That insurance policy only covers the owner, and in some ways the crew working onboard. Under a standard AYCA or MYCA yacht charter, the yacht charterer is not covered under the owner’s insurance policy, and therefore cannot benefit from the owner’s insurance. Meaning you must get your own coverage! 

No Protection from Third Parties

It’s no secret that yacht charterers tend to be people of a certain status who have a large portfolio of personal and/or business assets, which means that third parties know they have deep pockets. Since the charterer is not protected against third parties, they are unable to stop the owner’s insurers from exercising their right of recourse.  Also, many decide to charter the yacht personally rather than through a limited company, which makes them even more of a target for third parties and insurance companies to collect reimbursements for any claims made.

You Are Responsible for Your Guests

According to clause 27, the charterer is required to indemnify the owner of the vessel for any losses or claims he/she causes. Something you may not know is that the charterer also accepts responsibility for any injury, loss or damage to or caused by charter guests. 

Example 

You charter a yacht valued $10,000,000 and it sinks because of damages you or one of your guests caused. In a matter of moments you went from having the time of your life to possibly being on the hook for millions of dollars in damages to the vessel, and that doesn’t include any injuries crew members may have sustained when reacting in the emergency situation. Don’t regret not getting covered.

How Much Coverage Do I Need?

We recommend that as an absolute minimum, the charterer should buy a policy that includes third party liability and liability for damage to hull with a combined limit of at least twice the value of the yacht chartered or $20,000,000, whichever is higher. The cost of the insurance is usually no more than 2 or 3% of the cost of the charter. Considering the amount of protection and money that charter liability insurance can save you, the cost of the policy makes this a no brainer! 

Liability is often unavoidable in life, which is why you need to have protection in all stages of life. Our ‘concierge service’ can assist you in finding the proper coverage for all aspects of your life. Our insurance specialists have the experience and knowledge to get you the best life insurance, health insurance, marine crew insurance, marine general liability insurancebusiness insurance, expatriate insurance, or travel insurance for your budget. Contact us at +1 954 828 1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com. For more information on marine general liability, read our previous blog, “What is the Difference between General Liability and Marine General Liability?

Planning to Charter a Yacht? Why You Need Yacht Charterers Liability Insurance

benefitsWhen looking for a job, many people put just as much importance on the benefits the job offers as they do on salary. This is because sometimes those benefits help increase the amount of our salary we can take home, by saving money on health insurance or not having to purchase as much life insurance. People like to feel taken care of, and working at a company that offers great benefits can create a loyal workforce. However, there are still things people need to consider when it comes to their insurance benefits. 


Health Insurance

In most cases, if you could have a choice between individual health insurance and group health insurance, you should choose group health insurance. One reason is being part of a group plan offered through your employer may be less expensive for you than purchasing your own individual plan. That is because your employer is required contribute at least 50% towards your premium. Also, you should note that networks for group plans are much larger than networks for individual plans. One thing to be aware of when using a company sponsored health insurance plan is that you may lose insurance coverage if you lose your job. There are options that can allow you to keep your coverage, but it will be more expensive. For more read our blog, “Recently Laid Off: What are My Insurance Options?” Something else to be aware of is that your group plan may not be able to be customized to fit your needs. 

Life Insurance

There are some companies who will offer their employees life insurance coverage as a benefit. Typically the policy has a low face value. $10,000 and $15,000 are common. Some may think that they don’t need to purchase their own life insurance policy because it is offered through their work, however, you still should have your own policy for several different reasons. One reason is if you were to ever leave your current job, you would lose that life insurance policy. If you have people that depend on you, having your own life insurance could be just what your family needs. Even if you happen to stay at your job, the policy may be too low, and may not cover all of your needs and debts if something were to happen to you prematurely. For more information about different kinds of life insurance, read our blog, “What are My Life Insurance Options?” 

Disability Insurance

Disability insurance is a great way for your employer to give you and your family the coverage you need in the event you develop an illness or sustain and injury and are unable to work. It’s important to know whether your employer offers a short-term or long-term disability insurance plan. If your company offers short-term disability insurance, you may want to think about purchasing a long-term disability insurance plan in case you are unable to work for two or more years. If your company offers long-term disability insurance, you may want to think about purchasing a short-term disability insurance plan to give yourself coverage until the long term coverage kicks in. 

For more information about why it may make sense to have a disability insurance plan, read our previous blog, “What are the Benefits of Having a Disability Plan?” Our insurance specialists have the knowledge and experience to assist and guide you, your family, or group to the best coverage for your budget. If you are interested in purchasing a disability plan, health insurance, or life insurance, contact us at mhginsurance.com or call us at +1 954 828 1819.

What You Need to Know About Company Sponsored Insurance Benefits