How to Prep Your Boat for Summer

Yay! Summer is just around the corner. Well… if it ever decides to stop raining that is. Here on the WestCoast, we have lots of boating options available to us, some of them year-round. For most people though, their pleasure crafts have been winterized and stored safely out of the rain since last year. Spring is the time when us hopeful WestCoasters see a glimpse of sunshine and jump on outdoor activities. So what can you do to de-winterize (springerize?) your boat? Well before you go delivering your beautiful vessel into the water you’ll want to follow at least these few steps to ensure the safety of you and your fellow boaters:

  1. Check the Engine. If you didn’t change the oil and oil filter at the end of last season, now is the time to do it. Changing the oil will help prevent corrosion and excessive wear which can lead to loss of power, poor fuel economy, or even engine failure. You’ll also want to flush the cooling system and replace the antifreeze. Also, check the battery and see if it needs replacing.
  2. Inspect the Exterior. Check over the entire hull and look for any scrapes or cracks that might need to be fixed before hitting the water. If the boat’s exterior appears chalky it could mean oxidation has occurred and you may need to refinish the gel coat. While you’re inspecting you can polish the hull with a marine safe cleaning solution.
  3. Check over the Vinyl and/or Canvas. Inspect your seats, covers, etc for tears or rips and have them repaired. While you’re at it, you should give the interior of your boat a good clean.
  4. Test Electronics. Make sure you test all of your electronics and check that they are in working order. Replace or repair when needed.
  5. Check your Safety Equipment. Make sure all of your safety equipment is available and that nothing has broken or expired. Review this guideline from discoverboating.ca:

    Required and Recommended Equipment

    • Sound signaling device
    • Check distress signals and expiration date
    • Check PFDs
    • Inspect life rings
    • Check fire extinguishers and recharge if necessary
    • Check and adjust compass
    • Check navigation lights
    • Check charts and replace as necessary
    • Check radar reflector
    • Check and replace first aid supplies
    • Check bailer and hand pump
  6. Get Insured! Call the experts at Maxxam for all of your marine insurance needs!

3 Things You Should Know About Choosing Life Insurance in Canada

 

Do I need life insurance?

Purchasing life insurance can be overwhelming, but it is an important aspect of your long-term financial planning. Not everyone needs life insurance, but speaking with an advisor is your best option for making that decision. If you don’t have any debt or dependents, for example, you may not need insurance. However, if you are the main income earner in your household with a mortgage and several dependents, then you will definitely want to consider choosing a plan that will cover your payments.

How to do I decide how much coverage I need? 

We are often asked how much life insurance to purchase, but the answer isn’t that simple because it is different for each individual. Most Canadians purchase under $500,000 of life insurance. When deciding on your coverage you will need to look at your current monthly expenses like mortgage/rent, utilities, debt repayment, etc. You will also have to consider any future costs your family will incur, such as post-secondary education for children, replacement of vehicles and/or home, etc. If you and your spouse pass away at the same time, you will need to consider the cost of living for your children as well. You should also consider funeral costs and if your dependent(s) will extra compensation for extended time off of work.

How do I choose a plan?

There are a few options for choosing a life insurance policy including whole life, term life, variable life and universal life. The cost will depend on the plan you choose, as well as your age and current lifestyle. Your insurance advisor can help you choose a plan that will be the most beneficial for you in the long-run. Term plans are generally less expensive but expire after a set period of time. Whereas whole life plans will be more expensive but once the premium runs out, you will still have the coverage.

The Jist.

Make sure you educate yourself when choosing a life insurance plan. Do your homework before you meet with your advisor and make sure you ask about all of the fees associated with setting up your plan. Life insurance policies can be used as a financial investment, but again, that will depend on your situation. One of our experienced agents will be happy to assist you in choosing the plan that is best for you and your family.

The Benefits of Benefits

Benefits Newsletter

Prescription drug benefits are the most used employee benefits in the country. This is mostly because the reimbursement is easier than other benefits, and of course drug costs can often be high. Having an employee benefit program in place can entice qualified job seekers to apply to your company over one of your competitors. Maxxam Insurance offers several employee benefit packages that will work with your budget. People routinely overlook the health benefits that are available to them; as a part of the set-up process, our experts will meet with your staff to make sure they understand their compensation.

There are several benefits to providing your employees with a comprehensive benefit plan. The biggest advantage to offering a benefit package is that you have a better chance of getting highly qualified applicants. The work force is highly competitive right now, meaning employers are having to be more creative with the design and generosity of the benefits they offer. Employers who continue to provide limited programs may find it more difficult to find and keep different generations of employees.

Below you will find some examples why benefits are beneficial!

For employers:

  • Recruit highly qualified individuals
  • More effective employees who feel valued through their compensation
  • Premiums are tax deductible, which means savings in your pocket!