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ASZ International, Inc.

200 Summit Lake Drive
Suite 220
Valhalla, NY 10595

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How To Keep Kids Safe While Boating

Boating can be great fun for the whole family, but boat owners must know how to keep everyone safe while on the water. This includes any children that will be on your boat for any amount of time. At ASZ International Inc., serving Westchester, NY, and the surrounding areas, we are committed to helping you keep your boat and guests safe. Keep reading to learn more. 

Should Kids Come Boating?

There is no reason why children shouldn’t be able to enjoy time on your boat just like everyone else. However, when kids are on your boat, there are safety considerations you should keep in mind. Let’s look at a few safety precautions you should remember when kids visit your boat. 

Adult Child Ratios

As with most activities, keeping an excellent adult-to-child ratio on your boat is always a good idea. An adult-to-child ratio refers to the number of kids on the boat vs. the number of adults. You want to make sure that the adults are not too outnumbered. When this happens, it becomes more challenging to watch the children safely. If you feel uncomfortable with the number of children on the boat, recruit a few more adults to help keep everyone safe. 

Life Jackets for Everyone

This should be a non-negotiable rule for kids on your boat. Everyone gets a properly fitting life jacket. Ensure kids have one, even if you do not usually use life jackets. Even if this is an extra expense, it is worth it. 

If you want to learn more about boat safety or insurance, please get in touch with us at ASZ International Inc, serving Westchester, NY, and the surrounding areas. 

The Hardening of the Personal Insurance Market

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How the Economy Affects Insurance Rates

Rising costs are a concern for both insurance companies and consumers. Inflation, higher interest rates, increased costs, and weather and climate events all affect the cost of insurance coverage.

Here’s a look at some of the factors that may be influencing what you pay.

Auto

  1. Supply chain shortages have made it difficult to repair vehicles efficiently and at a low cost. (1)
  2. Nearly 80% of collision repair shops are scheduling appointments 2 weeks or more into the future. (2)
  3. Driven by rising prices, the amount insurers paid to cover claims increased by $30 billion in 2021. (3)

Costs have increased:

  • 19.5% for motor vehicle repairs (4)
  • 9.9% for motor vehicle parts and equipment (4)

Home

Prices for materials continue to rise:

  • 12.5% Floor coverings (4)
  • 18% Drywall (5)
  • 14.8% Concrete products (4)

There are more frequent and severe weather and climate events, including wildfires and hurricanes. (6) The annual cost of natural catastrophes around the world is estimated at $123 billion. (7) There has also been a surge in nonweather-related water damage, such as plumbing leaks.

Each year:

  • There’s approximately $8.24 billion in these types of property losses. (8)
  • 1 in 60 insured homes has a claim caused by water damage or freezing. (9)

As we all navigate a changing economy, there are plenty of ways to save. Talk with your agent today to review your products and discounts.

References

[1] “Repair Costs & Labor Issues Affecting Insurers in 2023,” agencyheight.com/car-repair-costs (Jan. 9, 2023).

[2] “Crash Course 2022 Mid-Year Update: Gearing Up for What’s Ahead,” cccis.com/news-and-insights/insights/crash-course-2022-mid-year-updategearing-up-for-whats-ahead/ (May 31, 2022).

[3] “Countering inflation: How US P&C insurers can build resilience,” mckinsey.com/industries/financial-services/our-insights/countering-inflation-how-us-pand-

c-insurers-can-build-resilience (Aug. 25, 2022).

[4] Bureau of Labor Statistics/Nationwide Economics (December 2022).

[5] “CoreLogic Quarterly Construction Insights Q4 2022,” corelogic.com/wp-content/uploads/sites/4/2022/12/QCI-Q4-22.pdf (accessed Jan. 26, 2023).

[6] “Global warming frequently asked questions,” climate.gov/news-features/understanding-climate/global-warming-frequently-asked-questions (Oct. 29, 2020).

[7] “Global Average Annual Insured Losses from Extreme Events in Excess of $120 Billion, New Report from Verisk Finds,” verisk.com/newsroom/globalaverage-annual-insured-losses-from-extreme-events-in-excess-of-$120-billion-new-report-finds/ (Sept. 28, 2022).

[8] “WaterRisk: The first and only predictor of non-weather water claims,” locationinc.com/water-risk-data (accessed Jan. 26, 2023).

[9] “Facts + Statistics: Homeowners and renters insurance,” iii.org/fact-statistic/facts-statistics-homeowners-and-renters-insurance (accessed Feb. 10, 2023).


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