BUSINESS Some Kinds of Insurance Just Waste of Money
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t» — MANCHESTER HERALD. Monday. July 11. 1983 BUSINESS Some kinds of insurance just waste of money • Uo you nave insurance against being mugged? about everything. Dancers insure their legs and feel, provide. If you can’t decode the language or have any You can find a policy that covers property losses, violinists insure their hands. For carefully defined questions, call your agent or the consumer affairs medical costs, lost earnings and other expenses professions and needs, such specific policies provide division of the issuing company. associated with being mugged, robbed or even raped. Your vital protection. The purpose of insurance is to protect yourself • Or do you have so-called dread-disease insu Money's But consider boating insurance, which so many of against events that would cause a financial disaster rance? You can, in the health field, find policies, such you have — needlessly. Your homeowner’s liability for you and your family if you are forced to absorb the Cloudy tonight; Manchester, Conn. as those that insure you against cancer, which is policy covers your boat if you own or rent a sailboat losses. Worth less than 26 feet long; an outboard power boat of 25 warm Wednesday probably the most dreaded of all diseases. Rather than spending any money on frills and Tuesday, July 12, 1983 horsepower or less; an inboard or inboard-outboard • Or perhaps you have credit card insurance? This Sylvia Porter offbeat policies, make certain you and your family are — See page 2 boat of 50 horsepower or less. If you have a bigger or Single copy: 25C is a policy that costs a mere $25 a year and which you adequately protected against more typical hazards. more powerful boat, review your coverage if you are feel gives you additional protection against fraudu That means good comprehensive life, health, auto and Hanrl^FHtrr HUrralft relying on your homeowner’s policy. lent charges on your credit cards — in case you lose home insurance policies. Include disability insurance your cards or they are stolen. Or consider car rental. When you rent a car, you and, depending on where you live, flood and even If you have any of these insurance policies (and your insurance dollars to boost your major medical usually can elect to pay an additional fee for a collision earthquake protection. there are plenty m ore), you are misspending your coverage. deductible waiver. This fee covers the amount for money by buying the wrong kinds of coverage while On credit card insurance, this is really unnecessary which you, the driver, would be liable in case the Do not rely on narrowly defined policies to pay out almost surely not buying enough of what you do need. if you keep track of your credit cards and maintain a rental car is involved in an accident; without it, you benefits for an unlikely event. Save yourself money A full 80 percent of you who buy insurance succumb to list of the toll-free numbers to call in event of loss or might be responsible for all repairs up to that amount. and become a self-insurer for those hazards that are the lure of such offbeat policies as the above, says the theft. Do not be fooled into believing that you get Fees range from $5 to $8 daily, but before you rent a so remote it’s improbable you’ll ever benefit from the Insurance Information Institute. additional protection against fraud. Federal law car, check your auto insurance and find out whether it policies. On anti-mugging insurance, you probably already restricts your losses to $50 per card; usually the card covers collision damage on a rented car. Many auto kills are covered through your homeowner’s or tenant’s companies won’t even hold you responsible for that policies do. Even so, buying a collision damage ("Sylvia Porter’s New Money Book for the 80s,” policy, and you are spending unnecessary dollars to sum. This policy, incidentally, guarantees that the waiver might be worthwhile, for if you do make a 1,328 pages of down-to-earth advice on personal --- duplicate coverage. If you’re uncertain, ask your insurance company will notify the credit card claim on your auto policy, your premium might be money management, is now available through her insurance agency and reread your policy. companies once you notify the insurance company higher when it comes to renewal and the extra cost for column. Send $9.95 plus $1 for postage and handling to, On dread-disease policies, these are such a gamble that your cards have been lost or stolen (longest way rental insurance might turn out to be a bargain. "Sylvia Porter’s New Money Book for the 80s,” in care that they’re not really not worth the money. Why bet around, indeed). of this newspaper, 4400 Johnson Drive, Fairway, Kan. condos on that you’ll develop cancer rather than kidney disease BEFORE YOU BUY another policy, study the ones 66205. Make checks payable to Universal Press or some other serious health problem? Better spend THE INSURANCE INDUSTRY has policies for just you now have. Understand what benefits they Syndicate.) 2 Business Retired execs great lawn In Brief By James P. Sacks currently zoned for 16 single- giving advice Herald Reporter family homes. Gryk said he and Lynch plan to Doctor takes over practice Rebuffed by the Planning and go ahead with the “ maximum Zoning Commission Monday in a (number of single-family homes) to smaii firms controversial attempt to build 26 that we think desirable.” He did Dr. Alfred Taricco, a 1953 graduate of Manches luxury condominiums on the Che- not specify how many homes the ter High School, has taken pver the surgical ney Lawn in Manchster’s National developers plan to build, but said practice of Dr. Mel By LeRov Pope Historic District, the owners of the the homes would take up almost vin Horwitz with. United Press International lawn will go ahead with plans to the entire lawn rather than less offices at 29 Haynes construct single-family homes on than four acres, St. NEW YORK — Any small business in the United the property, one owner said this Dr. Horwitz has States that needs expert counseling and guidance but morning. IN DENYING the application left the practice to can’t afford to pay for it can get it free from SCORE. -ew.- ^ • "Their decision has cleansed our changing the lawn’s zoning, the study law. consciences about the fate of the PZC said the proposed condomini- Dr. Taricco at SCORE stands for Service Corps of Retire Great Lawn," said attorney Wes- urns were not the best use for the tended Tufts Uni Executives. SCORE and a companion organization ley Gryk, who owns the lawn’s land and did not fit the character of versity where he ACE — Active Corps of Executives — provide eight-acre central portion along the neighborhood. Commission received his bache voluntary counseling under the sponsorship of the Herald photo by Tarquinio with automobile dealer Michael members suggested that a cluster lor’s degree in 1957. U.S. Small Business Administration in Washington. Lynch. of a smaller number of condomini- In 1%2 he received Last year SCORE gave help to 128,693 business firms Truck blaze Gryk added that development of urns closer to Hartford Road, the his M.D. degree and ACE helped 22,912. Eighth Utilities District firemen hose down the hydraulic fire. Apparentiy untouched by the flames, he was taken ■ the lawn was subject to a "prior lawn’s southern boundary, would from Tufts School of SCORE’S army of retired business professionals pole-driver on a Northeast Utilities truck Monday commitment made a month ago” have been more appropriate, Medicine. He did his to Manchester Memorial Hospital for treatment of has grown from 3,800 in 1970 to about 9,000 now and but would not elaborate further. He Asked if the developers had post graduate surgi morning on Buckland Street near the Brentwood Swim injuries from landing on his hands after he jumped. The ACE’s force has climbed 2,633 — business executives did not close the door to the considered appealing the zoning cal training at New Club minutes after the truck burst into flames at about 11 who give of their awn to help small firms. truck was pulling utility poles as part of the Interstate 86 possibility of the lawn’s preserva- commission decision, Gryk said England Center a.m. The hydraulic operator, Al Morgan, an emplyeeof J construction project. No one else was in the truck at the tion for historic purposes. the possibility had not been Hospital in Boston The SCORE service is frw . All any firm that has NU, leapt from his seat when the back of the truck caught "W e thought we were doing discussed, and the Veterans time. There were no other injuries. problems need do is telephone any oneof SCORE’s405 people a favor in preserving the The developers contended dur- Adm inistration chapters around the country. The case will be lawn (by proposing condomini- >ng a zoning commission public Hospital in Omaha, assigned to a retired executive living in the Dr.Alfred Taricco Neb. um s), but that’s noLthe way it will hearing in June that condomini- community and he or she will have access to the ‘Just window dressing’ be," Gryk said. "Our experts tell urns would better preserve the As a lieutenant services of other retired executives with a wide commander in the United States Naval Reserve, us we’re going to make more lawn than single-family homes.