People understand why homeowners’ insurance is needed. But how about renters? Most tenants think they don’t need insurance because their landlord’s insurance will cover them. But this is not correct. Let the Insurance & Financial Services Inc. of Baton Rouge, LA explain why this coverage is important.

The landlord’s insurance policy provides protection only for what the landlord owns. Items inside the building the tenant owns are excluded. This information is probably stated in the lease signed at the rental time.

Renter’s insurance is a necessity. It protects the renter and their property. As with other forms of insurance, the customer chooses the amount of coverage and their deductible, then pays a monthly premium based on these choices. The amount of coverage a renter chooses is determined by the value of their property.

Renter’s insurance covers theft, vandalism, fire, plumbing and electrical malfunctions, weather events, and other hazards. There are two things a renter’s policy will not cover. Earthquakes and flooding are not included in the coverage. Specific policies are needed to cover these events if you live in an area prone to either of these hazards.

Any renter that has a furry four-legged friend especially needs this protection. If you have a guest and your dog decides to bite, this coverage pays for any medical costs that may arise.

Also, remember that any hazard not explicitly listed in the policy will not be covered. For example, if the policy doesn’t list damage from faulty plumbing, there is no coverage for it.

If you are a Baton Rouge, LA renter, ensure you protect your belongings with renter’s insurance. The Insurance & Financial Services Inc. can provide you with a quote or answer any questions you may have. Contact our office today.

When you purchase insurance from Insurance & Financial Services Inc., you cover some aspect of your life in or around Baton Rouge, LA. It might cover your home, business, or automobile, but it includes liability insurance.

Your need for increased liability grows as you age. At that point, you need to add umbrella insurance to the policies you carry. Umbrella, a secondary type of insurance, offers added liability protection to a primary policy that already offers liability insurance coverage.

As you age, you build a nice nest egg for retirement. If you don’t add umbrella insurance to your primary policy, then when you retire, you put your entire savings in jeopardy.

Home insurance offers about 10 to 20 percent of the home’s value as liability coverage. If your home value equals $200,000 and your policy offers 10 percent of its coverage as liability, then you obtain coverage of $20,000. The liability pays for a guest’s medical bills if an accident occurs at your home.

Hospitals cost quite a bit, though. An overnight stay costs about $8,000, so if the guest needs more than one night’s stay or more than one person gets hurt, your liability costs exceed your home policy coverage.

If you carry umbrella insurance, as soon as your home policy pays out the last dollar, your umbrella policy kicks in and pays the rest. All costs come out of your pocket if you do not carry an umbrella policy. This includes any court settlement from the accident.

Since these policies cost just a few dollars per month, it makes good sense to purchase one. Contact Insurance & Financial Services Inc. serving Baton Rouge, LA for help getting started with this crucial secondary insurance.

Do you have flood insurance? If not, you are putting your home investment in jeopardy. It’s worth knowing that flooding can occur anywhere in America and anytime. And the unfortunate thing is that your standard home insurance won’t cover flood damage. So, if you don’t have flood insurance in Baton Rouge, LA, please contact Insurance & Financial Services Inc. for affordable coverage.

Do all homeowners need flood insurance?

I have home insurance. I don’t live near a coastline. I have paid off my mortgage. Do I need flood insurance? Good question! You may have home insurance, but it won’t protect you when floods strike unless you have a flood insurance rider. Yes, you may not live near a flood zone, but floods can strike anywhere. Have you ever heard about flash floods? Anywhere it rains, it can flood.

Complying with your mortgage requirements shouldn’t be the only motivation to purchase flood insurance. Flood insurance comes to your rescue any time floods strike. This way, you don’t have to start from scratch when floods ravage your beloved home.

Why every homeowner needs flood insurance

Now that we can agree every homeowner needs flood insurance, let’s look at the benefits of flood insurance. They include:

• Protects your home structure: Flood insurance covers damage to your home, meaning you don’t have to incur out-of-pocket costs when disasters strike.
• Protects your assets: Flood insurance safeguards the assets inside your home, ensuring you don’t start from scratch when floods occur.
• Gives you peace of mind: If you have invested in flood insurance, you don’t have to be edgy every time the weatherman forecasts an impending storm.

Ready to get started with flood insurance in Baton Rouge, LA? Please get in touch with Insurance & Financial Services Inc. for an affordable quote.

You will likely have to renew your health insurance every year, but if you have a grandfathered or transitional plan, you may not have to renew it until the plan expires. 

If you have a non-grandfathered plan, you will have to renew your policy every year and purchase a new one if you let your policy expire without buying another one. Check with Insurance & Financial Services Inc. about what you can do to ensure you are ready to renew your plan and purchase a new one if you let your policy expire. The firm serves in Baton Rouge, LA.

More About Health Insurance Renewal 

Health insurance policies are typically renewed once a year, and some companies offer the option to renew up to 60 days before the policy expires. You’ll likely be able to purchase a new plan with different coverage options during this time. 

If you don’t sign up for a policy, your plan will end, and you will no longer be covered. However, you can usually only purchase a new policy up to a certain amount of time before your current policy expires. You’ll need to renew yearly if you have a "conventional" plan." 

You’ll need to meet specific standards of the Affordable Care Act and be renewed according to these standards. The only way to keep a conventional plan is to keep it "conventional" — i.e., keep it the same as when you first bought it. Medicare has no annual enrollment period. You may sign up for Medicare when you turn 65. If you have Medicaid, yet another public health insurance program, you do not need to renew your coverage every year. 

Key Takeaways 

Depending on your provider’s terms and conditions, you may keep your provider’s insurance policy for up to 12 months. If you have a non-renewable policy, you can’t keep it beyond its original term. For a quote, you can visit or call Insurance & Financial Services Inc. in Baton Rouge, LA.

Renters insurance is one of those things that you know you need but may not fully understand. And that’s okay! In this blog post, we’ll answer the top 5 questions people have about renters insurance so that you can make an informed decision about whether or not it’s right for you. So, without further ado, let’s get started.

1. Do I need renters insurance?

If you’re renting an apartment, condo, or house, chances are your landlord requires you to have renters insurance. It protects your belongings in the event of a fire, theft, or another covered disaster. It also provides liability coverage if someone is injured while on your property.

2. How much does renters insurance cost?

Renters’ insurance is relatively affordable, with the average policy costing about $15 per month. However, the amount you’ll pay will depend on the value of your belongings and the amount of coverage you need.

3. What does renters insurance cover?

Renters insurance typically covers your personal belongings in the event of a fire, theft, or other covered disasters. It also provides liability coverage if someone is injured while on your property. Some policies also cover additional living expenses if you need to relocate due to a covered disaster temporarily.

4. Does renters insurance cover my electronics?

Yes, most renters’ insurance policies will cover your electronics in a covered disaster. Some policies may limit how much they’ll pay for each item, while others provide replacement cost coverage. Be sure to read through your policy thoroughly to know precisely what is and isn’t covered.

5. How do I file a claim?

If you need to file a renters insurance claim, the first thing you’ll need to do is contact your insurance company. They will then send an adjuster to assess the damage and determine how much you’ll be reimbursed. Be sure to keep all receipts and documentation of your belongings to report their value to your insurance company accurately.

Now that you know the answers to the top 5 questions people ask about renters insurance, you can decide whether or not it’s right for you. We recommend speaking with an Insurance & Financial Services Inc. agent in Baton Rouge, LA, if you’re still unsure. We can help you find the right policy to meet your needs and budget.

 

What’s the best way to get the most out of an insurance policy? You guessed it right — knowing the basics of that particular coverage. So, when you want to invest in umbrella insurance, there are several facts you need to know about it to ensure you don’t get a raw deal. And if you don’t know where to start, Insurance & Financial Services Inc. of Baton Rouge, LA is ready to walk you through the umbrella insurance process.

Here are four facts you need to know about umbrella insurance.

Umbrella insurance is suitable for almost everyone

One of the most common myths about umbrella insurance is that it’s for the super-rich only. This statement is half true. While umbrella insurance protects the assets of high-net-worth individuals, you don’t have to have reached the million-dollar mark to invest in umbrella insurance.

Given the litigious nature of our society, umbrella insurance is suitable for anyone who earns a livelihood. This way, you ensure that the assets you have worked so hard to accumulate are protected when expensive lawsuits knock on your doors.

It gives you broader coverage.

Umbrella insurance gives you higher coverage as well as broader coverage. This means that umbrella insurance covers you against liabilities not covered by conventional liability coverages.

Umbrella insurance isn’t a stand-alone coverage.

Yes, you will never get umbrella insurance on its own. This insurance rides on other liability coverages, such as car, boat, renters, or home insurance.

It’s super affordable.

Umbrella insurance being an expensive insurance policy is one of the popular myths you will hear. But guess what? Umbrella insurance is super-affordable, given that it takes over after the underlying coverage has been exhausted.

Get umbrella insurance today.

Would you like to boost your conventional liability coverage with umbrella insurance? If you are in Baton Rouge, LA, or the surrounding area, don’t look beyond Insurance & Financial Services Inc.

If you live in an area that’s prone to flooding or simply want to be prepared for the unexpected, flood insurance may be something to consider. However, this form of insurance isn’t available everywhere. Our team at Insurance & Financial Services Inc. is happy to answer any questions about flood insurance for Baton Rouge, LA residents.

What is Flood Insurance?
Flood insurance is coverage designed to replace or compensate you for damage to your home or personal belongings as a result of a flood. A flood is defined as an overflow of water on land that is usually dry. Flood insurance provides coverage for people who may experience a flood and incur damage to their homes and belongings as a result. 

How do I know if I’m Eligible for Flood Insurance?
In order to participate in the flood insurance program, you must reside in an area where flood insurance is offered. This is typically referred to as an area where the National Flood Insurance Program or NFIP is offered. The National Flood Insurance program provides different forms of flood insurance in areas where flood insurance is offered. Flood insurance is available to property owners, renters, and businesses, where available. Call one of our agents today to discuss flood insurance eligibility. 

If you reside in an area that doesn’t offer flood insurance, your community can use floodplain management criteria that match the flood risk data presented by FEMA. If you have questions about flood insurance and how you can obtain it, give us a call. Our team at Insurance & Financial Services Inc. is standing by to answer questions and help Baton Rouge, LA residents get the coverage they need. 

Given the soaring health care costs and the emergence of new illnesses, it would be catastrophic to live without a sound health insurance plan. But because health insurance is one of the most complicated insurance policies, Insurance & Financial Services Inc. of Baton Rouge, LA, has prepared a FAQs section to shed more light on this insurance coverage.

What is health insurance?

It’s an insurance plan that provides protection for medical and surgical costs for the insured. However, the insured should pay premiums to continue enjoying the coverage.

Is health insurance mandatory in Louisiana?

No law in Louisiana mandates residents to invest in health insurance. Similarly, employers have no obligation to purchase health insurance for employees. However, where the employer provides health insurance coverage, the law requires employers to cover certain benefits.

Why should I invest in health insurance?

A sound health insurance plan protects you and your family in many ways. It covers medical expenses whenever you get sick or injured. Without health insurance, the out-of-pocket expenses are so prohibitive, and you may not get the care you need due to insufficient funds. The other benefits of health insurance include:

• Covers preventive care: Health insurance doesn’t always come to your rescue when sick or injured. It covers preventive health services like vaccinations and annual checkups. Simply said, health insurance protects your health by preventing diseases from occurring in the first place.
• Peace of mind: Your health is one of your most prized assets. Health insurance gives you peace of mind by knowing that what matters most to you is protected.

We certainly know there is so much you need to learn about health insurance. So, if you have more questions, please get in touch with Insurance & Financial Services Inc., serving Baton Rouge, LA and its environs.

Small businesses make a big difference. With all the work you put into your business, you’ll want to make sure it has the coverage it deserves. Louisiana requires a certain amount of commercial insurance. Plus, you may need commercial insurance to get a loan. Have questions about your coverage options? Insurance & Financial Services Inc. can help. We’re right here in Baton Rouge, LA. Meanwhile, read on to find out why lenders often require commercial insurance. 

Investment Protection 

Your business is a key part of your livelihood. If anything goes wrong, insurance can protect you from financial difficulties. 

A lot of people buy insurance to protect an investment. Well, if you finance your business with a loan, then you’re not the only one who has invested in your business. Your lending company has taken a risk too, and your lenders will want to mitigate that risk as much as possible. 

If you have commercial insurance, your lender can rest assured that you’ll be able to pay back your loan, even after a disaster. 

Collateral 

Getting a loan is a minefield. Often, it all comes down to your credit score. But what if you don’t have a high credit score? Can you still get a business loan? 

Yes, but you may have to jump through some extra hoops. For instance, you may need collateral. But if your collateral is damaged in an accident, then it can’t help you or your lender. If your collateral comes from your business itself, then a lender may want to know that your collateral is covered. 

Commercial Insurance Questions and Answers 

Want to make sense of commercial insurance? We’re here to answer your questions. Contact Insurance & Financial Services Inc. today. We can help you from right here in Baton Rouge, LA. 

Many people who rent their house, apartment, or mobile home from a landlord tend to think that the landlord’s insurance will cover their personal property as well as the structure they live in, but that is simply not true. Renters insurance is a very important and very affordable policy that all people who rent their homes should have in place. The agents at Insurance & Financial Services Inc. Baton Rouge, LA are stressing the importance of renters insurance.

A renters insurance policy will help you recover any of your personal property that is damaged due to a horrible incident, such as a fire, vandalism, or even a natural disaster, including a tornado or hurricane. It will also help you replace items that are stolen if your home suffers a breaking and entering incident. While the structure itself is always covered under the landlord’s property insurance policy, a renters insurance policy will cover not only your clothes and household items but any appliances, computer equipment, and other items that belong to you that you have worked hard to purchase over the years.

Countless people who rent their homes have stood on sidewalks watching their house burned to the ground and losing virtually everything they own because they did not have a renters insurance policy in place. Do not be one of those people. It is a simple policy to obtain and you will be so thankful for it in the face of a crisis.

To create the best renters insurance policy for you and your hard-earned belongings, you should list the help of a trusted insurance agent who has experience with renters insurance like the ones at Insurance & Financial Services Inc. Baton Rouge, LA. Call for an appointment today!