Health insurance laws have changed a lot over the past decade. As such, there is a lot of confusion when it comes to purchasing a health insurance plan. Here at Insurance & Financial Services Inc. serving Baton Rouge, LA. we want to help you understand health insurance and get answers to the questions you may have. One question that we are frequently asked is how pre-existing conditions affect health insurance. How a pre-existing condition affects health insurance varies based on the type of insurance you are looking at. Here are three common types of health insurance and how pre-existing conditions affect each type of insurance. 

The Health Insurance Marketplace

If you are purchasing health insurance during an open enrollment period through the Health Insurance Marketplace, pre-existing conditions will not affect your policy. The medical company cannot ask you about any pre-existing conditions, cannot charge more for pre-existing conditions and cannot deny you coverage due to pre-existing conditions. 

Private Health Insurance

If you are purchasing health insurance through a private company, you may be asked about pre-existing conditions. Pre-existing conditions can affect your policy amount and may even play a role in whether you are denied coverage. 

Group Health Insurance

Group health insurance plans, more commonly known as employer-sponsored plans, cannot ask you about pre-existing conditions, increase your rate because of them or deny you coverage because of them, thanks to the Affordable Care Act. However, a group health insurance plan can ask you if you smoke and increase your rates based on that. 

Are you looking to purchase health insurance in the greater Baton Rouge, LA area? Contact us at Insurance & Financial Services Inc. today to get answers to any questions you may have and help to purchase a great plan for your needs. 

Your renters insurance in Baton Rouge, LA will have three key types of protection. This includes coverage for personal possessions, liability protection, and additional living expenses.

Coverage for Belongings

• How much should you buy? Be sure to have enough to replace all your belongings in the event of a covered disaster. Use a home inventory to help.
• Is actual cash value or replacement cost better? It’s worth the extra price to get replacement cost coverage since it doesn’t take into account depreciation.
• Which disasters are covered? Be sure to check with your agent at Insurance & Financial Services Inc. to know which disasters are covered and not.
• What is the deductible and how does it work? Your deductible is what you are responsible for paying before you get insurance coverage. The larger the deductible, the lower your premium will be.
• Do you need a floater? This will provide more coverage for expensive valuables. This can be for collectibles, furs, jewelry, or artwork.
• Are you covered while away from home? Most policies have this coverage. For example, if your laptop gets stolen while on vacation, you are covered.

Liability Protection

The key here is to determine if you have enough liability coverage. If you need larger amounts of coverage, you may want to purchase a personal liability policy. You want enough liability coverage to protect your assets in the event of a lawsuit.

Additional Living Expenses

Additional living expenses can provide coverage if your home is destroyed and you will need to live somewhere else. This coverage will cover a portion of your hotel bills, restaurant meals, or other expenses you incur from having to live somewhere else.

Contact Insurance & Financial Services Inc. serving Baton Rouge, LA, to get a quote on renters insurance.

It’s pretty much common knowledge by now that auto insurance is required for the cars you drive, but what about your motorcycle? Before you get caught unprepared out on the road, it’s important to understand what Louisiana’s insurance laws are and what you need to do to comply. The experts at Insurance & Financial Services Inc. are here to help, serving clients in the Baton Rouge, LA area and beyond. Here’s what you need to know:

The state of Louisiana is an ‘At Fault’ State

What does this mean, exactly? Well, in the event of an accident, the person who is deemed to be responsible for the accident (usually as the result of a police report and/or investigation) may be liable for paying for all incurred damage and trauma. This includes associated medial bills. 

Now, if you do not have motorcycle insurance, you are not permitted to file a claim. Period. This means that even if the other person involved is clearly at fault, you won’t be able to do much– if anything– about it if you do not have coverage. This is one reason why all motorcyclists are required to carry proof of insurance on them at all times while out on the road. 

If You Live in Louisiana, You Must Meet Coverage Minimums

For motorcyclists in Baton Rouge, LA (and anywhere in the state, for that matter), the minimum coverage amounts are $15,000 for bodily injury to one person or death (one person)
$30,000 for bodily injury or death to two or more persons involved, and $25,000 in coverage for damage or destruction of property during a single accident. 

Taking the Next Step

When you’re ready to learn more about your coverage options and get the motorcycle insurance coverage you need, contact the experts at Insurance & Financial Services Inc. We’re happy to answer any questions you have and get you started on the path to a great policy for you and your motorcycle. 

 

At Insurance & Financial Services Inc., we have helped Baton Rouge, LA residents, and those in the surrounding area, get insurance coverage to help with cancer. So if you or someone you love has a type of this disease, you need to take steps to manage it right away.

General Health Insurance Will Pay for Cancer Care

While it is true that buying insurance while suffering from cancer is a difficult task, it is far from possible. Many individuals suffering from cancer find great insurance policies at prices that they can afford. However, you can still expect to have higher rates for your coverage.

Just as importantly, you may be denied for certain types of cancers. For example, very dangerous cancer, such as leukemia, often causes an insurance provider to balk at providing coverage. However, there are very few types of cancer that will trigger a complete rejection.

Critical-Illness Policies Help Pay for Treatment

Individuals who suffer from critical illnesses can purchase policies that cover these problems. Though this type of policy is often a little more expensive, they can help with cancer and other dangers. However, you need to make sure that you buy this type of policy before you get cancer.

Unfortunately, you typically cannot buy this type of coverage after you are diagnosed with cancer. This can cause some limitations in your coverage that may complicate your treatment. However, there are still insurance options to consider if you need care.

You Can Get Insurance

So if you are suffering from cancer and you need help finding a policy that suits your needs, please contact us at Insurance & Financial Services Inc. today. Our experts work with Baton Rouge, LA residents every day and can help you get the coverage you need to beat cancer for good.

The type of commercial insurance you need will depend on the size of your business and your industry. You work hard to grow and maintain your business, and you don’t want to experience losses due to an accident or unforeseen circumstances. Insurance & Financial Services Inc. can protect your business from these events in Baton Rouge, LA.

Required Commercial Insurance in LA

If you have employees, you are required to have workers compensation insurance. This covers the employee’s medical expenses and lost wages in the event they are hurt on the job and protects the owner from liability.

If vehicles are driven for business purposes, you are required to have commercial vehicle insurance. This includes both company-owned vehicles and private vehicles that are driven while doing work for the business. A pizza delivery driver and an employee who is sent to the store to pick up business supplies are a few examples.

Recommended Commercial Insurance

In addition to state-mandated coverage, you may need other types of insurance to protect your business.

Commercial Property Insurance is available for those that own and lease the property. It covers any damage done to the property or the contents, similar to a homeowners policy.

General Liability Insurance protects you from liability in the event that a non-employee is injured on your property. Businesses that serve the public like stores and restaurants can benefit from this type of insurance.

Product liability insurance will protect your business from injuries or damages sustained from products that you manufacture or sell. Any business that manufactures or sells physical products should consider this insurance.

These are a few types of commercial insurance that you may need in Baton Rouge, LA to protect your business. To get a tailor-made insurance package that meets all of your needs, contact Insurance and Financial Services Inc.

Home Insurance is something most of us know we need, but many do not understand exactly what it covers and for how much. This is why sometimes some insured people are left with less coverage than they expected after something happens. At Insurance & Financial Services Inc. we want to make sure that you have exactly the coverage you expect when it comes to protecting your home and assets.  We serve Baton Rouge, LA and the surrounding areas. 

Do You Need an Umbrella Policy With Your Home Insurance? 

The key thing you should look for in your current policy to tell you if you may need an umbrella policy is your policy limits. If the amount of your policy limits is less than you may lose in the event of a lawsuit, or in medical bills, or in the loss of property itself then you likely want to add umbrella coverage to increase those limits. 

In addition to the need for an increase, if you need more monetary coverage, you may need to add the umbrella if you have an increase of risk. An increase of risk would be if you worked from home and had clients on the insured property, if you are high-profile in the public eye, if you enjoy recreational vehicles, or if you have a pool or trampoline. Discuss your need for additional coverage with one of our insurance agents soon.  Also note that Flood Insurance is not covered under regular home insurance, nor an umbrella, it is a separate policy altogether. 

Contact us at Insurance & Financial Services Inc. to find out how easy it is to add umbrella insurance to your current policy and if you have the need in your life. We serve clients in and around Baton Rouge, LA. 

Insurance is a critical investment for any homeowner. However, tenants are not always keen on purchasing the right renter’s insurance coverage to safeguard their personal belongings from perils like fire, theft, water damage, etc. Renters insurance is not mandatory in LA, but many home associations have passed laws that govern the insurance requirements for any tenants living in their properties. In such a case, renters insurance becomes mandatory in that particular home association. If you need renters insurance in Baton Rouge, LA, Insurance & Financial Services Inc. can help you get a flexible and affordable coverage.

Why is Renters Insurance Important?

Many home associations make renters insurance mandatory due to various benefits. First, renters insurance covers losses resulting from accidents or natural disasters. In the event of a covered loss, both the renter and the tenant will quickly recover from the financial losses and restore the property to its habitable state. If such losses were to be left in the hands of tenants to fund out of pocket, the losses that could build up from endless lawsuits and delayed remittances could be unbearable. Additionally, renters insurance caters for additional living expenses in case the property is rendered inhabitable after a covered disaster.

Coverage Options

Just like homeowners insurance, renters insurance is packaged in different policy options. Here they are:

Liability coverage

This policy will protect you in case someone visiting your rented property incurs injuries that are attributed to your negligence or fault. It could be as simple as a slip and fall incident that turns tragic.

Personal Properties Coverage

Natural disasters like fire or wind can easily gulp your valuables within minutes. This coverage replaces your lost properties to the limit of your coverage amount. Depending on what you prefer, you can choose a replacement cost or an actual cash value of your insured properties.

If you live in a rented home in Baton Rouge, LA, consider buying enough renters’ insurance coverage from Insurance & Financial Services Inc. Contact us today and speak to our professional agents who will guide you in choosing the right renter’s insurance policy.

 

 

 

 

Everyone has seen the news stories about floods taking place in various areas of the country, including Louisiana. No one wants to be faced with something like that. But preparedness brings peace of mind, and having flood insurance is especially important. Here are key reasons for having flood insurance, courtesy of Insurance & Financial Services Inc. serving the Baton Rouge, LA area.

Extra Coverage in Addition to Home Insurance

Many people might assume that a standard home insurance policy covers floods. That is not necessarily accurate, and getting a flood insurance policy is an added wise measure that specifically covers flooding conditions.

Not Just for Certain Storms

People typically think of floods that are of epic magnitudes, such as those that come along with hurricanes, when they think of floods. But flood conditions can also be present simply during severe thunderstorms and heavy rains. Those types of conditions can occur anywhere, although the Louisiana area can get a hurricane and tropical storm conditions too.

Being Prepared for Various Types of Weather

You never know when a flood may happen. Those weather conditions typically occur suddenly and without warning. By then, it is too late to take a look at what insurance coverage you have. So it is much better to be prepared by getting the proper flood insurance in place well in advance of storms.

As you can see, flood insurance is a wise investment and a way to have added peace of mind no matter what happens with the weather. Do you have more questions about flood insurance? Feel free to contact us at Insurance & Financial Services Inc. serving the Baton Rouge, LA area.

Getting insurance for your Baton Rouge, LA senior is a critical way of ensuring that they are healthy and safe. Contact us at Insurance & Financial Services, Inc. to learn more about your options here. Most of the time, seniors over the age of 65 automatically qualify for Medicare but you can also get them supplemental plans or private coverage that expands their care. 

What Types of Medicare is Available

There are several types of Medicare plans available for your loved ones. These include:

• Part A – Covers hospitalization and home health care.
• Part B – Manages medical services, like doctor visits and x-rays.
• Part C – Lets you buy other types of policies through private companies.
• Part D – Covers prescription drugs.

Most seniors will automatically qualify for these types of plans and will require very minimal payments. For example, some will have only minimal yearly costs that you or your senior must pay to keep their coverage active.

When Supplemental Policies are Wise

While Medicare will typically cover most of your loved one’s needs, there is a chance that there are gaps in their coverage. In this situation, you can buy Medigap policies to help them become fully covered. For example, these policies help manage co-insurance prices and stays while at a nursing home. They are usually a cheaper alternative to simply paying for this type of coverage out of your own pocket.

We Can Protect Your Senior Loved Ones

So if you think that your Baton Rouge, LA area seniors need high-quality health insurance to protect them from serious issues, please don’t hesitate to contact us at Insurance & Financial Services, Inc. Our high-quality insurance providers can make sure that your loved ones get the full coverage that they need to be healthy.

Any business you do out of your Baton Rouge, LA home should have business protection. At Insurance & Financial Services, Inc., we think it’s in your best interest to understand why you need business insurance for your small home business.

Will Your Current Home Insurance Help?

You should go over your current plan and speak to your insurer. If items you use for your business are damaged or stolen, your home insurance may not cover it since it’s business equipment.

If someone hurts themselves on your property while picking up or buying something from you, your liability coverage may not kick in. Your insurer may view that accident as a business liability problem that they don’t cover.

If you’re doing anything in or around your house specifically to profit, then it’s a business. This applies if what you’re doing is just a hobby or weekend endeavor.

Sometimes, operating a business of any type can violate your home insurance agreement. Make sure you know what’s covered. Some home insurance plans can have some built-in business coverage. Some insurers also offer home insurance add-ons to allow a home business.

What Do You Need to Cover?

All businesses come with risks. You need business insurance to cover eventualities that can come up during the course of you doing business. Basic business insurance can cover your business property, some liability, and offer you some loss of income insurance.

However, if you’re running something like a food service from your kitchen or a wood shop in your garage, you’ll need more protection. If you hire even one person, you will need more robust business insurance options.

At Insurance & Financial Services, Inc. in Baton Rouge, LA, we offer business insurance choices to accommodate any home business. If you currently have a home business or plan to start one, contact us immediately.