Three important advantages of having health insurance

One of the best things you can do for your health and your financial future is to carry health insurance. Insurance & Financial Services Inc. offers health insurance in Baton Rouge, LA. 

The following are three significant advantages to be aware of when it comes to having health insurance.

Health insurance helps you to get the medical treatments you need to stay healthy.

When you’re sick, medical treatments can be essential for your quality of life and survival. Unfortunately, needed medical treatment can also be costly.

With health insurance, you can get the costs of the medical treatment you need to be covered to continue to enjoy a healthy and happy life. 

Health insurance prevents the expenses that result from health problems from wiping out your savings.

Even if you have a lot of money saved up to cover medical costs, it’s still important to carry health insurance.

Without health insurance, you may find yourself having to pay out of pocket for health care costs. This makes it so that an illness can easily wipe out some or all of your savings. 

Health insurance can make it so that you’re less stressed about medical costs.

Naturally, consumers tend to be stressed when worried that health issues can create huge financial problems.

A health insurance policy can give a consumer more peace of mind and prevent stress about medical costs. 

Are you in the market for health insurance in Baton Rouge, LA?

We can help you at Insurance & Financial Services Inc. Contact us for a policy quote so you can find the best health insurance option. 

Does home insurance cover everything on my property – or just the house?

When you purchase a home, there is a lot to think about. It would be best if you considered the cost of utilities and taxes, upkeep, repairs… and insurance. But when you buy home insurance, what exactly does it cover? Does your policy cover the house’s structure, or can you add coverage for other elements such as personal property, outdoor structures, and more?

Insurance & Financial Services Inc. can help you find home insurance options in the Baton Rouge, LA area.

Structural Coverage 

Most homeowners insurance policies will provide coverage for the structure of the home. This includes your house itself, as well as any attached structures such as garages and sheds. Structural coverage typically protects against loss due to fire, lightning strikes, hail damage, windstorms, theft, and vandalism. 

Personal Property Coverage  

Homeowners’ insurance policies may also include coverage for personal belongings like furniture and electronics. Personal property coverage may be included as part of your overall policy or can be purchased as an add-on. Generally speaking, this type of coverage protects against damage or theft of items inside your home or garage due to things like fire or burglary. 

Outdoor Structures Coverage  

Outdoor structures such as gazebos or fences are typically not covered under standard homeowners insurance policies; however, these items can often be added for an additional fee if desired. If you have an outdoor swimming pool on your property, it will likely require specialized coverage because of the increased liability involved with owning one. Still, coverage can usually be purchased through your insurer for an additional fee if desired.

If you still have questions, contact Insurance & Financial Services Inc. today. We can go over your policy and explain what exactly it covers in Baton Rouge, LA.

Four Add-ons to Consider for Your Commercial Insurance Policy

If you own a business in Baton Rouge, LA, investing in commercial insurance should be on your priority list. Commercial insurance protects your business against seen and unseen risks.

While commercial insurance is a worthy investment, you should know it doesn’t cover you against all events. Insurance & Financial Services Inc. highlights add-ons you should consider to fill in gaps in your standard commercial insurance.

Professional liability

Do you offer professional advice? You can face significant financial losses if accused of missed deadlines or negligence. Professional liability insurance cushions you when sued because of your professional services.

Flood Insurance

Most standard commercial insurance policies don’t cover flood damage. However, the good thing is that you can purchase stand-alone flood insurance to cover your business against flood damage. Flood insurance repairs or replaces your business premises and other assets when floods strike.

Earthquake insurance

Is your business located in an earthquake-prone area? You should invest in earthquake insurance because your typical commercial insurance doesn’t cover your business against earthquake damage. Earthquake insurance cushions your assets and covers debris removal and other services indicated in your policy.

General liability insurance

Although general liability insurance isn’t mandatory, all businesses should invest in this coverage. Taking your hard-earned business down the drain only takes one significant liability incident. Liability insurance protects your business when accused of bodily injury or property damage. Also, business liability insurance comes to your rescue when sued.

Protect your business with commercial insurance

Still unsure about the add-on you should consider for your commercial insurance policy? Don’t worry. We understand that you can’t know everything about commercial insurance. So, if you are in Baton Rouge, LA, or the surrounding area, please contact Insurance & Financial Services Inc. for more information.

Even Renters Need Insurance – Don’t Be Without It

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.

Why the Need for Umbrella Insurance Increases as You Near Retirement

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 All Homeowners Need Flood 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.

Do I Need To Renew My Health Insurance Every Year?

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.

What Should I Do If I Have a Problem With My Home Insurance Policy?

If you have a problem with your policy, you should try to resolve it with your insurance company before filing a claim. You can complain through your state insurance regulator if this doesn’t work. Your state may also have a mediation program that you can use to try to resolve the dispute with your insurer before filing a lawsuit. 

If you have a problem with your policy or have an unpaid claim or an incorrect amount of coverage, contact your provider as soon as possible. Or, consult Insurance & Financial Services Inc. in Baton Rouge, LA. 

Handling Your Home Insurance Policy 

Suppose the policy provider can’t solve the issue. In that case, you can contact your state insurance regulator or the Property and Casualty program of the National Association of Insurance Commissioners (NAIC) for assistance. 

You must read your policy and understand what is covered and what isn’t. Your agent can also give the next way forward. If you feel that your insurance company has acted unfairly, you can file a claim with the state insurance department. 

You should always read your policy thoroughly and ensure you know what is and isn’t covered. If your policy has a problem, you should first resolve it directly with your insurer. 

If your policy has a problem, consider contacting your provider. In the event of a claim, the sooner you let your insurer know, the smoother the claim process will be. Many insurers have an online chat service or telephone line that you can use to get immediate advice on what to do in an emergency. 

Conclusion 

If you cannot agree and feel the provider’s actions were unfair and unethical, you can contact your state insurance regulator for assistance. Regulators can help resolve disputes between consumers and insurance providers. Insurance & Financial Services Inc. can help you in Baton Rouge, LA.

The Top 5 Questions People Ask About Renters Insurance

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.

 

4 Facts You Should Know About Umbrella Insurance

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.