Why Do Lenders Require Commercial Insurance?

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. 


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. 

The Importance of a Renters Insurance Policy

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!

Why should someone get umbrella insurance in Louisiana?

Those that are in the Baton Rouge, LA area will always want to make sure they have good insurance coverage. A great way that this can happen is by getting a full umbrella insurance policy. This type of coverage will offer you unique personal liability support and protection. There are several benefits that come with getting this coverage.

Support for More Significant Risks

One common reason to have this support in Louisiana is so you can have support for more significant claims. Most people will get coverage through home and auto plans, but a very significant claim could lead to liability that exceeds your policy limit. With an umbrella plan, you are going to get the additional protection needed to mitigate this insurance as it will provide support on top of your existing policies.

Support for Situations not Covered

It would also be wise to get an umbrella insurance plan to have support for situations that are not otherwise covered by insurance. There are many potential liabilities taken on by people on a regular basis, which are not protected by your standard home or auto plans. An umbrella plan is broader and will give coverage for many more forms of liability risk. 

If you live in the Baton Rouge, LA area, you will always want to ensure that you have the right personal liability coverage in place. A great way that you are able to do this is by obtaining an umbrella coverage plan. As you are assessing all of your options, calling Insurance & Financial Services Inc. can be a good idea. If you are going to call Insurance & Financial Services Inc., you can learn a lot about the different options available. This will help give you the support you need to build an ideal plan. 

Baton Rouge, LA: Must-Have Insurance Protects Against Flood Damage

Baton Rouge, LA is a large city on the banks of the Mississippi River and only 200 or so miles from the Gulf of Mexico. It is an Antebellum city, boasting many of the accolades of the past in the Deep South, especially those before the Civil War. It is the home of Louisiana’s State Capitol, and the Magnolia Mound Plantation. 

Tourists and locals alike enjoy the history and spirit o Baton Rouge. Many come to visit the Gulf or cruise down the Mississippi River in a showboat. When it’s sunny, there’s not much to worry about. But what about when it rains?

 Is Baton Rouge on a Flood Plain?

Yes. Baton Rouge is a primary floodplain area and is quite prone to flooding. Due to the close proximity of the River to the coastland, there is a good chance that the locations close to the coastline will flood at one time or another. 

For Baton Rouge residents, it’s wise to think ahead and get flood insurance from Insurance & Financial Services Inc. Their fine staff of licensed insurers and other professionals can assess your likelihood of damage due to flood and show you how a flood insurance policy is your best means of protection.

No one knows what the future holds. Watching the weather forecast can help you know what might be coming, but only having a solid foundation of flood insurance can protect you from the loss you may experience if you are uninsured when that flood comes. 

Visit with Insurance & Financial Services Inc. today to find out how you can protect yourself from whatever the future (or the weather) may bring with flood insurance that meets your needs any time of year. Then, when Mother Nature turns angry, you’ll be ready!

Health insurance terms you need to understand

Health insurance provides important protection. Without it, you may not get the preventative care you need. That can lead to more serious illness. Which at the end of the day, can be more expensive and serious than just getting the early preventive care. Choosing a plan that is affordable and provides the care you need is not easy. When you have an insurance agent you trust, it can really help. At Insurance & Financial Services Inc. in Baton Rouge, LA, we understand health insurance, and we are here to help. 


Most insurance carriers have a network of healthcare providers who have agreed to treat their customers at agreed-upon rates. Making sure your preferred providers are in the network is important if you want to continue to use them. With many plans, you must see providers who are in-network or services will not be covered. 


This is a very important figure; it is the amount you will have to pay yourself before any services are covered. If it is high, you may end up paying for all your services out of pocket. High deductible policies are the most affordable which makes them popular. 


This is your portion of any covered service. After you have met your deductible, you will still likely have a co-payment for most services. 


This is the listing of the drugs available to those who have a particular health insurance plan. The drugs are usually listed in tiers by how much you need to pay for a month’s supply. Both generic and brand-name drugs may be included. If you take prescription medication, it is important to make sure your particular drug is on the list. 

If you need to find health insurance, give Insurance & Financial Services Inc. in Baton Rouge, LA a call or visit our office. Our team has the knowledge you need. 

Advantages of Getting Home Insurance

Home insurance may not be mandatory in any state, but in hindsight, it is one of the essential policies that homeowners within Baton Rouge, LA can reap immense benefit from. From giving you peace of mind to keeping your loved ones safe against accidents that they cause, these are just some advantages that this policy provides. Below, Insurance & Financial Services Inc. takes you through other benefits you can expect from your home insurance cover.

Eases Your Mortgage Journey

Before you can sign up for your mortgage, numerous lenders require proof of insurance, as this assures them that their property is safe when disasters strike. Fortunately, home insurance comes with multiple coverage options, with examples being building property coverage that protects the structure of your home. Such a cover will often be enough for your mortgage, helping you get started on your homeownership journey without any delays.

Offers Protection Against Lawsuits

With the number of liability lawsuits being on the rise, property owners are not exempt from legal trials, requiring you to get the proper protection beforehand. This will especially come in handy if you regularly entertain family and friends or have employees within your residence. If, for instance, your friends get injured at your place or their property gets damaged, and you are sued, your legal fees could accrue to significant amounts, leaving you with a dent in your finances. Home insurance can help with this, ensuring you cover your legal costs and damages.

Protect Your Home and Possessions

Disasters can happen at any time and will often range from mild to severe occurrences. Whichever of these emergencies you are faced with, fixing your home and your contents could mean taking out significant savings to cover your repairs and replacements, funds which could have otherwise been used to cater to other family needs. Home insurance offers protection when covered perils arise, allowing you to get back on your feet in no time.

To enjoy the above benefits of home insurance, consider getting in touch with Insurance & Financial Services Inc. today. We understand that no two Baton Rouge, LA homes are the same; that is why we offer customized policies for homeowners looking to protect their investment.

Do I Need Renters Insurance Even if My Landlord Has Insurance?

If you live in Baton Rouge, LA, you’re probably wondering why you need renters insurance when your landlord has insurance. Every person in the neighborhood is likely to have the same questions. Insurance & Financial Services Inc. has been educating people why they need renters insurance regardless of the landlord’s homeowners insurance.

You Can Lose Your Properties

The fact that you live in a secure neighborhood does not mean that you cannot lose your property. Thieves can get away with some value from your house. Unfortunately, homeowners’ insurance will not cover such properties. You need to have renters insurance so that you can recover the lost items. 

You Can Be Sued for Injuries

Having people visit your rented house is a common practice. It helps you bond with your neighbors and create meaningful relationships. The problem is that people can sue you for injuries when they get injured when visiting your house. Renters insurance is one of the liability policies that can help you cover the cost of medication and possible lost income. 

Your House Can Become Uninhabitable

Structural damages, flooding, and fire can make your rented house uninhabitable. This means that you will be living in a hotel when technicians solve such problems. Living in such places can have significant financial impacts on your savings. However, with renters insurance, you will not face such problems. Your insurance company will take care of your living expenses during the period of repair. 

What Next?

As a residence of a rented house in Baton Rouge, LA, you don’t need to pay too much attention to your landlord’s insurance. Ensure you get renters insurance from a local company that will take care of the uncertainties discussed above. Call Insurance & Financial Services Inc. today for advice on the best renters’ insurance policy that will take care of your belongings and liabilities.

Is having umbrella insurance in Baton Rouge important?

If you are a resident in the Baton Rouge, LA area, it will be very important that you carefully assess all of your personal insurance needs. A common form of insurance to consider getting is umbrella insurance, which will provide you with additional personal liability insurance protection. For those that do live in this area, there are many reasons why you should get one of these insurance plans.

Insurance Gives Coverage for Big Risks

Most of the time someone in this area of Louisiana will already have some liability coverage through their existing auto or home policies. However, these policies will always come with a cap regarding how much liability coverage you can receive. If you are ever at fault for an accident that causes very serious damage that is in excess of your existing plans, the umbrella policy will offer the additional coverage you need.

Insurance Covers More Risks

You should also consider getting an umbrella insurance plan as it can offer you coverage for more risks. An umbrella insurance plan offers coverage for a much wider range of risks that you can get coverage for through other insurance plans. This can give you peace of mind knowing that you are prepared and protected against otherwise unpredictable events and risks. 

Those that live in the Baton Rouge, LA area should consider getting umbrella insurance coverage. Those that are going to get an insurance plan here should call Insurance & Financial Services Inc. to discuss their insurance needs. If you are going to speak with Insurance & Financial Services Inc. you will get to learn a lot more about the different insurance options that you have. This can help you to pick a plan that will be right for you and your situation. 

How to Know if You Need Flood Insurance for Your Home

If you live in certain areas or have requirements for having flood insurance, you will need to get coverage. One of the main sources for insurance is the National Flood Insurance Program (NFIP). Private insurers can provide flood insurance and help homeowners and businesses get adequate coverage.

If you live in Baton Rouge, LA, Insurance & Financial Services Inc. can help you with your flood insurance needs. Whether you are a homeowner or business owner, we have helped many people find the right coverage at the right price. 

Key Reasons For Getting Flood Insurance

Some good reasons exist for having flood insurance. Property damage may not be part of your current homeowner’s policy for instance. Having proper coverage, insufficient amounts can afford you greater peace of mind in the event of a disaster. It may be required in certain circumstances such as having a mortgage with a lender, but personal protection can be valuable and worth considering. Some reasons to consider having flood insurance are:

  • Live in a high-risk flood zone
  • Protecting your valuable investments and belongings
  • Peace of mind knowing you are protected

An Experienced Insurance Agency in Baton Rouge

Contact us at Insurance & Financial Services Inc. in Baton Rouge, LA to speak to one of our qualified agents about flood insurance for your home. We have helped countless homeowners gain peace of mind with the right coverage at affordable rates. Our agents are happy to help you understand the ins and outs of hour flood insurance policy and will help you with any questions you have. We look forward to serving you.

Who Needs Health Insurance in Baton Rouge, LA?

If you live in Baton Rouge, LA, and are interested in learning more about health insurance in your area, you should consider the expertise of an agency such as Insurance & Financial Services Inc.

If you are wondering who is required to have health insurance in Louisiana, technically the answer is no one. The Affordable Care Act does dictate that everyone should have insurance. However, there is no federal tax penalty at this point for people who go without health insurance. This means that on your federal tax return, you are still going to have to report whatever status you have in terms of coverage, but you are not going to have to pay any penalty if you don’t have coverage.

There are multiple states that have passed their own requirements in terms of health insurance that their citizens have to follow. However, Louisiana is not one of these states.

However, this certainly does not mean that you should skip getting health insurance coverage. Health insurance coverage can be very important in many cases. Even if you are young and healthy, you never know when a health issue could spring up. In fact, if you end up with a serious injury or illness that you did not anticipate, you could end up spending a great deal of money paying off hospital bills because you are not insured. In order to avoid this situation, the best option is to have health insurance before anything like that happens.

If you reside in the city of Baton Rouge, LA, you should feel free to contact the professionals at Insurance & Financial Services Inc. with any questions that you may have about health insurance in your area. They will be able to share their knowledge with you and point you in the right direction in terms of how important health insurance is for you and perhaps what policy you should choose for yourself.