Factors Affecting Your Home Owners Insurance

Have you ever compared notes with your neighbor and found out they paid less for the same thing you bought? It happens – grills, vehicles, or bikes for the kids. But, you can both save on your home owners insurance though by knowing what increases its costs.

Many of the items or amenities that add to your home’s value also add to its insurance, like a swimming pool. That doesn’t mean you shouldn’t have a pool. It does mean you should include protections that make it safer. It already costs enough to live in gorgeous Baton Rouge, LA. Read on to find out the things you can do to live more safely and reduce your costs in this blog from Insurance & Financial Services, Inc.

What Affects Home Insurance

Your home owners insurance protects your house and its contents, plus covers you for liability if someone gets injured on your property. Many factors affect how easy it is to obtain adequate coverage and low premiums.

Around your home, owning a pool, trampoline or other dangerous recreational equipment affects your costs. You can install a fence around your pool, spa, or trampoline to ensure no one can surprise you with an unplanned visit without your permission and supervision. You can also outfit your pool with safety devices, such as floatation devices, life jackets, and life preservers.

If your home needs remodeling, especially if it includes outdated wiring, which enhances fire hazards, your costs go up. You can remodel your home which improves its livability, your resale value, and lowers monthly premiums.

Personally, your credit score affects your costs. You or your spouse, or both of you, can take on a part-time job to earn extra income to pay down credit cards and loans. This improves your credit score which will get reflected in your insurance premiums.

Broadly, your neighborhood’s crime rate affects your home insurance. You might think there’s nothing you can do about this, but you can form a neighborhood watch. You can also work with local police to train and form and volunteer neighborhood patrol. Spotting and reporting crimes immediately result in quick arrests. A police crackdown on a neighborhood led internally by its residents results in a lower crime rate.

Finally, the amount of coverage and your deductible comprise two deciding factors in your costs. If you can afford a higher deductible, the portion you pay out of pocket if you need to make a claim, you can lower your premium costs. Adding riders or additional coverage for expensive jewelry or electronics will also result in a cost increase.

Call or visit Insurance & Financial Services, Inc. to find out more about home owners insurance and ways to live better for less in Baton Rouge, LA. We want to help you get the most out of your home and your home insurance.

Do You Need Business Insurance for a Small Home Business?

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.

Renter’s Insurance Helps You Stay On Your Feet

When you are a renter in Baton Rouge, LA, it can be tempting to skip purchasing all that insurance you might think is the responsibility of your landlord. However, the agents at Insurance & Financial Services, Inc. want to remind you that renters insurance is an inexpensive way to keep your savings account intact and your future on track.

Replace Your Stuff when Disaster Strikes

If your apartment building burns down in a fire, your landlord’s insurance only replaces the building. That doesn’t help you with your furniture, wardrobe, and all the other things that cost you a bundle to buy. Renters insurance helps you replace your possessions, so you won’t be relying on emptying your savings account.

Pay for Lodging when Your Apartment is Lost

Even if your unit was spared the flames, it could become uninhabitable due to smoke, water, or fumes. What will you do while it is renovated? A hotel can cost more than you expect. You can add temporary housing to your renter’s insurance. When you know you have a safe place to sleep, you can keep working and continue on with life until your place is refurbished and ready to be occupied once again.

Cover Medical Bills after an Accident

If one of your friends trips on the front stairs, your landlord’s liability insurance will handle their medical bills. When they fall in your apartment, that’s when your renter’s insurance kicks in and will take care of the trip to the ER while making sure that your friendship remains in one piece.

If you think all this coverage has to be unaffordable, think again. Check with your knowledgeable insurance agent at Insurance & Financial Services, Inc. in Baton Rouge, LA and be pleasantly surprised that your peace of mind is entirely within your reach.

How Umbrella Insurance Works to Keep Your Protected

Umbrella insurance is excellent for someone who has amassed a number of assets throughout their lifetime. The idea behind it is to have liability protection that a policyholder can use to protect themselves against financial ruin in the event of baseless allegations or a single lawsuit. But while this insurance may be more associated with the wealthy, there are reasons why someone of more limited means may still benefit from having the right umbrella policy. 

Extra Protection 

Insurance & Financial Services, Inc. works with people in Baton Rouge, LA who may be in a targeted position. So if a small business owner is sued for discrimination, they’ll need someone to be able to handle both the legal aspect of the claims as well as the potential loss of reputation. A general commercial insurance policy will certainly help, but the owner may find that they exceed the limits of that policy far faster than they realized. Umbrella insurance is there to pick up the slack where those limits drop off. So not only is it helpful to have, sometimes it can be downright necessary for the policyholder. 

Help When You Need It 

A policyholder doesn’t have to be a millionaire to want to protect their livelihood. That’s why Insurance & Financial Services, Inc. is here to help people who want to keep themselves safe from any number of threats in Baton Rouge, LA or throughout the state. If you’re interested in learning more about our policies, give us a call to find out more. We not only take the time to answer your questions about umbrella insurance, but we can also alert you to potential issues you may not have originally considered. Having this information is the perfect way to arm yourself against a loss of assets.

Why you need flood insurance in Baton Rouge, LA.

Baton Rouge, LA is a beautiful place to live; the beautiful landscape and the friendly demeanor of the residents make the city and suburbs an ideal residential area. However, if you live here or considering moving in, you should consider taking up flood insurance from Insurance & Financial Services, Inc.

Floods aren’t a rare occurrence here, and over the years, residents have lost property to the spontaneous floods leaving them with a huge financial setback. With a flood insurance policy, you can protect yourself financially from such incidences. 

Here are other reasons why you should take up the coverage:

  • Helps you repair or rebuild your house: house repairs are among the most costly to undertake while recovering from flood damage. With flood insurance policy options, you can repair your house with ease. 
  • Helps you replace your personal belongings: Everyone has possessions and souvenirs that make our houses feel more homely. It could be your television, kitchen appliances, or clothing. Losing such items to floods is always devastating; however, with a flood insurance policy, you can replace your personal belongings. 
  • Peace of mind: Building a home is an investment that takes years of planning and sacrifice. Losing the investment to perils such floods can be difficult for anyone, financially and emotionally. A flood insurance policy is an ideal solution to such circumstances. With it in place, you can rest assured that you will always have a place to call home. 

Flood insurance solutions in Baton Rouge, LA. 

Are you looking for a reliable flood insurance coverage? Contact Insurance & Financial Services, Inc. for an ideal flood insurance solution. Our insurance agents are knowledgeable in the flood insurance niche and are at hand to advise you on the perfect policy option. Make your living space feel more like home with our flood insurance coverage. Reach out to our agents for a quote.

Family Health Insurance Versus Individual Health Insurance: What Are the Differences?

If you are looking to purchase a health insurance plan for your family, one of the questions that you may have is how a family health insurance plan differs from an individual plan. At Insurance & Financial Services, Inc., serving the greater Baton Rouge, LA area, we want you to be informed about the different options so you can make an informed choice as to which plan is best for you. Here are a few of the differences between individual and family health insurance plans. 

The Cost 

One of the differences between a family health insurance plan and an individual health insurance plan is the cost. It is typically cheaper to buy one family health insurance plan than it would be to buy individual plans for everyone in your family. 

The Deductible

Another critical difference between a family health insurance plan and an individual plan is the deductible. On an individual plan, you have one single deductible you need to meet. On a family plan, there is an individual deductible for every person and a family deductible. Whichever deductible is met first is the one that matters for a family plan. 

The Policy Limits

The last key difference between individual and family health insurance plans is the policy limits. On an individual plan, the policy limits only apply to you. On a family plan, there are family limits. This means every person who is on the family plan has their totals combined. If one person has been ill and has needed a lot of care, it may affect the amount of coverage left for everyone else on the plan. 

When you are ready to purchase a health insurance plan in the Baton Rouge, LA area, contact Insurance & Financial Services, Inc. We can help you find the right health insurance plan for your family’s needs.

Comprehensive Coverage for Your Baton Rouge Home

Louisiana residents are encouraged to look into comprehensive coverage in order to protect what is likely their largest asset, their home. Insurance & Financial Services, Inc. is here to help you navigate what can sometimes be a confusing process, and help you find the coverage that you need. If you currently have home insurance, it is always a smart idea to review your policies on a regular basis as your needs may have changed since the time that you reviewed the coverage. Our agents are more than happy to assist you in this review of your home insurance in the Metairie and Baton Rouge, LA areas.

A Standard Home Owner’s Policy May Not Provide Adequate Coverage for Your Needs

If you are preparing to purchase a home and are unsure what type of coverage best meets your needs, Insurance & Financial Services, Inc. can help. We will walk you through the features offered by various policies and help you to determine which might be the best for your situation. Many people, when shopping for home insurance, do not consider a personal articles rider for their more expensive items. If you own expensive art, jewelry, or electronic equipment, they may not be covered to their full value amount with your home owner’s policy. Many insurance policies impose limits on the maximum claim amount for a single item. A personal articles rider is just one example of the importance of comprehensive coverage for your Louisiana home.

The fully-trained and professional agents at Insurance & Financial Services, Inc. in Baton Rouge, LA can help you consider all angles of your home insurance needs and help you secure the comprehensive coverage that is appropriate for your situation. Please call or visit us today.

Small Businesses and Cybercrime: How to Protect Yourself

When it comes to cybercrime in Baton Rouge, LA, most people are used to hearing about major corporations being breached. Hackers who went after Target stole credit card information, while those who went after Equifax took social security information. All of which happened in numbers that are beyond most business owners’ imaginations. However, just like individuals are experiencing identity theft on a daily basis, so too are small businesses. Find out what you need to know about it from Insurance & Financial Services, Inc.

Risks in Baton Rouge, LA 

No location on Earth’s safe from cybercrime, regardless of what you do and who you are. Even major corporations like Apple have a difficult time keeping their security up to speed (and there’s no one more prepared for hacks than Apple.) So when it comes to your business, you need to be aware of not just tech geniuses who penetrate your network, but also social phishers who rely on tired or stressed out employees to click on something that they shouldn’t. Having better preventative strategies can call to attention any glaring gaps in your security, but you can also go one step further for the ultimate in protection. 

Call Someone Who Knows 

Insurance & Financial Services, Inc. has seen people who have to deal with security breaches, and it’s not always a pretty picture. Having the right commercial insurance can help though. When you’re conducting business online, you need a way to both protect your customer’s sensitive information and a plan on what to do should it be stolen. Give us a call today if you’re looking for a better plan. We can help you decide which policy will best keep you from being under the thumb of a hacker who just wants to use your information for their gain. 

3 Reasons Millennials Should Consider Renter’s Insurance

More than three-quarters of millennials living in Baton Rouge, LA rent apartments. Renting is a great and viable option if you have just graduated from college and landed your first job.  

Here are the top three reasons why you need to apply for a renter’s insurance from Insurance & Financial Services, Inc. as soon as possible.

1. Renters Insurance Protects You and Your Stuff

There is no big difference between homeowners insurance and renters insurance except the fact that a renters policy is tailored to meet the needs of a renter. Your landlord’s policy does not cover your property in any way.

The renter’s insurance covers personal possessions such as electronics and furniture, medical payments if someone other than yourself gets injured in an accident at your place, and personal liability if you are ever found to be legally responsible for property damage or injuries like the slip and fall cases. Renters insurance also covers some extra living expenses such as your residence becoming uninhabitable and having to find an alternative accommodation.

2. It Can Cover Your Roommate Too

A renter’s insurance policy can cover up to two unrelated people meaning that you can add your roommate to the same single policy. However, if you are living with more than two people in the same apartment, then the rest will have to get an additional policy.

3. It is Highly Affordable

A renter’s policy for millennials living in Baton Rouge, LA is affordable. It is much cheaper than the other insurance policies and will save you money in the long run. Adding your renter’s insurance policy to your other existing policies makes it even less expensive through bundling.

You can get more information on renters insurance by visiting our offices at Insurance & Financial Services, Inc. Our agents are ready to answer your questions and help you get started right away.

Why You Need Umbrella Insurance

One of the most important personal responsibilities that people have is making sure that they are properly insured. While most Baton Rouge, LA residents are aware that they need to have a home and auto insurance to provide insurance protection, many would also benefit from having an additional umbrella insurance policy.  

You Have a Lot of Assets

One of the main reasons why people should have an umbrella insurance policy is that they have numerous assets that need to be protected. If you are being sued and found to be liable, the other party will likely try to take as many assets from you as possible. This can include your car, home, bank accounts, retirement accounts, and even take a lien on your future income. If you are sued, your umbrella insurance policy will provide you with coverage to ensure that your personal assets are not taken. It is important to discuss your limits with an agent.

Basic Insurance is Not Enough

Most people that own cars and homes will have some form of liability insurance coverage included in their insurance policies. Unfortunately, this level of insurance is often not enough. If you are involved in an auto accident that resulted in serious damage or medical bills, the total amount of the damage could quickly exceed your liability insurance protection in your auto insurance policy. Having the additional umbrella insurance will provide the gap you need to ensure that you are protected.   

In conclusion, having an additional umbrella insurance policy can be a great option. For those that are in the Baton Rouge, LA area and are in need of additional umbrella insurance, reach out to Insurance & Financial Services, Inc. for advice and questions. Insurance & Financial Services, Inc. will be able to provide you with a consultation on your insurance needs and can start the process of providing you with a quote.