Questions to ask before choosing a health insurance policy

Choosing your health insurance coverage is very important to your health. You need to know you can get the health services you need without bankrupting yourself. At Insurance & Financial Services Inc. in Baton Rouge, LA, we can help you find the right policy to provide the coverage you need at a price you can afford. 

What is the premium?

You have to be able to afford your health insurance. While the premium is not always the best way to choose your coverage, choosing a policy you can’t afford doesn’t make sense. 

Is my doctor in the network?

All insurance carriers have a network of doctors and healthcare professionals. If you have a doctor or doctors you prefer, you need to ensure they are in the network of the policy you are considering. 

What is the yearly deductible?

The yearly deductible is the amount of out-of-pocket payment that you will have to make before your health insurance starts to cover you. High-deductible policies are more affordable, which has made them popular. The problem is that you may end up paying all your medical expenses out of pocket if you don’t have an HSA. 

How much do my drugs cost?

Your insurance carrier will have a formulary that lists all the covered drugs and the amount you will pay to fill your prescription. The drugs are assigned to a tier, and each tier has an out-of-pocket cost. 

What type of managed care is it?

Three major types of managed care are available; HMO, PPO, and POS. HMOs are the most restrictive but also the most affordable. It is essential that you understand all the requirements that come with each type. 

Contact Insurance & Financial Services Inc. Baton Rouge, LA for your health insurance needs. 

Why You Need Home Insurance

When you own your own home, you need to protect it with the right insurance. Getting home insurance is an integral part of this protection. It offers a few different types of protection for you and your home. Mortgage lenders and most HOAs also require it. If you don’t have your home insurance policy yet, it’s time to call us at Insurance & Financial Services Inc. in Baton Rouge, LA.

Home Coverage

One of the most essential parts of this type of insurance is protection for your home. When you have home insurance, it offers a layer of protection for the dwelling. It protects you against many risks, such as specific disasters. When you don’t have home insurance, and a damaging event happens, you would have to pay for all the repairs yourself. This can be prohibitively expensive for most homeowners. And if your home is destroyed, your policy will pay for your home to be rebuilt. 

Possessions Coverage

Another way that this insurance protects you is by covering your possessions. Most or all of what you own is in your home, and all those items must be covered. When a damaging event covered by the policy destroys your things, the policy will pay for replacements. When you think about how much stuff you have, it’s easy to see how great it is to have everything protected. Don’t go without this coverage when replacing what you own is so expensive. 

Get Home Coverage

When you want to be prepared for all your home’s risks, it’s crucial to have home insurance. If you’re buying a home or want to switch your insurance to a different company, call us today at Insurance & Financial Services Inc. in Baton Rouge, LA.

It never floods where I live. Is flood insurance worth the cost if I don’t live in a flood zone?

Floods are responsible for property damage, human and livestock loss, landslides, erosion, and more. As a result, flood insurance is beneficial in many ways. Even areas that aren’t prone to flooding aren’t exempt from the possibility of a flood. This is why investing in flood insurance may be a good idea. Our Insurance & Financial Services Inc. team is committed to educating Baton Rouge, LA residents on the impact of floods and the benefits of flood insurance. 

What is Flood Insurance?

Flood insurance is designed to provide financial coverage for the repair or replacement due to damage and property loss resulting from flooding. Flood insurance typically covers your home, auto, appliances, structures on your property, electrical and plumbing damage, and more. Typically, an insurance representative will determine your risk factors for flooding based on your geographical location and its flood history. Topographical maps are commonly used to gauge your area’s susceptibility to flooding. 

It never floods where I live. Is flood insurance worth the cost if I don’t live in a flood zone?

Perhaps. Many floods occur in places considered at low risk for flooding. Moderate or low-risk areas aren’t exempt from the possibility of flooding. As a result, it may be a wise choice to invest in flood insurance. The National Flood Insurance Program (NFIP) reports that at least forty percent of all flood claims come from moderate or low-risk areas. If you are interested in learning more about flood insurance, call us. We’d be happy to answer your questions. 

Is umbrella insurance right for you?

Many people think umbrella insurance is pointless, but is it really? It depends on what you need. Some people do just fine with their auto and home policies, while others need extra insurance. Is umbrella insurance right for you? Let’s dive in and discuss umbrella insurance and whether it suits your needs.

Do you have any added liability risk factors?

If you have anything that adds risk to someone getting hurt on your property or due to your actions, then you might want to consider an umbrella policy. Some risk factors include the following:

  • Teenage drivers
  • A swimming pool
  • A trampoline
  • A dog
  • Frequently having guests over

What is your net worth?

Someone with a high net worth would benefit more from umbrella insurance than someone just scraping by. Unfortunately, in this day and age, people like to sue. You automatically have a target on your back if you have a high net worth and many assets. They see that you have a lot of assets, and they will do whatever it takes to get some of that for themselves.

Do you own a business?

Someone who owns a business has a lot to lose if someone decides to sue them. If you own a business, you might benefit from umbrella insurance. An umbrella insurance policy will protect you from severe financial loss. Companies have a variety of expenses, and liability issues don’t need to be one of them. One lawsuit could put you out of business.

Contact Insurance & Financial Services Inc.

Contact Insurance & Financial Services Inc. in Baton Rouge, LA for a quote if you are considering an umbrella policy.

Flood Insurance: How can I find out about my flood risk?

Flooding is a significant concern for Insurance & Financial Services Inc. customers living in Baton Rouge, LA. With the city near the Mississippi River and more active hurricane seasons, it is vital to be aware of your flood risk to protect yourself, your family, and your property. Learning about your flood risk is the first step toward finding an insurance solution that works for you. 

Determining Your Flood Risk 

Living in Louisiana means everyone is subject to flooding, but the risk varies. To assess your home’s level of vulnerability, check FEMA’s flood maps. When you enter your property’s address, the FEMA maps show designated zones noting potential danger from floods, regulations, and associated insurance requirements.

Is flood insurance mandatory?

Most of Baton Rouge is in moderate to high-risk zones on the FEMA maps. FEMA Flood Maps designate moderate- to low-risk flood areas. Moderate regions still have potential flooding but are at a lower risk than other zones. In moderate regions, flood insurance is highly recommended but not mandatory.

High-risk flood locations are subject to the highest chance of being flooded. Obtaining flood insurance is obligatory if you own property within such an area and your mortgage is federally backed. Sometimes the maps can be confusing, so call us if you have questions. One of our agents can walk you through the maps and help you make the best decision to protect your property. 

Understanding your flood risk is essential when protecting yourself against flooding in Baton Rouge, LA. So don’t wait; contact Insurance & Financial Services Inc today for more information about protecting yourself from floods!

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.