Protecting assets is crucial for individuals with substantial wealth in and around the Baton Rouge, LA area. While most may have high-limit insurance policies in place, these policies may not fully shield their wealth from potential risks and liabilities. Umbrella insurance picks up to protect your assets that other policies may not cover. 

The Role of Umbrella Insurance in Asset Protection

Umbrella insurance is designed to fill the gaps left by primary insurance policies, serving as a protective shield for an individual’s wealth and assets. Critical aspects of umbrella insurance as an asset protection tool include:

1. Increased Liability Coverage: Umbrella insurance provides additional coverage in increments of one million dollars or more, extending the limits of primary policies. This extra coverage is a financial buffer, protecting individuals from large-scale claims or lawsuits that could threaten their assets.
2. Legal Defense Costs: Besides covering the settlement of claims, umbrella insurance includes legal defense costs. This is crucial, as legal expenses in liability cases can be substantial, regardless of whether the case is won or lost.
3. Asset Preservation: By mitigating financial risks and potential losses, umbrella insurance helps preserve an individual’s wealth and assets to continue enjoying their lifestyle and investments.

The Synergy of an Overall Asset Protection Strategy

High-net-worth individuals should work with financial advisors and insurance professionals to develop a comprehensive asset protection strategy that aligns with their unique needs and risk profile. This strategy may include a combination of various insurance policies, trusts, legal entities, and other risk management tools to safeguard their wealth and assets from a wide range of potential threats.

Insurance & Financial Services Inc. Can Help You

Here at Insurance & Financial Services Inc., we can answer all your questions concerning umbrella insurance. We assist the Baton Rouge, LA region. Contact us today.

Flood insurance is critical to saving a home and property if it is damaged in a flood, especially in the Baton Rouge, LA area. Some locations require it due to the area of flood zones, while others are optional. Having the added coverage can deliver a sense of peace in a time of such disasters. 

How Flood Insurance Can Help 

Flood insurance differs from homeowner’s insurance and is necessary to replace or repair damaged homes and property when flood waters rise unexpectedly. When Flash Flood Watches and Warnings are posted, the waters can cause extensive damage to the structure and stability of the home.  

It can also damage other buildings and personal property within the premises. It is essential to realize that flooding may still occur even if the residence is not in a flood zone, and having the added protection can save the homeowner thousands of dollars.

Heavy Rains and Rising Waters 

Like other areas, those living in and around Baton Rouge, LA know how quickly the Mississippi River can quickly flood certain regions. Heavy rains over an extended time can cause the river and other surrounding waterways to overflow nearby properties. 

Even though the cities have good drainage systems, heavy rains at an alarming rate can cause water to rise and bring wrath to the area. Floods from hurricanes and other strong pop-up systems can deliver several inches per hour. Being prepared is critical.  

How Insurance & Financial Services Inc. Can Help You

At Insurance & Financial Services Inc., we can tend to your flood insurance needs and answer common and unique questions. Please contact us to find out how we can help you if you live in a flood zone or wish to have the option of getting flood insurance. 

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. 

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. 

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.

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!

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. 

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.