If you are a Baton Rouge, LA resident, you probably know how expensive lawsuits can get. While most insurance comes with liability coverages to protect you against significant financial losses, most have limits. That is where umbrella insurance comes in–which protects you and your family against major financial crises. At Cordell Insurance, we encourage everyone to buy umbrella insurance as it comes with many benefits. However, some individuals need this policy more than others. They include the following:
Umbrella insurance is a particularly valuable tool for wealthy households as these homes tend to be lawsuit targets. Big homes with ponds, trampolines, and swimming pools can quickly attract lawsuits, especially from visitors. Additionally, if you own pets and other domestic animals, you may need to have enough insurance just in case they stray to your neighbor’s compound and cause damage.
Large families, especially those with children below the ages of 18, require adequate umbrella insurance to protect the family from financial losses due to damage, injuries, or lawsuits. For instance, teenagers tend to engage in dangerous activities at home, such as throwing parties in your home in your absence. Such behavior could result in painful lawsuits that can leave you broke.
Asset owners in Baton Rouge LA have a high public profile. They also have a large number of employees which exposes them to lawsuits. Assets attract a lot of attention, especially if these assets involve dealing with a large number of people. For instance, if you own a number of residential and commercial properties, you are at risk or getting slapped with a lawsuit by your tenants. That is where the umbrella policy comes in.
Like asset owners, business owners deal with people from all walks of life. If you operate a restaurant, the chances of getting threatened or actually getting sued are higher than businesses that don’t deal with clients directly.
Feel free to contact Cordell Insurance for all your insurance needs!
Do you have a concern for your Lousiana home when it comes to flooding? Whether you’re new to the area or haven’t had any flood issues on your property, it’s important to understand that this could become a problem for you one day. Read on to learn why you should have flood insurance in Louisiana.
Protection of Your Property
Not only does flood insurance cover damage to your dwelling but you also can have your belongings repaired or replaced in many instances. This does, of course, depend on how much coverage you have. Find out if surplus lines may be added to your policy in order to help with the cost of losing detached structures, damaged items, and in some cases your additional living expenses.
Flood Insurance Is Required with a Mortgage in Certain Situations
In Louisiana, business owners and homeowners usually are required to have flood insurance if they’re in high-risk areas and they have a mortgage through a federally insured or regulated lender. It’s still a good idea to have it if you’re in the low or moderate risk areas.
Flood Insurance Is Not Covered Under Home Insurance
That’s right, there’s no flood insurance coverage in your average home insurance policy. You would have to seek this out on your own and ask any questions to make sure you’re getting the right coverage to fit your circumstances. Cordell Insurance serving the Baton Rouge, LA area can help with this.
Wide Variety of Options
You may not realize this but flood insurance isn’t just for private homes and places of business. You also can get this coverage for a rental property or a condominium. This opens up coverage to many more individuals and families.
Want to find out more about flood insurance and if it’s right for you? Contact Cordell Insurance of Baton Rouge, LA today and our agents will address your questions and concerns.
If you are in the Baton Rouge, LA area, it is very important that you carefully consider all of your personal insurance needs. One form of insurance that you will need to consider getting is life insurance. If you are going to get a life insurance policy, it will help to ensure that your loved ones are protected. There are several tips to follow that can help someone in this area to choose an appropriate life insurance policy based on their personal needs.
Consider Coverage Needs
One of the most important factors to consider when you are looking for life insurance is the amount of coverage that you need. This can be a complicated factor to determine as it is very personalized. It is important to carefully consider all of the future financial needs that your dependants could have. Based on this assessment, you will be able to determine how much coverage you need when shopping for a policy.
Choose Type of Policy
It is also important to consider the right type of policy. The two most common options are term and whole life insurance. With a term life policy, you will receive coverage for a specific period of time. With this policy, your premiums are normally lower than with other options. With whole life, your premiums will likely be higher, but you will have coverage for as long as you want it and the policy provides investment benefits.
Ultimately, picking a life insurance policy in the Baton Rouge, LA area is a big decision. When you are looking for coverage, you should work with Cordell Insurance. The team at Cordell Insurance can help you to find a policy that provides you with coverage that is right for your situation.
In the state of Louisiana, it is not required by law that homeowners obtain an insurance policy to cover their property but it is recommended. If you still owe money on your home that you borrowed from a mortgage company, bank, or other lenders, more than likely your lender will require you to have a homeowners insurance policy to protect their investment in case the home is destroyed by a fire, hurricane, tornado, or other natural disasters.
Depending on the type of policy and the amount of coverage you want for your home, there are several options. One of the basic homeowner’s insurance coverages is dwelling protection which means that the structure of your home, which includes the house’s foundation and walls, is protected by insurance. This may also include outbuildings and other structures, such as a garage or even a deck, toolshed, and barns.
Personal property protection is also an option and will cover your personal belongings if you are the victim of a fire or other disaster. You can even obtain extended coverage that will cover items such as jewelry, watches, and rare paintings in addition to your clothing and household goods.
You should also have liability protection which means if someone who does not live with you is injured while visiting you on your property, their medical bills will be covered if you are found to be at fault for their injuries.
The amount of coverage you obtain and the number of deductibles involved will be ultimately left up to you but it helps to enlist the assistance of an experienced home insurance agent. Your agent will help create a policy that will provide you with the peace of mind and comfort in knowing that one of the largest investments you will make in your lifetime is protected.
The insurance agents at Cordell Insurance in Baton Rouge, LA has the knowledge and experience to assist you with all of your home insurance needs. Call for an appointment today!
Auto insurance is an important product to carry to protect yourself from significant surprise financial expenses. At Cordell Insurance, we offer auto insurance policies to consumers in the Baton Rouge, LA area.
Unfortunately, a lot of consumers aren’t carrying adequate auto insurance coverage. This leaves them at risk of facing large expenses as the result of an automobile accident.
The following are three reasons your current auto insurance policy is insufficient. It’s in your best interest to purchase more coverage in these situations.
You only have liability coverage.
You should purchase collision coverage in addition to liability coverage. Liability coverage will only cover expenses that you cause to other individuals out on the road. Collision coverage will cover the costs of damage to your own vehicle.
Without collision coverage, you’ll have to pay out of pocket if your vehicle becomes damaged in an accident for which you are deemed at fault.
You don’t have uninsured and underinsured motorist coverage.
Unfortunately, there are many uninsured and underinsured motorists out on the road. If you get in an accident with one of these motorists, you will have to pay your own bill for any resulting damage to your own vehicle.
When you invest in uninsured and underinsured motorist coverage, you get added coverage for expenses resulting from another motorist not carrying adequate coverage.
You have only minimum liability coverage.
Legally, you’re only required to purchase enough liability coverage to reach state minimums. However, your liability expenses for a large accident could amount to much more than these state minimum requirements.
You should purchase more than the minimum requirement in your state. This will increase the financial security that your auto insurance policy provides.
You can learn more about our auto insurance policies in Baton Rouge, LA by contacting us at Cordell Insurance.
Boats can be you and your family’s metaphor for freedom on the water. A chance to connect to each other and to yourself without having to endure all the distractions you’ll find back on land. But for as many benefits as your boat can offer in Baton Rouge, LA, you may need to consider the safety side of the equation a little more to lower the risks of accident or injury.
Practice the Emergency Plan
Most boat owners have a vague idea of what they’ll do in an emergency, but that doesn’t mean that they’ll follow their own advice in the heat of a crisis. They may also have friends or family members on the boat who aren’t sure what to do either. Because water is a dangerous element on its own, you really can’t afford to lose any time. Cordell Insurance wants you to be sure of what you’re doing so everyone is confident.
Don’t Skimp on Safety Equipment
From life jackets to antitheft trackers, having the right equipment can make all the difference when you’re on a boat in Baton Rouge, LA. If you’re at a loss of what you need, it’s always better to have more than to forego a few items to avoid loading down the boat.
Have a Solid Boat Insurance Policy
If there’s a problem on your boat, you need to be able to fix it right away. Accidents may occur that lead boat owners to still use their boats even if they’re in subprime condition. If you want to learn more about how boat insurance protects you from potential disaster, Cordell Insurance can tell you more about what policies will cover and how you can use the benefits to your advantage. Give us a call today to find out more.
Your recreational vehicle, or RV, is not only a vacation on wheels for you and your family but it is a large investment that you have made and will want to protect. Whether you travel the country in your RV or live in it, you will want to ensure you have the coverage needed to replace or repair it if a disaster, accident, or theft occurs.
The state of Louisiana requires that you have liability insurance for vehicles that you own and drive on the roadways which include your RV. Your auto insurance liability policy should cover you while you are driving your RV but it will not cover damages your RV can incur due to an accident, vandalism, or disaster which is the reason you will want to have more coverage on your investment. An RV that is towed and not driven will not be covered under your liability policy at all so you will definitely want a policy that coverages repairs or replacement costs. If you live in your RV, you will need more coverage so that your personal belongings are also covered, much like a homeowner’s policy.
Liability coverage will not replace or repair your RV but will cover damage or injuries you cause in an accident with your RV. Uninsured and underinsured motorist coverage will ensure that if your RV is involved in an accident that is caused by someone without insurance or not enough, damages to your RV will be covered. which covers you for damage or injuries you cause with your RV. Comprehensive coverage will protect your RV even when it is parked from damages caused by vandalism, weather-related events, or a fire.
In Baton Rouge, LA, the agents at Cordell Insurance are experienced and ready to create the RV policy you need to protect your vacation on wheels for years to come.
Whether you are in Baton Rouge, LA or Boston, MA, umbrella insurance offers an extra safety blanket for your savings and assets in the event that you are sued for damages that exceed the limits of your liability insurance coverage for homeowners insurance, car insurance, and other coverage types. Cordell Insurance, conveniently located in Baton Rouge, wants to be your go-to stop for any umbrella insurance needs.
Does Everyone Need Umbrella Insurance?
Typically, umbrella insurance is purchased by individuals that own property, have significant assets, or participate in activities that increase their risk of being sued to include coaching youth sports, being a landlord or volunteering. At the end of the day, umbrella insurance provides extra liability coverage once the limits of the insurance policies that you already hold have been exhausted. Additionally, umbrella insurance covers incidents that typical insurance policies don’t include slander and libel.
How Does Umbrella Insurance Work?
Let’s say you are involved in an at-fault accident where you roll through a stop sign and hit another vehicle which leads to damage to the vehicle and also significant injuries to two of the occupants. If the total damage is $200,000, but your liability coverage is only $100,000 then umbrella insurance will kick in to cover the rest so that you don’t have to pay anything out of pocket.
Umbrella insurance is typically sold in bundles of $1 million and is relatively inexpensive for the amount of coverage offered. In order to purchase umbrella insurance you must already have auto or property insurance and have a minimum amount of coverage on these insurances before being eligible for an umbrella insurance policy. At Cordell Insurance in Baton Rouge, LA our friendly and professionally trained team is ready and willing to answer any of your questions.
Life insurance is like toothpaste. It comes in many varieties. The different kinds of insurance work best for certain purposes. To have the best coverage they can be combined as a package of protection designed to meet one’s life goals.
There is no need to try to attempt complex life insurance decision-making alone. Consult with an expert agent at Cordell Insurance, serving Baton Rouge, LA, and the surrounding areas, to learn more about the variety of life insurance products and the benefits they have for protecting you and your family.
Here are some basic life insurance choices and a brief description of what they represent:
Term Life Insurance
Term life insurance provides a death benefit for a certain period while the policy is in force. It does not build up any cash value. It is most useful for low-cost coverage to have peace of mind that protects your loved ones if something bad happens to you unexpectedly.
Permanent Life Insurance
Permanent life insurance is designed to last the entire life of a person. It can have a flat monthly premium that starts when young and the premium amount never changes over a person’s life, which makes it easy to pay for.
Whole Life Insurance
Whole life insurance builds up a cash value over time. Part of the premium pays for the death benefit and a portion is used as a cash value investment to create an asset that can be borrowed against in the future.
Universal Life Insurance
Universal life insurance has a cash value and also has investment characteristics because a policyholder gets to select whether it has a fixed interest rate or a variable interest rate and makes an allocation of the equities that will be invested in with a part of the premium funds.
There are many other options to consider that deserve an in-depth discussion with your agent at Cordell Insurance in Baton Rouge, LA. Contact us today to get a quote for all of your life insurance needs.
With so many vehicles on the road in and around Baton Rouge, LA, accidents are an unfortunately common occurrence. Cordell Insurance wanted to know: What are the main causes of accidents in Louisiana? We turned to Louisiana State University’s own research into transportation safety to find the answers. As of 2018, there were four major contributing factors to most car accidents: distraction, alcohol & drugs, and aggression.
Cell phone use is the largest source of distraction on the road. Over two thousand crashes in the state could be blamed on phone usage alone. But phones are not the only diversions drivers face on the road. Eating, preoccupation with passengers, and inattentiveness due to exhaustion can all contribute to distraction-related accidents. In fact, traffic accidents linked to distraction as a whole reached over 150 fatalities last year.
According to LSU, aggressive driving is characterized by excessive speeding, following too close, passing improperly, and general careless operation. While accidents involving aggressive driving violations have been on a decline recently, they still make up a large chunk of accidents in Louisiana. This includes almost 400 fatalities in 2018 alone.
Alcohol & Drugs
Of all confirmed accidents related to alcohol/DWI, 34% of those accidents resulted in a fatality. Alcohol-involved incidents involving drivers age 15-20 has been on a steady decrease since 2005. However, DWI’s involving drugs continue to be a strong risk factor for accidents, including a huge spike in fatal crashes where cannabinoids were involved.
With so many risk factors on the roads of Baton Rouge, LA, you need an auto insurance policy to protect yourself and your assets. Let Cordell Insurance find the right insurance to fit your individual needs today!