Umbrella Insurance – A General Overview For Louisiana Residents

Baton Rouge, LA Home of Cordell Insurance

Umbrella insurance is an insurance product that comes in handy just in the nick of time much like a real-life umbrella is used for rain. It’s great to have. Even though you wouldn’t mind if you never used it.

Umbrella insurance companies generally is an extension of an existing policy that covers amounts that exceed a standard insurance policy limit.  Because we get a lot of rain and hurricanes in this area having added umbrella insurance as an extension of your home insurance may be a great idea. If you suffer tremendous loss as a result of any event, umbrella insurance will open up just like a huge and colorful umbrella to make that rainy day just that much sunnier.

If there were a hurricane and there was damage suffered as a result, the umbrella insurance policy would pay over what your standard insurance policy would pay. If the damage was the result of some other weather factor aside from a flood, it would cover the loss. Umbrella insurance by definition covers just about anything that can happen. Speak with an agent today to find out If this is something you should add to your insurance products.

Umbrella insurance can be added to other types of insurance products as well. Personal insurance, as well as commercial insurance products, have standard limits that are set. An umbrella policy can help cover liability that may be incurred. The goal is to protect your personal assets. An agent will be able to tell you where it would be used most effectively.  

Located in Baton Rouge, LA. Call us at Cordell Insurance – 225-767-8840.  Serving the greater Baton Rouge area we can use our decades of experience to help you have a great experience with your insurance company.

Flooding and Water Damage

Flooding can be a serious issue in Baton Rouge, LA., especially during hurricane season. From heavy rainfall to overflowing riverbeds, this area is susceptible to flooding. 

The results of a flood can be devastating. Water does a lot of damage. It enters every crack and crevice and creates a big, soppy mess. The result of a flood is often ruined flooring, destroyed furniture, structural damage, and other water damage. Besides your valuables, you may also lose sentimental belongings, such as family photos, awards, or something passed down along the generations. Unfortunately, water restoration services are expensive and without a flood insurance policy in place, you’ll be left to clean up the wreckage out of your own pocket. 

If you experience flooding, you’ll need to act fast. The longer you wait, the more damage the water will do. It’s recommended to have a cleanup crew at the location within 24 hours because standing water is a breeding ground for bacteria, pathogens, and mold. In just 24 hours after a flood, toxic mold can begin to grow, putting you and your entire family at risk. 

Get a Flood Insurance Policy

When you have flood insurance in Baton Rouge, LA, you will have peace of mind knowing that if something were to happen – whether a hurricane or tropical storm strikes and flooding occurs – you are protected. At Cordell Insurance, our friendly agents will help you find the right flood insurance policy and help you save money, too. We’ll look at the amount of flood insurance you need, compare quotes, and talk about bundling all of your insurance policies under one company to save you money on your premiums. To reach a team member at Cordell Insurance, call us today at 225-767-8840.

5 Reasons to Buy Life Insurance Now

.When you’re young, life seems like a neverending adventure. However, accidents and misfortune aren’t limited to the well established. Here are some important reasons why young people need life insurance policies too.

  • You own a business. Life insurance isn’t just for your dependents. If you aren’t able to fulfill your business obligations, your partners suffer too. A business life insurance policy ensures your colleagues can continue operations if you aren’t able to work. These policies can also be instrumental in convincing investors to see you as an acceptable risk.
  • You’re married. Even without minor dependents, your family relies on your financial support. Make sure your spouse can handle all of your joint obligations by providing them with a sufficient life insurance policy.
  • You like high-adrenaline sports. Snowboarding, racing, and other dangerous sports make it more likely that you’ll end up in a catastrophic accident. With a life insurance policy, you won’t have to worry about leaving behind big medical bills for others.
  • You travel frequently. Life insurance payouts can be used for funeral services too. If you get in an accident while you’re overseas, those funds can be used to help transport your remains back home for a proper burial.
  • You have goals. What do you want from your life? A whole life insurance policy provides a cash reserve that can be used to fund your dreams. Over time, your policy could accumulate enough cash value to help you buy a home, pay for your education, or fund an epic trip around the world.

Life insurance is a vital part of any long-term financial plan. Talk to the experts at Cordell Insurance in the Baton Rouge, LA area for more information on protecting yourself and your loved ones with insurance coverage.

The Facts About Boat Insurance

Going to take the boat out this weekend? Feel safe and secure once you have boat insurance. You will be able to take the boat out whenever it is convenient when you’re covered. The Cordell Insurance independent insurance agents in Baton Rouge, LA are available to help you secure your future with boat insurance.

What is Boat Insurance?

Boat insurance gives you coverage if anything were to happen to your boat. Most personal watercraft are included under boat insurance. These crafts include fishing boats, kayaks, pontoons, yachts, and paddle boats. Depending on your type of coverage, your homeowner’s insurance offers a limited amount of coverage for your watercraft.

Types of Boat Insurance Coverage

  • Property damage liability – if you cause any type of damage to someone’s property, such as their dock or boat.
  • Bodily injury liability – if you cause injury to someone’s body resulting in financial costs. For example, a person receives medical attention because of your negligence, their medical bills would be covered under this policy.
  • Collision – covers the cost for repairs or replacement of your boat if it is in an accident.
  • Comprehensive coverage – if your boat is damaged not caused by a collision, such as vandalism or theft.

Options for Additional Coverage

You can add other forms of insurance to your boating policy. Additional coverage could include but is not limited to personal property, roadside assistance, fishing equipment, and medical payments. You can also add uninsured or underinsured boaters insurance in case you are in an accident with someone who has no insurance or not enough insurance.

Stop by your local independent insurance agents in Baton Rouge, LA at Cordell Insurance to get information about boat insurance. You can also ask about home, auto, and life insurance while you’re there.

Making the Most of RV Ownership

Owning an RV is very different from simply owning a vehicle. This means that the insurance for an RV is very different too. To make the most of your RV ownership, it is important to make sure that your RV is well protected. Here are a few tips that will help you make the most of your RV. 

RV Insurance

In order to get the most enjoyment out of your RV, you will want to be well insured. RV insurance can vary greatly from that of auto insurance, and it also varies from home insurance. Even if your RV is your home, you will want to thoroughly research your insurance options. Deciding which type of insurance you need, will depend on which type of RV you have. 

Motorhomes

Motorhomes, which are RVs you actually drive, are required to have at least your state’s minimum auto liability coverage. However, it is always a good idea to have full coverage in order to protect your investment and to protect your own financial security in the event that you also are injured in an accident.  Although it might be possible in your state to drive your motorhome with just an auto policy, you should consider that while you are driving your RV you will likely have belongings with you. Auto insurance will not cover these items in the event of a loss. RV insurance, however, will.

Full Time vs Part Time

The next thing you should consider is how often you use the RV. If your RV is your home, then you will definitely want full-time coverage. This will cover you all year long. However, if you only need coverage for part of the year, then you will want to go with part-time coverage. This type of policy will not be as expensive but still provides what you need. 
If you would like to learn more about RV insurance, please call our friendly staff at Cordell Insurance in Baton Rouge, LA. 

Why every Baton Rouge, LA business needs umbrella insurance

No matter how big or small your business may be, it is important that you have a comprehensive umbrella policy in order to protect your interests. Commercial insurance offers the protection that you need in the event that your business suffers a loss that affects your cash flow or your ability to continue serving the needs of your customers or clients. With your base policy, you may still be vulnerable to financial responsibility in the event that your claim exceeds the maximum coverage amount of your primary policy.

The team at Cordell Insurance is proud to serve the insurance needs of the Baton Rouge, LA area business community and ensure that their business and commercial clients have appropriate protection.

3 Top Reasons to Secure Umbrella Insurance for your Company

  • Policy limits – every insurance policy has upward limits to the amount of coverage that they will provide. It is highly likely that your business assets may exceed these limits. When you consider coverage for business interruption or damage or loss to your inventory and equipment, the $250,000 average limit can be reached quite easily.
  • Increased liability coverage – a significant liability case against your business could mean financial ruin for both your business and your personal portfolio. With a supplemental umbrella policy, you can have coverage that provides adequate in the event of an accident or incident.
  • Peace of mind – owning a business is stressful enough without worrying about exceeding your coverage limits. A comprehensive umbrella policy gives you the comfort you need.

Interested in learning more about how a comprehensive umbrella insurance policy can help protect your Baton Rouge, LA area business? Call or stop by Cordell Insurance and our professional agents can review the available umbrella policy options with you.

Is Flood Insurance Required in Louisiana?

There is a rumor that those living in Louisiana can bypass flood insurance and rely on their home indemnity policy alone to get them through the challenges that inclement weather brings. Such a notion is nothing short of a fallacy.

Flood Insurance Is A Necessity

There is no official state law that requires all individuals living in Louisiana to obtain flood insurance. Congress, however, has mandated that all lenders with mortgaged properties in high-risk areas require borrowers of said homes and commercial spaces to obtain flood insurance policies. Baton Rouge, LA is definitely a high-risk area, thanks to Hurricane Katrina and other storms that ravaged the city in past times.

Homeowner’s Insurance Is Not Enough

The average person, unfortunately, believes that their home indemnity plan is enough to keep them covered in a storm that leads to flooding. The reality, however, is that a standard home insurance plan does not pay for damages caused by flooding or any other natural disaster. You may find yourself out of thousands if your home suffers flood damage while you lack the proper indemnity plan.

How Much Does Flood Insurance Cost?

You can pay as little as $200 per year for flood insurance or as much as $1,000 annually for a plan. The amount of your premium mainly depends on the probability of your home falling prey to a flood as well as your desired level of protection. An agent from Cordell Insurance can help you find a policy that best suits your needs and budget.

There are times when taking risks is a good thing. Such is not the case when it comes to flood insurance. You need a plan that fits your lifestyle in Baton Rouge, LA. An agent from Cordell Insurance can help. 

Overlooked Benefits of Life Insurance

Life insurance is an important type of insurance among the full range of insurance that a high percentage of people have. And although many people know at least the basics of what their life insurance provides, they may be overlooking some key benefits that could be helpful. With that in mind, here are some of the most important yet overlooked benefits of life insurance. This information is being brought to you by Cordell Insurance serving the Baton Rouge, LA area.

One overlooked benefit is a waiver of premium, and as its name implies, it pays for the policy’s premium if the policyholder becomes disabled or has serious health problems.

A benefit for employee assistance programs helps with services pertaining to substance abuse, marital problems, stress, and other challenges.

Another great benefit is guaranteed purchase option, which allows the policyholder to pay for future coverage without having to prove anything about their state of health. This would be relevant if the policyholder anticipates wanting to purchase coverage on a particular future date or as a result of a certain life event.

Long-term care benefit allows the policyholder to use benefits from the life insurance policy to pay for long-term care but in exchange for a decreased life benefit.

Dependent child or spouse benefit allows the policyholder to buy term life insurance for his or her spouse or dependent child if that child is 26 years old or younger.

Mortgage protection benefit pays for the life insurance policy premiums if the policyholder dies, but that benefit usually just exists on term life insurance policies.

There are many more details to know about life insurance benefits. So feel free to contact Cordell Insurance serving the Baton Rouge, LA area and get a more comprehensive look at benefits and details.

Flood Insurance and Clean Up Costs

Flood insurance is something that is not automatically included on all policies but that is included on some specialty policies that are taken out just for that purpose. Flood insurance covers a wide range of things including but not limited to the costs that are associated with the clean up of flood waters, mold and other debris removal after the flood water recedes. For those in the Baton Rouge, LA area, the agents with Cordell Insurance can help you to find the perfect policy for your needs.

The right flood policy is going to be able to help you pay for the cost of clean up after the flood waters have receded. Clean up costs can be anything from removal of water, removing drywall and replacing it, removing flooring, removing debris, and even mold mitigation after the water has fully receded and you are trying to live in your home again. This type of service is essential as the biggest issue and the biggest expense associated with flooding is often the cost of clean up after the waters have receded and you are looking to return to your home to live.

Flood insurance is something that is not necessary in all areas but in a city like Baton Rouge where flooding is terribly common, having a great flood policy in place can save you tons of money and can help you get back into your home faster. Flood insurance can be pricy but replacing your entire home after a flood is far more expensive. For those that live in the Baton Rouge, LA are, the agents with Cordell Insurance can help you to create the perfect policy that is going to meet your needs and work for your particular home and insurance needs no matter what.  

Leaving a Legacy for the Children

Life insurance is a critical component of financial and estate planning, for those that want to leave a legacy for their surviving spouse and/or children. Death may come suddenly when not expected. Good financial and estate planning prepares for this unfortunate possibility well in advance.

Changing Needs for Life Insurance

The need for life insurance changes over the course of a person’s life. When younger, a person may choose a whole life insurance plan that builds up cash value over time. Or they may choose lower-cost term life insurance that does not build up cash value. Having a discussion about plans, life goals, and the need to take care of others, if you are no longer alive, is an important thing to do with your insurance agent at Cordell Insurance in Baton Rouge, LA.

Some people feel uncomfortable about contemplating their own demise. However, life insurance is meant to protect those left behind and gives the insured person great peace of mind when an adequate life insurance policy is in place. It is comforting to know that the kids and a significant other will have enough financial resources to continue on without suffering if something bad happens. This helps one feel confident and be without worry.

How much life insurance do you need?

The amount of life insurance needed depends on the current lifestyle and the number of years desired for financial support. For example, some calculate the number of funds needed to pay for the living expenses at the current lifestyle for the kids until they reach the age of 18 and then add the cost of them attending a college or a university. That is the amount that will take them to adulthood, which is the time that they should be able to take care of themselves.

Others who do not have children calculate the life expectancy of a surviving spouse and use this figure to make the estimate of the life insurance requirements to cover that period of time while providing enough funds for living expenses to sustain the current lifestyle.

Each person’s situation is slightly different. The best thing to do is to contact your agent at Cordell Insurance, serving Baton Rouge, LA, and the surrounding area, to discuss your personal circumstances.