Why Umbrella Insurance is Especially Crucial in Baton Rouge, LA

Umbrella insurance policies are supplemental insurance policies that can provide increased protection from damages and liabilities. Given how much additional protection they provide, these plans are often very flexible and valuable. With Louisiana among the most litigious states in the country, obtaining additional insurance protection is wise. Live near Baton Rouge, LA? Discuss umbrella coverage options with Cordell Insurance.

Rain or Shine Umbrella Insurance is There For You

Many insurance policies have limits. For example, a home insurance policy might have a maximum upper value of $500,000. If that home is worth a million dollars and is destroyed in severe weather, the insurance policy may not provide full coverage. Reading the fine print is essential, but umbrella insurance may cover the gap. Given the local weather and other risk factors, it’s wise to take out increased insurance coverage in Louisiana, particularly in Baton Rouge.

Some umbrella insurance policies will cover events that take place off personal property. Of course, discuss what’s covered with your insurance agent. However, umbrella insurance policies may cover some or all damages if a family member causes an accident at school or the mall. Given Louisiana’s complicated legal system, umbrella insurance is critical regarding liabilities.

Umbrella insurance is often quite affordable, especially considering how many benefits it provides. Simply having more peace of mind could prove to be invaluable. With all that said, remember that insurance policies can vary substantially. This is true with basic insurance, including homeowners and automobile insurance.

With supplemental insurance, coverage can vary even more widely. This is due, in part, to the fact that umbrella insurance is used to address specific needs and concerns, which in turn can vary a lot from person to person.

Reside near Baton Rouge, LA? Stop by Cordell Insurance.

Things to Consider Before Purchasing Life Insurance

Purchasing life insurance is an important decision that can significantly impact your financial future and your family. Life insurance provides peace of mind, knowing that if something were to happen to you, your family would be taken care of financially. Cordell Insurance serving Baton Rouge, LA, and the surrounding areas, can help you make an informed decision about your life insurance needs. Here are some things to consider before purchasing life insurance. 

Determine Your Coverage Needs

How much life insurance coverage you need depends on your individual needs and goals. Consider factors such as your current income, future earnings potential, debts, and other financial obligations that may need to be covered. It would be best to consider the lifestyle you plan on providing for your family and their future needs, such as college tuition.

Choose an Appropriate Policy

Your specific needs and goals should determine which type of life insurance policy is best for you. Several policies are available, including term life, whole life, and universal life. Each has its advantages and disadvantages, so it is vital to research and speak with a professional before making a final decision.

Understand Policy Terms and Conditions

Before purchasing a policy, it is essential to understand all terms and conditions of your life insurance policy. Read through the policy and ask questions about anything you may not understand. Be sure to research any riders included in the policy, as these can affect future costs or benefits of your policy.

Evaluate the Future of the Insurance Company

You want to make sure that the insurance company you choose is financially stable and will be around in the future when you need it. Research their financial strength ratings from independent agencies such as Standard & Poor’s to ensure they are reliable.

Secure Your Family’s Future With Life Insurance

Life insurance is one of the best ways to protect your family’s financial future. Working with a trusted professional, such as those at Cordell Insurance, serving Baton Rouge, LA, can help you make this critical decision. We help you assess your life insurance needs and find the right policy. Contact us today to learn more about our services.

Four Add-ons to Consider for Your Boat Insurance

Nothing is as exciting as boating, especially on a sunny, calm day. While boating is fun, you have to remember it can be risky. However, this shouldn’t alarm you because you can buy boat insurance to protect you and your vessel when the unexpected occurs.

Basic boat insurance compensates you when your boat is stolen or damaged. It also protects you when liability claims knock on your door. But is basic boat insurance enough? Cordell Insurance urges boaters to consider the “add-ons” below to boost their basic boat insurance.

About Umbrella Insurance

This liability insurance protects you when the underlying policy runs out. For instance, if you cause a significant boating accident, third parties may accuse you of bodily injury and property damage that may exceed your boat liability insurance. In such instances, umbrella insurance can save the day by taking over where your boat insurance leaves off.

Personal effects coverage

Did you know basic boat insurance doesn’t cover your personal belongings when stolen or damaged in your vessel? Now that you know this, please consider purchasing an add-on to cover your fishing gear, laptops, cameras, and other valuables inside your boat.

Emergency assistance

Like cars, your boat can break down when you least expect it. This can happen when miles away from the shore, and getting help from friends and relatives with little know-how of handling boat breakdowns can be frustrating. Instead of all this trouble, invest in towing add-on to get help whenever you get stuck on your boat.

Special equipment coverage

Items like GPS navigation aids may not be covered by standard boat insurance. As such, have them insured separately to ensure you don’t incur out-of-pocket expenses when mishaps occur.

Boat insurance in Baton Rouge, LA 

Want to protect your boat with watercraft insurance? Don’t hesitate to get in touch with Cordell Insurance. We offer comprehensive yet affordable boat insurance to protect your boat, whether inside or outside the waters.

Three reasons why it may be time to increase your RV policy’s liability protection

Cordell Insurance has the information Baton Rouge, LA area RV owners need to choose the proper insurance protection. If it’s time to review your policy or you’re just considering purchasing an RV, we can help with any questions. Give us a call today!

Three reasons to increase your RV policy’s liability protection

If you haven’t reviewed your RV policy in a while, now is a perfect time to do so. Liability protection is more critical than ever, and it’s vital to have the appropriate amount of protection. Many RV policies can provide increased liability protection. Why not take a look now to make sure yours does too?

  1. Guests and visitors – If something happens when someone is visiting you or staying in your RV, you could be held responsible for any injuries they sustain. 
  2. On-road collisions – RVs are big vehicles and can cause significant damage to people and property. Make sure you have liability protection before heading out on the road. 
  3. Mishaps while parked – If someone were to be injured by an accident that occurs while your RV is parked, it is possible that you could have some amount of liability. With the right insurance policy, you can ensure adequate protection.

Give us a call today!

Baton Rouge, LA residents can rely on Cordell Insurance for all their insurance needs. Owning an RV provides a lot of enjoyment but also requires a lot of responsibility. If you have questions about your RV insurance, we are here to help. Our friendly and knowledgeable team looks forward to working with you. Call or stop by today!

Should I Buy an Umbrella Policy if I Don’t Have a Lot of Assets?

When it comes to insurance, Baton Rouge, LA residents have a lot of choices. Cordell Insurance is one of the providers in the area, and they can help you find the right coverage for your needs. But what if you don’t have a lot of assets? Is an umbrella policy still worth it? The answer may surprise you.

What Is an Umbrella Policy?

An umbrella policy is an insurance policy that provides additional liability coverage. It provides coverage beyond the limits of your homeowners, auto, or watercraft insurance policies. It significantly increases your liability protection beyond the coverage you have on your base home, auto, or boat policy.

While an underlying homeowner, auto, or boat policy covers damages for which you’re held liable up to that policy’s limit, some risky activities are excluded from coverage. If you engage in these activities — such as racing your car — and are sued for damages that exceed the limits of your underlying policy, you could be responsible for paying any judgments against you out of your pocket.

An umbrella policy can provide additional protection in these situations. Umbrella insurance also covers lawsuits unrelated to bodily injury or property damage, such as defamation or slander.

Do I Need an Umbrella Policy If I Don’t Have a Lot of Assets?

You might think you don’t need an umbrella policy if you don’t have a lot of assets. But even if you don’t have much, you could still be sued for more than you have. If you are liable for someone else’s injuries or damage to their property, they may sue you for more than the coverage limits in your underlying policy.

If you are sued and don’t have enough insurance to cover the judgment, the plaintiff may try to collect from your assets. This could include going after your savings, investments, or even your wages. An umbrella policy can provide protection in these situations.

If you’re considering whether or not to purchase an umbrella policy, Baton Rouge, LA residents can contact Cordell Insurance for more information. We can help you determine if this coverage is right for you.

How Does The NFIP Work?

The National Flood Insurance Program is the source of flood insurance in the United States. If you have a mortgage and live in a flood zone, you need flood insurance to protect your home. 

If you have ever tried to obtain flood insurance from a private insurance company, you know it is difficult and expensive. Many insurance companies don’t offer flood insurance. For aid in Baton Rouge, LA, talk to the team in Cordell Insurance.

What Else to Know

Flood-prone areas are unevenly distributed across the US. Most coastal areas, for instance, are situated in flood-prone areas. Hence, flood insurance in the U.S. is mandatory for any property owner who purchases a home or building in the said areas. 

Insurance carriers in the National Flood Insurance Program (NFIP) are also policymakers since it’s a mutual insurance. It provides affordable flood insurance to property owners in flood-prone areas. It was created in the late 1970s after severe floods caused massive damage in a few U.S. cities. 

Through the program, the government pays for about 80% of the cost of the coverage, and the policyholder caters for the remaining 20%. The NFIP offers flood coverage to businesses, renters, and property owners. The coverage aids them in recovering faster after floodwaters recede. The NFIP works with flood-prone areas to implement management laws that assist or help in associated consequences. 

Parting Shot 

People living in any of the 23,000 municipalities that are part of the NFIP are eligible for flood insurance. Agents, policyholders, and other service providers can help you navigate the flood insurance procedure before, during, and after a catastrophe. 

That’s with the support of a wide variety of books, videos, visuals, and online resources made available by the NFIP. Downloadable digital resources are available, and select print publications can be obtained at no cost upon request. Confer with Cordell Insurance in Baton Rouge, LA for professional assistance!

This is Why You Should Invest in Life Insurance

Do you have a life insurance policy? If not, you are missing out on the benefits of life insurance. This coverage cushions you financially and helps you meet several life goals even when you die. If you haven’t bought a life insurance policy from Cordell Insurance in Baton Rouge, LA, here are the reasons to consider this coverage ASAP:

To protect your loved ones

If you have children, siblings, or a spouse depending on your income, imagine how they would survive if you died. Paying for daily expenses, college fees, mortgage, and other obligations can be difficult. Invest in a life insurance policy to protect your loved ones. This coverage supplements your income when you die.

To pay for your loans.

If you have a car loan or mortgage, you need to have a backup plan for how the debt will be paid if you die. Buying a term life insurance policy for the loan duration is an excellent choice. This way, you can be assured that your cosigners and loved ones won’t be burdened by the debts you leave behind.

To protect your business.

You should invest in life insurance if you have a business for several reasons. First, your life insurance proceeds can be used to pay the company loans. Secondly, life insurance cushions your partners financially by covering the “financial gap” you have left behind. While life insurance doesn’t replace you, it buys your business partners time as they think about the next course of action.

To pay for your final expenses.

Organizing a funeral can be expensive in America. A modest funeral can set you back at $7,000, which can take a financial toll on your loved ones even as they mourn your death. Invest in a life insurance policy to take care of your final expenses.

Want to invest in a life insurance policy in Baton Rouge, LA? Please get in touch with Cordell Insurance.

Do I Need Boat Insurance All Year Through?

When it’s summer, and the weather is warm and cozy, it’s the perfect time to get your boat in the water. And this time, you are always up-to-date with your insurance policy because you need to enjoy a worry-free time in the water. Unfortunately, most boat owners cancel their policy when it’s winter, only to reactivate it when summer beckons.

Do you think this is a wise move? As you will find out from Cordell Insurance of Baton Rouge, LA, canceling your boat during the off-season puts your prized asset in jeopardy. Here are the reasons you should maintain your boat insurance all year through.

Risks don’t have an offseason

Yes, you may not be active in the water, but that doesn’t mean your boat is off the hook when it comes to risks. You may have parked your boat in your garage, but perils like falling objects, theft, fire, and natural disasters can still strike.

Given that risks don’t have an off-season, you shouldn’t think about canceling your policy at any point in the year.

Lender requirements

If a lender finances your boat, you may have to carry boat insurance throughout the year. Your lender understands that risks don’t have an offseason, and that is why they will insist you carry boat insurance all year through until you pay off your outstanding loan.

It’s cost-effective

When the temperatures are winding down, you may want to put your boat in dockage or storage. Terminating your boat insurance might seem like the next logical decision. If you think of canceling your boat insurance, don’t because it will cost you more. How? When your boat is stolen or damaged while parked, the repairs or replacement will cost you more than the premium you are trying to save.

Looking for boat insurance in Baton Rouge, LA? Contact Cordell Insurance, and we will help you find the right boat insurance coverage to protect you and your boat.

Why do people in Baton Rouge need RV insurance?

Those that live in the Baton Rouge, LA area will always want to know that they have a safe and efficient way to explore the area. A great way that this can be done is by getting an RV, which offers the chance to drive and sleep in the same vehicle. Along with your RV, you will also need to choose a new insurance plan for several reasons. 

Coverage Needed to Protect Vehicle

One of the reasons that you should have insurance for your RV in this area of the state is that it is a great way to protect your vehicle. Purchasing an RV requires a significant investment and having RV insurance can protect it. When you get this coverage, it will provide you with the support needed to replace or repair your RV following any type of accident or if it is stolen.

Comply with Requirements

You should also get an RV insurance plan to comply with any requirements that you have. Those that want to drive a vehicle in Louisiana will need to carry liability protection insurance at all times, which will offer support if you are at fault in an accident. You also will need to carry coverage if you have taken a loan out against the RV. Most lenders will require a full collision and comprehensive plan. 

Those that are in the Baton Rouge, LA area will want to ensure that they have adequate insurance support for their RV. Due to the importance of this type of coverage, it is always a good idea to speak with a professional before choosing a new plan. The team with Cordell Insurance can always help you build a plan that will meet your needs. Cordell Insurance will help you assess your situation and give you personalized guidance to ensure you choose a plan that is ideal for your situation. 

What Is Umbrella Insurance and How Does It Work?

Insurance plans are designed to protect you from certain risks, especially scenarios in which you are held liable for damages. Of course, insurance policies will only cover the expenses you have endured up to a certain amount. More often than not, this leaves you paying out of your own pocket. Cordell Insurance wants to share information about umbrella insurance with Baton Rouge, LA residents.

What Is Umbrella Insurance?

An umbrella insurance policy is often referred to as a personal liability insurance plan. Umbrella insurance is designed to cover expenses that come up in the event you are held responsible for damage that takes place on your property or because of your property, which includes your home, your car, your boat, your RV, or any other object that is insured and covered. 

There are numerous incidents that umbrella insurance covers, including recovery costs for a victim who your dog bites and legal costs associated with legal action someone takes against you after injuring themselves at your home. 

How Does Umbrella Insurance work?

Essentially, you should view umbrella insurance as gap insurance. So, let’s say the liability limit on your home insurance is $350,000 and someone gets injured during a get-together held at your home. This injured individual could sue you for their medical expenses and lost wages. Depending on the situation, these expenses could very well exceed $350,000. As soon as the costs reach the limit of your home insurance policy, an umbrella policy will kick in and cover the expenses. 

Everyone does not need to invest in an umbrella insurance policy, but there are numerous advantages to having one. For more information, contact Cordell Insurance, your local insurance company serving the Baton Rouge, LA area.