Who needs umbrella insurance in Baton Rouge, LA?

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:

Wealthy households

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.

Big families

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

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.

Businesses owners

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!

4 Reasons Flood Insurance Is Ideal in Louisiana

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.

How do I choose a life insurance policy in Baton Rouge?

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. 

3 Ways to Protect Yourself on a Boat

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. 

Do you need RV insurance?

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.

Understanding Umbrella Insurance

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. 

Is There More Than One Kind Of Life Insurance?

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.

Summary

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.

Boat Ownership: A Simpler Approach For Insurance Planning

Boat ownership can be such a nice way to enjoy the waters with others.  The crystal blue waters with amazing scenic views are incredible to see and those who enjoy boat outings can appreciate this type of recreation.  Preparing to own a boat can be a simple process if you know some of the tips involved.  Serving the Baton Rouge, LA area, Cordell Insurance is experienced helping owners with boat insurance.  The friendly staff is known for good quality service and can show you a simpler approach for insurance planning.

Loading the boat from the waters gets easier and knowing how to pack everything in the storage areas is one consideration.  When considering the boat purchase, you might check out the storage areas and make sure there is adequate room for keeping your water sports gear, food, safety equipment, and any other items you may choose to take with you.  Depending on the amount of time out on the waters, you could understand how much food to take and the best ways to plan for your trip.  Other items such as towels are good to organize for the boat outing.

Be sure to call Cordell Insurance for your boat insurance needs or check the company’s website for more information.  The staff is available to answer your questions.  A good insurance company serving the Baton Rouge, LA area can simplify the process and make planning easier for owning a boat.  Planning ahead can make it easier to prepare for the trip and clean up following your recreation outing.  Boat ownership is just a few steps away with a simpler approach for insurance planning and enjoying outdoor recreation can be a nice way to be thankful for the beauty of the locations you choose.

 

Tips for RV Traveling Alone

If you have finally made the decision to solo travel, congratulations! Your trip will be an adventure and it’s a great time to meet new people and experience new places outside of Baton Rouge, LA. There are actually more solo RVer’s than many people realize, so if you’ve been hesitant about traveling by RV alone-don’t let the fear prevent you from living the dream. One of the main concerns many people have about traveling alone is safety, so to help put your mind at ease, here are a few tops to ensure your safety when traveling alone.

Research the RV Lifestyle

If you’ve never traveled by RV, either solo or with others, it’s important to understand the RV lifestyle. For instance, you’ll need to know how to pack for your trip, where the best campgrounds are and most importantly how to drive and park your RV. There is tons of information available online for solo RV travelers, so spend some time researching the RV lifestyle.

Have a Reliable RV

There is nothing that is going to ruin your trip quicker than a broken-down RV, so plan ahead. Be sure to take the RV in for service a few days before you’re scheduled to leave. While at the service center, talk with the mechanic about how to check the fluids, the air pressure in the tires and what noises to be on the alert for that may indicate a problem with the motor.

Stay Safe

You will meet a lot of people while on your travels, but it is important to use caution when traveling alone. Do not hesitate to talk to people, but be careful about what information you provide. For instance, don’t advertise that you are traveling alone, lock your doors and windows at night and trust your instincts.

Before you hit the road don’t forget to contact Cordell Insurance to make sure all of your insurance policies are up to date. Be sure to make photocopies of your driver’s license, insurance policies, and your itinerary to leave with a family member or friend while you’re away.

Residents of Baton Rouge, LA interested in learning more information about insurance policies for their RV should contact Cordell Insurance.

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.