How will you repair or replace your home, rental property or commercial building in the event of a fire, hurricane, tornado or other physical losses? The purpose of property insurance is to put you back in the same position you were before the loss. Assessing your risks and valuing your property is one of the most important things you can do to help minimize the financial impact of those losses. Where do you start? Not to worry, we can help you with that.
What if your risk is financial vs property? How do you protect your Balance Sheet or life savings? Liability insurance is the possibility of financial loss that a person or an organization sustains as the result of a claim by someone seeking damages or some other remedy permitted by law. To be able to identify, analyze, and properly handle an organization’s liability loss exposures, one must understand the concept of legal liability and the common sources of liability loss exposure. Where do you start? Not to worry, we can help you with that.
COMPULSORY & STATUTORY LIABILITY
Automobile falls under compulsory liability laws in most states. Workers Compensation insurance is statutory law in all but 5 states in the United States. That means individuals and businesses who own vehicles licensed for road use and/or as few as one employee are required by law to carry insurance or provide proof of financial responsibility. How do you know what you need? What issues should you be aware of? Not to worry, we can help with that.
A Surety bond is a written contract that expresses one party’s promise to answer for another party’s failure to do something as promised. Surety bonds are used to provide a wide rand of guarantees. Surety bonds can be Contract Bonds, License and Permit Bonds, Public Official Bonds, Court Bonds and Miscellaneous Bonds. Which one do you need? What information do I need to provide to get a bond? Confused? Not to worry, we can help with that.
Flood insurance protects real property owners from water damage to the structure and contents of their property. Because typical property insurance policies do not cover flooding, the occupant must purchase a separate policy or protection against flood. While flood insurance can be purchased through many different insurance companies, most policies are federally regulated so the same policy cost the same amount no matter which company it is purchased through. Are there gaps in your property coverage? Do you know if you are in a food zone? Do you know how much flood coverage you might need? Not to worry, we can help you with that.
For more information on any of the products, coverages or services above, do not hesitate to call one of our Producers or Account Managers at Thomson, Smith & Leach Insurance Group.
CONTACT US TO FIND OUT HOW WE CAN HELP
210 Rue Fontaine
Lafayette, LA 70508
315 Main Street
Franklin, LA 70538
809 W. Summers Dr.
Abbeville, LA 70510