Condominium Insurance in Marrero LA

Condo insurance, often referred to as HO-6 coverage, is specifically tailored to financially protect the interior of a condominium unit, along with the owner’s personal belongings and liability. Unlike traditional homeowners insurance, which typically covers the entire structure, condo insurance focuses solely on the individual unit and what’s inside it.

How Does Condo Insurance Work?

Your condo association carries a master insurance policy that usually covers the building’s exterior, common areas such as hallways, elevators and lobbies, as well as shared amenities, including pools or gyms. A personal condo policy picks up where the master policy leaves off, covering what’s inside your unit and your personal liability.

What Does Condo Insurance Cover?

Condo insurance coverage can vary based on what each owner needs, but a standard HO-6 policy typically includes the following:

Dwelling coverage helps financially protect the interior of your unit, including walls, flooring, ceilings and built-in fixtures. If a covered event, such as a fire or theft, causes damage, this coverage can help with repair or replacement costs.

Personal property coverage is designed to safeguard your belongings, such as furniture, electronics, and clothing in the event of fire, theft or vandalism.

Liability coverage may provide financial aid if someone is injured in your unit or if you accidentally cause damage to someone else’s property. It may help cover legal fees and related costs.

Loss of use (additional living expenses) assists if your condo becomes unlivable due to a covered event. It may help pay for temporary housing, meals and other necessary expenses while repairs are made.

Is Condo Insurance Mandatory?

While Louisiana doesn’t legally require condo insurance, purchasing one is strongly recommended. If you’re financing your condo with a mortgage, your lender will likely require you to carry condo insurance. This helps protect their financial interest in the property and your own.

If you live in or around Marrero, Louisiana, our team at Boudreaux & Associates Insurance Agency, Inc. is ready to work with you to create a policy that fits your needs. Contact us today to get started.

Builders Risk Insurance

Builders risk insurance may help provide coverage for buildings under construction. This specialized coverage, also called course of construction insurance, can provide the backbone of your risk management program.

Who Needs Builders Risk Insurance?

Companies and individuals with a financial interest in a construction project often rely on builders risk insurance to help protect structures and buildings under construction. A builders risk policy may help financially protect materials and supplies, equipment in transit or on-site, and the structures being built.

Insured entities may include the following:

Lenders
Architects
Subcontractors
Property owners
General contractors

What Coverage Does Builders Risk Insurance Provide?

Builders risk coverage may help protect a construction project from specific types of property damage. It may also help cover certain expenses not directly related to the construction project when property damage causes delays, including the following:

Real estate taxes
Additional loan interest
Lost sales
Rental income

It’s crucial to consider the risks and exposures of your project at each phase of construction. Depending on your needs, your agent may recommend that you purchase broad protection, or they may customize your policy for specific risks.

Builders risk coverage is typically temporary, so your agent will help you understand when your coverage begins and ends. Your policy may provide coverage until one of the following:

The policy expires or is canceled.
The building is put to use.
The building is occupied.

Typical builders risk insurance policies may include exclusions for wear and tear, mechanical breakdowns, damage due to faulty design, and employee theft. Talk with your agent to understand exactly how your coverage works.

How to Find the Right Builders Risk Insurance Policy

Working with an experienced agent to find appropriate builders risk insurance is essential to get the coverage you need at a great rate.

Auto Insurance in Marrero, LA

Contact Boudreaux & Associates Insurance Agency Inc. in Marrero, Louisiana, for personalized auto insurance quotes.

Why Do I Need Auto Insurance?

Louisiana drivers must carry minimum auto liability insurance on their cars. Auto lenders and leasing companies may require more extensive coverage.

Auto insurance can help cover your financial responsibility for third-party injuries and property damage in an accident you cause up to the policy’s limits. If you choose comprehensive and collision insurance, it can also help pay to repair or replace your vehicle after a damage-causing accident or incident.

What Types of Auto Insurance Are Available in Louisiana?

Auto insurance can be tailored to meet your needs. Your options in Louisiana include the following:

Liability insurance is required, but you can purchase more than the state’s minimum requirement to provide appropriate financial protection.

Collision insurance may help cover damage to your vehicle after an accident with another vehicle or object.

Comprehensive insurance may help cover damage to your vehicle after a noncollision-related incident such as theft, vandalism, storm damage or a fire.

Medical payments coverage can help pay your accident-related medical bills after a covered accident.

Personal injury protection can offer expanded financial protection against accident-related injuries, including medical expenses and lost wages.

Contact Us

Contact Boudreaux & Associates Insurance Agency Inc. to start building your customized auto insurance plan.

Bonds

Bonds can benefit your business and help you build trust with your clients. In some circumstances, they may be required. If you need to purchase a bond, our agency can assist you in obtaining the right bonds for your business. Contact us today to get started.

What Are the Types of Bonds?

Businesses may need two common types of bonds: surety and fidelity. Surety bonds provide assurances that you will fulfill your contract or follow applicable regulations, while fidelity bonds insure against your workers’ dishonest acts.

Surety Bonds

Surety bonds are an agreement among three parties:

The principal is the party that buys the surety bond.
The obligee is a private or governmental party that requires the principal to secure a bond.
The surety is the entity that underwrites the surety bond, such as an insurance company.

The obligee may file a claim against the bond if a principal doesn’t adhere to the surety bond’s terms. Then, if the situation cannot be remedied with the principal, the surety may provide financial compensation to the obligee. If that occurs, the surety will typically seek reimbursement from the principal for that payment.

Fidelity Bonds

Fidelity bonds are a type of business insurance that may financially protect against specific dishonest acts. Two kinds of fidelity bonds include the following:

First-party fidelity bonds may cover acts of employee dishonesty (e.g., fraud, forgery or theft).
Third-party fidelity bonds may provide coverage for dishonest acts by individuals working for your business on a contract basis.

Contact Us Today

Boudreaux & Associates Insurance Agency, Inc. can help you get the bonds you need. Contact us for more information.

Commercial Auto Insurance

Businesses that use vehicles for work purposes require commercial auto insurance. Boudreaux & Associates Insurance Agency, Inc. can help your company get appropriate coverage at favorable rates. Contact us today for a personalized commercial auto insurance quote.

Why Do Businesses Need Commercial Auto Insurance?

Businesses need commercial auto insurance primarily to protect their financial stability in case of accidents or incidents involving company-owned or leased vehicles.

Many states, including Louisiana, require businesses with vehicles to carry minimum levels of liability insurance. Your agent can help determine whether it’s appropriate to purchase additional coverage.

Adequate insurance coverage can help mitigate the economic risks associated with vehicle-related accidents, lawsuits or unexpected events to help your company maintain financial stability and continuity.

What Types of Businesses Need Commercial Auto Insurance?

Commercial auto insurance is essential for businesses that use vehicles for work-related purposes, including delivery services, construction companies, landscaping firms, food trucks, transportation companies, trucking companies and any business that relies on transportation to operate.

Additionally, businesses that own or lease vehicles or utilize employee-owned vehicles for business activities also require specialized auto insurance to help protect against liability and damage costs associated with accidents or incidents occurring while on the job.

How to Get Commercial Auto Insurance in Louisiana

Contact Boudreaux & Associates Insurance Agency, Inc. to learn about your company’s commercial auto coverage options. Our agents can help you understand the various policies and endorsements you may need to help provide appropriate coverage.