There’s no place like Louisiana. Folks here are as distinctive in personality as they are in tradition and skillset. We know how to weather hurricanes, rebuild after floods, and still throw a great party – as proven by recent holidays. In Louisiana, we value the people in our community, and we always look out for each other. So, supporting local businesses is a big part of our culture because it strengthens families and the people we care about.
At Henry Insurance, we understand that Louisiana’s unique spirit of resilience comes from planning ahead and standing together with trusted partners who are as invested in our communities as we are. As 2025 begins, let’s insure that your Louisiana-based business is protected and ready for the challenges and opportunities that await us in the new year.
New Year, Same Natural Disaster Threats: Update General Liability Coverage
Living on the Gulf Coast means accepting the risks that come with the territory. Whether you work in Baton Rouge or New Orleans, you know that no part of our state is exempt from natural disasters like hurricanes, flooding, and other severe weather events. Proper insurance isn’t just a precaution – it’s a lifeline.
In 2021, Hurricane Ida caused widespread wind and water damage. In 2020, Lake Charles businesses also experienced catastrophic wind damage, wreaking havoc on local residents and their businesses. And, in 2016, the historic Baton Rouge flood caused over 8 billion dollars in damages, leaving many individuals and businesses to shoulder rebuild costs themselves.
Proper coverage makes all the difference when you’re facing lost revenue, operational costs, and expensive repairs. But without protection, natural disasters can devastate your business. Now is a great time to review your property coverage and flood insurance policy to ensure they’re up to date.
Property Insurance covers physical assets like buildings, equipment, and inventory, including damage from windstorms during hurricane season. It’s a common misconception to assume property insurance includes flood coverage – it does not. Review your coverage limit to ensure your property insurance covers the replacement value of your assets.
Flood Insurance is a separate policy needed to protect against flood damage and will vary based on flood risk in the FEMA flood maps. Be sure to check if your flood risk has changed and update policies accordingly.
Pro Tip: Understand your Hurricane Deductible – Many policies in Louisiana include percentage-based windstorm deductibles, which can vary widely. Know what you’re responsible for as you financially plan for the new year.
Planning for Growth: Shifting Economic Trends and Coverage Needs
Industry in Louisiana is as varied as our weather. From energy to construction to hospitality, our economy is evolving, and businesses must adapt to changing requirements and challenges. Maintaining proper compliance with state-specific regulations like workers’ compensation is crucial to protecting both your employees and your operations.
Workers’ Compensation Insurance is required for most businesses to cover employee injuries or illnesses on the job. Failing to carry workers’ comp can lead to hefty legal fees or even suspension of business. Staying compliant not only protects your business and employees, but it provides peace of mind.
Pro Tip: Some business owners mistakenly believe that independent contractors don’t require coverage. But, this is not always the case. Some agricultural and domestic employees may be exempt, but high-risk industries like construction uphold more stringent standards.
Compliance isn’t just about avoiding penalties—it’s about building trust and stability for your business and community. Need help navigating? Partner with a local provider like Henry Insurance to navigate state-specific compliance.
Commercial Auto Insurance: Keep Your Business on the Road
Does your business rely on vehicles for operations? Then, they need to be properly insured.
Commercial auto insurance covers vehicles used for business purposes, providing protection for liability, collision, medical expenses, and more. While the major coverages are the same as personal auto insurance, a commercial auto insurance policy differs in many technical respects.
For example, commercial auto insurance policies typically include higher liability limits to account for the increased risks associated with business driving. These policies can also cover specialized vehicles like delivery vans, construction trucks, or other equipment that might not be eligible under a personal policy.
Pro Tip: One key detail often overlooked is listing the business as the principal insured on the policy. Why is this important? If the vehicle is registered to your business but insured under your name, then filing claims will likely become complicated with delayed payment or even denial of coverage.
Group Health Insurance: Build Loyalty Through Better Benefits
Health insurance is a top priority and one of the most sought-after employee benefits. Offering a group health insurance plan can significantly enhance employee satisfaction and retention. Plus, businesses can save through a group plan with better rates and more comprehensive coverage than individual healthcare policies.
At Henry Insurance, we help businesses of all sizes—whether you have two employees or fifty—create customized health plans. Group health insurance can include:
- Medical Coverage
- Dental and Vision Plans
- Life Insurance
- Disability Insurance
Pro Tip: When selecting a group health insurance plan, consider offering voluntary benefits like supplemental coverage or health savings accounts (HSAs). These options empower employees to customize their coverage to their individual needs while keeping overall costs manageable for your business.
Partnering with Henry Insurance: Local Expertise You Can Trust
At Henry Insurance, we pride ourselves on being part of the Louisiana community. We understand the unique challenges and risks that local businesses face and work closely with our clients to create customized policies that offer real protection.
Let Henry Insurance take the guesswork out of your business coverage for 2025. Schedule a complimentary coverage review today and enjoy the confidence that comes from being fully prepared. Book a consultation to get started.
