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For over 60 years and three generations, the May Family has served the local and surrounding communities by providing their clients with the knowledge they need to understand which product best protects their assets.

As an independent agency we have the unique advantage to utilize our many carriers to tailor each client's individual needs with flexible and affordable coverage.

ISU Midsouth Insurance knows that each business and personal coverage line demands case-specific underwriting that fits individual needs. That's why we work with our clients to find them the best possible coverage available, often relying on various carriers to accomplish this. The road of life often has unexpected twists and turns. In the event of a claim, whether it is a small collision, minor damage due to a windstorm or a full blown natural disaster, we work for our client to resolve their problem.
Having insurance is like owning a home - it provides shelter for the ones you love.  That's what ISU MidSouth is built on.  Protection you expect, savings you want and loyalty you deserve. 


What is Homeowners Insurance?
Homeowners insurance provides financial protection against disasters. A standard policy insures the home itself and the things you keep in it.

Homeowners insurance is a package policy. This means that it covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. This includes damage caused by household pets.

Damage caused by most disasters is covered but there are exceptions. The most significant are damage caused by floods, earthquakes and poor maintenance. You must buy two separate policies for flood and earthquake coverage. Maintenance-related problems are the homeowners' responsibility.



What is in a standard homeowners insurance policy?
A standard homeowners insurance policy includes four essential types of coverage. They include:

1. Coverage for the structure of your home.
This part of your policy pays to repair or rebuild your home if it is damaged or destroyed by fire, hurricane, hail, lightning or other disaster listed in your policy. It will not pay for damage caused by a flood, earthquake or routine wear and tear. When purchasing coverage for the structure of your home, it is important to buy enough to rebuild your home.

Most standard policies also cover structures that are detached from your home such as a garage, tool shed or gazebo. Generally, these structures are covered for about 10% of the amount of insurance you have on the structure of your home. If you need more coverage, talk to your insurance agent about purchasing more insurance.

2. Coverage for your personal belongings.
Your furniture, clothes, sports equipment and other personal items are covered if they are stolen or destroyed by fire, hurricane or other insured disaster. Most companies provide coverage for 50% to 70% of the amount of insurance you have on the structure of your home. So if you have $100,000 worth of insurance on the structure of your home, you would have between $50,000 to $70,000 worth of coverage for your belongings. The best way to determine if this is enough coverage is to conduct a home inventory.

This part of your policy includes off-premises coverage. This means that your belongings are covered anywhere in the world, unless you have decided against off-premises coverage. Some companies limit the amount to 10% of the amount of insurance you have for your possessions. You have up to $500 of coverage for unauthorized use of your credit cards.

Expensive items like jewelry, furs and silverware are covered, but there are usually dollar limits if they are stolen. Generally, you are covered for between $1,000 to $2,000 for all of your jewelry and furs. To insure these items to their full value, purchase a special personal property endorsement or floater and insure the item for it's appraised value. Coverage includes “accidental disappearance, ” meaning coverage if you simply lose that item. And there is no deductible.
Trees, plants and shrubs are also covered under standard homeowners insurance. Generally you are covered for 5% of the insurance on the house –- up to about $500 per item. Perils covered are theft, fire, lightning, explosion, vandalism, riot and even falling aircraft. They are not covered for damage by wind or disease.

3. Liability protection.
This covers you against lawsuits for bodily injury or property damage that you or family members cause to other people. It also pays for damage caused by your pets. So, if your son, daughter or dog accidentally ruins your neighbor’s expensive rug, you are covered. However, if they destroy your rug, you are not covered.

The liability portion of your policy pays for both the cost of defending you in court and any court awards -- up to the limit of your policy. You are also covered not just in your home, but anywhere in the world.

Liability limits generally start at about $100,000. However, experts recommend that you purchase at least $300,000 worth of protection. Some people feel more comfortable with even more coverage. You can purchase an umbrella or excess liability policy which provides broader coverage, including claims against you for libel and slander, as well as higher liability limits. Generally, umbrella policies cost between $200 to $350 for $1 million of additional liability protection.

Your policy also provides no-fault medical coverage. In the event a friend or neighbor is injured in your home, he or she can simply submit medical bills to your insurance company. This way, expenses are paid without their filing a liability claim against you. You can generally get $1,000 to $5,000 worth of this coverage. It does not, however, pay the medical bills for your family or your pet.

4. Additional living expenses in the event you are temporarily unable to live in your home because of a fire or other insured disaster.
This pays the additional costs of living away from home if you can't live there due to damage from a fire, storm or other insured disaster. It covers hotel bills, restaurant meals and other living expenses incurred while your home is being rebuilt. Coverage for additional living expenses differs from company to company. Many policies provide coverage for about 20% of the insurance on your house. You can increase this coverage, however, for an additional premium. Some companies sell a policy that provides an unlimited amount of loss-of-use coverage -- for a limited amount of time.

If you rent out part of your house, this coverage will also reimburse you for the rent that you would have collected from your tenant if your home had not been destroyed.
 
How and why it is important to take a home inventory!
Would you be able to remember all the possessions you’ve accumulated over the years if they were destroyed by a fire? Having an up-to-date home inventory will help you get your insurance claim settled faster, verify losses for your income tax return and help you purchase the correct amount of insurance.

Start by making a list of your possessions, describing each item and noting where you bought it and its make and model. Clip to your list any sales receipts, purchase contracts, and appraisals you have. For clothing, count the items you own by category -- pants, coats, shoes, for example –- making notes about those that are especially valuable. For major appliance and electronic equipment, record their serial numbers usually found on the back or bottom.

Don't be put off!
If you are just setting up a household, starting an inventory list can be relatively simple. If you’ve been living in the same house for many years, however, the task of creating a list can be daunting. Still, it’s better to have an incomplete inventory than nothing at all. Start with recent purchases and then try to remember what you can about older possessions.

Higher Value Items!
Valuable items like jewelry, art work and collectibles may have increased in value since you received them. Check with your agent to make sure that you have adequate insurance for these items. They may need to be insured separately.

Take Pictures!
Besides the list, you can take pictures of rooms and important individual items. On the back of the photos, note what is shown and where you bought it or the make. Don’t forget things that are in closets or drawers.

Use a Video Recorder!
Walk through your house or apartment videotaping and describing the contents. Or do the same thing using a tape recorder.

Using your computer!
Use your PC to make your inventory list. Personal finance software packages often include a homeowners room-by-room inventory program.

Keep Your list, video and photos safe!
Regardless of how you do it (written list, floppy disk, photos, videotape or audio tape), keep your inventory along with receipts in your safe deposit box or at a friend's or relative's home. That way you’ll be sure to have something to give your insurance representative if your home is damaged. When you make a significant purchase, add the information to your inventory while the details are fresh in your mind.



ISU MidSouth Insurance Agency - protecting your home for more than 60 years.





What is a "BOP" or Business Owners Policy?

Business owners policy, commonly called a "BOP" contains many of the insurance coverages needed by most small businesses. The basic BOP offers business property both building, contents, and liability insurance protection for the operation of your business.  The liability protection will generally include both the operation of your business, at its established location, and the liability from your products or completed operations. Some, but not all of the policies, will also offer business income and extra expense protection after an insured loss. BOP policies do not contain all of the coverages needed by a small business. Notably they do not cover any workers compensation, professional liability, or business vehicle coverage.



Commercial Property
Commercial Property protects your business against the loss or loss of use of company property. "Property" can include a variety of types: lost income or business interruption, buildings, computers, money, and valuable papers.
 
General Liability
The general or public liability policy provides protection for claims of liability that are made by third parties. The policy provides defense protection even if the allegations are groundless. In addition the policy will pay any judgment up to the policy limit of coverage.
 
Commercial Auto
A commercial automobile insurance policy is required under most circumstances when the vehicle is used for business purposes and meets certain other requirements. It is not just the registration that determines the requirement for a business automobile insurance policy. Other requirements are ownership by a corporation, use in hauling goods for hire, and gross vehicle weight of the vehicle. Some small trucks can be owned and insured under a personal automobile insurance policy under specific circumstances, but we recommend a business auto policy for maximum coverage.

Commercial automobile insurance policies are not regulated in pricing, as are private passenger policies. There is price competition between insurance companies for good commercial automobile insurance. Having adequate coverage for your employees while operating company vehicles is not only smart -it's doing good business.

Workers Compensation
Workers Compensation insurance protects employers from claims resulting from injuries to employees. It protects your business from lawsuits and provides employees with compensation for on-the-job injuries. By law, most employers are required to provide coverage for lost wages and medical bills incurred as a result of on-the-job accidents or illnesses. For many businesses, this coverage is the largest part of its insurance expense.
 
Commercial Umbrella
Most package policies provide a liability insurance limit of $1 million for any one loss and $2 million in any one year. For many businesses, this limit is inadequate for real economic security. As a result, additional layers of protection in million-dollar increments are readily available in today's insurance market for most businesses.
 
Business Interruption
If your business suffers a property loss it could cause the business to slow or close down while repairs are made. This may mean a complete or partial revenue loss depending on the time frame and the damage. From the time the loss occurs until your business is running again, insurance can replace your lost profits, and provide a source of money to pay your necessary continuing expenses, like rent, payroll, taxes, etc.
 
Surety Bonds
We work with many of the country's top-rated surety companies to secure:
 
Employment Practices Liability (EPLI)
Employment Practices Liability Insurance otherwise known as EPLI is insurance that helps protect you against claims from your employees that result from the general conduct of your business. Common examples of employee related claims include claims relating to:

The general or public liability policy provides protection for claims of liability that are made by third parties. The policy provides defense protection even if the allegations are groundless. In addition the policy will pay any judgment up to the policy limit of coverage.
 




Choosing your insurance is like buying a car. 
You want the right one at the best possible price.  That's what drives us at ISU MidSouth Insurance.   Protection you expect, savings you want and
loyalty you deserve.



What is Auto Insurance?

The basic principle behind auto insurance is to cover the costs of injuries or damages resulting from traffic accidents and to protect vehicles against other inconveniences such as theft and vandalism. Their are many different types of coverage, and each one compensates the policyholder in a unique way.




What are the types of auto insurance available?

Liability auto insurance pays up to the specified limits and limitations of bodily injury and property damages incurred by third parties if the insured is found liable as a result of an automobile accident. Without coverage, the liable party would be responsible for paying the third parties' damages and may be forced to pay from the equity of a house or vehicle. Having this type of protection helps in the event of unforeseen accidents and the associated costs.  It is required by law to have liability insurance if you own an automobile.

Medical payments auto insurance portion of a policy is designed to pay some of the medical consequences that may result from an accident such as medical bills and/or funeral expenses up to the policy limit.

Uninsured motorist auto insurance not only insures against the "Uninsured motorist" but also protects policy owners against the "Under-insured motorist". Uninsured motorist coverage is optional; However, it is recommended that it be added to a policy in the best interest of the insured.

Comprehensive and collision auto insurance, also referred to as "Physical Damage", covers damage caused by anything "other than auto collisions." Some of the more common examples are ,theft, fire, vandalism, collision with animal, windstorm, flying objects, hail and broken windows.

Rental car coverage pays for the rental of a vehicle in the event the policy owner's vehicle is stolen or in an accident while the claim is settled.

Roadside assistance plans can vary depending on the company providing it. Typical coverage consists of 24 hour emergency towing service, 24 hour lost key and lockout service, 24 hour mechanical first aide, 24 hour emergency road service, 24 hour battery service, 24 hour tire service, theft and hit & run protection.



How can you save money?

Some of the common discounts available are:
• Multi-car - this is having two or more cars insured with the same company
• Multi-line - similarly, this is having a vehicle and homeowners insured with the same company
• Good Driver - Many companies offer discounts for those with a clean driving record
• Good Student - Full-time students with a "B" average can receive a good student discount
• Paid in full - pay your premium in full at the start if every policy period.



What does Louisiana Law require of automobile owners?

Under Louisiana car insurance laws liability coverage must be carried on any automobile owned. This covers bodily injury and/or property damage that the insured is to be found liable for up to the policy limits.
The minimum requirements are:
• $15,000 for bodily injury to one person
• $30,000 for bodily injury to two or more people
• $25,000 coverage for damage to someone else's property



ISU MidSouth Insurance Agency - protecting your precious cargo for more than 60 years.