PURE Insurance Review

Are you thinking about giving PURE Insurance a call for your insurance needs?

This high-end site surely is beautiful to behold – but the real question is are they the right insurer for you?

If you are looking at PURE Insurance Reviews on the internet, chances are you are considering them for your home insurance needs.

The question is, are they the right insurer for YOU?

PURE Insurance: Is It For You?

I’m gonna give you a little insider info to save you some time and energy.

If your home burned down tomorrow, would it cost $2,000,000 or more to rebuild?  If not, PURE Insurance isn’t your next insurance company.

But for those of you who answered, yes…

Let’s start with those of you that fit into the elite PURE Insurance target audience! 

When it comes to insuring against life’s hazards, F. Scott Fitzgerald said it best:

The rich are different from you and me.

Defending a fortune against the exposures inherent in luxury yachts, priceless art, numerous homes, scheming housekeepers and running with a wealthy crowd requires highly sophisticated insurance policies that work in concert. Insuring the Rich and Famous, FoxBusiness.com

If you’re looking at PURE, you should fall into one of two groups:

Group One

If you fall into the first group, you are already with another “private client” type insurance company, such as Chubb or AIG.

If so, you already have some understanding of the level of service you can expect from PURE, because PURE was built to compete with Chubb and AIG.

Group Two

Those who are with a standard insurance company (Allstate, State Farm, or Liberty Mutual) and looking to upgrade are in the second group.

You may be in for a surprise, because PURE is going to knock the socks off the level of service you have received in the past.

​​​So if you fall into either one of these two groups I’m gonna fill you in on why PURE Insurance may just be the company for you.

I will, however, add a small disclaimer here.

No matter what sort of insurance you are looking to buy or what company you are considering ALWAYS comparison shop.

It will save you time, money and hassle in the long run. Remember the first quote you get won’t necessarily be the best.

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PURE Insurance Benefits

PURE Insurance is Muhammad Ali or the Beatles, circa 1963. They are the Jordan Speith of the Insurance world. The young upstart…the contender and they want to take on the established competition and win!

PURE Insurance has been in business since 2006, which is very new in the ancient world of insurance… which moves at the pace of a large glacier.

PURE Insurance is a Co-Op or “Mutual Insurance Company”

This means PURE Insurance pays policyholders a dividend, dependent on their claims history and the overall profitability of the company.

With PURE you aren’t a customer, you are a “member”. The Co-Op structure is meant to eliminate the shareholder vs. policyholder dilemma.  PURE Insurance pays a dividend to all policyholders after operating costs are deducted from the premiums paid.

This is a nice perk and not something done by AIG or Chubb.

PURE Insurance Is Very Picky

They won’t take just anyone, PURE Insurance wants to insure the ‘best of the best’.  

If you have a home that is exposed to a highly flammable area of dry brush with a low level of accessibility for fire trucks, they will probably decline to quote you. There are a lot of these issues in California, so just be aware they might decline to quote you if your home is on a virtual “ wildfire island” surrounded by flammables.

This can be a perk or an obstacle depending on your circumstances.

But if that’s the case you can always check in with our partners right here. They’ll be more than happy to provide you with a quote. Remember there are lots of fish in the insurance industry:

PURE Doesn’t Have Employees

They outsource everything from underwriting, premium collection, and claims handling.  This is how they keep the overhead costs to a minimum.  This might be a pro, or it might be a con.

PURE Insurance Crushes The Competition With Services

If you fall into category two that I mentioned above, PURE Insurance will astonish you with their vast array of services. They really do leave standard insurers, such as All-State or Farmers in the dust. Here is a list of their services that go above and beyond:

…AND these are just some of my favorites. They also offer custom watercraft protection, content inventory services, and home maintenance vendor research and coordination.

PURE Insurance Isn’t For Everyone

I hate to state the obvious – but if you don’t fall into their target audience, they simply aren’t the right insurer for you. They are looking for people with high net worth and this quite simply isn’t the insurer for most of us.

There are however a plethora of options out there and there are the companies we suggest:

PURE Insurance Doesn’t Favor Areas at Risk of Natural Disasters

Let’s face it. You may have a property that is worth well in excess of $2MIL.

….BUT if you live in California on a fault – PURE Insurance isn’t your “go-to” company. The same holds true if you own a property in Florida – which is hurricane alley.

Some of the most beautiful and EXPENSIVE properties on the planet are located in highly volatile areas of the world.

If this is you then you should contact an independent agent to find an insurer that specializes in those circumstances.

Again, PURE Insurance Doesn’t Have Employees

I mentioned this as a pro above – because there are savings attached to this. That being said, if you are looking for white-glove treatment and relationship building this might not be the company for you.

Chris, I’m definitely category three – which means I DON’T fit into PURE’s target group! Now what?

You and MOST people!  

As I mentioned above. Whether PURE Insurance seems to be the company for you – OR  – there’s no way you would apply… SHOP around!

There is truly no better way to find the most affordable premiums with a company that has all the bells and whistles you are looking for.

Each and every insurance company has a niche. PURE Insurance has a very narrow one but there are many other awesome insurers out there.

PURE Insurance In A Nutshell

PURE Insurance Company only wants to insure the largest, low-risk homes in the country. Anything with less than $2,000,000 of insurance face value is too low for them.

They are picky. Being new and dependent on reinsurance treaties to handle much of their risk, they won’t take some of the properties willingly accepted by their competitors.

PURE Insurance is copying AIG Private Client and Chubb’s policy and a suite of services. They differ only slightly when it comes down to it.

They primarily compete with Chubb and AIG Private Client Group.  The ‘high net worth’ niche is very popular these days, with many new competitors entering the arena.

Their suite of services is first-rate:  “Member advocates” act as the quarterback for a team of advisors. These folks bring expertise and property preservation to the equation. 

PURE Insurance is a “Co-Op” of sorts. This eliminates the stockholder vs. policyholder dilemma. They also pay a dividend to policyholders should their underwriting profit margin warrant it.

Reputation and longevity are very important to a lot of people.

Some folks choose to stay with Chubb and AIG Private Client because sometimes it’s just a choice between known vs. the unknown.

Chubb and AIG both provide the same suite of services as PURE, but they also have a longer history.

Chubb has been around in name since the 1800’s. AIG is apparently too big to fail, which is always a plus I suppose.

It’s also about the cost!

We found the average cost of homeowners insurance to be $1,083 nationwide. Homeowners insurance rates continue to rise at a steady rate throughout the United States, up over 50% in the last 10 years alone. Average Cost of Homeowners Insurance (2018), ValuePenguine.com

For others, it’s all about premium costs.

Some clients save a lot by going with PURE Insurance, others decide that the savings aren’t worth it.

It’s a mixed bag with pricing and I’m not a big fan of making insurance purchasing decisions based on price.

Whatever you decide to do, make sure you get all the discounts possible when obtaining your quote. PURE has about 30 different possible discounts, many related to wildfire loss prevention. This could make a huge difference in the cost of your premiums. 

Read more:

• 5 Ways To Prepare Your Home For Wildfires (#1 Is Kinda Hard…)
• Comprehensive Review of PURE Homeowners Insurance

Appointed agents vs. employees? Service is another serious consideration!

PURE Insurance is good about only appointing the very best of the best independent agencies.

The level of expertise you can expect from a PURE appointed agent is very high, which I believe is one of their best decisions.

It also eliminates some of your worry about dealing with a rookie agent who is just learning about insurance with you.

However, there is something to be said for dealing with employees who have a vested interest in your account. Independent agencies can come and go – but if you are looking to develop a relationship with your insurer – this could be problematic.

My best advice? Comparison shop!

Always, ask a lot of questions, get informed and do some research.

It’s the only way to make sure you don’t get blinded by the flashy lights of low premiums.

Go for stability, coverage, and service.

In order to get these results, you have to detach yourself from the situation and make a decision that is not based on emotion.

Disciplined research coupled with quality information provides you with all the answers. in my humble opinion, PURE Insurance should get a seat at the table with Chubb and AIG. If they fit the bill – then, by all means, go with them.

BUT chances are they don’t and if that’s the case there are plenty of other very reputable insurance companies that will!

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