PURE insurance?
- Thread starter bowball
- Start date
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If you have answers, please help by responding to the unanswered posts.
If you have answers, please help by responding to the unanswered posts.
twistedtree
Guru
Flatswing
Guru
- Joined
- Sep 21, 2016
- Messages
- 582
- Location
- United States
- Vessel Name
- River Girl
- Vessel Make
- 2004 DeFever 49 RPH
PURE has been around for a while. Actually Privileged Underwtiters Reciprocal Exchange. Not a typical Insurance Co. but we’ll thought of for the most part. Not the cheapest out there. When we used them , one had to insure everything through them. Claims were easy & the biggest selling point was you could get cash value if your house was destroyed, rather than having to rebuild to claim.
Adopo
Guru
High end, the company we should have had when we had the house fire, but I knew that. AIG, Pure, and there is one other that is highly recommend. More premium but superior coverage with less to no hassle. Chubb, that's the other. Alfred Browning Parker masterpiece 1964, Floridan architect. Parts of the house reminded me of a boat, and it was designed to look like a boat from the air. The only good thing is no one was killed.
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Retriever
Senior Member
We have PURE insuring the boat I work on and they seem fine, but we have no claims experience. The PURE navigation limits are a little more generous than the Chubb limits on my own boat, but the Chubb policy is a little less expensive per $ covered.
Unlike some insurers, PURE covers us from west coast North America to Hawaii, and they cover us in Hawaii during storm season. But they won’t extend our nav limits west/south of Hawaii.
Unlike some insurers, PURE covers us from west coast North America to Hawaii, and they cover us in Hawaii during storm season. But they won’t extend our nav limits west/south of Hawaii.
Nick14
Guru
I used PURE for the past 4 years for home, auto, and umbrella coverage, but recently switched to Cincinnati.
As others have said, PURE has been around for a while, though was acquired two years ago by Tokio Marine Holdings.
Since the acquisition by Tokio our premiums have increased 50-100% each of the past two years, despite filing no claims and having no changes or other extenuating circumstances. After another 50% increase for the coming year, I shopped around and chose Cincinnati, which seemed to have good references and was significantly less expensive than the PURE quote for the coming year.
My understanding is that Tokio doesn't want to be in certain businesses, such as insuring homes in coastal areas, and will only continue to provide coverage if they're able to get insanely high prices. They apparently designated my entire state as a 'coastal area.'
YMMV, especially if you're not in a coastal area.
twistedtree
Guru
That's interesting. I first went with Pure because they had much more reasonable rates and coverage for waterfront property vs Chub and AIG. Nobody else would even quote for waterfront property. I sold the waterfront property so that no longer matters, but it's interesting to see the change.
Nick14
Guru
That's why I also went with PURE 4 years ago, for similar reasons. I've experienced a big change since they were bought by Tokio.
quinsky
Veteran Member
I chose PURE for my home in 2009 because they were one of very few companies offering coverage for a high value home in a hurricane prone area. A couple of years ago they raised my rates due to a report from Lexus Nexus that said I had some unpaid mortgages ( which was incorrect). Tried to fight it but they weren’t interested in listening. We’re talking about home insurance not home loans! I went exploring and found better coverage for less. One of the brokers told me PURE had taken some big losses and was getting out of the high value home market. Another example of insurance musical chairs.
