White Plains, New York – August 7, 2012 – Privilege Underwriters Reciprocal Exchange (PURE) has announced the recent expansion of its customized property and casualty insurance coverage to owners of well-built, high-value homes in New Mexico.
Coverage and Service that Responds
During the Little Bear Fire, thousands of families in central New Mexico were mandated to evacuate their homes. Upon returning and reviewing the damage, many homeowners will look to their insurance provider for alternative accommodations while their homes are repaired and restored. In the most severe cases, families that have suffered total losses will be forced to rebuild their homes from the ground up.
“Natural disasters pose a unique set of challenges to homeowners as they seek to return to their everyday lives, and it’s in circumstances like these that families often take a closer look at how their insurance responds,” said Ross Buchmueller, President and Chief Executive Officer with PURE. “PURE offers the coverages and services that will be imperative for many New Mexico homeowners in the coming weeks.”
PURE members receive:
- Generous Additional Living Expenses coverage, which provides the funds necessary for a displaced family to reside in a home that meets their normal standard of living;
- Guaranteed Replacement Cost coverage, which pays for homeowners to rebuild their home in like kind and quality, even if the cost to do so exceeds policy limits;
- Wildfire Mitigation Protection, in which PURE partner Firebreak Spray Systems will assess a property’s vulnerability to wildfires and apply Phos-Chek® Long-Term Fire Retardant if necessary;
- The service of Member Advocates, who are on hand to facilitate loss prevention services like the Wildfire Mitigation Protection program, and can assist members by helping to eliminate the hassles associated with a claim;
- Loss Prevention Allowance, in which PURE will contribute $2,500 to help members who have suffered major losses prevent similar losses from occurring in the future;
- Expertise from local agents, who are appointed based on their experience helping high net worth individuals find smart insurance solutions. Prospective PURE members can visit pureinsurance.com/agents to locate an appointed agent in their area.
A Smart New Solution for New Mexico’s High Net Worth Families
As a specialist insurer, PURE’s coverage and service is often broader than that offered by standard carriers. As a policyholder-owned company, PURE emphasizes transparency and alignment for members, providing the kind of conflict-free service that high net worth families seek. This alignment, coupled with careful selection of members and a focus on risk management, enables PURE to deliver specialist quality for less. Members have reported average savings of more than 25% on their annual insurance premiums.
For promotional purposes, PURE refers to the members of the PURE Group of Insurance Companies. PURE Group is rated “A-” (Excellent) by A.M. Best Company. Insurance coverage is underwritten through Privilege Underwriters Reciprocal Exchange, a Florida-domiciled reciprocal insurance exchange and member of the PURE Group. PURE provides coverage for high-value homes, automobiles, jewelry, art, personal liability and watercraft to 16,000 successful families in 38 markets across the U.S. and is committed to helping its members (policyholders) reduce the price of insurance today while controlling their long-term cost of risk. In return for a fee, PURE Risk Management, LLC acts as Attorney-in-Fact for PURE. For more information, visit pureinsurance.com.
Interviews with PURE's executives, agents and members may be coordinated
Copies of the A.M Best Company report are available.
This material is descriptive only. The precise coverage offered is subject to the terms and conditions of the policies issued. The rights and responsibilities of members are subject to the Subscriber’s Agreement and Power of Attorney. Coverage may not be available in all jurisdictions. *Average savings based on members countrywide who reported savings to PURE since 2010. Actual savings, if any, will vary.