PURE Insurance Review 2022: Home & Car

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Privilege Underwriters Reciprocal Exchange, or PURE Insurance, was founded in 2006 and is based in White Plains, New York. For over 15 years, the company has been selling home and auto insurance to individuals with a high net worth. Its policies are designed to cover luxury vehicles and homes valued at $1 million or more.

Car owners and homeowners looking for a high level of coverage for their investments could consider a policy from PURE Insurance. Keep in mind that the company works primarily through agents, with few options to get a quote or file a claim online.

  • Date established: 2006
  • Insurance products offered: Homeowners insurance and auto insurance
  • AM Best financial strength rating: A+ (Superior)
  • NAIC complaint index: .45 (fewer complaints than national baseline)
  • Availability: 49 states and Washington, D.C.
Pros Cons
Several different types of insurance available Only high-value insurance available for vehicles, homes and items
Policies available in nearly all U.S. states Few discounts
Fewer than average complaints filed against this company through the National Association of Insurance Commissioners (NAIC) Average full coverage car insurance rate is over $4,000, making it a less appealing option for budget-conscious buyers

PURE car insurance

PURE car insurance is geared toward high-net-worth individuals and designed to cover luxury vehicles, luxury motorhomes, antique vehicles, golf carts and motorcycles. The company emphasizes customer service, with unique features like the PURE Member Advocate program, its concierge-style service for policyholders who have been in an accident. All Member Advocates are fully licensed adjusters who can handle claims and complete administrative tasks, such as booking a rental car or locating a repair shop. In addition to minimum and full coverage insurance, PURE also offers various add-on coverage options, many of which are difficult to find from competitors.

Types of coverage

With PURE car insurance, customers can get access to standard coverage options such as collision, comprehensive, liability, medical payments and uninsured/underinsured motorist coverage.

However, the company has several value added coverage options that appeal to high net-worth individuals, including the following:

  • Agreed value coverage: If your car is totaled, PURE will reimburse you for the vehicle’s agreed value with no deductible.
  • OEM coverage: OEM coverage pays to repair original equipment and help find an auto body shop in your area.
  • Worldwide coverage: If you rent or borrow a vehicle anywhere in the world for up to 90 days, your car insurance policy will cover property and liability damage.
  • Extended transportation expenses: If your car breaks down more than 50 miles from home, PURE will cover the cost of a hotel, food and alternative travel. This coverage also ensures a rental vehicle that is of like kind and quality to the insured vehicle.

Cost of PURE car insurance

Since PURE caters to luxury car owners, its average annual premiums are significantly higher than the national average cost of car insurance. In fact, PURE policyholders pay an average of $333 more per year for minimum coverage and $2,502 more per year for full coverage insurance every year, compared to the national average.

The following rates reflect the most recent premium data from Quadrant Information Services.

Average annual premium for minimum coverage Average annual premium for full coverage
$898 $4,176

Discounts

On average, PURE Insurance is significantly more expensive than most other car insurance companies. However, the company does offer a few discounts that can help lower your car insurance premium. One standout discount includes:

  • Reduced mileage discount: If you limit the number of miles you drive every year, you may qualify for PURE’s reduced mileage discount.

There are also student discounts available. Your eligibility for student auto discounts may vary by state, so you may want to speak with a licensed insurance agent to determine which deals apply to you.

PURE home insurance

PURE home insurance covers houses that are valued at $1 million or more. For this reason, PURE home insurance caters mainly to high-net-worth individuals. The company offers flexible coverage, with options to personalize personal property, other structures and additional living expenses coverage. PURE Insurance also offers several endorsements geared toward high-net-worth individuals. The Member Advocate concierge service is another feature available to home insurance policyholders.

Types of coverage

PURE home insurance offers basic coverage options such as dwelling, personal property, liability, medical payments and loss of use coverage. PURE members can also get jewelry coverage, sewer and drain coverage (that can help in the event of a sewer backup), and guaranteed replacement cost coverage. The company also offers specialized coverage options geared towards top earners, including:

  • PURE home systems protection: Home systems protection covers mechanical and electrical systems, including HVAC, swimming pools and elevators.
  • Lost or stolen jewelry coverage: This coverage includes up to $50,000 for lost or stolen jewelry.
  • Guaranteed replacement cost: This coverage ensures your home will be built in a similar fashion and quality, regardless of if the actual cost is higher than your coverage limits. However, this option is not available in every state.

Discounts

PURE offers several homeowners discounts, including deals for living in a gated community, having burglar and fire alarms and multiple policies.

  • Impact-resistant windows and roofing: If you’re hoping to save on your home insurance, you may want to look into installing impact-resistant roofing and windows. Since these items are less likely to break, PURE may give you a deal for installing them.
  • PURE Flood Insurance discount: If you purchase PURE Flood Insurance with either PURE Flood Advantage or PURE Flood Extension, you may qualify for a 5% discount on your home insurance.

PURE ratings, reviews, customer satisfaction and complaint

PURE prides itself on providing excellent service to customers who are willing to pay top dollar, and the company’s ratings and reviews indicate that policyholders are generally happy with the company. PURE has an A+ (Superior) rating from AM Best, which indicates superior financial strength. Additionally, the company has fewer than average complaints filed with the NAIC and its mobile app received 3.6 out of 5 stars on the App Store. These reviews prove that PURE Insurance provides excellent products and strong financial capital.

The company is unrated by Standard & Poor’s (S&P) and J.D. Power.

Reasons why PURE is a good option

PURE insurance may be a great option for high-income individuals. The car and home insurance policies feature higher-than-average policy limits, unique coverage for valuables and a variety of add-on coverages that offer peace of mind and exceptional levels of service.

One of the most unique perks of PURE Insurance is the PURE Member Advocate program. Every policyholder gets connected with an advocate who can assist with claims handling, roadside assistance dispatch, booking rental cars, communicating with other driver’s insurance companies and more.

However, this insurance company is likely not a good option for people on a budget. The average car insurance policy from PURE costs over $4,000 and caters to luxury vehicles, which may not be practical for most Americans. If you do not own a luxury vehicle or a high-priced home, you will be paying for coverage that is not necessary.

Additional Policies offered by PURE

In addition to home and auto insurance, PURE offers the following policies:

  • Personal excess liability insurance
  • Jewelry, art and collections insurance
  • Fraud and cyber defense
  • Watercraft coverage
  • Flood insurance
  • Condo and co-op insurance
  • PURE Programs high-risk home insurance

Frequently asked questions

What is the best auto insurance company?

The best auto insurance company depends on your individual needs. You may want to speak with an insurance agent about your budget and preferences to decide which companies might work for you. There are thousands of car insurance companies on the market, and each provider has strengths and weaknesses. According to our analysis, some of the best car insurance companies are ones with excellent financial strength and strong customer satisfaction.

What is the best home insurance company?

The best home insurance company depends on your policy needs and preferences. You may want to consult an independent insurance agent who can point you towards companies who offer the policy types you want. From there, you may want to request quotes and compare discounts from multiple providers. The best home insurance companies are likely ones that have a strong history of paying out claims and offering endorsements that fit your unique circumstances.

How do I get a quote from PURE Insurance?

To get a quote from PURE, contact an agent by calling (888) 813-7873 or fill out this proposal request form. A PURE representative will then reach out and help you figure out what type of coverage is best for you.

What do I need to file a claim with PURE Insurance?

When you file a claim with PURE, you will need to submit claim paperwork and provide proof of damage. Photos, videos and a written description of the event can help insurance adjusters accurately evaluate your claim and determine your payout. For large home insurance claims, an adjuster might visit your home to evaluate the damage in person.

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a cleaning driving record, good credit and the following full coverage limits:

  • $100,000 bodily injury liability per person
  • $300,000 bodily injury liability per accident
  • $50,000 property damage liability per accident
  • $100,000 uninsured motorist bodily injury per person
  • $300,000 uninsured motorist bodily injury per accident
  • $500 collision deductible
  • $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our sample drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually.

These are sample rates and should be used for comparative purposes only. Your quotes may be different.

Written by
Lizzie Nealon
Insurance Writer
Lizzie Nealon is an insurance writer for Bankrate. Her favorite part of the job is making home, auto and life insurance digestible for readers so they can prepare for the future.
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