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PURE insurance review 2023

Updated Feb 02, 2023
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Bottom Line

Privilege Underwriters Reciprocal Exchange, or PURE Insurance, is a relatively new provider with coverage that’s tailored to individuals with a high net worth. The company offers a wide range of insurance policies for high-value vehicles, homes and items, but may not be a prudent choice for the average American.

Pros
  • Coverage is tailored to high-net-worth individuals

  • Numerous coverage types available

Cons
  • No online quotes

  • Lower-net-worth individuals may not qualify for coverage

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What’s new with PURE?
  • Each year, PURE hosts a charity golf tournament called “The Match.” During the 2022 event, PURE announced its latest PURE Insurance Scholar. The scholarship went to a high school senior who plans to become an engineer.
  • In September 2022, PURE launched a new advertising campaign called “Join the Club.” The campaign highlights PURE’s unique approach to insurance for individuals with a high net worth.
  • PURE members may be eligible for a Subscriber Savings Account, or SSA. Money in SSAs remains on PURE’s balance sheet, which the company says helps keep premiums in check. If you have an SSA for 10 years, you reach Gold Status and may receive money back from your SSA. In July 2022, PURE sent over $815,000 back to policyholders with SSAs.

PURE car insurance

PURE car insurance does business in all 50 states and could be one of the best auto insurance companies for drivers with a high net worth. PURE allows policyholders to insure multiple types of vehicles — including standard vehicles, luxury vehicles and even golf carts — on one policy. The company has several unique add-ons that may be helpful to high net worth individuals, especially those who travel often.

PURE offers a wide range of coverage options. The company provides the standard options of collision, comprehensive, liability, medical payments, and uninsured and underinsured motorist coverage. In addition, policyholders can purchase agreed value coverage, extended transportation expenses, original equipment manufacturer (OEM) coverage, and worldwide rental coverage — which gives policyholders the ability to rent or borrow a vehicle anywhere in the world.

Pros and cons of PURE car insurance

PURE could be a good choice for some clients, but it’s not likely to be the best option for everyone. If you’re in the process of getting car insurance quotes and comparing companies, here are some of the pros and cons of PURE car insurance:

PROS

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    Unique coverage options tailored to high-net-worth individuals

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    Member Advocates service provides additional support during claims

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    Local agents available

CONS

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    No online quotes

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    Qualifications for coverage may be based on net worth

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    Not rated by J.D. Power for customer or claims satisfaction

Advertising Disclosure
This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

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PURE car insurance cost

The average PURE car insurance policy costs $4,460 per year for full coverage and $841 for minimum coverage as of 2023. Our PURE Insurance review found that the company’s average policy is much more expensive than the national average cost of car insurance, since PURE caters to high-net-worth clientele. On average, a car insurance policy in the United States costs $2,014 per year for full coverage and $622 per year for minimum coverage. If you’re looking for cheap car insurance, it may be helpful to compare rates from several carriers. The tables below show how PURE premiums compare to the national average for a range of driver profiles.

PURE car insurance rates by driving history

Having incidents like traffic violations and at-fault accidents on your driving record may indicate to insurance companies that you are more likely to file a claim. Rates are generally higher for those drivers who have had accidents or ticket convictions. Bankrate has analyzed rates for various driving incidents, including a single speeding ticket and a single at-fault accident, over a number of years. We also track DUI rates but have chosen not to include them in our PURE Insurance review. Not all companies will write policies for individuals with DUI convictions, so if you have one, it may be best to work directly with PURE to see if you can get coverage.

PURE average monthly full coverage premium PURE average annual full coverage premium National average annual full coverage premium
Clean driving history $372 $4,460 $2,014
Speeding ticket conviction $583 $6,690 $2,427
At-fault accident $697 $8,363 $2,854
PURE average monthly minimum coverage premium PURE average annual minimum coverage premium National average annual minimum coverage premium
Clean driving history $70 $841 $622
Speeding ticket conviction $105 $1,262 $748
At-fault accident $131 $1,577 $892

PURE car insurance quotes by age

Age is also one of the biggest factors that car insurance companies may analyze when setting rates. Generally, younger drivers pay higher rates due to their inexperience behind the wheel. It’s usually cheaper for parents to keep young drivers on a family policy until the young driver has established their own household. Rates usually go down with age, assuming that drivers maintain clean driving records. The rates we showcase are for drivers with no incidents on their driving records.

Average cost of car insurance for drivers on their parents’ policy

PURE average monthly full coverage premium PURE average annual full coverage premium National average annual full coverage premium
Age 16 $829 $9,947 $4,392
Age 17 $686 $8,233 $4,102
Age 18 $736 $8,836 $3,837
Age 19 $658 $7,901 $3,345
Age 20 $606 $7,272 $3,149
PURE average monthly minimum coverage premium PURE average annual minimum coverage premium National average annual minimum coverage premium
Age 16 $130 $1,559 $1,470
Age 17 $99 $1,183 $1,362
Age 18 $106 $1,274 $1,261
Age 19 $98 $1,172 $1,070
Age 20 $91 $1,092 $995

Average cost of car insurance for drivers on their own policy

PURE average monthly full coverage premium PURE average annual full coverage premium National average annual full coverage premium
Age 18 $1,361 $16,337 $6,110
Age 25 $517 $6,199 $2,473
Age 30 $397 $4,768 $2,125
Age 40 $372 $4,460 $2,014
Age 60 $326 $3,906 $1,824
PURE average monthly minimum coverage premium PURE average annual minimum coverage premium National average annual minimum coverage premium
Age 18 $207 $2,489 $1,967
Age 25 $103 $1,241 $747
Age 30 $75 $899 $647
Age 40 $70 $841 $622
Age 60 $69 $823 $578

PURE car insurance discounts

If you’re looking for ways to save on your car insurance, discounts could be one of the easiest options. Most car insurance companies offer at least a few discounts, and PURE is no exception. However, PURE only highlights a few discounts on its website. These include insuring more than one vehicle, insuring a child that goes to college without taking a vehicle and limiting how often you drive your collector car. More savings opportunities may be available, but you’ll need to speak directly with PURE to find out what discounts you qualify for.

PURE car tools and benefits

PURE Member Advocates are available to help PURE members book rental cars, locate repair facilities, communicate with other drivers’ insurers and reduce the administrative tasks that come with vehicle ownership. The company’s mobile app is also a useful feature, as it allows policyholders to file claims directly from their phones, access ID cards and call for roadside assistance.

PURE Insurance home insurance

PURE home insurance coverage could be a good choice for those with homes valued at $1 million or more. For homeowners with a high net worth, searching for the best home insurance may be a bit more complicated. Shopping around and comparing home insurance quotes may still be helpful, but high-value homes often have unique features that require specialized coverage.

PURE understands this and strives to provide home insurance options that can be customized. The company offers flexible rebuilding options so that you can choose whether to rebuild your home or receive a cash settlement in the event of a covered loss. PURE also offers guaranteed home replacement cost, jewelry coverage, broad coverage for sewer and drain backups, flexible deductible options and coverage to help you prevent losses that have previously occurred.

Pros and cons of PURE homeowners insurance

Understanding a company’s perks and drawbacks could be a good way to get a holistic view of what your experience with that insurer may look like. These are some of the pros and cons of PURE home insurance that Bankrate found noteworthy:

PROS

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    Policies are specifically built with high-value homes in mind

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    Policies include many standard coverage types that are often optional with other carriers

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    Member Advocacy services may help you prevent or minimize damage and recover after a claim

CONS

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    Homes under $1 million may not qualify for coverage

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    Not rated by J.D. Power for customer or claims satisfaction

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    Quotes are only available by phone or with a local agent

Advertising Disclosure
This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.
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PURE home insurance cost

Since PURE home insurance is specifically designed to cover luxury homes, it’s no surprise that its average premiums are higher than the national average cost of home insurance. PURE’s average rate is $2,205 per year for a policy with $250,000 in dwelling coverage, while nationally, home insurance costs $1,428 for the same coverage. For a higher-value home with $750,000 in dwelling coverage, PURE’s average rate is $4,139 per year, compared to the national average of $3,761 per year. Keep in mind that these rates are for guidance and comparison purposes only. PURE may not insure a home for less than $1 million in dwelling coverage.

Dwelling coverage limit PURE average annual premium National average annual premium
$150,000 $1,858 $975
$250,000 $2,205 $1,428
$350,000 $2,535 $1,879
$450,000 $2,869 $2,343
$750,000 $4,139 $3,761

PURE home insurance discounts

Many homeowners seeking cheaper home insurance use home insurance discounts as a way to lower their premiums. PURE notes that it offers home insurance discounts, but doesn’t list specific ways to save on its website. You may be able to speak with a PURE agent to find out how you can save on your policy.

PURE home tools and benefits

PURE’s home insurance product really shines when you review the company’s additional tools. PURE’s Member Advocates are also available for home insurance and can help you with tasks ranging from learning how to prevent losses to putting you in contact with the right contractors to repair damage after a claim. PURE also runs a Situation Room that tracks severe weather and can alert you if you are in the path of a potentially damaging event.

The perks don’t end there. If you’re buying a new home, you could turn to PURE’s Home Spotlight report to find out if the house may have issues you don’t know about, like previous water damage or a flood risk. PURE also offers art collection services and wildfire mitigation programs, among other services.

PURE customer satisfaction

When shopping for home insurance, you may want to take the time to review third-party rating information for the companies you are considering. AM Best rates companies for financial strength, which reflects their historical ability to pay claims. PURE has an A+ (Superior) rating from AM Best, just one level below the highest rating level of A++. J.D. Power is a consumer data analytics company that reviews insurers across a range of metrics, and the National Association of Insurance Commissioners (NAIC) compiles a score for each insurer based on the number of complaints it receives. Below, we’ve analyzed PURE’s customer satisfaction ratings by product line.

PURE auto satisfaction

Likely because PURE’s target customers are such a specialized group, it wasn’t rated in either the J.D. Power customer satisfaction survey or the claims survey. The NAIC did assess a complaint index, though. A score of 1.00 is the baseline number of complaints that the NAIC expects, and PURE received a score of 0.32 on its private passenger (personal auto) insurance product. This means that the NAIC received fewer-than-average complaints regarding PURE’s service, including its claims service, which could provide potential policyholders with peace of mind.

PURE homeowners satisfaction

Similarly to auto insurance, PURE’s home insurance wasn’t rated in any J.D. Power study. The company’s NAIC complaint index for home insurance is 0.04. This is far lower than the baseline and indicates a generally high level of satisfaction with PURE’s service. We didn’t find these low complaint numbers surprising, considering PURE’s dedication to personalized service before and after a claim.

How to file a claim with PURE

PURE seems to take great pride in its claims service and process. If you need to file an auto or home claim with PURE, you may be able to do it in the following ways:

PURE’s claims process is a bit different from many insurance companies, starting even before a claim happens. PURE’s Member Advocates may work with you to implement loss prevention strategies for your auto and home insurance. During your claim, your Member Advocate will be your only point of contact, helping ease stress and uncertainty. Finally, after a claim is closed, a Member Advocate may help you analyze the situation so you can work to prevent the same incident from occurring in the future. PURE’s Situation Room can also contact you to warn you of imminent damage and advise you on steps to take to mitigate your losses.

PURE availability

PURE insurance is available nationwide. Specific product offerings may vary by location, so you might want to check with PURE to see what products and coverage types are available in your area.

Other PURE perks worth considering

If you’re considering PURE Insurance, the following perks may stand out and help you make your decision.

  • Mobile app: PURE’s mobile app allows you to file and track claims, access your insurance documents, pay bills and make some changes to your policies.
  • PURE Art Services: This service may be useful if you need help preserving, enhancing, managing or creating valuations for your art collection.
  • Watercraft coverage: If you have a sailboat, yacht or anything in between, PURE’s watercraft coverage may be of interest.
  • Identity theft coverage: Identity theft is becoming more common. Identity theft coverage could help you protect your finances and restore your identity.
  • Condo and co-op insurance: This coverage is specifically tailored to condo and co-op style homes and the unique risks that they face.

PURE corporate sustainability

Each year, PURE releases an annual report to its policyholders. In the 2021 report, PURE announced that it was officially a carbon neutral company. The company notes that most of its emissions come from commuting, and it is now offering stipends to employees to encourage the use of public transportation. PURE’s company fleet is also being converted to hybrid vehicles. PURE partnered with the Arbor Day Foundation and planted more than 37,000 trees in California, Colorado and Idaho.

In line with its sustainability efforts, PURE noted that it moved its investments away from fossil fuels starting in 2016. In 2021, the company made its first investment into an Environmental, Social and Governance (ESG) fund. PURE’s annual report also touches on the company’s inclusion programs and community support efforts.

PURE Insurance won’t be the right choice for everyone. If you’re interested in exploring other options, you may want to consider the following providers.

PURE vs. State Farm

State Farm is consistently one of the highest-rated insurance providers on the market. The company offers home, auto and life insurance, so if you’re looking for a provider that offers all three of these product lines, you may want to look into State Farm. However, while State Farm may provide adequate coverage for high-value homes and vehicles, its products aren’t tailored to the needs of high-net-worth clients.

Learn more: State Farm Insurance review

PURE vs. Chubb

Chubb is another major player in the high-value insurance space. Chubb’s Masterpiece policy offers robust auto and home insurance offerings, including Risk Consulting. During a risk consultation, a highly-trained Chubb risk consultant will come to your home to help you identify potential losses and put measures in place to prevent them. PURE’s Member Advocacy service takes claim prevention to another level though, so if you’re looking for that personal touch, PURE could be a better fit.

Learn more: Chubb Insurance review

PURE vs. Nationwide

If you want an auto and home insurance provider that also offers highly-rated life insurance, you may want to consider Nationwide. Nationwide won a 2022 Bankrate Award for best universal life insurance provider. Nationwide’s typical policies are available for standard individuals, but the company does have a Private Client program that gears coverage toward more high-end lifestyles. Nationwide does have a lower-than-average J.D. Power score for auto claims satisfaction. PURE wasn’t rated in the study, but if you are looking for superb claims handling, Nationwide may not be the best choice.

Learn more: Nationwide Insurance review

Is PURE a good insurance company?

With our start as the Bank Rate Monitor, Bankrate has been a trusted voice in the financial services sector since 1976. Today, we help millions of readers each year make wise decisions about a myriad of topics, including investing, credit cards, loans and insurance. Each year, our insurance editorial team uses our nearly 50 years of combined industry experience to conduct honest and comprehensive carrier reviews to help you choose the best provider for your needs.

PURE could be one of the best insurance companies for wealthy individuals. The company’s Member Advocates are one of the most outstanding features. These individuals are essentially personal insurance concierges who can guide you through identifying risks, preventing damage, recovering from losses and more. PURE doesn’t have an online quoting option, though, and it isn’t available for standard clientele. PURE may not be right for everyone, but if you have a high net worth, PURE’s products are designed specifically with your needs in mind.

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Methodology

Bankrate utilizes Quadrant Information Services to analyze 2023 rates for ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a 40-year-old male and female driver with a clean 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 coverage that meets each state’s requirements. Our base profile drivers own a 2021 Toyota Camry, commute five days a week and drive 12,000 miles annually. 

Age: Rates were calculated by evaluating our base profile with the ages 16–60 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts.

The rates for drivers ages 16–20 added to their parents’ policy reflect the good student and driver's training discounts applied. The rates for drivers aged 16–20 on their own policy do not include the good student and driver's training discounts. Additionally, 25-year-old rates are based on the driver as a renter and 30+ on the driver as a homeowner. 

Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), single speeding ticket and single at-fault accident.

Homeowners

  • Coverage A, Dwelling: $150,000, $250,000, $350,000, $450,000, $750,000
  • Coverage B, Other Structures: $15,000, $25,000, $35,000, $45,000, $75,000
  • Coverage C, Personal Property: $75,000, $125,000, $175,000, $225,000, $375,000
  • Coverage D, Loss of Use: $30,000, $50,000, $70,000, $90,000, $150,000
  • Coverage E, Liability: $300,000, $300,000, $300,000, $300,000, $500,000
  • Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).

These are sample rates and should be used for comparative purposes only. Your quotes will differ.

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