June 4th, 2020
Would you rather sit in traffic on the 405 or talk about insurance? Let’s be honest. Most people have already made their decision and the only remaining question is which radio station or podcast they should listen to in order to make their drive a little less painful. And yet I’ve found that homeowners and buyers of affluent properties (in national standards, anything really over $1,000,000 and with the Palos Verdes Peninsula having a median sale price of nearly $1,600,000, that qualifies!) they quickly discover the uncomfortable feeling that they are the proverbial “square peg being forced into a round hole”. So what’s the answer to the question, “how to get the best insurance for Palos Verdes homes?”
It’s no secret that personal insurance (i.e. homeowners, auto, umbrella, etc.) is boring to the general public. If I ever forget, my wife is always there to remind me with an eye roll and an enthusiastic yawn. It’s a checkbox to the average consumer and most people just go with whoever has the catchiest commercials or is most convenient at the time.
How to get the best insurance for Palos Verdes homes
But what if I told you insurance did matter; especially for South Bay homeowners who are higher earners on average than middle-America? For folks living in modest areas that are less expensive than the South Bay, that’s where these direct writer insurance companies excel – direct writers don’t shop around at several companies to provide the most competitive quotes for their clients, they only issue policies from their own company. They spend a lot of money on advertisements during your favorite shows or sports games, but fall short on service and coverage especially when it concerns successful individuals. Think about this, when was the last time you sat down with your agent? Five years… ten years… maybe longer?
Most people just pay their insurance premiums every year and call it a day. But what if I told you you’re supposed to be receiving so much more, but you’ve been taught to not expect this. Let me give you an example:
Real Life Story
We had a client who was traveling abroad with his family. His neighbor called him during the trip and said his house was on fire and there was a fireman on top of his roof, right at that moment. He panicked and called his attorney and us. As his insurance broker, we alerted his insurance company immediately who had to sit tight until the fire department put out the fire. Sadly, the majority of the home ended up being destroyed and it was later found that it was caused by something installed improperly by one of the contractors working on the ongoing renovations. The next day, the insurance company sent 8 of their people out there to help salvage the personal belongings of the family and help the family in ways that weren’t even insurance related. They were able to rent a home nearby of equal value and store the salvaged items. Additionally, they got the salvaged clothes dry cleaned and even hung them up at the house to make the family’s return as seamless as possible.
Most direct writers or smaller brokerages don’t understand the depth and complexity of what comes along with having a higher level of income. Hub International is a leading North American insurance brokerage and we focus specifically on successful individuals. We have resources and services that others don’t have. We don’t charge broker fees and we are typically more competitive due to our size and ability to shop multiple companies. Best of all, I’m local in your neighborhood and I’m a South Bay native myself.
If you’d like a complimentary analysis of your current insurance, please call or email me. I assure you it’s an efficient process and I’m confident you’ll find value from working with a fellow South Bay local who has access to resources from the largest privately owned insurance brokerage in the world.