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Success Story #1

A client with a primary home in New Jersey and four rental properties in other states. The policies were a mixture of direct writers, one standard carrier and two specialty brokers.

  • Determined the home was over insured by $100,000
  • Increased deductible from $500 the $1,000 with a premium savings of $370
  • Increased Umbrella Policy limit from $1,000,000 to $2,000,000 to provide higher limits due to the rental exposures
  • Brought Automobile Liability up to comply with the Umbrella Liability minimum requirements
  • Decreased collision deductible from $2,000 to $1,000 and Comprehensive deductible from $2,000 to $250 with minimal premium impact

Success Story #2

A client with primary home, auto and umbrella in New Jersey is being serviced in a call center. She received a proposal to switch insurance companies based upon broader coverage.

  • Proposal reviewed and numerous errors were discovered
  • The home is deeded to a Family Trust. The trust was not a named insured on the policy
  • The call center in Delaware was unfamiliar with New Jersey contract language and coverages
  • Comparative quotes were inaccurate
  • Corrected coverage and premium comparisons were prepared and discussed
  • The initial estimated premium savings of 15% was not accurate; given the various mistakes there would have been an additional premium of 10%

Success Story #3

A client with a home in a prestigious neighborhood was insured with a Direct Writer. The original policy was placed 5 years ago and never updated.

  • The home was currently insured for $2,200,000 with a deductible of $500
  • An appraisal on the home estimated to actual rebuilding cost to be $3,500,000
  • The policy was placed with an insurance company that specializes in high value homes, and the deductible was increased to $5,000. Premium impact was minimal though the coverage was superior
  • Personal Liability was $300,000 and no Umbrella Policy was in force
  • The homeowners allow a church group to use their pool and tennis courts as a summer camp thus an Umbrella Liability Policy of $10mm was put into effect