Affluent Insurance in Marin County

Recently I wrote an article with my partner Nerdwallet which was featured on NASDAQ. The Title of the article was: Auto Insurance for the Rich Often Covers and Costs More.

The reason for the publication was to draw distinction between household known insurance carriers and some the so called Affluent Insurance Providers.

Being a Marin Based Independent Agent and Broker,I can attest to the fact living in the county may require greater coverage for many individuals.

But Why would an affluent carrier potentially be a better fit for a Marin County resident?

There are a number of reasons, but these are some of the most common:
Higher Cost of Rebuild: We all know that homes are really expensive here in the county. Likewise the cost to rebuild them has been going up up and up. Marin has so many plots of land where just getting the vehicles to the job site is a fifth of the battle. Homes routinely have Coverage A rebuild values in excess of $500 a square foot and many of the common carriers are just not interested in that cost per square foot.
Increased Net Worth: A typical homeowners policy and umbrella may be adequate for someone that has a net worth of $2MM, but when you get into the $10MM dollar range, finding an insurer that has the fewest amount of liability holes for your lifestyles is extremely important. Is your liability coverage worldwide?
Potential for increased lawsuits: When I was growing up, a dog bite, was typically settled between two neighbors exchanging medical bills. However with the advent of cosmetic surgery, parental time off of work, and increased access to lawyers, this tends not to be the case any more. Although an Affluent carrier may not necessarily provide better coverage, they may provide broader coverage in many litigious situations.

A detailed review of any potential clients risk situation is required before making the jump to and from any carrier. Obviously reading about insurance is no substitute for speaking with a licensed agent or broker in your community.

Scott W Johnson - California License 0H11625