Proper Insurance Are they really good as they claim themselves?

Question

I just got a quote from proper insurance (this is my first time actually considering them due to their price)

and their premium is almost $1,500 higher than other companies. (This is a multi)

I know I will never use the small claims they emphasize since they will just increase my next year's premium to cover their loss.

So I am really wondering. Are they really worth paying the extra premium? How are yall's experiences with them compare to other popular insurances such as Farmer's or Travelers?

Jason Bott · Answer

@Joel Oh we have clients with all of the insurance carriers you mention, and from a claims and service stand point, they are all top tier options.

Now Proper has some coverages available the others do not.  This is why investors consider them to be the high end choice.

At the end of the day, if your not going to file a claim under ay of the additional coverages they are offering, than I would argue, $1500 is a lot to pay because someone says "We're the best!"  In the insurance world, everyone says their the best:)

Aaron Porter · Answer

@Joel Oh Proper insurance is a great company and I have a few clients that have policies that have been put together by proper.  They have a very interesting way of structuring a policy which is part of the reason why they are almost always more expensive.

I have a few clients that have made claims against their proper policy and said that the claims process was exactly the same as any other claims process they have gone through with any other insurance carrier.

In my opinion the relationship that you have with your insurance agent is the most important thing, I am only the cheapest about 60% of the time with my clients. not to brag but they stay with me even when I am not the cheapest because of the other value that I and my agency provide them.

Kevin Hoag · Answer

@Joel Oh I do not have any experience with Proper Insurance but I have worked with many other insurance carriers. What I can say is that when shopping insurance and pricing out your policy consider purchasing a higher deductible. Use a 1k deductible as your baseline for quote and then look at a 5k deductible. The discount for the higher deductible is typically 20-25%. I always tell people with 1-5 homes to start with a lower deductible once you build up the portfolio is becomes much more worth having a higher deductible and creating large insurance saving. The money you save across multiple properties having a higher deductible will cover the cost of filing any insurance claim or give you the ability to basically "self-insure" smaller claims and only have to file a claim for larger losses.