Always on the look for opportunities to benefit our policyholders, Arkansas Mutual is working in cooperation with PURE Specialty Insurance Company to offer our policyholders generous and competitively priced insurance for high value homes, private fleet and automobiles, jewelry, art collections, watercraft, and personal excess liability needs. PURE is a specialty insurance company built on a simple idea: The most responsible owners of the finest built homes deserve to pay lower premiums, without sacrificing quality of coverage or service.
List below are a listed a few reasons why thousands of successful families have joined PURE:
Generous and Competitively Priced Coverage
- Members report average savings of 25% per year on homeowners insurance.*
- PURE offers unique coverage advantages over most insurers. A few examples:
- High Value Homeowners: Provides up to a $50,000 sublimit for jewelry that is lost, misplaced, or stolen, as well as up to $2,500 for loss prevention measures after a property claim of $10,000 or greater.
- Private Fleet Automobile: Includes Agreed Value for total losses, allows for “betterment” after partial losses and always uses Original Replacement Parts. Members have the flexibility to insure various vehicle types on a single policy.
- Jewelry, Art & Collections: Includes a generous limit for newly acquired items in insured collections (25% of total limit purchased), and a significant discount is offered for maintaining recent appraisals.
Members Receive the Highest Level of Service
- A Member Advocate reduces administrative hassles associated with a claim and helps implement loss prevention recommendations.
- 98% of claimants would recommend PURE to a friend.**
- Complimentary risk management consultations and other services — from discounted fine art appraisals to domestic employee background checks — are offered to help reduce the long-term cost of risk.
Selective, Member-Owned Business Model
- Membership in PURE is highly selective and policies are non-assessable; each member is only liable for the cost of their policy.
- In the 2010 J.D. Power survey for customer satisfaction (Homeowners Insurance), 8 of the top 9 service providers were policyholder-owned companies.
Pure Emphasizes Alignment of Interests & Transparency
- Any net underwriting profit that PURE may produce will be credited back to the membership*** in the form of Subscriber Savings Accounts (SSAs) — proof that PURE seeks to charge the right price for insurance, not the highest the market will bear.
- For 2010, $1,000,000 of surplus growth was allocated to SSAs.
- Upon joining PURE, members sign a Subscriber’s Agreement that outlines the governance of PURE, including fees paid to management (the attorney-in-fact), and the important role of the Subscriber’s Advisory Committee.
- An Annual Report To Members creates additional transparency by detailing premiums, losses, expenses, and investments.
* Average annual savings on homeowners insurance for 900 members reporting prior carrier premium through 2/26/2009. Actual savings, if any, will vary.
** Based on respondents to PURE’s claim satisfaction survey, results as of 5/2011.
*** Allocations are not guaranteed each year and are subject to regulatory approval.