Testimonials > True Case History -- February 2007

True Case History -- February 2007

Husband and wife have a luxury home in the Sacramento region with a second luxury home in the Palm Springs area. They own six vehicles including luxury cars and one exotic vehicle. They have a substantial jewelry collection and an umbrella policy for $5,000,000. Approximate net-worth $10,000,000.  They have been insured by AAA for more than 30 years.

These 10 DANGEROUS gaps were identified in their AAA coverage through an exhaustive analysis using our exclusive 121 point “Circle of Safety” insurance checklist.

1. Undoubtedly, the most vital—Liability Protection Grossly Insufficient
2. Both homes were insured for less than the cost to replace them.
3. Building Code and Upgrade protection limited to only $25,000
4. No protection for back-up of Sewers and Drains
5. No Auto Liability Protection for Foreign Travel
6. Personal Property Protection for Named-Perils ONLY
7. Client has no-say in who defends them in the event of a lawsuit
8. Policy provides no money for use of personal attorney in lawsuit
9. No protection for Crisis Management
10. No Identity Fraud or Ransom Protection

If this client had suffered a claim connected to any of these insurance gaps the out-of-pocket expense would have cost them several thousands to multiple millions of dollars.

Our agency delivered the following solutions:

1. Maximized liability on auto and home and increased umbrella to $10,000,000
2. Increased home protection to replacement value (backed by a FREE personalized property inspection and appraisal) PLUS added Extended Replacement Cost Protection up to 200% of insured value
3. Building Code and Upgrade Protection included in home replacement value including Extended Replacement Cost Protection
4. Back-up of Sewers and Drains protection included with no limitation
5. Auto, Home and Umbrella liability extends protection Worldwide
6. Personal Property now covered for All-Risk Protection
7. Client can personally choose their counsel from a list of insurance company approved firms.
8. Policy provides $25,000 to involve family attorney in sessions with approved counsel
9. $25,000 provided protection for Crisis Management
10. $25,000 provided for both Identity Fraud and Ransom Protection

IN ADDITION to plugging the holes to these gaps and adding extra levels of safeguard, the new policy provided several perks and conveniences at little or no additional cost, including:

All this extra protection, coupled with our expert utilization of deductible and coordination strategies actually saved this client money over his AAA insurance.