Equal Chance of Being Over or Underinsured

Equal Chance of Being Over or Underinsured

  • As in 2010, about 30 to 40 percent of agents reported that clients likely had too much insurance for the other structures on their property (detached garages, swimming pools, fences, and so forth), minor losses (by carrying a deductible that was unnecessarily low), and the personal property in their home.
  • But almost the same percentage of agents said these areas were likely underinsured.

Better Protection Need Not Cost More

Because HNW families overlook many savings opportunities, most agents say they can typically rebalance their personal insurance program to achieve more effective protection without significantly increasing premiums.

  • Fully 51 percent said they typically reduce premiums by 5 percent or more when they place new clients with a carrier that specializes in serving HNW families (HNW-market carrier) and then rebalance the insurance program.
  • Another 12 percent of agents say they typically keep costs within plus or minus 5 percent.

The rebalancing involves a thorough review of the client’s assets and lifestyle to identify risks as well as an assessment of tolerance for those risks. The agent must also have access to a HNW-market carrier — a carrier that: 1) specializes in serving the needs of HNW families and 2) has the flexibility and breadth of coverages to make a customized approach possible.

Equal Chance of Being Over or UnderinsuredNew Index Tracks Overall Problem

As one way of quantifying and tracking the problem of overpaying and underinsuring, ACE has created an overpayingunderinsured index by adding together the three averages of coverages being underinsured, overinsured, and savings opportunities missed. The index climbed from 84.8 in 2010 to 93.5 in 2012.

An index of zero would suggest that no problem exists. An index of 30 would represent a reasonable amount of play between perfection and reality, allowing for 10 percent in each of the three averages. An index above 80 dramatizes the widespread problem of overpaying and underinsuring among HNW families who use massmarket carriers.

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Atlanta Homes for Sale

New Listing - 3 weeks online
$275,000
Condo For Sale
Pending
2
BED
1
TOTAL BATHS
900
SQFT
Lindsysp #2
960 Taft Avenue NE
Atlanta, GA 30309
Price Change - 2 weeks ago
$289,900
Condo For Sale
Active
1
BED
1
TOTAL BATHS
746
SQFT
Piedmont Crest #106
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Atlanta, GA 30309
New Listing - 2 weeks online
$265,000
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1
BED
1
TOTAL BATHS
804
SQFT
The Gaither #12
301 10th Street NE
Atlanta, GA 30309
$324,900
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Active
1
BED
1
TOTAL BATHS
833
SQFT
Wilburn House #203
266 11th Street NE
Atlanta, GA 30309
$299,900
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
736
SQFT
Wilburn House #105
266 11th Street NE
Atlanta, GA 30309
$375,000
Condo For Sale
Pending
2
BED
2
TOTAL BATHS
1,182
SQFT
Parkgate Midtown #101
1072 Piedmont Avenue NE
Atlanta, GA 30309
New Listing - 3 weeks online
$1,099,000
Single Family Home For Sale
Pending
3
BED
3
TOTAL BATHS
3,028
SQFT
987 Myrtle Street NE
Atlanta, GA 30309
Midtown Subdivision
$799,900
Single Family Home For Sale
Pending
5
BED
3
TOTAL BATHS
3,403
SQFT
983 Myrtle Street NE
Atlanta, GA 30309
Midtown Subdivision
$235,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
907
SQFT
Piedmont Park West Lofts #303
1029 Piedmont Avenue NE
Atlanta, GA 30309
$399,000
Condo For Sale
Pending
2
BED
2
TOTAL BATHS
1,185
SQFT
Piedmont Park West #302
1029 Piedmont Avenue NE
Atlanta, GA 30309
$225,000
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
907
SQFT
Piedmont Park West Lofts #403
1029 Piedmont Avenue NE
Atlanta, GA 30309
$334,900
Condo For Sale
Active
1
BED
1
TOTAL BATHS
989
SQFT
Luxe #1701
222 12th Street NE
Atlanta, GA 30309
$520,000
Condo For Sale
Pending
2
BED
2
TOTAL BATHS
1,329
SQFT
Luxe #1508
222 12th Street NE
Atlanta, GA 30309
Open House 12/08 at 2PM
$675,000
Condo For Sale
Active
2
BED
3
TOTAL BATHS
1,732
SQFT
Luxe #1102
222 12th Street
Atlanta, GA 30309
$465,000
Condo For Sale
Active
1
BED
2
TOTAL BATHS
1,424
SQFT
Lofts At The Park Ii #301
1058 Piedmont Avenue
Atlanta, GA 30309
Price Change - 3 weeks ago
$337,000
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
960
SQFT
Parc Vue #1102
275 13th Street NE
Atlanta, GA 30309
$264,900
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
860
SQFT
Parc Vue #809
275 13th Street NE
Atlanta, GA 30309
$243,500
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
780
SQFT
Parc Vue #505
275 13th Street NE
Atlanta, GA 30309
New Listing - 3 days online
$260,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
765
SQFT
Parc Vue #506
275 13th Street NE
Atlanta, GA 30309
$245,000
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
850
SQFT
Parc Vue #307
275 13th Street NE
Atlanta, GA 30309
$399,900
Condo For Sale
Pending
2
BED
2
TOTAL BATHS
1,125
SQFT
Parc Vue #501
275 13th Street NE
Atlanta, GA 30309
Price Change - 2 weeks ago
$545,000
Townhouse For Sale
Active
2
BED
2
TOTAL BATHS
1,653
SQFT
199 12th Street #7
199 12th Street NE
Atlanta, GA 30309
$699,000
Condo For Sale
Active
2
BED
3
TOTAL BATHS
2,268
SQFT
199 12th Street #9
199 12th Street
Atlanta, GA 30309
Price Change - 2 weeks ago
$347,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
980
SQFT
Lofts At The Park #205
206 11th Street NE
Atlanta, GA 30309
$649,000
Condo For Sale
Active
2
BED
3
TOTAL BATHS
1,732
SQFT
Luxe Condo #1103
222 12th Street NE
Atlanta, GA 30309
$182,000
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
555
SQFT
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317 8th Street NE
Atlanta, GA 30309
$259,000
Condo For Sale
Active
2
BED
1
TOTAL BATHS
Stanford Court #A2
343 8th Street NE
Atlanta, GA 30309
$599,000
Single Family Home For Sale
Active
4
BED
4
TOTAL BATHS
1056 Dickson Place NE
Atlanta, GA 30309
Midtown Subdivision
$189,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
760
SQFT
Glendale Terrace #B1
885 Glendale Terrace NE
Atlanta, GA 30309
New Listing - 2 weeks online
$175,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
436
SQFT
Park View Condos #11
272 14th Street NE
Atlanta, GA 30309
New Listing - 2 weeks online
$1,785,000
Single Family Home For Sale
Active
3
BED
4
TOTAL BATHS
3,592
SQFT
900 Penn Avenue NE
Atlanta, GA 30309
Midtown Subdivision
$1,749,900
Townhouse For Sale
Active
3
BED
4
TOTAL BATHS
2,650
SQFT
1204 On The Park #2
1204 Piedmont Avenue NE
Atlanta, GA 30309
$1,799,900
Townhouse For Sale
Active
3
BED
4
TOTAL BATHS
2,650
SQFT
1204 On The Park #3
1204 Piedmont Avenue NE
Atlanta, GA 30309
$399,900
Condo For Sale
Active
2
BED
2
TOTAL BATHS
1,146
SQFT
Mayfair Renaissance #2507
195 14th Street
Atlanta, GA 30309
New Listing - 4 weeks online
$219,000
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
627
SQFT
Mayfair Renaissance #901
195 14th Street NE
Atlanta, GA 30309
New Listing - yesterday
$389,900
Condo For Sale
Active
2
BED
2
TOTAL BATHS
1,146
SQFT
Mayfair Renaissance #1507
195 14th Street NE
Atlanta, GA 30309
Price Change - 2 weeks ago
$240,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
755
SQFT
Mayfair Renaissance #712
195 14th Street NE
Atlanta, GA 30309
New Listing - 4 weeks online
$500,000
Condo For Sale
Active
2
BED
3
TOTAL BATHS
1,345
SQFT
Mayfair Renaissance #1602
195 14th Street NE
Atlanta, GA 30309
$269,900
Condo For Sale
Active
1
BED
1
TOTAL BATHS
750
SQFT
Mayfair Tower #1806
199 14th Street NE
Atlanta, GA 30309
New Listing - 2 weeks online
$394,900
Condo For Sale
Active
2
BED
2
TOTAL BATHS
1,234
SQFT
Mayfair Tower #2805
199 14th Street NE
Atlanta, GA 30309
$265,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
805
SQFT
Mayfair Tower #403
199 14st Street
Atlanta, GA 30309
Price Change - 2 weeks ago
$165,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
520
SQFT
916 Myrtle #2
916 Myrtle Street NE
Atlanta, GA 30309
$969,000
Multi-Family For Sale
Pending
0.2296
ACRES
FULTON
COUNTY
899 Charles Allen Drive NE
Atlanta, GA 30308
Midtown Subdivision
$309,850
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
1,054
SQFT
Park Central #1028
1101 Juniper Street NE
Atlanta, GA 30309
New Listing - 4 weeks online
$240,000
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
723
SQFT
Park Central #1008
1101 Juniper Street NE
Atlanta, GA 30309
New Listing - 4 weeks online
$369,900
Condo For Sale
Active
2
BED
2
TOTAL BATHS
1,169
SQFT
Park Central #423
1101 Juniper Street NE
Atlanta, GA 30309
New Listing - 3 weeks online
$359,000
Condo For Sale
Active
2
BED
2
TOTAL BATHS
1,161
SQFT
Park Central #604
1101 Juniper Street NE
Atlanta, GA 30309
$775,000
Single Family Home For Sale
Active
3
BED
3
TOTAL BATHS
2,944
SQFT
877 Penn Avenue NE
Atlanta, GA 30309
Midtown Subdivision
New Listing - 3 days online
$1,150,000
Single Family Home For Sale
Active
4
BED
3
TOTAL BATHS
4,261
SQFT
1031 Juniper Street NE
Atlanta, GA 30309
0 Subdivision
$230,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
893
SQFT
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1230 Piedmont Avenue NE
Atlanta, GA 30309
Price Change - 4 weeks ago
$699,000
Single Family Home For Sale
Pending
3
BED
3
TOTAL BATHS
3,523
SQFT
848 Durant Place NE
Atlanta, GA 30308
Midtown Subdivision
$1,599,000
Condo For Sale
Active
3
BED
3
TOTAL BATHS
2,289
SQFT
1065 Midtown #3302
1065 Peachtree Street
Atlanta, GA 30309
$1,380,000
Condo For Sale
Active
2
BED
3
TOTAL BATHS
2,289
SQFT
1065 Midtown Loews #3005
1065 Peachtree Street NE
Atlanta, GA 30309
$1,369,000
Condo For Sale
Active
2
BED
3
TOTAL BATHS
2,289
SQFT
1065 Midtown Loews #2805
1065 Peachtree Street NE
Atlanta, GA 30309
$234,900
Condo For Sale
Active
1
BED
1
TOTAL BATHS
715
SQFT
Tuscany #2223
955 Juniper Street NE
Atlanta, GA 30309
Price Change - 4 days ago
$244,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
693
SQFT
Tuscany #2317
955 Juniper Street NE
Atlanta, GA 30309
$250,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
821
SQFT
Tuscany #2228
955 Juniper Street NE
Atlanta, GA 30309
$275,000
Condo For Sale
Pending
2
BED
1
TOTAL BATHS
1,031
SQFT
Tuscany #3125
955 Juniper Street NE
Atlanta, GA 30309