chrisplotz

10 ms·

1. 1.▲
   by chrisplotz 5y ago

   In California, if you can't get fire insurance through the private market, you generally have access to the FAIR Plan ( https://www.cfpnet.com/about-fair-plan/ ). As the about page points out, it's not taxpaye
2. 2.▲
   by chrisplotz 7y ago

   > when other companies called, you could tell them you have USAA and they're acknowledge they can't match the rates This is funny, I actually do say this. I co-founded Goodcover, we provide renters insurance and USAA is an ins
3. 3.▲
   by chrisplotz 7y ago

   I have a lot of sympathy for this feeling - I am a USAA member, but through family, nothing I did. I feel fortunate that I qualify. My cofounder and I are trying to build a company a lot like you describe to bring "USAA style" t
4. 4.▲
   by chrisplotz 7y ago

   Oh bummer, but no problem, thank you for considering us!
5. 5.▲
   by chrisplotz 7y ago

   Sounds great, let us know if you have any questions! You can send your current policy to compare @ goodcover and we'd be happy to send back and apples-to-apples comparison.
6. 6.▲
   by chrisplotz 7y ago

   Thanks! Yeah it was always annoying to us that you needed to give away all your personal details before you even found out whether something would be worth it, so we wanted to be different. Glad to hear you like it! On a jobs page, thanks
7. 7.▲
   by chrisplotz 7y ago

   Thanks for your questions! So, the actual cost of the regulatory filing part isn't that high in dollars, it isn't necessarily cost prohibitive. The real issue is building a unique insurance product, the underwriting for it, the
8. 8.▲
   by chrisplotz 7y ago

   Thanks for your question. Apart from the structural difference (MGA vs. balance-sheet carrier) the main one is our business model. It allows us to offer better coverage for less money, and a Member Dividend.
9. 9.▲
   by chrisplotz 7y ago

   Good question - yes. "Home computers" would cover it. Just be sure to check the limit you're buying and that it's adequate for the amount of equipment you have.
10. 10.▲
    by chrisplotz 7y ago

    Thanks! I think (correct me if I'm wrong) you're asking about comparison sites - in those cases the law requires them to establish an agency relationship. We're open to it and think we'll compete well, but much like Sou
11. 11.▲
    by chrisplotz 7y ago

    Thanks for the feedback, that's not my intention. We're definitely not claiming we're the only innovation in 100 years. However the environment those companies started in is gone. Insurers went in and out of business all th
12. 12.▲
    by chrisplotz 7y ago

    Great question - volume of stuff is proxy for your estimated increased cost of living. More stuff, more likely to have a bigger household, higher everyday living expenses (hence, "additional living expenses" would be even more!)
13. 13.▲
    by chrisplotz 7y ago

    Thanks! And yes, great idea. So far we've been seeing a lot of landlord-provided policies, and we beat them by wide margins. By pitching ease of use and great coverage for the minimum possible tax on their tenants I hope will be a w
14. 14.▲
    by chrisplotz 7y ago

    No problem, it's important I think. It is a heavily regulated industry so we always have to be mindful of what is legal, what is going to get regulatory approval, and what we actually want that will serve Members the best. On voting r
15. 15.▲
    by chrisplotz 7y ago

    Thanks!!
16. 16.▲
    by chrisplotz 7y ago

    So, given the underlying risk, I think the premium for wildfire in CA will be going up in general with or without this. The moratorium on non-renewal only lasts one year, and really just reiterates existing law. Most insurers have been tr
17. 17.▲
    by chrisplotz 7y ago

    Thanks for the advice! As an insurance guy... I am always in need of advice from marketing folks! So thanks again.
18. 18.▲
    by chrisplotz 7y ago

    Thanks for your question, it's an important one, and deserves more than a handwave answer. When we started Goodcover, our goal was to make it so we were not in conflict with our Members - and the core of this is a cooperative model. T
19. 19.▲
    by chrisplotz 7y ago

    Firstly, I'm sorry to hear about your community, that is rough and hope people are ok. And thank you (and your fire buddies - my cousin is a wildfire-fighter) for all your work to keep your community safe! To your question on self ins
20. 20.▲
    by chrisplotz 7y ago

    Thanks!!
21. 21.▲
    by chrisplotz 7y ago

    Thanks! Yeah, if the whole industry ended up working the way we do, we'd be thrilled. To your question: Premium: Our model has granular rating for high risk areas (fire is the biggest issue there). And part of that is the defensibili
22. 22.▲
    by chrisplotz 7y ago

    Yes, for sure - Home/Condo is next, with Auto, Life and others further down the roadmap. Lots to do! But the goal is to be full service.
23. 23.▲
    by chrisplotz 7y ago

    Thanks! Yeah, reinsurance is key for sure.
24. 24.▲
    by chrisplotz 7y ago

    Thanks! Short answer, Months - but perhaps not in 2020. Definitely recommend you get renters insurance if you don't have it. More info: We have to roll out state by state, meaning we need to get approved in a state before we can do b
25. 25.▲
    by chrisplotz 7y ago

    Thanks!! Sure, will do.
26. 26.▲
    by chrisplotz 7y ago

    Thanks, and Welcome!
27. 27.▲
    by chrisplotz 7y ago

    All regions go to $50k if you up the property coverage, thanks for the feedback on the UI we'll adjust to make that more obvious. In the renters insurance market our ALE numbers are pretty normal (or better!), so wanted to get a sense
28. 28.▲
    by chrisplotz 7y ago

    Thanks!! You don't have to, but if you punch in you zip on the site and leave your email we'll let you know when we're there!
29. 29.▲
    by chrisplotz 7y ago

    Yeah there's a misconception that since insurance is an "annual contract" you are locked in for a year. Truth is the law protects the consumer - it's your right to cancel any time and your new provider can help you do i
30. 30.▲
    by chrisplotz 7y ago

    The math for any insurance pricing is basically Price = Expected Loss Severity x Expected Loss Frequency. The frequency of getting sued (Liability Coverage) is really low, hence low price, even though the expected loss is high. But yeah i