The States That Western National writes in
Western National in 2017 provided property and casualty coverage for nearly 100,000 homes in the following states: Arizona, California, Colorado, Hawaii, Idaho, Nevada, New Mexico, Utah and Texas.
Why do they write in these states?
“This is a special group of states,” explained Tom Baker of Clark Insurance, a partner of the firm. “California, Florida, Texas and New Mexico are very popular. You can get some really good policies there.”
The 10 states listed above are considered some of the most “snow country” states in the country, a factor the group loves. It’s a sentiment that seemed to resonate among their prospects.
“We have, I would say, the largest market share of Western National in Arizona,” noted Niewalt, who has been the president of the group for 12 years.
Currently, Western National writes about $125 million in property insurance, which includes both home and automobile policies.
What is Western National’s clientele?
Western National writes in the top 10 states in the country for homeowners, including California, Arizona, Colorado, New Mexico, Nevada, Utah and Texas.
Are they the top homeowners insurer in any of these states?
“I would say yes, very strong in Texas,” said Phelan. “We’ve seen a lot of growth in California, Arizona and Nevada as well.”
How is Western National ranked?
Western National is ranked in the Top 10 property & casualty insurers in three categories on the 2018 Thumbtack Consumer Insights Survey. The group is in the top 5 homeowners insurers and the top 10 overall “Platinum rated” companies, both of which show high customer satisfaction. Thumbtack provides homeowners insurance quotes to consumers on its website.
How long has Western National been writing insurance?
“Western National began writing insurance more than 45 years ago.”
What are the biggest risks that you are looking out for when writing insurance?
“While we provide homeowners’ insurance to consumers, as the name implies, we write for contractors and businesses, which makes us well-versed in the risks they face. We also insure emergency vehicles and their drivers.”
If someone who was a bad driver and a contractor were to both bring their vehicle to your company, what insurance would you write them both a policy for?
“The liability component will vary by state, but in most states, contractors will be insured for personal injury or property damage if they are involved in an accident and the property is damaged, or destroyed.
“There is a good chance I’ll be buying more shares in Western National for the Dividend Diplomats Dividend Growth Stock portfolio. We added a couple of shares on 8/20/2018 in anticipation of the dividend payment. At the current price, WNY is trading at a little less than 12% of its previous all-time high. The business looks like a compelling asset purchase at these levels.