PURE Insurance vs Vault Insurance

Verdict

PURE Insurance and Vault Insurance are close cousins in structure. Each is a policyholder-owned reciprocal exchange run by an attorney-in-fact, each sells only through independent or appointed agents and brokers, and each has a surplus lines sibling for homes the admitted exchange won't take: PURE Programs and PURE Specialty Exchange for PURE, Vault E&S Insurance Company for Vault. For high-value homes, a broker can reasonably quote both.

The differences are age, scale, backing and ratings. PURE started in 2006, and the management companies behind it have been owned by Tokio Marine since February 2020. Its NAIC group, which includes Tokio Marine's other U.S. home writers, ranked #14 in 2025 with $1.95 billion in premiums. Vault started in 2017, and its management company is majority-owned by Cornell Capital and Hudson Structured Capital Management; its group ranked #79 with $239.9 million. AM Best affirmed PURE at A (Excellent) in June 2024, and PURE still cited the rating in December 2025. It affirmed Vault at A- (Excellent) in November 2025 and revised the outlook to stable from negative, after underwriting losses in 2021 and 2022 led Vault to nonrenew admitted business without adequate rates and lean toward surplus lines.

Coverage differs in detail. PURE says its base policy automatically includes water backup and offers Subscriber Savings Accounts, a Member Advocate on larger losses and a Loss Prevention Benefit of up to $2,500. Vault Home Complete offers optional extended replacement cost above the dwelling limit, a cash settlement option after a total loss, sewer and drain backup, trust and LLC coverage, and a Vault Custom surplus lines policy with contents at replacement cost. Vault says its homeowners product is for homes valued at more than $2 million. Geography matters too. Vault's admitted exchange is not licensed in Alabama, California, Idaho, Kansas, Minnesota, New York or Wisconsin as of its August 2025 notice. PURE says it offers coverage in all 50 states.

Choose PURE Insurance if

• You want the older, larger exchange and a higher AM Best rating (A against A-).
• You value water backup in the base policy, a Member Advocate and funded loss prevention.
• You live in a state where Vault's admitted exchange is not licensed, such as New York or California.
• You want an admitted exchange first, with a surplus lines arm as the fallback for unusual homes.

Choose Vault Insurance if

• Your home is worth $2 million or more and has complex features, such as a trust or LLC owner.
• You want a cash settlement after a total loss and optional extended replacement cost.
• You like the surplus lines Vault Custom option, with contents at replacement cost and increased mold coverage.
• You want the 24/7 concierge line and the claims response Vault says averages two hours.

Key differences

Before you decide

Ask for quotes with the same Coverage A, deductibles and endorsements, and have the broker confirm which company is named on the declarations page, because a surplus lines policy lacks rate and form approval and generally lacks guaranty fund protection. admitted vs surplus lines home insurers: what you give up explains the difference, and reciprocal exchanges: how they work covers the ownership model they share. high-net-worth home insurers compared and Financial strength ratings: AM Best, S&P, Moody's and Demotech help you place both in the wider market.