Here at Panda7, we believe in being black and white – like the pandas that we’re named for. What you see is what you get, and we value transparency and clarity above all else. That being said, we can’t always provide a quote for every customer, or finalize on a policy – online or even with a broker. The reality is that, as an insurance company, due to our underwriting guidelines, there isn’t an insurance market for everyone.
This doesn’t mean that you are uninsurable or that you are too great a risk. Panda7 wants to help all its customers find the policy that is best fitted to their needs, no matter which of our products we are helping tailor to their requirements. But we would never sell you something that isn’t what is best for you and if we can’t give you that, then we have to say no.
You’re not uninsurable
Just because Panda7 has said no to providing you with a quote or finalizing on a policy, it doesn’t mean you’re uninsurable (or that you should forgo insurance altogether – we would never suggest that!) If you are struggling to find insurance for any number of reasons, or a quote that is within your price range, we may still offer you suggestions or suggest you shop elsewhere.
We still must work within our underwriting guidelines, which may not fit you in today. In the future, they very well could – but if we have told you “no”, then it’s for good reason.
Our underwriting guidelines
With any insurance company, there’s underwriting guidelines. We’re able to handle certain risks, but not every single risk under the sun. If your circumstances are so specialized or unique that we believe you require more coverages than what we have to offer, we may say no. We could technically sell you an insurance policy, but it wouldn’t be what you need most – and that goes against what we believe.
Unfortunately, there’s also the matter of high-risk. High-risk is a difficult label because we don’t want it to sound like you’re “dangerous.” That’s simply not the truth. It could mean that the way that insurance is priced, your costs are much higher than they are for what is considered “normal.” If Panda7 went ahead and did finalize on a policy for a high-risk individual, you would need to be priced much differently than anyone else – (because we can’t expect to raise prices all around, either.) Your insurance premiums reflect your risk, and if your risk is unusually high then your prices will be, too.
In addition, there’s insurance disasters where we may limit coverage for areas that have a higher exposure to large catastrophes. Think, fire, tornadoes, etc. Panda7 might not be able to insure a large number of properties in an area that is prone to disaster like this. Risk can be a game on all sides.
There’s also unique circumstances we may not be able to insure simply due to not being able to “fully” figure out the coverage. It can be complicated, to say the least, when you want to insure a car that has all the fixings, the modifications, or if you live in an apartment complex with fifteen bathrooms. It can get confusing, and we always want to ensure that the coverage you get is the coverage that is best for you. If we don’t have a one hundred percent solution for you, we can’t do it.
Panda7 wants to support its community
Panda7 adheres to its panda namesake. We’re friendly, we’re transparent, and we love nature. If we can’t find you an insurance policy that best suits your needs, we will let you know. If we can be of service to you, trust that we will always negotiate on your behalf and advocate for you. Our services are available 24/7 through the year and we believe that the purchase of your insurance policy – no matter what product – should be an easy process.
We are positive that we can give you the tools you need to shop with confident, and although we never want you to have to file a claim, we are there for you if you do.
Panda7 fully understands its capabilities and guidelines, and we decline only out of your best interests. When you choose us, know that we help give back by planting trees per every quote we receive (and three for every policy purchased) – because we believe in community.