Too many people treat insurance like a boring necessity — until it’s the only thing standing between them and disaster. They say most insurance guys sell you “coverage” — until you realize you were never really covered. On this episode of the Exit Rich Podcast, I sat down with my friend and powerhouse operator, Jimmy Loomis, COO of The Lumis Company, a third-generation family business that grew from a double-wide trailer into a 300-employee national insurance and technology firm. We dive into what it really takes to scale a legacy business, why insurance is more about operations than policies, and how getting your coverage right could be the difference between a smooth sale — or a financial nightmare.
Highlights: -The truth about self-funded health plans and stop-loss protection. -Why under-insuring before selling a business can destroy your deal. -The importance of umbrella policies and protecting your personal assets. -Lessons from three generations of leadership, legacy, and hustle. -The mindset that keeps Jimmy humble, grounded, and still first in the office.
Jimmy proves that the real winners don’t just sell insurance… They build protection around everything they’ve worked for. Because when the storm hits, it’s not about who’s cheapest — it’s about who’s covered.
Follow my guest at: -Instagram: https://www.instagram.com/the_loomis_company/ -Webpage:https://www.loomisco.com/ -Facebook: https://www.facebook.com/loomisco
Follow me on all Social Media: @LanceBachmann Exit Rich: Home Service Secrets with Lance Bachmann
Don’t wait! Get your ticket for The 7th Annual Roofing Process Conference so you can learn to grow, scale and sell your business to private equity:
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December 3-5, 2025 JW Marriott - Marco Island, FL
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Podcast
Apple: https://podcasts.apple.com/us/podcast/the-roofing-ceo-playbook-build-it-to-sell-it-with/id1778011846
Spotify: https://open.spotify.com/show/56A2PiqKz3NP6sj1nfSloP?si=f44f4d095aa64406&nd=1&dlsi=98967f24de074a6a
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Website: https://lbachmanncapital.com/
LFG #roofing #business #entrepreneurship
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