Chubb Corporation Homeowner s Policy Review
By Janet Hunt. Insurance Company Reviews Expert
Janet Hunt has been working in the insurance industry for over 15 years. She began her career as a customer service representative for a well-known insurance carrier.
Financial strength and stability are important when searching for the right insurance company for your homeowner’s insurance needs. Chubb Corporation is financially stable and also ranks well in the areas of claims and customer service. The company has been selling its property and casualty insurance products for over 130 years to customers around the world.
with a presence in over 26 countries. The company’s history dates back to 1882 when Thomas Caldecot Chubb started a marine underwriting business insuring ships and cargoes in the seaport district of New York City.
There are 8,500 independent agents who sell the Chubb Corporation insurance products. Personal insurance products include homeowner s, auto, watercraft. valuable articles, excess liability and collector car insurance. Its assets total over $50 billion and the company has over 10,000 employees.
In 2010, Chubb was named in the top five best places to work by the Chicago Business list by ChicagoBusiness.com. It is a Fortune 500 company.
Financial Strength and Customer Satisfaction
Chubb Corporation has earned the top rating from A.M. Best for more than 75 years. It is also very highly rated by Standard Poor’s and Moody’s insurance rating organizations. Business Insurance has named the Chubb Corporation as the readers’ choice winner for the “Best Admitted Property/Casualty Insurance Company.” Some of the other notable awards include:
Continue Reading Below
- Top 100 America’s most Trustworthy Companies – Forbes
- America’s Most Admired Companies – Fortune
- Top 10 Property Casualty Insurance Company for East of Placing Business – PropertyCasualty360
- America’s 500 Best Companies for Investors – Barron’s
Homeowner s Policy
Chubb Corporation offers some great pluses with its homeowner’s policy. One of the added perks is extended replacement cost. What this means is the company will pay to rebuild your home after a covered loss even if the cost is greater than your policy limit. Very few companies offer this. Some of the other extras include:
- Free home appraisal to determine replacement cost
- Property restoration referrals for claims
- Identity fraud prevention
- Wildfire defense services (available in 14 states)
Here are some of the basic features of the Chubb Corporation homeowner’s policy:
- Extended Replacement Cost. This allows you to have repairs to restore to original condition even when the price exceeds your policy limits. It also allows you to make necessary upgrades for modern building codes.
- Multiple Policy Discount
- Credit for Valuable Articles Insurance
- Burglar Alarm
- Fire Alarm
- Sprinkler System
- New House
- Renovated House
- Gated Community Patrol Service
- Loss-free Discount
- Masonry Construction
- Suburban Rating
Pros and Cons