Get to Know Our Insurers – Chubb

The original Chubb insurance company dates back to 1882, when it was started by Thomas Caldecott Chubb and his son Percy to insure ships and cargoes in New York City. Over the next 120+ years, the company grew and expanded its focus worldwide. In January 2016, Chubb was acquired by ACE Limited, a company that was founded in 1985 to address a lack of availability for excess liability and directors and officers insurance coverage. In the 30 years after it was founded, ACE grew rapidly, diversifying its products through strategic acquisitions, culminating in the Chubb deal.

Now, with more than $160 billion in assets and operating under the Chubb name, it is the largest publicly traded property and casualty company in the world, providing insurance products to diverse entities—from large multinational corporations to small businesses to individuals. One renowned area of concentration is serving high-net-worth individuals and families with personal risk coverages, including:


Chubb’s homeowners insurance policies come with lots of bells and whistles, from full replacement cost for damaged belongings (without depreciation, up to the dollar limit of your policy) to the option to take a cash settlement on a covered total loss if you would prefer not to rebuild or want to rebuild at another location instead.


You may choose your own repair shop or, if you don’t have one, Chubb will recommend a trusted and certified mechanic. If you need a rental car while your luxury vehicle is being repaired, you will be reimbursed up to $15,000 total with no per-day limit, which means your rental can be of comparable quality.


Art, antiques, jewelry, silver, wine, stamps, coins…any collection of value can be covered under a blanket policy or as itemized pieces. Breakage of fragile items like crystal and porcelain that are excluded on your homeowners policy are automatically covered with a valuable articles policy. And if the market value of your covered art increases immediately before a covered loss, you will be paid up to 150% of its original itemized amount (but not more than the maximum amount of coverage).


From small boats less than 27 feet in length to mega-yachts valued at $3 million or more, Chubb offers excellent coverage. For example, small boats and yachts are eligible for agreed value coverage, meaning the value is decided when the policy is taken out and will be paid in full if there is a total loss. Mega-yacht owners can access: legal defense protection; occasional charter coverage; no depreciation on machinery inside the hull, personal property, crew personal property and personal watercraft; and more.

Excess Liability

Chubb provides excess liability insurance with limits ranging from $1 million up to $50 million. Policies cover property damage and bodily injury (if someone is injured on your property and you are liable), personal injury (for lawsuits involving libel, slander or negligent infliction of bodily injury), defense costs (with no cap on coverage in most states) and excess uninsured/underinsured motorists protection (up to $1 million to you and your covered passengers if you are in an accident with an uninsured or underinsured driver).

These are just some of the features included with each type of Chubb policy. To learn more about coverage options, contact an expert insurance adviser at Kelly Klee here or call 844.885.1600.

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