Homeowners the Chubb Way: Deluxe House Coverage

Chubb's Deluxe House coverage is designed expressly for distinctive or custom homes and their owners. With Chubb, you have more choices and more control over the insurance process, industry-leading service, and features not usually found in other policies, such as:

• A complimentary home appraisal. In many cases, a professional appraiser will visit your home to note any special architectural details and interior features, and help you determine the amount of coverage you need. Your appraiser also can provide security and fire prevention advice, and suggest ways to protect your valuables. No fees are involved.
• Actual rebuilding costs.* Choose our extended replacement cost option, and after a covered loss, Chubb will pay to have your home rebuilt, even if the cost is greater than the amount of your coverage. Most policies will pay only up to the policy amount, whether it covers your rebuilding costs or not. This option is available in most states.
• Rebuilding to code.* If you rebuild, you may be required to follow current, more stringent building codes for things like electrical wiring or plumbing. This could result in significant expenses. After a covered loss, Chubb will pay these additional costs if you rebuild on the same location.
• Optional cash settlement. To rebuild or not to rebuild-the decision is yours. If you decide not to rebuild after a total covered loss, you can opt for a cash payment up to the policy limit. It's your home, your policy, your choice.
• Additional living expenses. After a covered loss, Chubb will cover the increase in your temporary living expenses while your home is being rebuilt. This feature will help you maintain your normal standard of living until your home is ready.
• Full replacement costs for contents. Choose Chubb's full replacement cost coverage for your belongings, and your home contents, from sporting equipment to antique furniture, are covered for the cost to replace them. There are no deductions and no depreciation.

Chubb Personal Insurance-Our Home Appraisal Service

Determining what it would cost to rebuild your fine home

Our complimentary home appraisal service is one of the reasons agents, brokers and customers choose Chubb to insure fine homes. In the year 2002 alone, our professional appraisers conducted approximately 51,000 home appraisals for customers all over the world. The purpose of this service is to estimate what it would cost to rebuild your home so you can determine the amount of coverage you need.

The benefits of a Chubb appraisal:

• Determining replacement cost—Many insurance companies use basic insurance valuations (based on room counts, square footage, and other simple metrics) or a home's market value (the price for which your home might sell) to determine the amount of coverage. Basic valuations can substantially underestimate the costs to rebuild, especially with older homes and homes with custom features. Also, if you insure your home for its market value, you could easily pay for too much coverage if the market is high. Market value reflects a host of factors unrelated to building costs, such as the home's location or the reputation of its corresponding school system. Chubb's home appraisal service can help you determine what it would cost to rebuild your home with similar quality materials and craftsmanship, thereby allowing you to decide on the amount of homeowners coverage you need.
• Learn how to better protect your home—Chubb's specialist appraisers are trained in the essentials of fire protection and home security. While at your home, they may suggest ways you can reduce the chances of loss to life or property in your home.

How a Chubb in-home appraisal works:

• If you receive this service from Chubb, one of our approximately 200 specialist appraisers will visit your home. Our appraisers are highly trained and have expertise in a variety of fields, from architectural and interior design to fine arts and historic preservation. If you wish, they can help you locate a specialist for valuation of your home's contents and valuables.
• The Chubb appraiser will take a number of measurements and record detailed information needed to help estimate your home's rebuilding costs. The appraiser also will photograph the interior and exterior of your home to document its features, and if needed, offer recommendations aimed at reducing the potential for loss. For most homes the process takes about an hour.
• Finally, for many customers, Chubb creates a bound report detailing our appraisal and recommendations and sends it to you and your agent or broker. Based on the information in the appraisal, you can work with your insurance agent or broker to decide on an appropriate amount of coverage.

Once you and your agent or broker have reviewed the appraisal and a coverage amount has been agreed upon, you may want to consider Chubb's extended replacement cost feature. With this feature, if you have a total covered loss of your home, Chubb will pay for the actual cost to reconstruct your home, including its custom features, even if it costs more than the coverage amount.*

Want to hear what our customers are saying about our home appraisal service? Review our customer survey results and appraisals testimonials.

*Extended replacement cost is available in most states. The coverage is capped in AL, CA, FL, HI, LA, MS, SC, UT, WA and WY.

 
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