Has anyone had any claims experience with Chubb insurance? I have a quote from my broker with them as the Insurer. John
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Thread: Insurance question
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Insurance question
Mahalo V
1974 53 Motoryacht
Hull Number 406
San Diego, Ca. Ready 32 Nordic Tug, Brunswick Ga.
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Re: Insurance question
Never heard of them. I use Allstate
SEVEN
1979 53' MY Hull #563
Antioch, California
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Re: Insurance question
Your state insurance commission or equivalent will have various ratings for companies doing business in your state.
Semper Siesta
Robert Clarkson
ASLAN, 1983 55C #343
Charleston, SC
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Re: Insurance question
Chubb is a good company. I would also look into Travelers. Many companies are changing their deprecation deductions so be sure to read the policy carefully.
Bobk
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08-18-2017 10:58 AM #6Senior Member
- Join Date
- Jun 2015
- Posts
- 339
Re: Insurance question
Chubb in general is one of the better carriers out there. It's really ace marine, ace bought Chubb but kept the Chubb name
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Re: Insurance question
Not sure how it will be with ACE buying Chubb, but I've had ACE over last 10 years with 3 boats in FL. Luckily I've never had a claim and they didn't jack up my rate with boats in FL.
Art
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Re: Insurance question
I had insured with ACE for several years until they pulled their marine business out of Florida, cancelling me despite no claims. So I went with Chubb after about six months looking for a company which would insure a 50 year old boat. This was satisfactory--I send them money but still have had no claims so don't know how cost-effective this could be. Then, about two years ago ACE bought Chubb. I mentioned to my agent that this worried me as I was afraid this would happen again. But so far so good. We'll see.
Jim Grove, Fanfare 1966 50MY Hull #22 (Delivered Jan. 7, 1966)
"LIFE IS JUST ONE DAMNED THING AFTER ANOTHER." Frank Ward O'Malley, Journalist, Playwright 1875-1932
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Re: Insurance question
Work in the property insurance claims space as a vendor. Pre ACE, Chubb was the premier personal and commercial US carrier by far. I'm not sure they're as great as they once were but still better than all most all of the other carriers. It's really more that some others are trying to come up to Chubb's level than anything else with policies for high net worth clients. One piece of advise for everyone, especially with home owner policies is to review how long and what expenses they will cover if you're unable to live in the house/condo/apartment. Most policies do not provide enough time to rebuild/replace the property, especially the likes of Allstate and State Farm. As an example, had a relative living in a high rise condo, fire on the roof with water damage to the top 3 or 4 floors. They were out of the unit for 11 months, Chubb picked up everything including their meals to live in a very nice hotel. The Allstate and SF policy holders only had 60 or 90 days of expenses covered, the difference in premiums from Chubb to the others was in the $200-$400 range more.
Travelers is also a very good carrier for boats, etc.Last edited by Cricket; 08-18-2017 at 01:37 PM.
CRICKET
1966 HAT50C101
Purchased 1985 12v71Ns
Repowered 1989 with 8v92TI
Repowered 2001 with 3406E
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Re: Insurance question
I have them as well