Insurance question

[Scarlett]

Has anyone had any claims experience with Chubb insurance? I have a quote from my broker with them as the Insurer. John

 

[SEVEN]

Never heard of them. I use Allstate

 

[saltshaker]

Has anyone had any claims experience with Chubb insurance? I have a quote from my broker with them as the Insurer. John

Excellent company but had no idea they did yacht policies. They have the reputation of being the best for homeowners and commercial policies.

 

[racclarkson@gmail.com]

Your state insurance commission or equivalent will have various ratings for companies doing business in your state.

 

[bobk]

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

 

[captcrunch]

Chubb in general is one of the better carriers out there. It's really ace marine, ace bought Chubb but kept the Chubb name

 

[Artzco]

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.

 

[Fanfare]

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.

 

[Cricket]

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.

 

[MadHatter53]

I have them as well

 

[Cricket]

I just don't like that the people selling Allstate and SF are captive agents so they're unable to offer or shop other carriers for what's the best fit and or price for what's being insured. A good agent representing multiple carriers just has soooo much more to offer the clients.

 

[Artzco]

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.

When did they pull out? I've been with them for 10 years in FL with no questions.

 

[jrbrein]

I just don't like that the people selling Allstate and SF are captive agents so they're unable to offer or shop other carriers for what's the best fit and or price for what's being insured. A good agent representing multiple carriers just has soooo much more to offer the clients.

Any agents you might recommend?

Jon

 

[nautibake]

Any agents you might recommend?

Jon

X2 on request for broker suggestions. Irma prompted us to read every word of our policy, and contemplate the unthinkable total loss with the realization that we are woefully underinsured. After re-reading the exclusions I wonder if we even have insurance (boat version of Obamacare?). We are up for renewal in October, and at least want to explore options. Thx!

 

[Pete]

Anyone Geico insured through BoatUS that has a claim from Harvey or Irma? Wondering how that is going. Having read the policy I have in detail, except for a total loss, I am very much self insured.

Pete