A home is so much more than the bricks, mortar, and lumber used to build it, especially for your high net worth clients. It’s full of memories, private collections, and cherished belongings–and your client’s personality and interests are reflected in every exquisite detail. If your client experiences a claim, they want more than a check from the insurance company. They want their life back, and they want to be able to rebuild their home without hassles, headaches, or delay.
Risk Innovations partners with Chubb Insurance to guarantee your successful clients have the protection they need and deserve. Here are just a few key features that differentiate their coverage suite from standard markets:
Extended Replacement Cost: Chubb will pay to have your client’s home repaired or rebuilt to its original beauty after a covered loss, even if the cost exceeds their policy limit. In the case of older homes, frequently there will be required upgrades due to the changes in modern building codes—and many policies don’t cover that extra expense. But with Chubb Insurance, your client can put their mind at ease—all necessary upgrades are fully covered.
Cash Settlement: The worst-case scenario for any homeowner is having a total loss on their home from a fire or natural disaster. Most insurance companies only cover you if you rebuild on the same location, but in the case of a natural disaster, the property owner may not want to rebuild in that area. With a homeowner’s policy from Chubb, your client can take a cash settlement up to their policy limit if they decide not to rebuild, or to rebuild at another location after a total loss. The choice is theirs.
Risk Consulting: Chubb offers complimentary home appraisals. Their highly trained appraisers will visit your client’s home to carefully note the things that turned their house into a home and make sure your client is fully protected with the correct kind of insurance. Art collections, furs, and jewelry are some examples of items not covered under a normal homeowner’s policy, and require special insurance riders to cover a loss. Chubb’s appraisers also assist with security and fire prevention advice.
Temporary Living Arrangements: If your client’s home cannot be lived in due to a covered loss and they need a temporary residence while their house is rebuilt, Chubb will help them find a place to stay. The goal is to take the headache of looking for housing off the plate of your client, and to locate a similar type of home in their community if available, or a suitable hotel where your client will be comfortable.
Replacement Cost Coverage: If things inside your client’s home are damaged, Chubb will replace those contents at full replacement cost coverage; whether it is appliances, custom cabinets, flooring or carpentry. In addition, Chubb will replace upgraded appliances based on the exact or latest model available. We’ll make sure your client’s belongings are covered for the amount it costs to replace them today, without deduction for depreciation, up to the limit your client chose on their policy. If for some reason your client does not want to replace those items, they may choose to take a cash settlement instead. The choice is always theirs.
The Extras: Most insurance companies have many exclusions, and a client has to pay extra to get the coverage they need. Rest assured, the extras aren’t extra with Chubb Insurance. A Chubb homeowners policy provides extra coverages to help protect your client’s in unexpected situations, ranging from tree removal after a storm, restoration of electronic data destroyed by a computer virus, or lock replacement if their keys are lost or stolen. Chubb clients can also benefit from other services such as HomeScan, Wildfire Defense, Hurricane Protection Assistance, Identity Management Assistance and more.
Risk Innovations specializes in High Net Worth and Surplus Lines Insurance. Our staff of expert underwriters is ready to help your clients secure the coverage they need to be fully protected when the unexpected happens.