Chubb Insurance Review (2026): Masterpiece for High-Value Homes, A Local Agent’s View

High-value · High net worth · Home · NH + CT
By Jon Merwin, Founder & CEO · Reviewed by Jon Merwin, licensed insurance agent

Is Chubb worth it for a high-value home? For many high-net-worth families in New Hampshire and Connecticut, Chubb is the benchmark other carriers get measured against. Its Masterpiece policies are designed for larger and custom homes, fine art and jewelry, and yachts, and Chubb is one of the few carriers we use for the very largest homes. Portsmouth Atlantic Insurance places Chubb from our offices in Portsmouth, NH, and Stratford, CT. This review is our independent agent’s look at what Chubb does well, who it fits, and what to ask before you buy.

Who is Chubb?

Chubb’s history page says the Chubb Corporation dates to 1882, when Thomas Caldecot Chubb and his son Percy opened a marine underwriting business in New York City’s seaport district. The company took its present form in 2016, when ACE Limited acquired the Chubb Corporation and kept the Chubb name. Chubb says it has operations in 54 countries and territories (Chubb, Our History).

In the U.S., Chubb’s personal insurance for individuals and families is sold through independent agents and brokers (Chubb). That is how Portsmouth Atlantic places it for our clients.

What is Chubb’s AM Best rating?

AM Best rates the grouped insurance subsidiaries of Chubb Limited A++ (Superior) for financial strength, its highest rating, with long-term issuer credit ratings of aa+ (Superior). AM Best affirmed those ratings on January 16, 2026, with a stable outlook, and assessed Chubb’s balance sheet strength as strongest (AM Best press release). For a homeowner, that means a carrier with the capacity to handle very large claims.

What Portsmouth Atlantic places with Chubb

We place Chubb for high-value homes, condos and co-ops, valuable articles, yachts and equipment breakdown coverage. We can also place Chubb auto, but Chubb wants it written alongside your other Chubb coverage, such as a Masterpiece home policy, rather than as a standalone auto policy. If you only need high-value auto, we usually look to Hagerty, Hanover or Progressive. Cincinnati auto is also available when it is packaged with a Cincinnati home or other Cincinnati policies.

What does a Chubb Masterpiece homeowners policy cover?

Chubb’s homeowners page and its coverage materials describe a policy built for high-value homes. Here is what we point out to clients, in our own words. Exact terms, limits and availability vary by state and policy.

• Extended replacement cost. After a covered loss, Chubb says it will pay to repair or rebuild your home to its original condition even if the cost runs past your dwelling limit, including upgrades required by current building codes. This is capped or adjusted in some states.
• A cash settlement choice. After a covered total loss, if you decide not to rebuild, or to rebuild somewhere else, Chubb offers a cash settlement up to your policy limit.
• A complimentary home appraisal. A Chubb risk consultant visits to document the details that drive your rebuilding cost, from custom cabinetry to specialty finishes, and can offer security and fire prevention advice.
• Contents at replacement cost. Your belongings are covered for what it costs to replace them today, without depreciation, up to your limit. Chubb says upgraded appliances are replaced with the same or latest model.
• Living expenses without a short fixed cap. If a covered loss forces you out, Chubb helps you find comparable housing. In most states, loss of use has no stated limit.
• Matching undamaged areas. Chubb’s policies aim to match the look and quality of repaired areas to the undamaged parts of the home, such as old brick or plaster.
• Extras for complex households. Masterpiece includes coverages many standard policies leave out or sell separately, such as identity fraud expenses, lock replacement, wine and food spoilage, incidental home business and kidnap expense, plus optional family protection and cyber coverage.
• Help finding problems early. Chubb’s HomeScan service uses infrared imaging to look for hidden leaks, missing insulation and electrical hot spots before they cause damage.
• Deductible relief on large losses. Chubb says that in most states it waives the deductible on larger covered losses when certain conditions are met.

Chubb also writes condo and co-op coverage for high-rise and historic buildings, which we review against the association’s master policy and bylaws.

How Chubb keeps dwelling coverage in line with building costs

Every year, Chubb reviews construction cost trends and adjusts dwelling coverage to help homes keep up. Its review blends outside construction data with its own claims experience and input from contractors who rebuild high-value homes. The factors Chubb weighs go well beyond basic inflation:

• Labor. Skilled trades remain the biggest cost pressure in residential construction.
• Materials and codes. Some materials keep climbing in price, and stricter energy and fire codes add cost when a home is rebuilt.
• Custom work. Millwork, smart home systems and complex audio and video setups cost more than standard finishes.
• One-off rebuilds. Rebuilding a single custom home costs more per square foot than building many homes at once, especially when owners choose their own contractors, architects and designers.
• Unreported upgrades. Renovations a homeowner never mentioned to their agent can leave a home underinsured over time.
• Environmental cleanup. Remediation and abatement work can lengthen and add cost to repairs.

An annual adjustment helps, but it is not a substitute for a real review. If you have renovated, added a wing or upgraded finishes, tell us. Our guide to insurance on a $2 million home explains how we look at dwelling limits.

Expert tip
“With rising inflation, dwelling replacement costs have gone up, and the goalposts have shifted. The dwelling coverage a high-value home needs now is much higher than it was. The upside is that carriers are expanding their appetite for higher-value homes, so homeowners have more good choices.”— Jon Merwin, Founder & CEO, Portsmouth Atlantic Insurance

Chubb Masterpiece auto, packaged with your home

If your home is with Chubb, its Masterpiece auto coverage can go on the same account. Based on Chubb’s auto materials, here is what stands out to us, in our own words. Features and availability vary by state and policy.

• Agreed value option. You can set your car’s value when the policy is written, so a total loss or theft pays that amount rather than a depreciated value.
• Your choice of repair shop. You can use a dealer, your own body shop or a Chubb-certified shop, and Chubb backs repairs done at its certified shops.
• Original manufacturer parts. Chubb pays for OEM parts, which matter for cars with cameras, sensors and other advanced safety systems.
• Repair specialists in your corner. Chubb’s collision repair experts look at the whole car, not just the dented panel, and will total a car that can’t be safely repaired to the manufacturer’s standards.
• A comparable rental. While your car is in the shop after a covered loss, rental coverage is designed to put you in a similar vehicle, so an SUV owner isn’t stuck in a compact sedan.
• Privacy on totaled cars. Chubb says it works to wipe stored personal data, like addresses, contacts and garage codes, from totaled vehicles.

Chubb auto needs to be written with other Chubb lines, such as your home. For standalone high-value auto, we usually place Hagerty, Hanover or Progressive. Cincinnati auto is available when it is packaged with a Cincinnati home or other Cincinnati policies.

Chubb valuable articles coverage

A standard homeowners policy usually has tight limits for jewelry, art, wine and collectibles. Chubb’s Valuable Articles coverage insures collections separately. Chubb says jewelry is protected against most types of loss anywhere in the world with no deductible, and it offers coverage for fine art, wine and spirits, and other collections. Based on Chubb’s coverage materials, the policy can also include accidental breakage for fine art, blanket coverage options for some collection types, automatic coverage for newly acquired pieces for a limited time, and loss payment that can recognize a rise in market value on itemized pieces. Terms vary by state and policy.

Chubb Masterpiece yacht coverage

For larger boats, Chubb’s Masterpiece Yacht policy is written for pleasure yachts 36 feet and longer, with a broader Yacht Select option for eligible vessels. Here is what stands out to us for Seacoast and Long Island Sound boat owners:

• Agreed value on a total loss, with no deductible, and replacement cost for eligible newer vessels on the Select tier.
• Repairs without depreciation for most partial losses, with original manufacturer parts when available on the Select tier.
• Marinas and yacht clubs as additional insureds, which many marinas require.
• Coverage for paid crew, Oil Pollution Act liability and marine environmental fines, plus uninsured boater protection.
• Towing, search and rescue, and storm preparation costs, including the cost to move a vessel out of harm’s way, and a temporary substitute boat after a covered loss.

Availability, eligibility and survey requirements vary by vessel, state and policy. See our boat insurance page.

Chubb equipment breakdown coverage

A homeowners policy covers fire, wind and many other perils, but it usually does not pay when a furnace, central air unit or refrigerator simply fails. Chubb’s equipment breakdown coverage fills that gap for Masterpiece homeowners, condo and co-op policyholders. It is meant for sudden, accidental breakdowns, not normal wear and tear, and Chubb says it pays to repair or replace damaged equipment without depreciation.

• Essential covers permanently installed systems, such as heating and cooling, appliances, water heaters, pool equipment, well pumps, standby generators and transfer switches, and home automation and security systems.
• Enhanced adds equipment that is not permanently installed, such as computers and countertop appliances, when you also carry Masterpiece contents coverage, plus a few extras like greener replacement equipment.
• Related costs can include spoiled food, tearing out and repairing parts of the home to reach the equipment, expediting repairs, and living expenses if you lose heat, cooling or power after a covered breakdown.
• Coordinated deductibles. If one event triggers both an equipment breakdown and a homeowners claim, such as a water heater that bursts and damages a finished basement, Chubb reduces the homeowners deductible by the equipment breakdown deductible.

For New Hampshire homes on wells with standby generators, and Connecticut homes with complex HVAC and pool systems, this is one of the most practical add-ons we review. It can apply to each home you insure with Chubb and to other structures on the property, such as a guest house or barn. Availability varies by state and policy.

Who is Chubb best for?

• Owners of very large or custom homes. For homes of $10 million and up, Chubb and Cincinnati are the two carriers we use.
• Families who want broad built-in coverage. Extended replacement cost, a cash settlement option and no stated limit on loss of use in most states. See our high-net-worth insurance page.
• Collectors. Jewelry, fine art, wine and other collections can be insured on a dedicated Valuable Articles policy.
• Yacht owners. Masterpiece Yacht is built for larger pleasure vessels.
• Families who want home and cars together. Chubb auto can be added when it is packaged with a Chubb home policy.
• Homes with complex systems. Equipment breakdown coverage can protect HVAC, generators, wells, pools and smart home systems.

What are Chubb’s pros and cons?

Where Chubb fits among our high-value carriers

For homes up to $5 million, we compare Chubb with Cincinnati, Openly and National General. For homes of $10 million and up, Chubb and Cincinnati are the two carriers we use. Because we’re independent, we can quote several of these carriers for the same home and show you the differences before you decide. Read our Cincinnati Insurance review to see how the other carrier we use for $10 million-plus homes compares. See our high-value home insurance guides for Portsmouth, NH and Stratford, CT. To see how a New England mutual insurer compares, read our Andover Companies review.

New Hampshire

On the Seacoast, homeowners in Portsmouth, Rye and New Castle work with our Portsmouth office. Older homes, long driveways, wells and coastal exposure all shape how we set up a Chubb policy here.

Connecticut

Along Long Island Sound, our Stratford office works with families in Greenwich, Darien and New Canaan, where waterfront homes, art collections and boats often go on one Chubb account.

Why we place high-value clients with Chubb

We’ve been an independent agency since 2005. We’re licensed in 10 states and work with 30+ carriers, so we start with your home and your family, not one company’s form. Chubb is a carrier we trust for the largest and most complex homes, and for clients who want their home, collections, yacht and home systems protected together. We review Chubb’s terms side by side with our other high-value carriers before we recommend it.

Frequently asked questions

Is Chubb a good insurance company for high-value homes?

For many high-net-worth families, yes. AM Best rates Chubb’s insurance subsidiaries A++ (Superior), affirmed January 16, 2026, and Chubb’s Masterpiece home policy includes protections many standard policies leave out, like extended replacement cost and a cash settlement option after a total loss. We still compare it with our other high-value carriers before we recommend it.

What is Chubb Masterpiece?

Masterpiece is the name of Chubb’s personal insurance line for individuals and families, including homeowners, condo and co-op, valuable articles, yacht and equipment breakdown coverage. Chubb sells it through independent agents and brokers.

Can Portsmouth Atlantic place Chubb auto insurance?

Yes, when it is written alongside other Chubb coverage, such as a Masterpiece home policy. Chubb does not want standalone auto, so if you only need high-value auto, we usually look to Hagerty, Hanover or Progressive. Cincinnati auto is also available when it is packaged with a Cincinnati home or other Cincinnati policies.

What is Chubb equipment breakdown coverage?

It is an optional add-on to a Masterpiece homeowners, condo or co-op policy. It helps pay to repair or replace home systems and appliances that break down suddenly, such as a furnace, central air, water heater, well pump or generator. It is not meant for normal wear and tear.

How does Chubb keep dwelling coverage current as building costs rise?

Chubb reviews construction costs each year and adjusts dwelling coverage to help homes keep pace with labor, materials and building code changes. Your agent should still review your dwelling limit after any renovation or upgrade.

Sources

• Chubb, Our History
• Chubb, High Value Homeowners Insurance
• Chubb, Condo and Co-op Insurance
• Chubb, Valuable Articles Insurance
• Chubb, Yacht Insurance
• Chubb, Home Appliance and Equipment Breakdown Coverage
• Chubb, Liability Insurance
• AM Best, AM Best Affirms Credit Ratings of Chubb Limited and Its Subsidiaries (Jan. 16, 2026)

This review is general information, not a policy. Coverage, forms and availability vary by state and policy, and every policy is subject to underwriting. Your policy documents control.

Related carrier reviews: Cincinnati Insurance Review (2026) · Chubb Insurance Review (2026) · Andover Companies Review (2026) · High-net-worth insurance

Jon Merwin, Founder & CEO, Portsmouth Atlantic Insurance, Portsmouth, NH
Written and reviewed by Jon Merwin, licensed insurance agent
Portsmouth Atlantic has been an independent agency since 2005, is licensed in 10 states and works with 30+ carriers. We are the most-reviewed independent insurance agency in New Hampshire, with 1,000+ Google reviews across our two offices, and have earned over 2,000 testimonials. Meet our team.