What is a Chubb Masterpiece policy?
What is a Chubb Masterpiece policy?
Chubb Masterpiece® Homeowners Coverage Highlights. Extended Replacement Cost. With extended replacement cost coverage, after a covered loss Chubb will pay to have your home repaired or rebuilt to its original condition-even if the cost exceeds your policy limit.
What is policy wording?
Policy wording is the terms and conditions and definitions of insurance coverage as they are written down in the insurance policy. Policy wording is the terms and conditions and definitions of insurance coverage as they are written down in the insurance policy.
What is verified replacement cost?
Verified replacement cost If the payment basis is verified replacement cost, We will pay the Reconstruction Cost up to the Sum Insured shown in the Coverage Summary whether or not You actually repair or rebuild Your House.
Does Chubb insure homes in Florida?
Chubb may be a good choice for Florida homeowners with high-value homes. A few of its policy highlights include extended replacement cost coverage to rebuild your home or a cash settlement option if you decide not to rebuild after a covered loss.
What is contractors all risk insurance policy?
Contractor’s All Risk Insurance offers comprehensive and adequate protection against loss or damage in respect of contract works, construction plant and equipment and/ or construction machinery, as well as third party claims in respect of property damage or bodily injury arising in connection with the execution of a …
What is private structure coverage?
Other structures coverage is the part of a homeowners insurance policy that helps pay to repair or replace structures other than your home, such as a fence, if they are damaged by a covered risk.
What is service line coverage?
Service line coverage is insurance against unexpected expenses related to the damage of service lines on your property, such as power lines, phone and cable lines, water and sewer pipes and more. It covers the potentially costly expenses of excavation and repair of underground wiring and piping.
Why is homeowners insurance in Florida so expensive?
Why is Florida home insurance so expensive? Florida homes face some extra risks you won’t find in every state, including storms, hurricanes and flooding. Insurance companies base their rates on risk, which is why home insurance premiums are higher in states with higher risks of property damage.
