Chubb High-Value Home Claims on Long Island — What Homeowners Should Know

Chubb's Masterpiece policy is the industry standard for high-net-worth homeowners coverage. It typically includes guaranteed replacement cost, broad water damage coverage, extended ALE, and high contents limits. Chubb's claims adjusters are experienced with luxury properties and generally provide a high level of service.

However, Chubb still controls the scope and pricing. On a $5 million Hamptons estate, even a well-executed estimate that misses custom materials, landscape restoration, or code upgrades can be hundreds of thousands of dollars short. The breadth of the policy means nothing if the scope is incomplete.

Even with the premier high-value carrier, we see these patterns:

Chubb policies in New York are governed by NY Insurance Law. The carrier must investigate, communicate, and settle in good faith. If your Masterpiece policy includes guaranteed replacement cost, Chubb must pay the full cost to repair or rebuild to the original quality, even if it exceeds the policy limit. If Chubb offers a cash settlement, you can demand that they pay the actual cost of repair instead.

Your policy includes an appraisal clause. On high-value homes, appraisal is particularly powerful because the scope is complex and the dollars at stake are large. A public adjuster can serve as or help you select your appraiser.

A public adjuster with luxury property experience is the key to maximizing a Chubb claim. We document custom materials and finishes, work with specialty contractors to price the real repair cost, value scheduled and unscheduled property at replacement, and ensure every coverage — guaranteed replacement cost, ordinance or law, ALE, landscape, cash settlement vs. repair cost — is fully applied.

Fees average 6–12% of the recovery, capped at 12.5% by New York law. On large claims, the percentage is at the lower end — an $800,000 house fire is 6%. No recovery, no fee. Call 516-410-0164 for a free review.