Well-known national insurers dominate the home insurance market but specialty insurers that cover high-value homes service a segment of the market that broad-market insurers often can’t address properly. Chubb is among the largest of these high-value home insurers and with a history dating back to 1882, the now-global insurer has earned its stripes. Over the years, several competitors have emerged to service the growing market for high-net-worth households, including some providers that are new to the market. Let’s look at Chubb’s home insurance competitors and what makes them different from traditional insurers.
AIG Private Client Group (PCG)
It’s more accurate to think of AIG’s Private Client Group as a suite of insurance products tailored to the needs of high-net-worth individuals and families. In addition to home insurance for estates and high-value homes, AIG’s PCG also weaves a tapestry of insurance products to protect all types of vehicles, including auto collections, planes, and yachts. AIG’s PCG lines offer personal liability coverage as well, available in $1 million coverage increments so you can build your coverage to the specific levels you need.
As a division that specializes in luxury homes, expect AIG’s PCG to cover the extra details that make a home unique – right down to the landscaping. You can even cover additional homes outside the US through AIG’s Private Client Group. Extras like the option to get a cash settlement after a claim or coverage that pays to rebuild your home even if you exceed your coverage limit help set
AIG’s Private Client Group coverage apart from the pack.
Cincinnati Insurance Executive Capstone Program
As part of an elite group of insurers to earn an A+ Superior financial strength rating from A.M. Best, Cincinnati Insurance inspires confidence for all types of families and businesses. Households with more to protect should consider the Cincinnati Insurance Executive Capstone Program, which specializes in insuring families with homes valued at $1 million and above.
Coverages that may be extras – or not available at all – with other policies are part of the package, protecting your home up to the full cost of rebuilding, including all the special touches that make a fine home unique. Coverage for personal property with the Cincinnati Insurance Executive Capstone Program is tough to compete with; the company can cover up to 150% of the insured value for valuables, allowing for market value changes.
PURE Insurance: Privilege Underwriters Reciprocal Exchange
Born from a heritage that spans back to AIG’s Private Client Group and The Chubb Group, PURE Insurance represents a new breed of insurer uniquely aligned with the members’ interests rather 
than the whims of shareholders. PURE is largely member-owned, built on transparency, and boasts an average savings of 20% per year for members. Coverage options for PURE’s upmarket members bring a full range of personal insurance products, including fine autos, watercraft, personal excess liability, and more. Of course, the core of the company’s coverage is for high-value homes while also offering exceptional protection for personal property, collections, art, and other valuables.
Extra features you’ll find with PURE’s coverage include cash settlement options and guaranteed replacement cost coverage, like you’ll find with some other premium providers. However, you’ll also benefit from PURE’s team of Risk Managers who can identify ways to make your home safer, some of which may also earn an extra discount.
National General Premier
Known more casually as NatGen Premier, National General’s specialty insurance company for fine homes offers cost-effective coverage without sacrificing service. NatGen uses a carefully selected network of independent agents to ensure your needs are handled with expertise every step of the way. When you become a NatGen Premier client, expect a consultative experience that prioritizes confidentiality and open communication.
As you’d expect from a high-value home insurer, NatGen also offers coverage for several other personal insurance types, including personal liability and coverage for exclusive automobiles. Of course, homeowners insurance remains the cornerstone of NatGen’s coverage options and packages. Expect to find built-in coverage for cost overruns if you have a covered claim. Full replacement cost coverage is also available for personal property as well, bridging a gap often left by other policies.
Specialized policy options begin with fine homes insured for $750,000, making NatGen Premier a natural choice for a larger group of homeowners.
Berkley One
Just 3 years young, Berkley One is an ambitious upstart – but one founded by seasoned professionals from the nation’s leading insurers. Although Berkley One is relatively new, the specialty insurer is part of Berkley, which has over 50 operating units and is a proven provider with experience dating back over 40 years.
It’s fair to say that Berkley One targets clients with an active lifestyle as evidenced by the company’s travel-related coverages, but you’ll also find outstanding coverage where you need it most: at home – and ranging from fine homes and condos to prestige autos and even entire automotive collections. Higher coverage limits and guaranteed replacement cost options protect your home and belongings, while agreed value coverage for autos ensures that you’re fully covered.
More daring lifestyles need liability coverage custom-built to meet the needs of you and your family. With Berkley One, you won’t be forced to choose off-the-shelf coverage. You can customize coverage limits to match both your budget and the way you live.
Vault Insurance
Like Berkley One, Vault Insurance launched in 2017 and services high-net-worth individuals and households. Still a regional insurer based in Florida, Vault’s ambitions include growth throughout the 50 states. If your home is valued at $750,000 or higher and you’re in an area serviced by Vault, this young insurer offers a few extras you may not find elsewhere.
Flexible claim settlement and white-glove claims service are expected with premium insurers and Vault offers both. However, you’ll also find innovative options like deductibles of up to $250,000 to help keep premiums lower for those who prefer to self-insure for smaller losses. Generous sub-limits for jewelry also offer savings by covering more valuables without a need to specifically insure every item to full value. Think of Vault as a policy that offers the freedom to build your coverage your way.
Travelers
Specialty providers define the high-value homeowners insurance market, some of which are new players. However, a couple of legends in the business also offer uncompromising coverage for high value homes. With Travelers’ High Value homeowners insurance, you’ll find the unique coverage considerations that you’d expect from a policy designed for fine homes, while also enjoying the financial strength and staying power of a company with over 160 years in the business.
Extras include higher coverage limits for your home itself, but also higher limits for furs, jewelry, and even watercraft. But coverage doesn’t stop with just your home. Travelers pairs coverage intelligently, offering protection for autos, vacation homes, and boats and yachts, as well as expanded coverage for personal liability that includes libel, slander, and false arrest. These extra touches can be difficult to find elsewhere.
Nationwide Allied Insurance
Through its Allied Insurance subsidiary, Nationwide brings its nearly 9 decades of experience to the high-value home insurance market but also covers a wide range of other risks for high-net-worth individuals and households.
Like some of the other companies in the high-value space, Nationwide is a mutual insurance company, which means there are no shareholders and the company is owned by policyholders. Often this structure translates to savings but also means the focus is where it belongs: protecting members and clearing claims efficiently.
Expect plenty of extras, like Extended Dwelling Replacement Cost, which pays up to 200% of your coverage limit if rebuilding. You’ll also have a cash settlement option – and even a deductible waiver for claims that meet your policy limit.
Exclusive services available from Nationwide’s Allied Insurance prove that this isn’t a standard package with a higher coverage limit. Instead, you’ll find comprehensive coverage choices like expert consultation to help protect fine art and valuables and a personal umbrella policy that helps protect against many types of liability claims without the coverage gaps found in common home insurance policies.
Summing up the high-value home insurance carriers
For high-net-worth households, there’s never been a more consumer-focused group of carriers to choose from. However, every fine home is unique and the family it protects is invaluable. It’s essential to choose the right coverage for your individual needs. That process begins with a conversation with your independent insurance agent, an expert in coverage for affluent households and the specific risks that accompany your lifestyle. When you have more to protect, it pays to partner with experienced independent agents.
