According to the Chubb press release California has one of the highest numbers of uninsured and underinsured motorists in the nation. Factors such as driving record and driver characteristics will determine the rate deductions with some drivers receiving up to a 50 percent decline. If you also have a Chubb homeowner’s policy you can receive a 10 to 20 percent discount on your auto insurance.
Chubb insures a large amount of affluent drivers, of which 25 percent are uninsured according to a study by the Insurance Research Council. Chubb offers a policy called Masterpiece® Auto Preference with the following benefits:
- A customer may have a policy quoted with or without agreed value coverage, which enables a policyholder to lock in a settlement value for a covered loss for a full year. If a car is stolen or totaled in a covered loss, the policyholder will receive that amount, without deductions for depreciation or a deductible.
- Other coverage options address medical payments up to $100,000, lease gap coverage, full replacement of window glass, towing expenses, and repair or replacement of spare parts for collector vehicles.
- The choice of repair shop and original equipment manufacturer's parts;
- Worldwide auto liability coverage, when carrying at least $1 million of auto liability coverage;
- Coverage for bodily injury and physical damage when renting a car anywhere in the world and the rental car company's loss of use of that car;
- Replacement of engines, tires, batteries and shocks made necessary by a covered loss without regard to wear and tear; and
- Replacement of damaged airbags and locks without the imposition of deductibles.
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