Chubb is offering California homeowners extended replacement cost settlement after a total loss to a home, even if the customer chooses not to rebuild at their home’s original site.
After a total loss to a home, the decision to rebuild on-site or move away from a devastated area is understandably personal and emotional, the company explained. Some people may find it psychologically difficult to rebuild on the same spot, or they may just feel it could happen again.
Benefits under “Extended replacement cost” (ERC) coverage is available to all California homeowners customers with ERC, including the victims of the October, 2007 Southern California wildfires, regardless of whether the customer rebuilds on the same site or builds or purchases a new home elsewhere. Pending regulatory review and approval, Chubb intends to update California homeowners’ contracts as quickly as possible to reflect this broadening of coverage for all California policyholders.
For more information, contact Tim Dadik, Chubb’s California personal insurance manager, at e-mail tdadik@chubb.com.
Bluemax says: 
Huck Squeezy says: 
Banks Still Face Legal Claims After $25 Billion Settlement
MF Global Judge to Examine Insurance Payments for Former Executives
Daredevil CEOs May Put Companies at Risk
California Independent Contractor Law May Be Liability for Agents, Brokers
North Carolina Continues Auto Regulation Debate As Rates Stay Same for 2012
Long-time California Lobbyist Looks to 2012 Legislation Affecting Insurance
Mine Safety Chief Seeks to End Complacency Over Safety
Virginia Court Grants Rehearing of Global Warming Claims Case
