The Chubb Group of Insurance Cos. is adding up to $2,000 in coverage to its automobile policy for pets injured or killed in a crash or other covered loss. The policy will help pay to treat, board or replace domestic pets, even if they were pulled in trailers.
The coverage, now available in Arizona, Maryland, Texas and New Jersey, is one of several enhancements Chubb plans to make around the United Statesto its MasterpieceAuto Preference policy.
“Drivers with adequate health insurance know they’ll be protected in case of an auto accident, but pets are often overlooked members of the family,” said Raymond Crisci, vice president and worldwide automobile product manager for Chubb Personal Insurance. “Chubb’s pet injury coverage is designed to ensure that our policyholders’ pets get the treatment they need following an accident.”
Chubb also is adding replacement cost coverage for new vehicles to its policy. If a vehicle is totaled as a result of a covered loss in the first year of ownership, the policyholder will be able to purchase a comparable replacement vehicle with virtually no out-of-pocket expense.
Loss-of-use coverage, also known as rental reimbursement coverage, is being increased from $5,500 to $15,000, among the most generous limits available in the marketplace. In addition to paying for a rental car when a vehicle is being repaired after a covered loss, this coverage can provide reimbursement for transportation (including airline tickets) and lodging if the loss occurred more than 50 miles from home.
In addition, Chubb is expanding its lease gap coverage to pay for charges levied by a leasing company for physical damage to a vehicle caused by a covered loss. The claim for these charges must be submitted within 30 days of lease termination.
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