The California Department of Insurance has announced that Chubb Group of Insurance Companies is implementing a 18.4 percent homeowners insurance rate reduction that is expected to save Californians approximately $14.5 million annually. Chubb has more than 18,000 policyholders throughout California; 5,000 policies are in the Bay Area, which Chubb defines as San Francisco, San Mateo, and Santa Clara Counties, as well as Lake, Marin, Mendocino, Monterey, Napa, San Benito, San Joaquin, Santa Cruz, Solano, Sonoma, and Yolo Counties.
“This rate reduction speaks well of California’s vibrant property insurance marketplace, and Chubb is an excellent example that insurers can both serve its customers and operate profitably,” said Commissioner Steve Poizner.
On average, Chubb customers should save more than $800 annually per policy, CDI said. This reduction continues an industry trend over the last several months of rate filings with the CDI for homeowner insurance premium decreases.
Source: CDI
Topics California Homeowners Chubb
Was this article valuable?
Here are more articles you may enjoy.
Travelers: Vendor Issues Over Half of Wedding Insurance Claims in 2025 
After Complaint, GEICO Agrees to Modify Cancellation Process That Uses AI 
AI Savings Misses ‘Should Be Making Executives Uncomfortable,’ Bain Says 
Shipper Escapes $41.9M Award for Man Paralyzed When Lights Fell From Pallet on Him 
