Berkley One vs Chubb

Verdict

For a house that costs more than $2 million to rebuild, a broker may well put Berkley One and Chubb side by side. Both are publicly traded groups that sell only through independent agents and brokers, and both offer guaranteed or extended replacement cost, a cash settlement option on total losses and separate valuables, flood and excess liability coverage. They differ in size, reach and track record.

Chubb is the established name. Its group ranked #8 among U.S. homeowners insurers in 2025, with $4.71 billion in premiums (2.49% of the market, per NAIC data), and its 2025 shareholder letter calls it by far the largest insurer to high-net-worth individuals. Berkley One, the personal lines unit of W. R. Berkley Corporation, started writing in Illinois in 2017. W. R. Berkley's NAIC group ranked #58 ($405.4 million, 0.21%). Berkley One quotes homeowners coverage in 30 states and the District of Columbia and quotes nothing in California, Louisiana, Mississippi or Alabama. Its online quote form asks whether replacement value exceeds $2 million, and requests below its thresholds are told the company is not a fit. Chubb sells through agents and brokers nationwide, though products vary by state.

On terms, Berkley One lists guaranteed replacement cost in most states, a cash-out option, building code upgrades and higher landscaping and loss assessment limits. Chubb says it pays to rebuild "even if the cost exceeds your policy limit," offers cash settlement, and waives the deductible in most states on covered losses above $100,000 when the base deductible is $50,000 or less. Financial strength favors Chubb at AM Best: A++ (Superior) in September 2026, against A+ (Superior) for W. R. Berkley's insurers in June 2026. Chubb placed 3rd in J.D. Power's 2026 home study and 1st in the 2025 claims study; Berkley One is not ranked in either. Berkley One's own claims promises include average first contact in under an hour and a contractor network with a three-year workmanship warranty, according to the company. Some Berkley coverage may come from a surplus lines insurer.

Choose Berkley One if

• Your home sits in one of its 30 states or DC and its replacement value is well above $2 million.
• You want guaranteed replacement cost (in most states) with a cash-out option from a group rated A+ at AM Best.
• You would use its claims commitments: contact in under an hour and a vetted contractor network.
• You want a second high-value quote to hold against Chubb's.

Choose Chubb if

• You want the higher rating (A++, with S&P AA and Moody's Aa2) and published J.D. Power results.
• Your home is in a state Berkley One does not serve, such as California (Chubb's products vary by state).
• You want Chubb's wildfire and hurricane services: Wildfire Defense Services in 19 states, Property Manager for seasonal homes.
• You want the deductible waiver on large covered losses.

Key differences

Before you decide

Ask the broker for quotes with the same Coverage A, deductibles and endorsements, and read each rebuild clause for conditions, such as keeping the dwelling limit at the appraised value. Ask whether any part of the Berkley One policy would be surplus lines. high-value home insurance: what changes above $1 million and extended and guaranteed replacement cost coverage explain what to look for, high-net-worth home insurers compared covers the rest of the market, and Financial strength ratings: AM Best, S&P, Moody's and Demotech helps you read an A++ against an A+.