Chubb vs Other Insurers: How Chubb Performs in Australia’s Prestige Home Insurance Market (2025 Guide)

When it comes to protecting luxury homes in Australia’s wealthiest suburbs — from Vaucluse, Bellevue Hill and Dover Heights in Sydney, to Toorak, Brighton and Canterbury in Melbourne, and Dalkeith, City Beach and Swanbourne in Perth — the choice of insurer genuinely matters. These properties aren’t standard. They feature architect-designed structures, imported materials, large-scale renovations, curated art collections and complex risk profiles that require specialist high-net-worth insurance, not retail policies.

One name that consistently appears in these conversations is Chubb. Globally recognised for insuring prestigious homes, Chubb has become one of the primary insurers used by wealth advisers, brokers and private clients who require “no-surprises” protection.

This blog explores how Chubb compares to other high-value home insurers operating across Australia’s top prestige postcodes in 2025.

A prestige coastal home in Sydney’s Eastern Suburbs — the type of high-value property where Chubb’s extended replacement cover and specialist claims support are most relevant in 2025.

Why Chubb Is Often Considered a Benchmark in Luxury Home Insurance

Chubb has built a strong reputation among high-net-worth clients, especially in suburbs such as:

• Sydney: Vaucluse, Point Piper, Bellevue Hill, Darling Point, Mosman, Hunters Hill

• Melbourne: Toorak, Brighton, Canterbury, Kew, Hawthorn, Balwyn

• Perth: Dalkeith, City Beach, Cottesloe, Swanbourne, Peppermint Grove

• Brisbane: Ascot, Hamilton, Teneriffe

In these areas, home rebuild costs commonly exceed $3M–$20M, and Chubb’s underwriting appetite tends to align with complex, high-spec builds.

Key Strengths Chubb Brings to Prestige Clients

1. Extended Replacement Coverage Chubb is known for offering extended replacement values — meaning the insurer may cover the full cost to rebuild even if it exceeds the stated sum insured. This is critical in prestige suburbs where custom materials and labour shortages can increase rebuild prices dramatically.

2. Specialist Claims Handling High-value homes come with non-standard requirements, and Chubb’s claims teams are historically regarded as among the most experienced in dealing with architectural structures, heritage features, smart-home systems and art.

3. High Sub-Limit Thresholds Unlike retail insurers, Chubb typically provides materially higher sub-limits for jewellery, fine art, collectibles and luxury items.

4. Proactive Risk MitigationThey often send out risk consultants to inspect homes in upper-tier postcodes, recommending measures for fire, storm, theft and water ingress prevention.

🔍 Where Chubb Differs From Other High-Value Insurers

Clients comparing Chubb with other premium insurers (e.g., Allianz Premier, Vero Platinum, AIG Private Client, or specialist Lloyd’s underwriters) should understand the differences below.

1. Underwriting Selectivity

Chubb tends to be more selective in some areas — for example, waterfront homes in Vaucluse, Mosman or City Beachwith extreme storm exposure. Some other insurers may be more flexible depending on the home’s build specifications.

2. Premium Levels

Premiums may sit above market average for large prestige homes, especially in suburbs with significant risk ratings (cliff exposure, bushfire zones like Kangaroo Point, or flood-prone riverfront areas in Brisbane). Clients are often paying for claim certainty, but comparisons are still important.

3. Broker-Preferred vs Direct Insurer Mix

Chubb often works closely with brokers, whereas some insurers have hybrid models or retail products. This impacts claims experience and risk advice.

🏡 Chubb’s Performance Across Australia’s Wealthiest Suburbs

Location matters in luxury insurance. Below is a suburb-based breakdown of Chubb’s relevance and typical appetite.

Sydney’s Eastern Suburbs

Vaucluse, Point Piper, Dover Heights, Rose Bay, Bellevue Hill

These homes frequently exceed $8M–$30M in rebuild cost. Chubb remains one of the more competitive options due to appetite for large structures and high-grade materials.

Lower North Shore

Mosman, Cremorne Point, Longueville, Hunters HillWaterfront risks here can vary; Chubb often insures properties with strong construction integrity.

Melbourne’s Blue-Chip Belt

Toorak, Canterbury, Hawthorn, Balwyn, BrightonHeritage restrictions and custom architecture make these homes expensive to reinstate. Chubb’s high sub-limits for art and furniture collections are often a strong fit.

Perth’s Premium Coastal Suburbs

Cottesloe, City Beach, Dalkeith, Swanbourne, Peppermint GroveSalt, wind and storm exposure are key issues. Chubb’s risk mitigation inspections are especially valued here.

Brisbane’s Prestige Areas

Ascot, Hamilton, New Farm, TeneriffeRising rebuild costs and heritage façades make extended replacement coverage extremely relevant.

📊 Comparison Snapshot: Chubb vs Other Premium Insurers (2025)

(General industry comparison only — varies per property)

Feature	Chubb	Other High-Value Insurers
Extended Replacement	Strong	Varies widely
Claims Experience	Industry-leading	Mixed
Art / Jewellery Limits	High	Often lower
Custom Build Appetite	High	Moderate–High
Pricing	Mid-High	Medium–Low depending on risk
Risk Inspections	Proactive	Not always provided

📝 When Chubb Is the Right Fit — and When It’s Not

Best For:

✔ Homes with rebuild costs > $3M

✔ Architect-designed or heritage homes

✔ Properties with fine art, jewellery or luxury item collections

✔ Suburbs with premium construction standards (Vaucluse, Toorak, Dalkeith)

May Not Be Ideal For:

✘ Homes with significant unmanaged risk (older wiring, poor roofing, heavy vegetation)

✘ Clients seeking the cheapest pricing rather than the best coverage

✘ Extremely high flood-risk properties in certain Brisbane postcodes

💬 Final Thoughts: Is Chubb Worth It for Luxury Homeowners in 2025?

For many high-net-worth homeowners across Sydney, Melbourne, Brisbane and Perth, Chubb remains one of the gold-standard options. It is not always the cheapest — but for clients who prioritise claims certainty, rebuild confidence and specialist protection, Chubb often delivers superior value.

In a prestige property market where rebuild costs continue rising and climate risks intensify, understanding how Chubb compares with other insurers helps homeowners choose cover that genuinely protects their lifestyle and assets.