Source: Chubb – Small Business Insurance
Chubb: Restaurants Insurance Appetite
Chubb is not a typical restaurant market. They target upscale, fine-dining establishments and multi-location restaurant groups with high revenue. Their coverage is the broadest in the market, but the premium reflects that. Most independent restaurants should be placed with Nationwide, Progressive, or The Hartford. Chubb is the right choice only when the client demands the best coverage and is willing to pay for it.
Available Lines
| Line of Business |
|---|
| General Liability |
| Business Owners Policy (BOP) |
| Workers' Compensation |
| Commercial Property |
| Umbrella/Excess |
Premium Range
$3,500-$18,000
Typical annual premium
Target States
All 50 states and DC
Key Features
- Masterpiece-level property coverage with agreed value and replacement cost
- Broadest form GL coverage in the market for qualifying restaurants
- High umbrella limits available up to $25M for restaurant groups
- Worldwide coverage for restaurant chains with international locations
Limitations
- Minimum premium requirements make Chubb expensive for small restaurants
- Fast food, QSR, and casual dining typically don't meet Chubb's profile
- Bars, nightclubs, and entertainment venues are generally declined
- Liquor liability underwriting is conservative with strict guidelines
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