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Chubb

Editor's Rating

For both auto and home insurance, Chubb has an excellent reputation for customer service and offers several best-in-class coverage options rarely seen among other insurers. However, Chubb charges premium prices for premium service, and its insurance policies may be best suited for high-net-worth individuals with high-value cars and properties. Shoppers looking for the cheapest rate should consider other insurance companies.

ValuePenguin analyzed Chubb's prices, extra coverage options, customer service and unique value, and compared them to other top companies in the industry. Using those factors, we give a star rating to provide a clear picture if this company is right for you.

Full methodology

Good for
  • High-net-worth individuals looking to cover high-value cars and properties
  • Shoppers that prioritize customer service quality and want a highly personalized relationship with their insurance provider
Bad for
  • Shoppers looking for the cheapest rate

Chubb insurance review: Our thoughts

Bottom line: Chubb's excellent reputation for customer service and best-in-class coverage options make both its auto and home insurance policies worth considering.

However, Chubb's premium service quality and rare coverage offerings come at an expensive price. If you're simply looking for the cheapest rate, you may find better value with other auto and home insurance providers.

Chubb relies on a strong national network of independent insurance agents and brokers to provide its customers with personalized relationships. As a result, Chubb has few customer complaints relative to insurance market national averages.

In addition to Chubb's extensive insurance agent and broker network, Chubb offers a variety of online services, like filing a claim and chatting with a representative, on its mobile app. Chubb's service excellence is also evident in its offering of several base and add-on coverage options rarely seen at other insurance companies, including exceptionally high policy limits, cash settlement opportunities and cybersecurity protections.

Chubb's standard policies, for both auto and home insurance, are known as Chubb Masterpiece.

However, Chubb's service quality comes at a price: Annual premiums for both auto and home insurance are generally more expensive than those of top competitors. Because of these factors, Chubb insurance policies would be most attractive to high-net-worth individuals that own high-value cars and properties.

Chubb homeowners insurance

Chubb homeowners insurance coverage

Chubb offers standard homeowners insurance, as well as condo and co-op, renters and flood insurance policies. Many of the base protections included in its standard policies as well as add-on coverage options are rare, even among large national insurers, and these protections are especially valuable to high-net-worth individuals or those seeking protections from unique risks like cyberattacks.

Chubb Masterpiece homeowners insurance policies include several rare coverages, such as extended replacement cost, cash settlement and risk consulting services, as well as several unique add-on coverage options such as family protection and cyber insurance. And as with auto insurance, Chubb offers high liability limits — up to $100 million in personal liability.

These options may be attractive to homeowners that want the flexibility of cash payment, appraisal services or coverage options that protect against unique risks like home invasion and cyberattacks.

Chubb Masterpiece's rare base coverages include:

Extended replacement cost

Pays policyholders for home repairs, rebuilding costs and building code upgrades.

Cash settlement

Allows policyholders to receive a cash payout in the event of a covered total loss, should they decide not to rebuild their home or to rebuild in a different location.

Risk consulting

Offers complimentary home appraisals as well as security and fire prevention advice.

Temporary living arrangements

Coverage helps policyholders find alternative living arrangements during a covered loss. While most insurers offer this, Chubb goes the extra mile by identifying any alternative homes in the school district where you could live.

Replacement cost coverage

Ensures that all the appliances and fixtures are replaced with the same or the latest model and does not deduct for depreciation. Alternatively, policyholders can choose a cash settlement.

HomeScan

Analyzes your home to identify any potential problems in your home, such as missing insulation, electrical issues and water leaks.

Wildfire Defensive Services

Helps policyholders in certain states take proactive steps to defend their home from wildfires, as well as providing support after a fire and during the claims process.

Tree removal

Helps policyholders get rid of trees fallen after a storm.

Electronic data restoration

Helps policyholders retrieve data lost after a computer virus.

Lock replacement

Helps policyholders replace keys if they are lost or stolen.

Water backup

Covers damage resulting from interior sewers and drains.

Below we list several coverages that can be bought in addition to Chubb's Masterpiece homeowners insurance policy, though availability may vary by state.

Equipment breakdown

Pays for the full replacement or repair of your home's appliances and equipment in the event of sudden and unexpected damage. It's available in both Essential and Enhanced coverages.

Family protection

Helps policyholders pay for expenses following traumatic events like home invasion, carjacking or cyberbullying.

Cyber insurance

Cyber insurance covers cyber extortion, cyber financial loss and cyber personal protection for high-value home insurance policies.

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In addition to these coverages, Chubb offers the standard homeowners insurance coverages you'd expect to see from any major insurer: liability, personal belongings, medical payments and additional living expenses.

Chubb homeowners insurance quote comparison

Homeowners insurance premiums at Chubb are generally more expensive than rates offered by other large national insurance companies. However, Chubb offers many homeowners discounts that could garner valuable savings for eligible policyholders.

Chubb homeowners insurance vs competitors

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Insurer
Annual premium
Chubb$1,835
Allstate$1,460
Average$1,399
State Farm$1,276
Travelers$1,022

The rates above reflect costs for a New York home built in 1961 and worth $314,500. Homeowners insurance rates vary drastically by state and property, so you should always compare quotes from several insurers to find the cheapest rate.

You'll have access to standout features such as cash settlement and risk consulting, but that access comes at a far higher price point. In fact, insurance from Chubb costs 31% more than the average of the four insurers in our study.

Chubb homeowners insurance discounts

Customers can mitigate the high base prices of Chubb's policies with its extensive discount list. Discounts vary from state to state and can depend on whether you live in an urban, suburban or rural community. To give an idea of the company's offerings, however, we've listed the discounts available in New York state below:

Multipolicy

Purchase both home and auto coverage from Chubb.

Valuable articles multipolicy

Purchase $25,000 or more in valuable articles coverage from Chubb.

Burglar alarm

Install a central station burglar alarm.

Fire alarm

Install a central station fire alarm.

Fire resistance

When constructing your home's exterior walls, floors and roof, use fire-resistant materials with a rating of two hours or more.

Storm shutter

Have eligible storm shutters covering all exterior glass or other windstorm protections on all exterior glass and skylights.

Suburban rating

Have a central station or direct fire alarm in your home and live in an area where the first responding fire department meets specific requirements.

Gated community

Live in a gated community that requires identification to enter, announces visitors and protects the gate either with a guard or a lock.

Gated community patrol service

Live in a gated community with a 24-hour patrol service linked to your home's alarm systems and have a fire and burglar alarm that alerts the 24-hour patrol service to dispatch a guard to your residence.

Residential sprinkler system

Have an eligible and properly maintained sprinkler system in your living areas, basement and heating system area.

Masonry construction

Own a home constructed through masonry methods.

New house

Own a house built in the last seven years.

Renovated house

Own a house that you renovated in the last 10 years.

Chubb also offers a Superior Protection Discount for policyholders who have any combination of the following to protect their home:

  • Closed-circuit TV cameras
  • Motion-activated detection system
  • 24-hour alarm protection
  • Permanently installed backup generator
  • Temperature monitoring system
  • Explosive gas leak detector
  • Lighting protection system
  • 24/7 security guard
  • Full-time caretaker
  • Sprinkler system water-flow alarm
  • Automatic seismic shutoff valve
  • Water leak detection system
  • Perimeter gate

Chubb condo and co-op owners insurance coverage

Chubb's condo and co-op insurance stands out because it includes generous loss assessment coverage. Loss assessment coverage provides protection for damage to common area property, such as the pool or lobby, to help contribute to the condo or co-op owner's share of loss assessment. This is usually an add-on coverage at other insurers. Chubb's base coverage is $50,000, and higher limits are available in some states.

Chubb renters insurance coverage

Chubb renters insurance policies are similar to those found at other insurers, including personal property, liability and additional living expenses coverage.

However, unlike most other insurers, Chubb offers rental car coverage with its renters insurance. If your liability limit is $1 million or more, your rental car coverage is covered worldwide, ensuring that you're covered no matter where you travel.

Chubb flood insurance coverage

Chubb flood insurance policies are more robust than those of other private flood insurance providers and the government-sponsored National Flood Insurance Program (NFIP).

Specifically, Chubb flood insurance has coverage limits higher than those of most private insurers and far in excess of those of the NFIP, making it ideal for owners of homes with high property value at risk of flood damage.

Chubb flood insurance coverages include:

  • Up to $15 million in property coverage.
  • The full replacement cost to repair or rebuild your home and possessions without deductions for depreciation, up to your policy limits. Full replacement cost for property and possessions is a value-add for Chubb, as NFIP policies only offer actual cash value for personal property.
  • Up to $5,000 in multiple high-value categories, such as art, collectibles, jewelry and silverware, up to $5,000 each.
  • Up to $7,500 in temporary living expenses, with higher limits available for purchase. While some other private flood insurance policies may cover this, NFIP policies do not.
  • Up to $5,000 in protective measures coverage for expenses, such as sandbags and flood barriers, that help you proactively protect your home and property from damage when an official government flood warning is issued. This type of coverage is rare among flood insurers.
  • Additional protection for finished basements.

Chubb auto insurance

Chubb Masterpiece auto insurance policies include standard coverages, as well as some rarer coverages that may be attractive to high-net-worth individuals. Because of its excellent customer service quality and rare coverage options, auto insurance premiums at Chubb are typically more expensive than those available at other large insurers.

Chubb auto insurance quote comparison

Auto insurance rates available at Chubb are generally more expensive than those offered by other insurance companies.

Chubb auto insurance vs competitors

Bundle & Save

Auto

Home

Currently insured?

Insurer
18-year-old
25-year-old
30-year-old
Chubb$5,514$3,064$2,461
Allstate$8,694$3,341$3,122
Geico$7,712$2,300$2,018
State Farm$6,400$2,260$2,013

Just as with Chubb homeowners insurance, you have access to a lot of unique coverages with Chubb auto insurance — but you'll pay extra for them. While Allstate took the cake for the most expensive premiums out of the four insurers in our study, Chubb usually came in second.

The only exception to this rule was 18-year-olds: Our analysis found that Chubb's quotes for these young drivers were 22% more affordable than average.

If you're looking for cheap auto insurance, consider another company besides Chubb. Other insurers offer better, more affordable deals. If, however, unusual coverage and top-notch customer service are your priority, Chubb could be a solid choice. Always be sure to compare auto insurance quotes to find the cheapest policy, as rates vary by state and driver profile.

Chubb auto insurance coverage options

Chubb Masterpiece offers all the standard car insurance coverage options you'd expect from a national insurance company, including liability insurance, uninsured/underinsured motorist, personal injury protection and comprehensive and collision coverage.

Chubb stands out for the unique coverages it includes in its standard policy, as well as several unique add-on coverage options available to supplement the standard policy.

For instance, the standard Masterpiece policy includes worldwide rental car coverage, rarely seen among insurers.

Additionally, many of Chubb's standard coverages provide some of the highest limits in the industry. For example, Chubb provides up to $10 million in personal liability coverage and up to $1 million in uninsured/underinsured motorist coverage. Such high limits may be good options for high-net-worth individuals.

Below we list rare coverages available with Chubb's Masterpiece auto insurance policy.

Agreed value coverage

Agreed value coverage allows drivers of classic or exotic cars to determine the worth of their car, with the agreement of the insurer, at the onset of their policy. In the event of a total loss claim, you'll receive the agreed amount.

Choice of repair shop

Permits drivers to choose their preferred mechanic and body shop to repair their vehicle or to use a Chubb facility.

Rental car reimbursement

Pays for transportation expenses incurred when your car is being repaired.

Worldwide rental car coverage

Covers damage to a rental car anywhere in the world.

Original equipment manufacturer (OEM) parts coverage

Pays for the cost of original factory parts.

Pet injury

Pays for any injuries sustained by your pet in a covered accident, up to $2,000.

Child safety seat replacement

Replaces a child safety seat if it's damaged in a covered loss.

Lock and key replacement

Pays to replace lost, stolen or damaged keys or locks, without any deductible or out-of-pocket expense.

Personally identifiable information (PII) removal service

If your car is totaled, Chubb will remove any personally identifiable information remaining in its system.

Road service coverage

Offers roadside assistance, towing and pickup services following an accident.

Chubb also offers specialty, collector car insurance policies that include several special coverage options for vintage or collector cars, such as unlimited hobby use protection.

Chubb auto insurance discounts

Chubb auto insurance discounts are typical compared to the offerings of other large insurers. Although its discounts don't stand out, they will help you save on Chubb's expensive base auto insurance premiums. Parents, for instance, who add a child to their existing policy could save further with good student and multicar discounts.

Available discounts include:

  • Multipolicy - auto and home
  • Good student
  • Driver training
  • Accident prevention course
  • Air bag/passive restraint
  • Anti-lock brake
  • Anti-theft
  • Multicar
  • Daytime running lights

Chubb insurance customer service and ratings

Customers can expect excellent customer service with Chubb. For home insurance claims satisfaction, Chubb has significantly better reviews than its competitors. According to the National Association of Insurance Commissioners (NAIC), Chubb received an overall complaint index of 0.91 in 2020. For personal auto insurance, Chubb's complaint index was 0.67, and for homeowners insurance, the company received a 0.29. The national average is 1.00, so Chubb's scores mean that the company receives fewer complaints than expected for an insurer of its size.

Rating system
Score
NAIC - auto0.67 (lower is better)
NAIC - homeowners0.29 (lower is better)
A.M. BestA++ (superior)

Customers shouldn't worry about whether Chubb will have enough funds to pay out their insurance claims. Chubb received an "A++" Financial Strength Rating from A.M. Best, which is the highest possible rating for an insurer and indicates superior financial stability.

Chubb insurance policies and company structure

As one of the largest U.S. insurers, Chubb offers many different types of insurance policies ranging from auto and home to life, health and travel. Chubb's property and casualty division operates as the Federal Insurance Co., under the parent company of Chubb Holdings, or the Chubb Group of Insurance Cos. Because Chubb's policies are administered by a national network of independent agents and brokers, you may encounter other affiliate underwriters and subsidiaries like the Great Northern Insurance Co. or ACE American Insurance Co.

Methodology

Chubb National Insurance Co. writes the majority of its policies in New York state, so we pulled both auto and homeowners insurance quotes from ZIP codes across New York. Our sample home was built in 1961 and is worth $314,500 — the median home value in New York.

Our sample drivers were 18, 25 and 30 years old. All of them had a clean driving record and an average credit score, and all of them put 12,000 miles each year on a 2015 Honda Civic EX that they own. In addition to the basic liability coverage, each had collision and comprehensive coverage with a $500 deductible.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.