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 as such, its insurance policies may be best suited for high-net-worth individuals with high-value cars and properties. Shoppers looking for the cheapest rate may fare better with other insurance companies.
Chubb insurance review: Our thoughts
Chubb insurance has a strong reputation for customer satisfaction and service quality across both auto and home insurance markets. 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 Chubb's website and its 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, as its annual premiums for both auto and home insurance are 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. Shoppers looking for the cheapest quote and minimum coverage may find better value elsewhere.
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 for all customers. However, Chubb's premium service quality and rare coverage offerings come at a price, so its insurance policies are most appropriate for high-net-worth individuals with high-value cars and properties. If you're simply looking for the cheapest rate, you may find better value with other auto and home insurance providers.
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. However, Chubb offers many auto insurance discounts that could provide value to those who are eligible.
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. Furthermore, Chubb's car insurance policies include several base coverages, such as worldwide rental car coverage, rarely seen among insurers, as well as several unique add-on coverage options that can be bought to supplement the standard policy. These rare coverage options may be particularly attractive to frequent international travelers and luxury car owners.
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 base coverages included in Chubb's Masterpiece auto insurance policy.
|Rare base coverages||Description|
|Choice of repair shop||Permits drivers to choose their preferred mechanic and body shop to repair their vehicle.|
|Rental car reimbursement||Pays for transportation expenses incurred when your car is being repaired. Chubb is unique in that it specifies no per-day limit and offers and industry-leading total limit of $15,000.|
|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.|
For optional coverages, we included cost estimates, based on Chubb auto insurance state filings in Idaho, though these costs may vary by state and the number of vehicles on your policy.
|Additional coverage options||Description||Average annual cost|
|Agreed value coverage||Allows drivers to determine the worth of their car, with the agreement of the insurer, at the onset of their policy. In the event of car theft or a covered total loss, Chubb will simply reimburse you for the agreed amount.||$25-100|
|Road service coverage||Offers roadside assistance, towing and pick-up services following an accident||$18|
|Lease gap coverage||Helps cover any gap between the amount owed by drivers on their vehicle and its actual cash value following an accident.||$45|
Chubb also offers specialty, collector car insurance policies that include several special coverage options for vintage or collector cars, such as no deductibles and unlimited hobby use protection.
Chubb auto insurance quote comparison
Auto insurance rates available at Chubb are generally more expensive than those offered by other insurance companies, especially for married couples.
Car insurance rates at Chubb could not compete with the low premiums quoted by Allstate, Progressive and State Farm, which are among the most popular car insurers in the US. Across all four of our driver profiles, Chubb was the most expensive auto insurance provider. Rates for a married couple (ages 27 and 30) with two cars were particularly costly, as Chubb's annual auto insurance premium was nearly $4,000 higher than that of the cheapest competitor, Progressive.
To determine how car insurance rates at Chubb compared with competitors, we collected sample quotes for four driver profiles with an annual policy in central Los Angeles, California. For the three single driver profiles, quotes were for insuring a Honda Accord, and for the married couple profile, a Toyota Prius and a Camry.
Rates vary by state and driver profile, so you should always compare auto insurance quotes to find the cheapest policy.
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.
Below we list sample discounts based on recent state filings from Arkansas and Idaho, though the specific discounts offered by Chubb may vary based on your driver profile, vehicle and location. If you are eligible for multiple discounts, your rate may be subject to a total maximum discount cap, meaning there is a limit to how much you can lower your base premium.
|Discount||How you get it|
|Multi vehicle||Have more than one vehicle insured in the same policy.|
|Accident free discount||Be a Chubb customer for an eligible number of years without an accident or claim filing.|
|Air bag||Have your vehicle equipped with at least one airbag.|
|Anti−lock braking system||Have proof or bill of sale indicating your car is equipped with an anti-lock braking system.|
|Anti-theft||Secure your vehicle with an anti-theft device such as a car alarm.|
|Defensive driving||Be a senior above the age of 65 that successfully passes an accident prevention or defensive driving course.|
|Good student or college graduate||Be a college student or graduate no more than 25 years old in good standing with your academic institution.|
Chubb homeowners insurance
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 cybersecurity.
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 coverage options
Chubb Masterpiece homeowners insurance policies include standard homeowners coverages such as dwelling, liability, personal belongings, medical payments and additional living expenses coverage, which are all typically found at other insurance companies.
However, Chubb Masterpiece also includes several coverages that are much rarer, including its extended replacement cost, cash settlement and risk consulting services, as well as several unique add-on coverage options such family protection and cyber insurance. These options may be attractive to homeowners that want the flexibility of cash payment, appraisal services or coverage options that protect 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 to not rebuild their home or to rebuild in another location.
- Risk consulting offers complimentary home appraisals as well as security and fire prevention advice.
Below we list several add-on coverage options that can be bought to supplement Chubb's base coverages in its Masterpiece homeowners insurance policy, though add-on coverage options may vary by state.
- Family protection covers medical expenses and psychiatric services for policyholders and family members following traumatic events like home invasion, carjacking or stalking. It may also pay for additional home security measures and forensic assistance to help resolve an ongoing threat, as well as related expenses such as lost wages.
- Cyber insurance covers cyber extortion, cyber financial loss and cyber personal protection for high-value home insurance policies.
Chubb condo & co-op owners insurance coverage
Chubb insurance policies for condo and co-op owners include standard coverages, as well as rarer base coverages like risk consulting and 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 can be purchased.
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. Chubb standard renters insurance policies offer rental car coverage, which is relatively rare among insurers. Furthermore, a feature especially unique to Chubb is that its rental car coverage extends worldwide when the policyholder's liability limit is at least $1 million.
Chubb flood insurance coverage
Chubb flood insurance policies are more robust than that of other private flood insurance providers and the government-sponsored National Flood Insurance Program (NFIP).
Specifically, Chubb flood insurance has coverage limits higher than 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 value-add for Chubb, as NFIP policies only offer actual value cost for personal property.
- Special limits for valuable possessions like art, collectibles, jewelry and silverware, up to $5,000 each.
- Temporary living expenses up to $7,500. While some other private flood insurance policies may cover this, NFIP does not.
- Protective measures coverage offers up to $5,000 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.
Chubb homeowners insurance quote comparison
Chubb's homeowners insurance rates are among the most expensive relative to top competitors. Although Chubb policies have standout features such as cash settlement, a home insurance policy with Chubb could cost you four times as much as what you could pay with the cheapest insurer, Allstate, across all policy limits.
To compare Chubb's homeowners' insurance rates with that of other national insurers, we collected sample quotes for three different policy limits in central Los Angeles, California.
Homeowners insurance rates vary drastically by state and property, so you should always compare quotes from several insurers to find the cheapest rate.
Chubb homeowners insurance discounts
Chubb offers a variety of discounts for home insurance primarily focused on safety and customer loyalty. Given the large pool of discounts, most of which are typical among large national insurers, customers that can qualify for these savings may be able to mitigate the high base prices of Chubb's policies. Chubb's premier client and lien free discounts, however, are relatively unique.
Below we list sample discounts based on recent state filings from Massachusetts, though the specific discounts offered by Chubb may vary based on your driver profile, vehicle and location. Some restrictions on discounts may apply to homes located in cities, as opposed to homes in suburban or rural areas. Furthermore, if you are eligible for multiple discounts, your rate may be subject to a total maximum discount cap.
|Discount||How you get it|
|Burglar alarm||Install a burglar alarm.|
|Fire resistance||Build exterior walls, floors, and roof with masonry or other fire resistant materials with a rating of two hours or more.|
|Storm shutter||Have eligible storm shutters or other windstorm protections on all exterior glass and skylights.|
|Suburban rating||Have a central station or direct fire alarm and the first responding fire department meets specific requirements in your home.|
|Gated community||Live in a gated community.|
|Gated community patrol service||Live in a gated community and have a fire and burglar alarm that alerts a 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.|
|New house||Own a house built in the last ten years.|
|Renovated house||Have renovated your home in the last six years.|
|Restoration||Restore your city home's plumbing system, electrical system, heating/AC/ventilating system, roof or facade in the past ten years.|
|Premier client||Apply for a policy in a new location and have been insured at another location for three years or more.|
|Portfolio home with auto||Have good standing in a Chubb-affiliated personal auto insurance policy.|
|Portfolio home with valuable articles||Have valuable articles coverage of an eligible limit in your Chubb homeowners insurance policy.|
|Payment history||Pay Chubb's insurance premium in full for at least two of the past five years.|
|Lien free||Have no mortgage or lien on your home.|
Chubb insurance customer service and ratings
Customers can expect excellent customer service with Chubb. In both shopping experience and claims satisfaction, Chubb has significantly better reviews than its competitors relative to its size. According to the National Association of Insurance Commissioners (NAIC), Chubb received an overall complaint index of 0.36 in 2018, which was lower than the national median index of 1.04. For personal auto insurance, Chubb's complaint index was 0.44 compared to the national median index of 1.15. For homeowners insurance, Chubb's complaint index was an impressive 0.00 relative to the national median index of 0.77.
Customers shouldn't worry about whether or not Chubb will have enough funds to pay out their insurance claims. Chubb has received an "A++" financial strength rating from A.M. Best, which is the highest possible rating for an insurer and indicates excellent financial stability.
Chubb insurance policies and company structure
As one of the largest US 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 Company, under the parent company of Chubb Holdings, or the Chubb Group of Insurance Companies. 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 Company or ACE American Insurance Company.