Chubb Insurance Review 2024 | Bankrate (2024)

Updated May 16, 2024

Chubb's Auto Bankrate Score of 4.3 out of 5.0 suggests the company's commitment to quality service and excellent coverage options for auto insurance. It may have scored higher, but it has relatively weak digital tools and an average premium that sits above the industry average. Therefore, Chubb may be a fitting choice for drivers seeking enhanced auto insurance coverage, particularly those who prioritize premium services over digital functionality and pricing.

Diving deeper into Chubb’s car insurance offerings, it provides a holistic suite of standard coverage types encompassing liability, comprehensive, collision and more. It offers exceptionally high coverage limits for liability and uninsured motorist coverage to those who qualify. One standout feature is Chubb’s Masterpiece auto insurance program. This program ensures that policyholders always receive original manufacturer parts for their vehicles; further, its coverage allows you to always select your repair shop of choice. In the event of a covered loss rendering the car undrivable, Chubb allows clients to rent a vehicle that matches or exceeds their original car’s standards. Its rental car coverage also extends worldwide.

Pros and cons of Chubb car insurance

When shopping for car insurance, coverage options and service may be just as important as cost for some drivers. Here’s a quick summary of the pros and cons of Chubb car insurance to make it easier to shop for the best car insurance for you:

Chubb home insurance could be a good fit for those who own high-value homes. The company’s home insurance product earned a 4.3 Bankrate Score due to its offerings, superior A++ financial strength rating from AM Best and low complaint index from the NAIC. However, the higher-than-average rates prevented Chubb home insurance from scoring any higher in our ranking model. The company did, however, win a Bankrate Award recognizing it as the best among those companies we studied for insuring high-value homes.

Chubb’s Masterpiece home insurance has many policy options designed for higher-value houses. Coverage types that are optional with other companies come standard with Chubb, which helps explain its higher average rates. For example, your policy will automatically include extended replacement cost coverage, which will help to repair or rebuild your home to its pre-damaged state, even if the cost is more than your coverage limit. You could even choose the company’s cash settlement option if you do not want to rebuild your home after a total loss.

Chubb also offers coverage for identity theft and home appliances and equipment, and its risk consulting program allows you to have a dedicated consultant visit your home to help ensure that your coverage aligns with your assets and potential vulnerability to future perils.

Pros and cons of Chubb homeowners insurance

Chubb homeowners insurance may have won a Bankrate Award for being our pick for the best for high-value homes, but there are other aspects to the carrier as well. If you’re thinking about Chubb homeowners insurance and how it compares to some of the best home insurance companies, here’s a quick summary to help you compare the company’s strengths and weaknesses when searching for home insurance quotes:

While its average rates may be higher than many other companies, Chubb's homeowners insurance offers standard coverage that is anything but standard compared to most of those companies, which may appeal to individuals looking for financial protection against damage to high-value homes. Its auto insurance is not far behind, featuring multiple add-ons to tailor the policy to your specific needs. In addition, Chubb’s AM Best financial strength rating is the highest possible, indicating that the company has met its claims obligations with no trouble, an important consideration for an insurance company.

Yet every provider has areas for potential improvement, and for Chubb, auto insurance customer experience might be one such area. Chubb’s scores in the J.D. Power studies it is rated in are typically below the industry average, indicating it may have some work to do in terms of making its customers feel satisfied with their experience.

What are real-life customers saying about Chubb?

To offer a more nuanced perspective on Chubb's home insurance, we've turned to real-life customer experiences shared on platforms like Reddit. It's important to remember that these experiences are highly individual and may not represent every customer's journey with Chubb, but they can offer useful context for those considering Chubb for their home insurance needs.

Chubb company details

• Customer service: 1-866-324-8222
• E-mail: customercare@chubb.com
• Claims: Claims can be filed online, through the mobile app, by contacting your local agent or by calling 1-800-252-4670
• Company website: https://www.chubb.com/us-en/

State availability

Chubb is available in all 50 states. However, policies, products and services may vary in terms of availability based on your location. If you have questions about a specific offering, you can reach out using Chubb’s find an agent tool to get further information.

Chubb tools and benefits

These are some of the additional tools and perks that Chubb offers as part of its home and auto insurance, as well as some other insurance types.

• Boat and yacht insurance: This coverage safeguards watercraft owners against potential losses related to their boats or yachts, from minor damages to significant mishaps at sea.
• Classic car insurance: Tailored for vintage and collector vehicles, this policy provides specialized coverage that considers the unique value and characteristics of classic cars.
• Condo insurance: Designed for condominium owners, this insurance offers protection for personal property and any parts of the unit not covered by the condominium association's policy.
• Earthquake insurance: A policy specifically for damages caused by earthquakes, filling the gap as most standard home insurance policies don't cover such natural disasters.
• Flood insurance: While standard home policies often exclude flood damages, this insurance provides coverage for losses incurred due to flooding.
• Valuable items insurance: A policy for high-value possessions like jewelry, art, or antiques, ensuring they're adequately protected against loss, theft, or damage.
• HomeScan Program: Before small issues become major problems, Chubb's HomeScan program can detect leaks, insulation gaps, and electrical anomalies, helping homeowners address them proactively.
• Agreed Value Coverage: Instead of leaving the value of your car up to debate, Chubb lets you determine its worth upfront (within certain guidelines). If your vehicle is stolen or totalled, they'll hand over a check for the predetermined amount, potentially saving you significant money.

Bankrate utilizes Quadrant Information Services to analyze May 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region.

Auto

Quoted rates are based on a single, 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:

• $100,000 bodily injury liability per person
• $300,000 bodily injury liability per accident
• $50,000 property damage liability per accident
• $100,000 uninsured motorist bodily injury per person
• $300,000 uninsured motorist bodily injury per accident
• $500 collision deductible
• $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2022 Toyota Camry, commute five days a week and drive 12,000 miles annually.

These are sample rates and should only be used for comparative purposes.

Age: Rates were calculated by evaluating our base profile with the ages 16–60 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts.

The rates for drivers ages 16–20 added to their parents’ policy reflect the good student and driver's training discounts applied. The rates for drivers aged 16–20 on their own policy do not include the good student and driver's training discounts. Additionally, 25-year-old rates are based on the driver as a renter and 30+ on the driver as a homeowner.

Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), single speeding ticket, single DUI conviction and single at-fault accident.

Homeowners

Quoted rates are based on married male and female homeowners with a clean claim history, good credit and the following coverage limits:

• Coverage A, Dwelling: $150,000, $300,000, $350,000, $450,000, $750,000
• Coverage B, Other Structures: $15,000, $30,000, $35,000, $45,000, $75,000
• Coverage C, Personal Property: $75,000, $150,000, $175,000, $225,000, $375,000
• Coverage D, Loss of Use: $30,000, $60,000, $70,000, $90,000, $150,000
• Coverage E, Liability: $500,000
• Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000 deductible, a $500 hail deductible and a 2 percent hurricane deductible (or the next closest deductible amounts that are available) where separate deductibles apply.

These are sample rates and should be used for comparative purposes only. Your quotes will differ.

Bankrate Scores

Our 2024 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.

Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.

• Cost & ratings50%

• Coverage & savings30%

• Support20%

• Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, average quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the NAIC, were analyzed.
• Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
• Tier 3 (Support): To encompass the many ways an auto and home insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from and Moody’s and factored a company’s corporate sustainability efforts.

Tier scores are unweighted to show the company's true score in each category out of a possible five points.