If you are trying to determine the right insurance provider for you, this guide examines Chubb’s coverage availability, average cost, consumer ratings and available discounts. Whether you are shopping around for new auto insurance, need to cover your contents in a renters policy, or recently purchased a new home that needs to be insured, you may want to get a quote from Chubb. This insurance company is a particularly good option to consider for customers who own high-end homes and vehicles, as it caters to the luxury market.
Chubb offers consumers a comprehensive portfolio of personal insurance products and various commercial policies for business leaders. As the world’s largest publicly traded property and casualty insurance company, Chubb is an industry leader operating in over 50 countries with an A++ rating from AM Best.
Chubb auto insurance
Types of coverage
Chubb offers the same full coverage options as its competitors, along with an exceptional selection of extra coverages, including:
- Agreed value option, for collision and comprehensive coverages
- Bodily injury and property damage liability coverage, up to $10 million
- Collision coverage
- Comprehensive coverage
- Loss of use coverage, with no daily limit, up to $15,000
- Original equipment manufacturer parts
- Uninsured and underinsured motorist coverage, up to $10 million
- Vehicle rental car coverage, worldwide
Cost of Chubb auto insurance
The average annual cost for both minimum coverage and full coverage from Chubb tends to run higher than the national average premium of $565 a year for minimum liability coverage and $1,674 a year for full coverage, according to 2021 data obtained from Quadrant Information Services. However, the cost of your Chubb auto insurance policy will be based on several factors, including your location and driving record, so it is best to get a personalized quote for coverage.
| Average annual premium for minimum coverage | Average annual premium for full coverage |
|---|---|
| $711 | $2,082 |
Discounts
Chubb’s auto insurance discounts vary by state. But in most states, the provider offers just one car insurance discount:
- Up to a 10% discount for bundling auto insurance with a homeowners policy
Chubb home insurance
Types of coverage
Chubb’s standard homeowners policies include dwelling coverage, but since the company caters more to the luxury market, its policies may also come packed with additional coverages and benefits that most carriers only offer as options, including:
- Additional living expenses coverage
- Cash settlement option
- Extended replacement cost coverage
- Ordinance of law coverage
- Personal liability coverage, up to $100 million
- Personal property replacement cost coverage
- Water backup coverage
- Tree removal
- Electronic data restoration
- Lock replacement
Cost of Chubb home insurance
The Cost of your Chubb home insurance policy will depend on the size and location of your home, along with the amount of coverage you need to purchase. Home insurance can also be significantly influenced by factors out of your control, such as claim frequency and natural disasters in your state. Compared to the 2021 national average cost for homeowners insurance for $250,000 in dwelling coverage of $1,312 per year, Chubb has a higher average at $1,630 annually, according to data obtained from Quadrant Information Services.
Discounts
Although Chubb’s homeowners discounts vary by state, the insurer offers numerous ways to reduce your premium. For example, policyholders could potentially enjoy:
- Up to a 10% discount for bundling a home insurance policy with auto insurance
- Up to a 10% discount if you don’t file a claim in a three-year period
- Up to a 15% discount for installing two or more home safety or security devices
- Up to a 17% discount for homes that have been renovated within the last six years
- Up to a 21% discount for newly constructed homes, seven years old or less
Other policy discounts may be available for having a burglar alarm, fire alarm, sprinkler system, storm shutters, masonry construction, or living in a gated community.
Chubb renters insurance
Types of coverage
Chubb’s renters insurance policies include many of the same coverages as its homeowners policies, including:
- Additional living expense coverage
- Extended replacement cost coverage
- Personal liability coverage, up to $100 million
- Personal property replacement cost coverage
- Water backup coverage
Discounts
Although available discounts and discount amounts vary by state, Chubb renters insurance policyholders have many ways to reduce their rates, including:
- Up to a 5% discount for installing a central station fire alarm system
- Up to a 5% discount for homes equipped with approved fire alarms and sprinkler systems
- Up to a 5% discount for units in buildings with approved security services or systems
- Up to a 10% discount for installing a central station burglar alarm system
- Up to a 10% discount for homes located in gated communities
- Up to a 10% discount for rental units constructed with fire-resistant materials
- Up to a 10% discount for bundling renters insurance with an auto policy
Chubb ratings, reviews, customer satisfaction and complaints
Chubb ranked 19th in J.D. Power’s 2020 U.S. Home Insurance Study, earning a score of 778 out of 1,000, below the industry average. Chubb was not ranked in J.D. Powers’ renters insurance study or the 2021 U.S. Auto Insurance Satisfaction Study.
Chubb is exceptionally financially stable and earned an A++ (Superior) financial rating with AM Best, which could help ensure that any claims you file get paid in a timely manner.
Chubb’s mobile app, available for Android and Apple devices, enables you to access a digital copy of your auto insurance card, file a claim, pay your premium and view your insurance documents using a smartphone or tablet. Although there have been mixed reviews from Chubb customers, the application has improved, and Apple users rate the app at 4.3 stars, while Android users rate the app 2.5 out of five stars. The most common complaints are that the app takes too long to open, will not allow them to log in or will not open at all.
Reasons why Chubb is a good option
Chubb provides premium auto, home and renters insurance policies with high potential policy limits and lots of extra coverage options for customers who want more coverage and can afford to pay for it. The insurer’s standard home insurance policies include many coverage options that most carriers only offer as add-ons, like personal property replacement cost, ordinance of law and water backup coverages. Chubb also gives homeowners the option to take a cash settlement for a total loss instead of rebuilding.
While many providers offer barebones coverage for renters, Chubb’s standard renters insurance policies offer many of the same perks as its homeowners policies, like personal property replacement cost and water backup coverages.
Chubb also provides risk assessment services to homeowners and renters policyholders. Risk assessment professionals can help you catalog your personal belongings and find potentially costly problems in your home, such as faulty electrical connections, leaks and inadequate insulation.
Chubb’s standard car insurance policies cater to automobile owners that want premium coverage. All Chubb auto policies provide worldwide rental car coverage, OEM parts coverage and allow you to set liability and uninsured and underinsured motorist coverage limits up to $10 million. If your car needs repairs following a covered loss, Chubb allows you to choose whichever rental vehicle you want, with no per-day limits.
With standard insurance packages loaded with coverages most insurers only offer as options, Chubb is a great choice for folks who drive luxury cars and own high-value homes. It might not be the best option for people searching for the cheapest auto and home insurance options and bare-bones coverage.
Additional policies offered by Chubb
Besides auto, home and renters insurance, Chubb also offers:
- Boat and yacht insurance
- Classic car insurance
- Condo insurance
- Earthquake insurance
- Flood insurance
- Home appliances and equipment insurance
- Identity theft insurance
- Valuable items insurance
Frequently asked questions
Why should I choose Chubb?
Chubb offers premium auto, home and renters insurance policies. The insurer is a great choice if you own a high-value home or drive an expensive luxury car. Chubb offers automobile liability and home personal liability limits that you won’t find with most insurers, along with loss of use coverages that allow you to maintain your normal lifestyle following a covered loss.
Does Chubb offer discounts?
Chubb’s discounts vary by state. Although the carrier offers few auto insurance discounts, homeowners and renters policyholders can earn discounts for installing security and safety devices, making home renovations and remaining claims-free.
How can I file a claim with Chubb?
Chubb gives you three ways to file a claim. You can contact your local agent, file a claim online or call Chubb’s claims center. After you file a claim, Chubb will assign you a dedicated claims agent, typically within six hours. Chubb can also help you find alternative accommodation through its Trusted Service Network if you’re displaced from your home following a covered loss.
Do Chubb homeowners policies include earthquake and flood insurance?
Chubb’s standard home insurance and renters policies don’t cover earthquake and flood losses. However, Chubb does sell earthquake and flood insurance. If you live in an area prone to earthquakes or floods, you will need the added protection these policies provide.
Chubb’s insurance portfolio includes coverage for all types of businesses, from aerospace companies and wineries to broadcasters and financial institutions. Chubb also offers a wide range of products for families and individuals, including auto, home and renters insurance.
Methodology
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:
Auto:
- $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 coverages that meet each state’s requirements. Our base profile drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually.
Homeowners:
- Coverage A, Dwelling: $250,000
- Coverage B, Other Structures: $25,000
- Coverage C, Personal Property: $125,000
- Coverage D, Loss of Use: $50,000
- Coverage E, Liability: $300,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
These are sample rates and should only be used for comparative purposes.
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