Chubb Homeowners Insurance Review 2022

Chubb targets affluent homeowners with a comprehensive suite of coverage and several useful perks.
Apr 27, 2022

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Although consumers may pay slightly more than average, Chubb home insurance policies come standard with high-end features that many other companies charge extra for. Chubb's very low number of complaints relative to its size and wide array of coverage make it one of the top homeowners insurance policies available.

Best for: Affluent homeowners who want high coverage limits and lots of perks.

How we rate homeowners insurance companies

Our star ratings are based on consumer complaint data from the National Association of Insurance Commissioners; financial strength grades from AM Best; coverage and discounts available; and the overall consumer experience. See our criteria for evaluating home insurance companies.

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Chubb home insurance pros and cons

Pros

Cons

Significantly fewer consumer complaints than expected for a company of its size.

Tends to be more expensive than other insurers.

Standard coverage includes features that many companies offer as extras.

Most consumers aren't able to get a quote online.

Large number of discounts.

How Chubb home insurance rates

5.0

NerdWallet rating 

Chubb homeowners insurance earned 5 out of 5 stars for overall performance. NerdWallet’s ratings are determined by our editorial team. The homeowners insurance scoring formula takes into account policy coverage options and discounts, ease of filing a claim, website transparency, the financial strength of the company, complaint data from the National Association of Insurance Commissioners and more.

Based on these considerations, Chubb is among NerdWallet’s Best Homeowners Insurance Companies for 2022.

State availability

Chubb homeowners insurance is available in all 50 states and Washington, D.C.

Chubb home insurance coverage

You can customize your homeowners policy with numerous add-ons, but below are the types of coverage that generally come standard:

Type of coverage

What it does

Pays to repair or rebuild the structure of your home.

Covers damage to unattached structures such as a shed or fence.

Pays to repair or replace personal belongings such as furniture or clothing.

Pays for hotel stays, restaurant meals or other expenses if you have to live elsewhere while your home undergoes covered repairs.

Covers legal expenses and damages if you're responsible for injuries to other people or their property.

Medical payments

Covers injuries to guests in your home, regardless of fault.

Chubb's Masterpiece home insurance goes beyond the coverage typically offered by other homeowners insurance carriers. Some of Chubb's standard features, which are often treated as add-ons by other insurers, include:

  • Extended replacement cost. If you need to repair or rebuild your home but the cost is more than your policy limit, Chubb will pay the difference. Chubb also covers any upgrades needed during rebuilding to bring your home up to current codes.

  • Replacement value for contents. Chubb will pay what it costs to buy new belongings if yours are stolen or damaged. Most standard policies will only give you the actual cash value of the items, which accounts for depreciation.

  • Water backup. If a sump pump fails or the sewer backs up and your home suffers water damage, Chubb covers the costs. With most companies, this is usually optional and carries a separate fee.

The Masterpiece policy also includes:

  • A complimentary visit from a risk consultant to assess your home for potential issues.

  • Chubb's HomeScan system, which uses infrared technology to analyze your home for leaks, insulation problems and electrical malfunctions before they can cause damage.

  • Chubb Wildfire Defense Services to protect your home if it’s threatened by wildfire (not available in all states).

  • Identity management services to prevent or recover from identity theft (available in some states).

You may be able to add extra coverage to your Masterpiece policy, including equipment breakdown coverage, which pays out if major appliances fail.

Chubb home insurance rates

Generally, Chubb Masterpiece is more per year than the national average homeowners insurance cost, on average. However, the Masterpiece policy offers coverage that other, less expensive policies may not.

Discounts

Many of Chubb's homeowners discounts focus on safety. In addition to discounts for having burglar or fire alarms, Chubb offers lower premiums if your home contains a sprinkler system or is otherwise fire resistant. Discounts may also be available for installing a smart leak detector that turns off your water supply if it senses a leak.

In addition, you can save if your home is new or was recently renovated, and living in a gated community will also get you a price break. Other discounts may be available as well, depending on where you live.

Consumer complaints

Chubb had significantly fewer than the expected number of home insurance complaints to state regulators relative to its size, according to three years’ worth of data from the National Association of Insurance Commissioners. (NAIC home insurance complaints also cover other home policy types, including mobile home, renters and condo insurance.)

Consumer experience

Website: Chubb's website can be challenging to use. Most will not be able to get a quote online. However, the site does provide ample information about policy features and connects you to a large library of educational content.

App: The Chubb app is available on iOS and Android. Users can pay premiums, submit claims and view home assessment reports, among other basic functions.

Homeowners insurance buying guide

You can get home insurance quotes online, over the phone or through an agent. But before you start, take the following steps:

  1. Determine how much coverage you need. Is a standard policy sufficient, or do you want to add extra insurance for situations like identity theft or sewer backups? Check whether each company you’re considering has the options you need.

  2. Take inventory. To ensure you have sufficient personal property coverage, take stock of your belongings. Include all furniture, electronic devices, clothing, jewelry and household items. How much would it cost you to replace them? This total is the minimum amount of personal property insurance you should have.

  3. Make a fair comparison. When evaluating rates, make sure each insurer is offering the same limits and deductibles.

  4. Check consumer complaints. Although it may seem tempting simply to choose the cheapest option, look at how many consumer complaints each insurer has before choosing a policy. Poor customer service could have a significant impact on your experience if you ever need to file a claim.

How to file a homeowners insurance claim

File as soon as it’s safe. The sooner you report a theft or damage to your home, the sooner your insurer can assign an adjuster and start working on paying out your claim. Some companies let you file claims online or through their app, while in other cases you may have to call your agent or insurer instead. Have your policy number handy.

Document the damage. Bolster your claim by taking photos or video of all damage. If something was stolen, report it to the police before you contact your insurance company. Your insurer may ask for a copy of their report.

Prevent further damage. After you’ve taken pictures of everything broken or destroyed, take steps to prevent additional damage. For example, you can put a tarp over a leaky roof or blown-out window. Keep receipts for any supplies you buy, as your insurer may reimburse you later.

For more information, see how to file a homeowners insurance claim.

Other home insurance companies to consider

Not ready to make a decision? You may be interested in these other homeowners insurance companies:

Frequently asked questions
What other types of insurance does Chubb offer?

Other types of Chubb insurance include auto, valuables, cyber and umbrella. Additionally, Chubb offers what it calls “bespoke services,” which customize coverage for those with specialized hobbies or professions such as collecting or farming.

Is Chubb homeowners insurance expensive?

Chubb tends to be more expensive than its competitors, but it also offers several features standard that other insurers only have as add-ons. Rates and premiums can also vary depending on a number of factors, such as your credit or the age of your home.

What is Chubb Masterpiece coverage?

Masterpiece is the name of Chubb’s homeowners insurance product. It is more comprehensive than most other companies’ standard policies and comes with liability limits up to $100 million.

Does Chubb offer coverage outside the United States?

Chubb operates in 54 countries and territories around the world, including the U.S. and Canada, Singapore, Hong Kong, Australia and New Zealand.

Methodology

Homeowners insurance ratings methodology

NerdWallet’s homeowners insurance ratings reward companies for customer-first features and practices. Ratings are based on weighted averages of scores in several categories, including financial strength, consumer complaints, coverages, discounts, online experience and more. Our “ease of use” category looks at factors such as website transparency and how easy it is to file a claim. These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews. Read our editorial guidelines.

Insurer complaints methodology

NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2018-2020. To assess how insurers compare to one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period. Ratios are determined separately for auto, home (including renters and condo) and life insurance.

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