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, as well as several safety-focused discounts. 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.
Chubb home insurance
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 2021.
Pros and 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.|
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.)
Chubb homeowners insurance is available in all 50 states and Washington, D.C.
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|
|Dwelling||Pays to repair or rebuild the structure of your home.|
|Other structures||Covers damage to unattached structures such as a shed or fence.|
|Personal property||Pays to repair or replace personal belongings such as furniture or clothing.|
|Additional living expenses||Pays for hotel stays, restaurant meals or other expenses if you have to live elsewhere while your home undergoes covered repairs.|
|Liability||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.|
For more details, see Homeowners Insurance: What It Is and What It Covers.
Chubb’s Masterpiece home insurance may be the company’s only home insurance policy, but it 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.
- Use of their HomeScan system, which uses infrared technology to analyze your home for leaks, insulation problems and electrical malfunctions before they can cause damage.
- In some states, Chubb Wildfire Defense Services helps protect your home if it’s threatened by wildfire.
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.
Chubb’s discounts on homeowners insurance policies 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.
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 are available as well.
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 insurance ID cards, 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:
- 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.
- 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.
- Make a fair comparison. When evaluating rates, make sure each insurer is offering the same limits and deductibles.
- 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.
Frequently asked questions
What other types of insurance does Chubb offer?
Other types of Chubb insurance include auto, valuables, cyber and natural disasters. 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 the only type of coverage available for your home.
Does Chubb offer coverage outside the United States?
Chubb insurance operates in 54 countries and territories around the world, including the U.S. and Canada, Singapore, Hong Kong, Australia and New Zealand.