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Chubb Insurance Review 2021

Chubb insures mostly high-net-worth families and offers a number of policy perks.
May 25, 2021
Auto Insurance, Insurance
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  • Specializes in insuring high-value vehicles.
  • Auto policies include identity theft monitoring and other high-end perks.
  • Has fewer customer complaints than expected for a company of its size for auto insurance.

Chubb specializes in auto and other insurance for well-to-do customers. The company’s suite of products features generous coverage options and perks that aren’t usually available from other insurers.

Chubb pros and cons

ProsCons
Generous coverage and perks for high-end customersDoes not focus on providing cheap insurance
Cash settlements available for auto policies
Fewer than expected number of complaints for auto insurance

Chubb auto insurance

4.5 NerdWallet rating

Chubb auto insurance earned 4.5 stars out of 5 for overall performance. NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account pricing and discounts, ease of filing a claim, website transparency, financial strength, complaint data from the National Association of Insurance Commissioners and more.

Based on these ratings, Chubb is among NerdWallet’s Best Car Insurance Companies for 2021.

» MORE: Car insurance quotes: What you need to know

Common types of car insurance coverage

When you’re shopping for car insurance, it’s important to understand what car insurance coverage you want and what you’re required to buy. Most states require car insurance to drive a vehicle, although minimum coverage requirements vary from state to state. This generally includes liability insurance and uninsured and underinsured motorist coverage.

If you want extra protection, you may be interested in full coverage insurance. Full coverage isn’t a specific policy you can buy, but rather a combination of coverage types like liability, collision and comprehensive insurance.

Check out the most common types of car insurance coverage below to see how they work:

Coverage typeWhat it pays forRequired?
Bodily injury and property damage liabilityCosts for injuries, deaths or property damage from an accident you caused.Typically required.
Uninsured or underinsured motorist coverageMedical and property damage costs after an accident with a driver who has insufficient insurance or none at all.Often required.
Collision coverageRepair expenses from traffic-related accidents, regardless of who's at fault.A car loan or lease may require it.
Comprehensive coverageRepair costs from events outside your control — including weather events, hitting an animal while driving, theft and vandalism.A car loan or lease may require it.

As a company that primarily serves high-net-worth families, Chubb doesn’t focus on cheap insurance or price breaks, but rather on white-glove perks, coverages and services.

Chubb’s Masterpiece auto insurance policy offers coverage found on a standard policy and extra features geared toward owners of expensive vehicles, including:

  • Generous rental reimbursement coverage. If you need to rent a car because yours is in the shop after an accident, you can rent a vehicle as nice as the one you normally drive. The coverage reimburses you up to $15,000 to rent a car, with no per-day limit.
  • Coverage for original equipment manufacturer parts. When your car needs repairs after an accident, Chubb’s collision and comprehensive insurance pays for parts made by your car’s manufacturer. Other insurers often pay only for aftermarket parts, which are made by companies other than the carmaker and are less expensive than original manufacturer parts.
  • Worldwide rental car coverage. A Chubb auto policy extends to damage to a rental car you drive anywhere in the world. Chubb also provides worldwide auto liability coverage, for damage you cause to others.
  • Removal of personal information. If your vehicle is totaled, Chubb will delete personal data stored in the car’s systems, such as GPS addresses, phone contacts and garage door opener codes.

Optional coverage from Chubb varies by state but may include the following:

  • Agreed value for collision and comprehensive insurance. If you choose this option, you and the company agree on what your car is worth when you buy the policy. If the car is stolen or totaled, Chubb reimburses you for that amount. With a standard policy from other insurers, you’re reimbursed for the market value of the car at the time of the incident, minus your deductible. This is an important feature for owners of collector cars. See NerdWallet’s analysis of the best classic car insurance.
  • Ultra-high insurance limits. You can choose up to $10 million in liability insurance and uninsured/underinsured motorist insurance.
  • Lease gap coverage. If your leased car is totaled or stolen, Chubb covers what you owe to the leasing company, including forfeited security deposits and early termination fees.
  • Corporate car personal extension. You can extend your Chubb coverage to your company car when you drive it for personal use.
  • Full window glass coverage. With this option, Chubb will replace any window on your car that cracks or breaks, with no deductible.
  • Child seat replacement if the item is damaged in a covered accident.
  • Pet injury coverage up to $2,000.
  • Lock and key replacement coverage with no deductible.

Chubb’s auto insurance discounts

With its focus on high-end customers, Chubb doesn’t emphasize discounts on its website. However, depending on the state where you live, Chubb may offer auto insurance discounts for:

  • Bundling your home and auto coverage.
  • Insuring more than one vehicle.
  • Completing driver training or an accident prevention course.
  • Having safety equipment like air bags, anti-lock brakes, daytime running lights or anti-theft devices.
  • Being a good student.

» MORE: Compare car insurance rates

Auto insurance buying guide

Before you compare car insurance companies, you’ll need to collect basic information, such as the driving history of everyone on the policy and facts about your car, including safety features and annual mileage driven. You’ll also want to understand which types of coverage you need. For example, do you want only the bare minimum insurance that your state requires, or do you need more extensive coverage, such as gap insurance or rideshare coverage? Check that each company you’re considering has the options you want.

When comparing rates among insurers, make sure each is offering the same coverage limits and deductibles. You may not want to decide based on price alone. Look at how many consumer complaints each company has, as high numbers can be a red flag about the quality of service you might receive.

Depending on which company you choose, you may be able to buy insurance online, over the phone or through an agent. For more guidance, see how to get car insurance.

Chubb homeowners insurance

Chubb’s Masterpiece homeowners policy offers features not found in most policies from other insurers, along with benefits targeting owners of expensive homes. To learn more, read our Chubb home insurance review.

White-glove services from Chubb

Identity management services are included in all auto policies from Chubb. If you suspect identity fraud or theft, Chubb will connect you with a fraud specialist to help guide you through the resolution. It includes help in filing police reports and other documentation, developing a case file and credit monitoring for a year.

Masterpiece Cyber Protection is a policy that can help restore your identity and reimburse for losses related to cybercrime, hacking, identity theft or cyberstalking. It also includes an assessment to determine which crimes you’re vulnerable to, with advice to prevent those.

Chubb consumer complaints

Chubb had fewer than the expected number of complaints to state regulators relative to its size for auto insurance, according to three years’ worth of data from the National Association of Insurance Commissioners.

More about Chubb

Website: You can find an agent and access your policy, billing and claims information. You also can pay your bill online.

Mobile apps: Chubb has several options for both Apple and Android devices.

  • Chubb Mobile is the company’s one-stop assistance app. Customers can pay bills, file and track claims, upload claim documents, view their auto insurance ID cards and more.
  • Chubb’s Mobile Estimate app lets you get car repair estimates after an accident. You can record your car’s vehicle identification number, take a photo of the damage and get a repair estimate through the app within a few hours. Chubb says some settlements are even finalized the same day.
  • Chubb Connect helps you connect to Wi-Fi hot spots worldwide and sends you travel alerts.
  • Chubb at the Wheel, for teen drivers, monitors driving habits and gives novice drivers a safety score.
  • Cyber Alert lets you quickly report an online security breach.
Other types of insurance from Chubb include:
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Auto insurance ratings methodology

NerdWallet’s auto 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, website transparency and affordability. Using our editorial discretion, we also consider customer satisfaction surveys. 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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