Chubb Insurance Review 2017: Complaints, Ratings and Coverage

Auto Insurance, Insurance

NerdWallet is a free tool to find you the best credit cards, cd rates, savings, checking accounts, scholarships, healthcare and airlines. Start here to maximize your rewards or minimize your interest rates. NerdWallet

Chubb reviews and ratings

  • Customer satisfaction ratings are average or better
  • Has fewer customer complaints than other companies of similar size
  • Financial strength is superior, according to ratings agency A.M. Best

Overview

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

Complaints

Chubb had fewer than the median number of complaints to state regulators in 2016 for a company of its size, according to the National Association of Insurance Commissioners.

Auto insurance complaints
Home insurance complaints

5 stars

5 stars

Customer satisfaction

  • Chubb ranked “better than most” for overall satisfaction in J.D. Power’s 2017 Property Claims Satisfaction Study
  • It ranked “about average” for overall satisfaction in J.D. Power’s 2016 Homeowners Insurance Study

Financial strength

Chubb’s financial strength is “superior,” according to ratings agency A.M. Best. Financial strength is important because it indicates how well an insurer can pay claims.

Chubb auto insurance

Chubb’s Masterpiece auto insurance policy offers coverage found on a standard policy and options geared toward owners of expensive vehicles. Options include:

  • 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.
  • 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 fancy 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.
  • Ultra-high insurance limits: You can choose up to $10 million in liability insurance and up to $1 million in uninsured/underinsured motorist insurance.
  • Worldwide rental car coverage: A Chubb auto policy extends to damage to a rental car you drive anywhere in the world. Most car insurance companies limit coverage to rental cars in the U.S. and Canada. Chubb also provides worldwide auto liability coverage, for damage you cause to others, when you buy at least $1 million in liability insurance.

Chubb home insurance

Chubb’s Masterpiece homeowners policy offers features not found in most policies from other insurers, along with benefits targeting owners of expensive homes. Key features include:

  • Extended replacement cost: After damage that’s covered by your policy, Chubb pays to have your home repaired or rebuilt to original specs and up to modern building codes, even if the cost exceeds your policy limit. This coverage is capped in some states.
  • Cash settlement: If you opt not to rebuild after total loss damage, or to rebuild elsewhere, Chubb will provide cash up to the amount of your policy.
  • Additional living expenses: If you need temporary lodgings because of damage covered by your policy, Chubb will help cover expenses so you can maintain your standard of living. Reimbursement is not capped as a percentage of your home’s insurance value.
  • Replacement cost coverage: Chubb insures most belongings for the amount it would cost to replace them today, up to your policy’s limit. You can opt for a cash settlement instead.
  • Chubb Wildfire Defense Services: This provides customers in certain locations with services to defend their home from wildfire threats. These include an assessment from certified wildfire fighters if a fire is spreading your way and sending firefighters to your home if there’s a wildfire.
  • Home appraisal: In the event of a claim, Chubb’s appraisers visit your home, estimate replacement costs, recommend the amount of coverage you need and offer security and safety advice.
  • Identity management: 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.

Family protection insurance

Family protection is a separate policy from Chubb that pays out if you or a family member is a victim of certain crimes that result in wrongful termination, false arrest or wrongful discipline in school, or other incidents that leave you unable to attend work or school for more than a week. It provides compensation to recover costs, including for lost wages, temporary relocation, psychiatric services, and rest and recuperation. Some of the crimes the policy covers are:

  • Cyberbullying
  • Road rage
  • Stalking
  • Carjacking
  • Home invasion

ADT Security Services partnership: For an additional charge, ADT’s Custom Home Services provides Chubb policyholders with round-the-clock monitoring against intruders, fire, smoke, flooding and carbon monoxide. Chubb customers who buy an ADT security system are eligible for a 10% discount on installation and up to a 10% savings on their home insurance policies.

More about Chubb

On the Chubb website, you can find an agent and access your policy, billing and claims information and, in some cases, your appraisal information. You also can pay your bill online.

The Chubb Cares app is the company’s one-stop assistance app. Customers can update their personal information, summon roadside assistance and chat with representatives.

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 delivered through the app within three hours.

Chubb’s Travel app can help you manage a travel itinerary, find medical services locations, and send you travel alerts.

Other insurance is available from Chubb’s partners, including supplemental life and health insurance.

Chubb offers a few additional policy types, including:

  • Watercraft insurance, including coverage for luxury yachts
  • Valuable articles insurance, including jewelry, art and other collectibles
  • Umbrella insurance, up to a $50 million limit

NerdWallet is a free tool to find you the best credit cards, cd rates, savings, checking accounts, scholarships, healthcare and airlines. Start here to maximize your rewards or minimize your interest rates. NerdWallet