HomeBusiness InsuranceChubb insurance review: Protection for auto, home, business, and valuables

Chubb insurance review: Protection for auto, home, business, and valuables

Established as an underwriting business back in 1882, Chubb has grown to become one of the largest property and casualty insurers in the world. The company is headquartered in Warren, NJ, though it has offices in over 50 countries and territories globally. Chubb offers several insurance products, including business, property, vehicle, and valuables coverage. 

If you’re interested in insuring your jewelry, Chubb offers standalone valuables insurance coverage. Here’s what to know about this company, its offerings, and its perks and drawbacks. Note that all rates and fees are current as of March 11, 2024, and are subject to change.

Chubb at a glance 

  • Vehicle insurance: $177 
  • Home insurance: $151 
  • Valuables insurance: 1% to 2% of an item’s value for jewelry 

Who is Chubb good for?

Chubb offers several insurance products, making it suitable for consumers as well as businesses of all sizes and types. Whether you’re interested in bundling your coverage or simply looking for one particular product, Chubb delivers. 

In particular, Chubb could be a good fit if financial stability tops your list of must-haves for an insurer. This company has received consistently high ratings for financial soundness from independent insurance rating organizations, and it had a net income of $5.3 billion in 2022. 

Who shouldn’t use Chubb?

Many people like to comparison shop for insurance products by obtaining quotes online, but this isn’t an option with Chubb. Instead, you’ll need to speak with an insurance agent to get an idea of how much your coverage will cost. Given that many competitors offer online quotes, this is a big drawback, especially if you prefer not to spend time on the phone. Some agents may not be particularly forthcoming with quotes, either. 

Chubb’s rates are also slightly higher than some competitors and it doesn’t offer many discounts, so it’s likely not your best option if you’re seeking low-cost coverage. It also isn’t particularly transparent about its rates.

Pros Cons
Many insurance products available Certain competitors offer more affordable coverage
Suitable for consumers or businesses Ratings from past customers are fairly low
Established, financially stable company No online quotes available

Chubb rates and products

Chubb offers a variety of insurance products for individuals and families, as well as several business coverages. Here’s a look at some of its offerings. 

Chubb product Average monthly rate
Vehicle $177
Home $151
Valuables 1% to 2% of an item’s value for jewelry (per year)
Business Not disclosed

Chubb vehicle insurance 

Whether you want to insure your new hybrid car or new 30-foot yacht, Chubb has you covered. Consumers can get insurance for cars for $177 per month on average, classic cars, boats, and yachts. Chubb, however, doesn’t offer coverage for motorcycles, motor homes, or other types of vehicles. 

Chubb property insurance

Chubb also offers property insurance, though it’s not transparent about its rates. Its homeowners insurance coverage averages around $151 per month, per multiple publicly available sources. That said, your costs will vary based on several factors, including your home’s size, location, and features. 

In addition to traditional property insurance, Chubb can also insure your home appliances and equipment. This option is especially useful if you have high-value appliances in your kitchen. 

Chubb valuables insurance

Chubb indicates its jewelry insurance typically costs around 1% to 2% of an item’s value annually. But it doesn’t provide clear rates for insuring other valuables, such as art, wine and spirits, and other collectibles. You’d need to discuss costs with a local agent for more insight. Chubb also ranks as one of the best insurer for luxury watches like a Rolex or Cartier.

Chubb business insurance

In addition to its personal insurance products, Chubb offers several types of business insurance. Its small business coverage is available to businesses with less than $30 million in revenue. Those with higher revenue numbers could benefit from its commercial package policy, and individual insurance coverages are also available if you’d like to hand-pick your options. Learn more about how to protect your assets with our comprehensive guide on business insurance.

Other services Chubb offers 

You can also get the following coverages with Chubb:

  • Natural disaster: Its catastrophe coverage can protect your home from various perils, including hurricanes, floods, earthquakes, hail, and more. 
  • Travel: Its travel insurance covers trip delays, cancellations, and interruptions; missed connections; lost or delayed baggage; medical evacuation; and more.  
  • Additional liability: You can also purchase additional liability insurance if you’re concerned the coverage that comes with your home, auto, or watercraft policy isn’t enough.

The Chubb platform and customer support 

As a Chubb customer, you can file a claim online if an incident occurs. It offers different portals for different types of claims:

If you have questions about your coverage, you can also reach out to Chubb’s customer service team. They’re available via phone from 8 a.m. to 8 p.m. ET, Monday through Friday, and 10 a.m. – 3 p.m. ET on Saturday. You can also email them or submit a request on their website. 

What is Chubb’s reputation for paying claims?

AM Best is an insurance credit rating service that provides scores to insurers. A high AM Best rating is indicative of a company’s financial stability. Chubb has an A++ AM Best rating, which is the highest possible score. This score demonstrates that it’s able to pay out claims without encountering financial difficulties. 

Chubb indicates that it typically disburses claim payments within 48 hours after a claim is settled. 

Chubb user reviews

User reviews from Chubb customers are fairly negative. The company doesn’t have one central page on Trustpilot, but rather, several pages for its various product lines. Its Trustpilot star ratings range from 1.4 to 4.6 out of 5 stars, with its travel insurance ranking among the lowest of its products and its fire and security insurance ranking the highest. 

The company doesn’t fare well on the Better Business Bureau (BBB) either. It receives an average of 1.4 out of 5 stars from customers, and it’s got a D- rating from the BBB itself. Dissatisfied customers express concerns about denied claims, delayed payouts, and problems reaching customer service. 

Compare Chubb alternatives

Chubb Jewelers Mutual GemShield BriteCo
Rates Not Disclosed $$ $ $$$
Products Vehicle insurance
Home insurance
Jewelry insurance
Business insurance
Jewelry insurance
Jewelry business insurance
Jewelry insurance Jewelry insurance
AM Best rating A++ A+ A+ A+
Learn more Read our Jewelers Mutual review

Is Chubb right for you?

Chubb has a few positives, namely its wide range of insurance products, financial stability, and global presence. If you’re an existing Chubb customer and have been pleased with its service, it could be worth getting a quote for another coverage type. 

But this company’s reputation with online reviewers, and its lack of transparency around rates are concerning. Those considering a policy may want to get quotes from other insurance companies to find more affordable coverage.

Frequently asked questions

Is Chubb a good insurance company?

Chubb is a long-standing insurance company with a high credit rating from AM Best. It’s rated an A++, which demonstrates its financial soundness. That said, online reviewers have mostly negative things to say about the company. Do your due diligence if you’re considering Chubb insurance. 

What types of insurance does Chubb offer?

Chubb offers many types of insurance coverage for consumers and businesses. As a consumer, you can obtain auto, home, valuables, and other insurance from this company. It also issues small business and commercial policies designed to protect companies and their employees. 

Is Chubb insurance expensive?

Chubb isn’t particularly transparent about its insurance rates, so it’s difficult to say if it’s expensive. However, information from publicly available sites indicates that its home and auto premiums are higher than the national average. Its jewelry insurance costs around 1% to 2% of an insured item’s value, which is a competitive rate.

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