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Chubb Review

Sunday, February 16th

2025 Home Insurance Company Reviews

Chubb Review 3.5 Star Rating

Chubb

3.5 Star Rating
  • Works with high-net worth individuals
  • Global company
  • Get a quote from a local agent
  • Payouts within 48 hours
  • Overall positive customer reviews

Chubb aims to be a world leader in insurance with operations in 54 countries and territories. In addition to protecting personal property, Chubb also provides insurance for commercial assets, casualty, personal accident, supplemental health insurance, reinsurance, and life insurance. The company has over $225 billion in assets and reported $57.5 billion in gross premiums written in 2023. Chubb employs over 40 million people worldwide and has executive offices in New York, Zurich, London, Paris, and other locations.

Unique insurance endeavors

Chubb boasts that they offer insurance for some pretty unique things. For example, their website says they "insure sailboats for weekend outings and cargo ships for global trade.” This isn't your typical insurance company. When they talk about providing insurance for consumers, they typically refer to high-net worth families. They work with large corporations, are the #1 crop insurer in the United States, and are one of the largest financial lines writers globally. They are also proud of their philanthropic endeavors, providing scholarships to both kids and adults, donating to environmental sustainability, and helping with economic emergency disaster relief.

Coverage highlights

Some of the homeowners coverage highlights that Chubb has listed on their website include extended replacement cost (having your home repaired or rebuilt to original condition), temporary living arrangements, risk consulting, cash settlement, and replacement cost coverage (to cover the things inside your home). If you need additional resources about what these mean, Chubb has a "Masterpiece Homeowners Brochure” you can download from their site.

Quotes from an agent

To get a quote, you'll need to answer a few questions online. First, you'll select what type of property you want insured, your zip code, and how big the home is. Rather than gathering all the information on your property, Chubb will provide a list of contacts based on your zip code. For our area, we had 3 choices and were shown an email address, phone number, and physical office address we could visit. You'll work through one of these options to set up your home insurance. This has its perks and seems efficient, but we wish we could get a ballpark premium quote online before having to dive in with an agent. This is a more complicated and salesy process than some other homeowners insurance companies have set up.

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Fast payouts

If you need to make a claim through Chubb, you can do so directly from the website by entering your policy number or logging into your account. They say that their adjusters respond to claims within 24 hours, and once approved, payment can be issued within 48 hours. If you need somewhere to stay in the meantime, they say they'll arrange for a suitable hotel or find a similar home within your school district if one is available.

Mixed ratings

Overall people have mostly good things to say about Chubb and we trust they are legitimate and reliable. We realize this goes against their "D-” Better Business Bureau rating that was caused by their lack of responding to 110 complaints (not good), but in this case there tends to be lots of potential issues when it comes to insurance and individual customer feedback is mostly what we're going off of here. Chubb is not the most well-known company since they typically work with wealthy individuals. You'll likely be getting more from this company than what you need for your comfortable suburban home. We can't be sure on pricing since it will vary person-to-person and you'll need to work with an agent, but we imagine the home insurance policies here are quite pricey.

Don't love their model but it might work for you

It feels like Chubb gives bare bones information about policies on their website as a tactic to make sure you refer to an agent and connect as fast as possible. From a business standpoint, this makes sense. From a consumer standpoint, we want to sit comfortably behind our computer screen and gather all the facts and information about different policies to compare before pulling the trigger on one. Since they don't offer online quotes, this bumps them down a few points in our book. However, if you are looking to secure high-end assets, large homes, or secondary properties and will pay what it takes to get top-of-the-line coverage, do what it takes to get information about Chubb's policies. They're a high-end company and have earned a good rating from us, though they may not be the best fit for everyone.

Where is the Best Place to Purchase Homeowners Insurance?

No one wants to imagine their home getting overrun with water damage, enduring a natural disaster, having a fire destroy their property, or having to deal with theft, but it happens. Everyone should have homeowner's insurance for peace of mind and to be taken care of in case of an emergency or unfortunate occurrence. In fact, it's so important that you can't take out a mortgage anymore unless you can prove you have homeowner's insurance in place.

It makes sense that banks don't want to hand over a loan with the risk that something will happen to the property and render the owner unable to continue paying their mortgage. Since your home is such an important asset, you don't want to risk being responsible for thousands of dollars in costs if unexpected damage or destruction were to occur. Being uninsured in a time of crisis could result in total financial ruin.

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Home Insurance Company FAQ

If you have a mortgage on your home, your lender will more than likely require that you carry homeowners insurance. They will also require you to carry enough of it to rebuild your home if it were completely destroyed. When you have a mortgage, you don't completely own the home - the lender does, until you pay it off. That's why they require insurance. If it were to be damaged or destroyed, the bank needs to know that it will be taken care of.
There's regular homeowners insurance if you own your home, renters insurance if you're renting a free-standing home or an apartment, insurance for mobile homes, and more. When you start shopping for a home insurance policy, you'll be asked a series of questions that will determine what type of coverage is right for you.
Although the specifics can vary by company, there are a few things you can expect in a typical policy. First, your dwelling, or home, is covered, and so would a shed or other building on the lot. Your personal belongings would be covered, and medical costs of any guest injured on your property. Policies usually will pay for a hotel and meals from restaurants if you are displaced due to complete destruction of your home, if what happened is covered under the policy. You should also be protected in case of fire, storm, theft, or vandalism.
Yes and no. There are limits. When you purchase insurance, you and your agent will decide on the financial limits the policy will cover. A lower limit is cheaper, but it won't give you the replacement home you might think it will. A higher limit costs more, but will give you a better replacement home and personal belongings. Be aware that if your home is valued at $250,000, you can't get limits of $1,000,000 and get a million dollar home to replace yours. Your limits need to pretty much match what you currently have.
When you get a policy, you choose your deductible. This is the dollar amount you will be responsible for with each claim. If you want the insurance company to pay for it all, you will choose $0 deductible. Realize that having a low deductible will raise your rates. If you choose a higher deductible, such as $1,000, you'll have to pay that in the event of a disaster but your policy rates are lower. Choosing your deductible and your premium price is a balancing act.
Not all of your valuables may be covered under the standard policy, so you might choose what they call add-on policies for them. Let the insurer know if you have specific pieces to protect, and there will be a rider for each piece covering the amount it's worth. Although these add-ons might be expensive, it will be much more costly if something happened to them and they weren't listed in a separate policy.
You can usually get a discount for having zero claims on your history, living in a neighborhood with an HOA, being a senior, being a non-smoker, bundling with your auto insurance, signing on before your old policy expires, and more. If you have fire/smoke detectors and/or burglar alarms that are directly connected to emergency services (911), most policies will come with a significant discount there too. Be sure to ask your insurance company for ways to save money on your coverage.
Believe it or not, it's super-easy to get coverage online. Some insurers offer 24/7 live-person customer service, and others offer a live person only during typical business hours. But, if you don't want to talk to a person and you'd rather take care of all research and transactions from your phone or laptop, there are several companies that offer that. You can even get a quote in five minutes via the web or their app.
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Continued from above...

Most people don't have enough cash in the bank to cover a major portion of or even the entire cost of their home. It's probably the last thing you want to spend your money on when you're already paying a monthly mortgage. Having good home insurance is the best way to stay financially protected and ensure that you always have what it takes to repair and maintain your house if something goes wrong.

If you're a new homeowner, it may seem a little overwhelming to find an insurance policy. Luckily there are lots of companies available these days for you to choose from. Companies have gotten better at using layman's terms and really spelling out all their policies for you, so that you know what you'll be paying monthly, what the policy covers, and how to make a claim if you need to. Usually a company will offer a few different price ranges you can choose from, depending on how much coverage you think you need, and you can easily compare them to decide what works best with your budget and covers the risks that most threaten your property and surrounding area.

We've done some of the heavy lifting for you here by going over the process different companies require for you to get quotes and reviewing what people have to say about their customer service and follow-through with claims. When it comes to a situation regarding insurance, you don't want to mess around. We can't overstate the importance of being able to rely on a company that's affordable and will hold your hand while you navigate stressful situations.

Since there are quite a few insurance companies to choose from that have different types of policies, keep the following things in mind when choosing who to go with:

  • Standard coverage. What are the basic things included with standard coverage through the insurance company?
  • Optional add-ons. Every home, neighborhood, city, and state is different. That means that while one homeowner may need earthquake insurance, another may need flood insurance. Does the company have options to cover the specific risks in your area? Some also have add-ons for personal belongings like jewelry, so if this is something you might need, pay attention to what's available.
  • Coverage limits. In any given situation, what is the maximum amount the company would pay out? Do you feel confident that it's enough to cover all the costs you may be facing?
  • Deductible. Even though you pay a monthly fee to have home insurance, you'll still be responsible for an upfront portion of the cost of any damage you're dealing with. If you want a lower deductible, you may decide to choose a plan with a higher yearly premium instead.
  • Customer satisfaction. When you find yourself in a crisis, you want to make sure you are working with a company that will help you every step of the way. Pay attention to what other customers say about their experience with the insurance company. Do they follow through with claims quickly and efficiently? Are their employees patient, kind, and easy to work with? What rating does the Better Business Bureau give the company?

Top Consumer Reviews has researched the most important things you'd need to know about choosing a home insurance plan. We hope this information helps you find peace of mind knowing that one of your most valuable assets is protected. We've tried to make things as easy as possible for you to feel confident in your decision about which home insurance company to go with.

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