Chubb Review: Home Insurance Companies

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.

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.

On the Chubb website