Chubb Home Insurance Review 2021

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Chubb home insurance at a glance

Although consumers may pay slightly more than average, Chubb home insurance policies come standard with high-end features that many other companies charge extra for, as well as several safety-focused discounts. Chubb’s very low number of complaints relative to its size and wide array of coverage make it one of the top homeowners insurance policies available.

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

Based on these considerations, Chubb is among allstocksnews.com’s best homeowners insurance companies for 2021.

Chubb home insurance pros and cons

Chubb home insurance complaints

Chubb had significantly fewer than the expected number of home insurance complaints to state regulators relative to its size, according to three years’ worth of data from the National Association of Insurance Commissioners. (NAIC home insurance complaints also cover other home policy types, including mobile home, renters and condo insurance.)

Chubb home insurance state availability

Chubb homeowners insurance is available in all 50 states and Washington, D.C.

Chubb home insurance coverage

Chubb’s Masterpiece home insurance may be the company’s only home insurance policy, but it goes beyond the coverage typically offered by other homeowners insurance carriers. Some of Chubb’s standard features, which are often treated as add-ons by other insurers, include:

  • Extended replacement cost. If you need to repair or rebuild your home but the cost is more than your policy limit, Chubb will pay the difference. Chubb also covers any upgrades needed during rebuilding to bring your home up to current codes.
  • Replacement value for contents. Chubb will pay what it costs to buy new belongings if yours are stolen or damaged. Most standard policies will only give you the actual cash value of the items, which accounts for depreciation.
  • Water backup. If a sump pump fails or the sewer backs up and your home suffers water damage, Chubb covers the costs. With most companies, this is usually optional and carries a separate fee.

The Masterpiece policy also includes:

  • A complimentary visit from a risk consultant to assess your home for potential issues.
  • Use of their HomeScan system, which uses infrared technology to analyze your home for leaks, insulation problems and electrical malfunctions before they can cause damage.
  • In some states, Chubb Wildfire Defense Services helps protect your home if it’s threatened by wildfire.

Chubb home insurance rates

Generally, Chubb Masterpiece is more per year than the national average homeowners insurance cost of $1,631, on average. However, the Masterpiece policy offers coverage that other, less expensive policies may not.

» MORE: Home insurance calculator: Estimate your costs

Chubb home insurance discounts

Chubb’s discounts on homeowners insurance policies focus on safety. In addition to discounts for having burglar or fire alarms, Chubb offers lower premiums if your home contains a sprinkler system or is otherwise fire resistant.

In addition, you can save if your home is new or was recently renovated, and living in a gated community will also get you a price break. Other discounts are available as well.

Chubb home insurance consumer experience

Website: Chubb’s website can be challenging to use. Most will not be able to get a quote online. However, the site does provide ample information about policy features and connects you to a large library of educational content.

App: The Chubb app is available on iOS and Android. Users can pay premiums, submit claims and view insurance ID cards, among other basic functions.

Chubb home insurance FAQ

What other types of insurance does Chubb offer?

Other types of Chubb insurance include auto, valuables, cyber and natural disasters. Additionally, Chubb offers what it calls “bespoke services,” which customize coverage for those with specialized hobbies or professions such as collecting or farming.

Is Chubb homeowners insurance expensive?

Chubb tends to be more expensive than its competitors, but it also offers several features standard that other insurers only have as add-ons. Rates and premiums can also vary depending on a number of factors, such as your credit or the age of your home.

What is Chubb Masterpiece coverage?

Masterpiece is the name of Chubb’s homeowners insurance product. It is the only type of coverage available for your home.

Does Chubb offer coverage outside the United States?

Chubb insurance operates in 54 countries and territories around the world, including the U.S. and Canada, Singapore, Hong Kong, Australia and New Zealand.

Homeowners insurance ratings methodology

allstocksnews.com’s homeowners 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, coverages, discounts, online experience and more. These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. allstocksnews.com does not receive compensation for any reviews. Read our editorial guidelines.

Insurer complaints methodology

allstocksnews.com examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2016-2018. 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, allstocksnews.com 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.

Homeowners Insurance Rates Methodology

allstocksnews.com averaged rates for 40-year-old men and women from five insurance companies in every ZIP code across all 50 states and Washington, D.C. Sample homeowners were nonsmokers with good credit living in a single-family, two-story home built in 1983. They had a $1,000 deductible and the following coverage limits:

  • $300,000 in dwelling coverage.
  • $30,000 in other structures coverage.
  • $150,000 in personal property coverage.
  • $60,000 in loss of use coverage.
  • $300,000 in liability coverage.
  • These are sample rates generated through Quadrant Information Services. Your own rates will be different.

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