Chubb Homeowners Insurance is one of the world's largest insurers, underwriting policies across many countries. However, it specializes in difficult-to-insure, high-value homes, like beachfront properties. So, despite its size, many American homeowners may not be familiar with its name.
Business Insider compared Chubb homeowners insurance to the best homeowners insurance companies and found it to be an industry leader. Chubb homeowners insurance received the highest score on the most recent JD Power U.S. Home Insurance Satisfaction Study, and it has extensive coverage options.
Chubb Homeowners Insurance Pros and Cons
Chubb Homeowners Insurance Pros
- Highly rated in customer satisfaction by JD Power
- Personal liability limits from $1 million up to $100 million
- Fast claims
- 24/7 emergency services
- Offered in all 50 states
Chubb Homeowners Insurance Cons
- Must go through local agent for quotes
- Relatively high premiums
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Chubb Homeowners Insurance Overview
Chubb insurance is one of the largest global property and casualty insurance companies, operating in 54 countries and territories. While Chubb's bread and butter is commercial lines insurance, the insurer specializes in difficult-to-insure personal properties.
Chubb homeowners insurance receives praise for its excellent customer service and premium homeowners insurance plan, Masterpiece®. Policyholders can also access complimentary services, from risk consulting to fraud prevention.
However, Chubb's policies are more expensive on average, though Chubb also specializes its coverage for high-value homes and difficult-to-insure properties, which may drive its prices up.
Chubb Homeowners Insurance Plans and Coverages
Chubb homeowners insurance offers a variety of homeowners insurance types like HO-3, HO-4, and HO-6, in addition to various add-ons and customizations.
Chubb HO-3 Insurance
Chubb homeowners insurance offers the following coverages for its standard HO-3 policy.
- Dwelling and other structures coverage: This insurance covers replacement and repairs of your home's foundation, structure, and detached structures, like a fence or a shed, if damaged by a covered hazard. The dwelling portion is based on a replacement cost estimate, while other structures coverage is approximately 10% of your dwelling coverage.
- Personal property coverage: This coverage will reimburse you for the cost of damaged or lost belongings up to your policy's limit. While the average homeowner may buy $300,000 in personal property coverage for a single-family residence, many Chubb homeowners buy higher limits. You should discuss special coverage with your insurance agent if you have high-value items like professional computer systems, jewelry, collections, etc.
- Loss of use coverage: Chubb will reimburse you for meals, transportation, and alternative living arrangements if your home becomes uninhabitable.
- Personal liability coverage: If a guest sues you for an injury that occurs on your property, this coverage pays for your legal fees and their medical expenses. Business owners routinely buy $1 million liability policies. Depending on the size of your business, Chubb can help you customize plans to meet your needs.
Chubb HO-6 Insurance
Chubb homeowners insurance offers the following coverages for its HO-6 policies.
- Interior unit coverage: Chubb has “all-in coverage,” which means everything inside your condo is covered from the “walls-in.” So, the walls, floors, fixtures, as well as any renovations or upgrades you’ve made, are covered.
- Coverage for Assessments (loss assessment coverage): This coverage is for shared areas in the building. Chubb automatically includes $50,000 to cover loss assessment costs, and you have the option to purchase more depending on the state you’re in. Other condo insurance policies typically don’t offer as much.
- Personal property coverage: Any of the possessions that you would bring with you if you were to move are covered. This includes items like personal valuables, clothes, household goods, and furniture.
- Loss of use coverage: Chubb will cover the cost of temporary living expenses for up to two years or a later date. If you experience a covered loss and need to find another place to stay, Chubb will help you find something comfortable similar to the type of home you were living in.
Chubb HO-4 Insurance
Chubb homeowners insurance offers the following coverages for its HO-4 policies.
- Personal property coverage: Chubb will cover the full cost of replacing your personal belongings in the event of a covered peril, such as a fire or water leak.
Additional Cover Options (Riders) Offered by Chubb Homeowners Insurance
Not all needs are met by a base policy. Riders can add or customize coverage whether they have expensive jewelry, want protection against water damage (outside of flood damage), or something else. A few standard riders include:
- Personal umbrella insurance: Chubb offers up to $100 million in liability coverage for lawsuits of accidents. Chubb's personal umbrella insurance could come in handy when your standard liability coverage isn't enough. It is a separate policy, but insurers often combine policies to make billing easier.
- Water backup coverage: If your water systems are clogged or fail to work, this coverage will cover water or mold damages. Flood insurance is only required if you live in high-risk flood zones. However, water backup coverage can benefit any homeowner, including condo owners.
- Building code insurance: If you're rebuilding your home due to a covered loss, Chubb will cover the expense of bringing the damaged areas up to code. These shortages may not be immediately apparent after the covered event. Chubb offers flexibility to ensure repairs are done right.
- Cyberbullying insurance: If your child is the victim or perpetrator of cyberbullying, this coverage will pay for mental health services, cyberbullying mitigation, and repercussions like fraud, extortion, and data breaches.
- Replacement cost coverage: Actual value coverage pays to replace your home after accounting for minor damages and depreciation. Replacement cost coverage is an upgrade that pays to replace items based on the current cost. For many, this could account for unexpected increases in construction costs. Extended replacement coverage increases your replacement cost coverage to account for increased expenses associated with natural events and inflation.
- Cash settlement coverage: If you decide not to rebuild your home, Chubb homeowners insurance pays you up to your policy limit to use the settlement as you see fit.
- Electronics data loss coverage: This coverage pays for restoring or replacing lost data due to an insured loss, like natural disasters or a computer virus.
- Tree removal coverage: Chubb will pay for the tree removal cost if a tree falls on your property due to a covered event.
- Lock replacement coverage: Chubb will pay for lock replacements if your keys are lost or stolen.
- Valuables article coverage: Chubb offers additional personal property coverage if you have highly valued items requiring more coverage.
Chubb homeowners insurance also offers the following services free of charge if you choose its Masterpiece® upgrade.
- Home assessment service: Chubb will connect you with a risk consultant to help offset your homeowner risk level. Common examples include expert security and fire prevention advice.
- Wildfire defense service: This program mitigates fire damage by alerting homeowners of fires in their area and connecting them with certified wildfire firefighters.
- HomeScan: Chubb's proprietary Homescan program reveals leaks, missing insulation, and faulty electrical connections to help prevent significant damage.
- Chubb property manager service: If you have an investment home, you may only sometimes be around to check on it and perform regular maintenance. Chubb will send a property manager to inspect your home and perform mitigation maintenance or arrange urgent repairs if a hurricane or windstorm has or will impact your home. This is key to avoiding neglect-based denials or denials associated with temporary vacancies.
- Identity management service: Chubb connects policyholders to fraud specialists if they believe they're a victim of identity theft.
Chubb Homeowners Insurance Cost
Homeowners insurance costs vary based on the value and details of your home, your personal information like age and credit score, and your location. Policies for homes and owners deemed riskier to insure will be more expensive.
Average rates for Chubb homeowners insurance are $3,958 annually, according to Insurify. This is higher than the U.S. industry average of $3,603, but homeowners should account for the types of homes Chubb insures.
The types of difficult-to-insure properties Chubb insures are likely to have lower dwelling coverage with higher premiums associated with increased risks. Certain fire zones and beachfront properties are good examples. So, any competing insurer will also charge more than the average insurance premium for the coverage.
This said, Chubb offers a host of distinct coverages and complimentary services with its all-inclusive plan, which may come in handy for your unique circumstances. In addition, if cost is still an issue, Chubb has various discounts to lower costs. We recommend speaking to a Chubb insurance agent to obtain an accurate estimate.
Chubb Homeowners Insurance Discounts
Taking steps to improve your home’s protection can significantly lower the cost of homeowners insurance. Here’s a list of the potential discounts Chubb offers for its homeowners insurance policies:
- Fire protection: You can receive discounts for installing fire alarms, a sprinkler system, or living in a home built with fire-resistant materials.
- Anti-theft: You may be eligible for a discount if your home has burglar alarms, you live in a gated community, your community has a patrol service, or you live in a low-crime area.
- New or renovated house: If you live in a new or recently renovated home, you may receive a discount for making the upgrades. This also includes if your home was built with masonry construction.
- Storm protection: You can earn a discount for installing storm shutters. A home with storm shutters can better withstand severe weather and is less likely to be damaged in a storm.
- Loss free: Insurance companies save money the longer you go without filing a claim, so some insurers are willing to give you a discount for being “loss free” over a certain length of time.
- Bundling discount: If you also have a Chubb auto insurance policy, you can bundle both and receive a discount.
Not all discounts may be available to you depending on the state you live in and the level of coverage you purchase.
How to Purchase and Manage a Chubb Homeowners Insurance Policy
To purchase a homeowners insurance policy from Chubb, you’ll need to go to the insurer’s official website and click on “Get a Quote” or “Find an Agent.” Once you click on either button, you’ll need to fill out a short form online.
You’ll be asked to provide information such as the type of insurance coverage you’re interested in, your home’s square footage, your ZIP code, your full name, address, and phone number. From there, you’ll submit the form, and then an agent from Chubb will contact you.
Chubb offers homeowners insurance policies in all 50 states, including Washington, D.C.
Managing a policy with Chubb is simple with its e-Services portal known as MyAccount. You can access this portal online or via the Chubb mobile app, which is available in the Apple App Store and Google Play. In MyAccount, you can access the coverage details of your policy, update your contact information, view your policy premium, update your payment information, and submit and review your claims.
How to File a Claim with Chubb Homeowners Insurance
You can file a claim with Chubb using the following methods:
- Phone: 1-800-252-4670
- By logging into your online portal on your web browser or through the mobile app
- Or by contacting your local agent
We recommend claimants submit a police report (if applicable), a list of the damaged or stolen items, photographs or videos, and receipts. Chubb may also request a repair estimate from a contractor. As a policyholder, you can tap the company's service network to contact a qualified expert to inspect the damage. Chubb promises responses within an hour for urgent situations and four hours for non-urgent losses. Most claims are paid within 48 hours of submission.
Chubb Homeowners Insurance Customer Reviews and Ratings
Chubb homeowners insurance has not been accredited by the BBB and received a D- rating for its failure to respond to 106 complaints. It also fares poorly on Trustpilot, receiving an average of 1.7 stars.
Customers complained about Chubb's claims process, saying that it was difficult to submit a claim on Chubb's claims portal. Though its reviews pertain to Chubb as a whole, not just its homeowners insurance policies.
Despite a low rating from the Better Business Bureau (BBB), Chubb has a low customer complaint index rating from the NAIC. Ace American Insurance Company, which underwrites Chubb policies, has a 0.54 Company Complaint Index score, indicating that it has roughly half the number complaints given its share of the market.
Furthermore, Chubb ranked the highest among homeowners insurance companies in the 2024 JD Power U.S. Home Insurance study. Based on a 1,000-point scale, Chubb ranked 688, which was eight points higher than the second-ranked home insurance company, AIG. For reference, the study average across 23 homeowners insurance companies was 640/1,000.
Chubb received an A++ (Superior) rating from AM Best. This means the company is financially stable and very likely to pay out claims as expected.
In addition, the Chubb mobile app has mixed reviews. The app earned 4.5 stars out of five on the Apple App Store and 3.6 stars out of five on the Google Play Store. Overall, many customers complained about the app having too many glitches and not working consistently. On the other hand, several customers praised the insurance company for responding quickly and providing excellent service.
Chubb Homeowners Insurance Alternatives
See how Chubb compares to three other options for home insurance coverage: Erie, Allstate, and Travelers.
Chubb vs. Erie Homeowners Insurance
Erie Homeowners Insurance is significantly more expensive considering the coverage you take and the acceptable risk profile when compared to the fact that Chubb's insurance costs are balanced against its niche market and higher risk profile. In addition, it's available to a broader demographic, covering many private homeowners. However, Erie is only available in 12 states, while Chubb sells its policies worldwide.
Erie offers guaranteed replacement cost coverage in its HO-3 policy, while Chubb doesn't. Still, Chubb sells an assortment of unique coverages you may not find with Erie. But, again, Erie and Chubb don't often overlap. So, customers who get quotes with one are unlikely to get quotes from the other.
| Insurance Companies | Chubb | Erie |
| Annual Cost | $3,958 | $2,478 |
| JD Power | 688 | 674 |
| AM Best | A++ (Superior) | A+ (Superior) |
| NAIC Complaint Index | 0.54 | 1.36 |
Read our Erie homeowners insurance review.
Chubb vs. Allstate Homeowners Insurance
Allstate Homeowners Insurance is the cheaper option and ranks slightly better than Chubb in terms of customer satisfaction. However, Allstate has a higher volume of complaints than its competitor. One signature benefit of Allstate is its availability. Allstate will insure many average homeowners with properties with up to four legal units. It also offers auto insurance and other products that can be bundled for discounts and ease of use.
With Chubb's Masterpiece® policy, on the other hand, you can access rare services not available with Allstate, like property management services. So, landlords with multiple properties or individual properties with multiple legal units may find more value in their coverage. If you're on the edge of deciding between the two, we recommend getting quotes from licensed insurance agents.
| Insurance Companies | Chubb | Allstate |
| Annual Cost | $3,958 | $3,630 |
| JD Power | 688 | 631 |
| AM Best | A++ (Superior) | A+ (Superior) |
| NAIC Complaint Index | 0.54 | 3.51 |
Read our Allstate homeowners insurance review.
Chubb vs. Travelers Homeowners Insurance
Travelers Homeowners Insurance offers significantly better rates than Chubb. However, Chubb homeowners insurance tends to provide better customer service and has a lower volume of complaints. It's important to differentiate between the two companies because Chubb offers business and niche products, while Travelers caters to the average homeowner. For many consumers, this means top-of-the-line coverage options with Chubb.
Both companies offer replacement cost value options, water backup, and other popular riders. However, Chubb is the only one of the two with special perks for its deluxe policyholders and offers unique coverages like cyberbullying insurance. Many policyholders will find better solutions with Travelers if you are trying to insure your home. However, if you're a property owner renting out properties, you may want to quote with both providers.
| Insurance Companies | Chubb | Travelers |
| Annual Cost | $3,958 | $3,308 |
| JD Power | 688 | 609 |
| AM Best | A++ (Superior) | A++ (Superior) |
| NAIC Complaint Index | 0.54 | 0.27 |
Read our Travelers homeowners insurance review.
Why You Should Trust Us: What Went into Our Chubb Homeowners Insurance Review
To review Chubb homeowners insurance, Business Insider used research from third-party rating agencies such as AM's Best to establish a company's financial strength and stability, as well as JD Power, for customer satisfaction from policy purchasing to claims processing. We also sourced data from the National Association of Insurance Commissioners to determine the volume of complaints an insurance company received.
We also evaluate customer service based on accessibility and quality of digital experience. For instance, we look for 24/7 customer service, access to local agents, and ease of filing a claim and applying for a policy via a mobile app or website browser.
Read more about how Business Insider rates homeowners insurance.
FAQs
What type of policies does Chubb homeowners insurance offer?
Chubb homeowners insurance offers HO-3, HO-4, and HO-6 insurance policies.
Who is Chubb homeowners insurance owned by?
Chubb homeowners insurance is owned by ACE Limited (a holding company that sells property and casualty insurance products.
Is Chubb homeowners insurance a reputable company?
Yes, Chubb homeowners insurance is a reputable company. It's one of the largest homeowners insurance companies in the U.S. based on market share.
Does Chubb homeowners insurance pay claims?
Yes, Chubb homeowners insurance pays eligible claims quickly in most cases. It's also in good standing with AM Best, receiving an A++ (Superior).
Why is Chubb homeowners insurance expensive?
Chubb homeowners specializes in policies for hard-to-insure and high-value homes. It also provides coverage that many other standard home insurance policies offer as optional coverage add-ons.
