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Chubb Insurance: Overview
Chubb has been providing its customers with insurance coverage for well over a 100 years.
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About Chubb
In 1882, Thomas Caldecot Chubb and his son Percy, founded Chubb & Son in New York City selling with marine insurance. In 1901, Percy organized the Federal Insurance Company, writing marine insurance and expanded into fire two years later. The company acquired control of U.S Guarantee Company in 1921 and they opened their first branch outside the U.S in Montreal, Canada in 1928. In the year 1967, the company changed its name to Chubb Corporation and at the same time, they acquired the Pacific Indemnity Companies. In 1984 Chubb was listed on the New York Stock Exchange and their business expanded overseas by 1990. In 2012, after Superstorm Sandy, Chubb settled the highest number of claims in the company's history. Ace Limited and Chubb became one company and adopted the Chubb name by 2016. Today, Chubb is the world’s largest publicly traded P&C insurance company and the largest commercial insurer in the U.S, operating in 54 countries and provides property and casualty insurance to businesses and individuals, including personal products such as auto, home, travel, natural disasters, valuables, boats & yachts, cyber and life & health protection.
Chubb Facts & Ratings
| Year Founded | 1882 |
| Market Share | 2.95% |
| Financial Strength | Excellent |
| Fitch Rating | AA |
| NAIC Complaint Index | 0.46 |
| Moody’s Rating | Aa3 |
| S&P Rating | AA |
Chubb Mobile App Rating
| iOS | 4.4 stars (out of 5) | 2.3K user reviews |
| Android | 4.1 stars (out of 5) | 94 user reviews |
The Chubb Mobile app is available for android and iPhones and iPads. The app features fingerprint and facial login to a dashboard where you can manage payments, download ID cards, submit claims, check the agent information and more.
Pros & Cons of Chubb
- Industry-leading claims and risk engineering services.
- Efficiency in paying claims and solid reputation.
- Multi-policy discounts and credits available.
- High level of expertise.
- Higher than the average rates, since it’s a premier carrier.
Common Questions about Chubb
What is Chubb's health insurance?
Chubb’s health insurance is designed to provide maximum protection for the insured against any financial impact he/she may have as a result of hospitalization or required medical treatment due to a critical illness.
Where does Chubb insurance operate?
Chubb insurance operates in 54 countries and territories.
What is cyber insurance by Chubb?
Cyber protection by Chubb helps you avoid the lasting impact of emerging concerns, like identity theft, hacking, cybercrime, and cyberstalking or harassment.
Is Chubb insurance an admitted carrier?
Yes, Chubb is an admitted carrier.
What does Chubb's home insurance cover?
Chubb home insurance offers a list of products such as homeowners insurance, renters insurance, condo & co-ops and home-appliances & equipment. Homeowners insurance covers the following items: home assessment service, preferred services provider network, wildfire defense, HomeScan, exceptional claims service with contact made within 24 hours of first notice of loss, extended replacement cost, additional living expense, cash-out option, rebuilding to code, replacement value for contents, water back up of interior sewers and drains(up to applicable policy limits) and broad personal liability limits available (ranging from $1 million to $100 million). If you rent an apartment, Chubb offers renters insurance, which includes: coverage for the full cost to replace your belongings in the event of a fire, water leak, or another unexpected event, rental car insurance and access to the renowned claims service. Condo & co-ops insurance includes risk consulting expertise, loss assessment coverage, claims excellence and if you have upgraded the details of your home, Chubb will replace them for their full value up to your policy limit. The homeowners policy offers protection for damage to your home caused by unexpected issues, but it won’t cover for common problems with your appliances and for this Chubb offers the home-appliances & equipment insurance which covers breakdown of your permanently-installed home equipment, including heating and cooling systems, appliances, water heaters, swimming pool equipment, well pumps, permanently-installed generators and transfer switches, and permanently-installed home automation and security systems.
Is Chubb good for homeowners insurance?
Yes, Chubb is definitely good for homeowners insurance. It has great ratings and received the No. 2 rating from Insure.com People’s Choice Awards, as well as a top-five rating in claims satisfaction from J.D. Power & Associates. In addition, Chubb’s complaint radio for home insurance is well below the industry median, making it worth top consideration and according to a survey, 87% of customers would choose Chubb home insurance again.
How big is Chubb insurance?
Chubb is the world’s largest publicly traded P&C insurance company and the largest commercial insurer in the U.S. The company has more than 30,000 employees worldwide and has $174 billion in assets and reported $38 billion of gross premiums written in 2018.
What services does Chubb's business insurance offer?
Chubb business insurance offers account management and risk engineering services, which provides customized services to help clients identify exposures, minimize the potential for downtime, and mitigate or avoid losses. Also offered are Chubb global risk advisors and ESIS for U.S. and multinational companies, which provides risk management products and services in the United States and around the world.
Is Chubb a mutual insurance company?
No, Chubb is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index.
Does Chubb auto insurance offer discounts?
Yes, Chubb auto insurance offers discounts, by combining car and home insurance, you may be eligible for considerable savings.
What does Chubb Masterpiece® auto coverage cover?
The Chubb Masterpiece® auto coverage covers the following items: agreed value coverage for total loss with no deductible or depreciation, choice of repair shop, original equipment manufacturer parts and procedures, auto technical specialists , removal of personal information, rental coverage: up to $15,000 with loss of use and no per-day limit, worldwide rental car coverage, rental car reimbursement, liability and uninsured/ underinsured motorist limits of up to $10 million, multinational claim units in 54 countries for easy claim settlement and currency transfer, lock/key replacement, with no deductible or out-of-pocket expense, child safety seat replacement for covered damage or loss and pet injury up to $2,000.
Does Chubb sell life insurance?
Yes, Chubb sells life insurance and it includes accident, sickness and disability insurance as well as life protector and specified disease.
How to terminate Chubb insurance?
To terminate Chubb insurance you can contact an agent or speak with a customer service representative at Chubb. Before terminating your policy, you can shop for other insurance carriers with SmartFinancial.
Is Chubb car insurance expensive?
Chubb car insurance might have higher rates, however, it’s offered a premium service and also a lot of discounts are available.
Does Chubb raise rates?
Chubb’s rates follow the market so they do fluctuate. In the past few years, nearly all insurance companies have raised their rates due to an increase in car accidents (distracted driving) and home insurance (extreme weather).
Chubb Insurance Products
| Homeowners Insurance | Auto insurance |
| Valuables Insurance | Boat insurance |
| Cyber Insurance | Travel Insurance |
| Naturual Disaster Insurance |
Chubb Auto Insurance Coverage
Bodily Injury Liability
This form of protection covers bodily injuries to a third party in an accident that was deemed your fault.
Property Damage Liability
This form of protection covers property damage and loss of use to a third party.
Comprehensive Coverage
This insurance pays for damages and loss other than that caused by a collision. It is subject to a deductible.
Collision Coverage
This insurance pays for damages and loss caused by impact with another automobile, object or person. It is subject to a deductible.
Medical Payments
This type of protection will cover you if you’ve been injured in an accident, regardless of who’s at fault. Coverages include income continuation, loss of services, funeral expenses and child-care expenses.
Rental Car.
This coverage takes care of renting a vehicle while yours is being repaired for more than 24 hours.
Uninsured Motor Vehicle.
This protection pays for medical expenses if you’re injured in a vehicular accident caused by someone who doesn’t carry liability insurance.
Roadside Assistance.
This protection covers a vehicle breakdown due to a non-accident incident. Covered incidents include towing, battery jump-start, locksmith, flat tire change, fuel delivery.
Gap Coverage.
Gap insurance takes care of your expenses if your loss is greater than what’s covered by your policy. For instance, if you still owe $33,000 on a car but it’s valued at 30,000, you will still have to pay off $3,000 if it’s a total loss. Gap insurance would cover that remaining balance.
Agreed Value Coverage.
You agree with your car’s worth when you buy your policy. If your car is stolen or totaled, Chubb writes a check for the agreed amount.
Choice of Repair Shop.
You have the freedom to choose your mechanic and body shop. If you need a referral, Chubb can help you through the Masterpiece Auto Preferences Services (MAPS).
Original Equipment Manufacturer.
Chubb uses original equipment manufacturer (OEM) parts and procedures.
Safety Advocates.
Auto technical specialists oversee all repairs with a focus on safety and quality so your car can meet manufacturer specifications.
Removal of Personal Information.
If your car is totaled, Chubb makes sure all identifiable information is removed from the vehicle. This includes addresses, phone numbers and more.
Worldwide Rental Coverage.
You never have to worry about overpaying for rental car insurance when you travel. Chubb covers rental cars anywhere in the world.
Rental Car Reimbursement.
With Chubb’s rental car reimbursement, you can rent a car just like your own with no per-day limit if you’re in an accident in an insured car.
High Coverage Limits for Liability and Uninsured/Underinsured Motorists (UM/UM) Coverage.
Chubb offers some of the highest limits for liability coverage, which will save you money if you find yourself in an accident or lawsuit.
Discounts
| Multi-Vehicle Discount | Accident-Free Discount |
| Airbag Discount | Anti-lock Braking System Discount |
| Anti-theft Discount | Defensive Driving Discount |
| Good Student Discount | College Graduate Discount |
Chubb Auto Insurance Rates by State
Chubb Auto Insurance Rates by Vehicle
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Chubb Auto Insurance Rates by Homeownership
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Chubb Contact Info
| Address | 15 Mountainview Rd, Warren, NJ 07059 |
| Phone | (908) 903-2000 |
| Website | https://www.chubb.com/us-en/ |
| https://www.facebook.com/ChubbInsurance/ | |
| Youtube | https://www.youtube.com/channel |
| https://www.linkedin.com/company/chubb/ |
Methodology
The statistics listed on this page are from our own in house reporting. We track and record quotes that carriers have provided based on various criteria. The rates and averages shown on this page should only be used as an estimate.
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Fran Majidi manages content on SmartFinancial's website. She's had nearly a decade's worth of experience writing about insurance-related topics. Prior, she was an arts and entertainment editor in New York City. She has a B.A. from Barnard College and an M.F.A. in writing from The New School. She writes books under her given name, Afarin Majidi.
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