Chubb home insurance review 2024

Chubb home insurance rates

Chubb’s home insurance rates sit higher than the national average, meaning you can probably find a cheaper option depending on your needs.

Chubb vs. other home insurance companies

Chubb home insurance is more expensive than many homeowners insurance companies, according to our analysis of rates.

Here is how Chubb’s average home insurance rate for $350,000 worth of dwelling coverage compares to other insurers.

Chubb home insurance coverages

A standard home insurance policy, also known as an HO-3, offers protection in six key areas:

• Dwelling coverage: Covers repairs or replacement of your home, including any attached garages, decks or other structures.
• Other structures coverage: Pays to repair or replace structures unattached to your dwelling, such as sheds or fences.
• Personal property coverage: Pays to replace or repair personal items such as clothing, electronics and furniture, after figuring depreciation. (Chubb Masterpiece policies include replacement cost for personal property coverage, meaning you’ll be reimbursed at today’s prices.)
• Additional living expenses coverage: Reimburses lodging, meals, laundry services, pet care and other approved living costs if your main dwelling becomes uninhabitable due to a covered issue.
• Liability coverage: Pays for other people’s medical bills and repairs if you are responsible for harm to someone else or their property, and for your legal expenses if they sue you. Coverage typically ranges from $100,000 to $300,000, but with Chubb Masterpiece homeowners insurance, you can get anywhere from $1 million to $100 million in liability coverage.
• Medical expenses to others coverage: Pays for a guest’s minor medical expenses if they’re injured in your house, regardless of who was at fault. The coverage limit is typically $1,000 to $5,000.

Additionally, Chubb customers can take advantage of numerous complimentary services. These include:

• Wildfire Defense Services: Designed for homeowners living in states prone to wildfires, this service connects them with professionals who complete risk assessments and recommend options for protecting the structure. If a home is threatened, Chubb can send out teams to add fire-blocking gels and remove combustible materials. The team returns your home to its original state after the danger passes.
• HomeScan: Helps you identify any leaks, faulty electrical wiring and missing insulation in advance of issues happening.
• Preferred providers network: Connects homeowners with vetted home professionals, including contractors, security experts, transportation companies and fire prevention specialists.

Chubb Masterpiece homeowners insurance policy

Chubb offers the Masterpiece homeowners coverage plan for homeowners seeking a more robust policy. Benefits of this coverage include:

• Extended replacement cost: Provides an extra layer of protection by covering repairs and rebuilding of your house even when the cost exceeds your policy limits. This also includes covering upgrades required by building laws or ordinances.
• Home appraisal: Chubb agents walk through your house to review the structure and your personal property to make sure you have enough coverage. They also provide fire prevention and security feature recommendations.
• Replacement cost coverage: Designed to protect your personal property, replacement cost coverage pays the full amount (up to policy limits) to replace items in your house to the same standard and quality, without factoring in depreciation.
• Temporary living arrangements: In addition to reimbursing expenses if your house becomes unlivable and you need to relocate, this enhanced coverage pays for a rental or hotel in your school district and/or other requirements.
• Cash settlement: If you experience a covered total loss but decide not to rebuild – or to rebuild on a different lot – this allows you to take a cash settlement up to your policy limit.
• Increased liability limits: With a Chubb Masterpiece policy, you can get up to $100 million in liability coverage.
• Waterbackup coverage: Pays for repairs for water damage caused by water backup from interior sewers and drains.
• Extras: Other benefits included in this policy include post-storm tree removal, electronic data restoration after a virus and replacement locks if keys get stolen or lost.

What does Chubb home insurance cover?

A standard home insurance policy from Chubb, also known as an HO-3, covers your house against all problems, or perils, unless explicitly listed as an exclusion within the policy.

However with your personal property, you’ll only be covered for repairs if your belongings are damaged by any of the 16 problems specifically outlined in your policy, including:

• Fire and lightning.
• Windstorm and hail.
• Explosions.
• Riot or civil commotion.
• Damage caused by aircraft (not your own).
• Damage caused by vehicles (not your own).
• Smoke.
• Vandalism or malicious mischief.
• Theft and home break-in.
• Volcanic eruption.
• Falling objects.
• Weight of snow, sleet or ice.
• Accidental discharge or overflow of water or steam.
• Sudden and accidental tearing apart, cracking or burning.
• Freezing.
• Sudden and accidental damage from electrical current.

What doesn’t Chubb home insurance cover?

Not every problem or type of damage is covered by home insurance.

• Flooding: A standard homeowners insurance policy does not cover flood damage, but Chubb offers flood insurance as a separate policy for an additional fee.
• Earth movement: If you live in an area prone to earthquakes, mudslides or volcanic movement, note that your home insurance doesn’t cover these perils. Chubb offers separate earthquake coverage for an additional fee in certain states.
• Water backups: If your sump pump or sewer pipes backup, they can cause damage within your home. These issues aren’t covered in your regular homeowners insurance, but Chubb Masterpiece policies include this coverage.
• Neglect: Failing to keep up with required maintenance around your home can result in issues such as a failing roof or broken HVAC system, but your home insurance won’t cover these issues since they’re seen as neglect.
• Settling: If your walls or foundation shift due to settling or movement, these issues typically must be covered out of pocket.
• Pest damage: Home insurance doesn’t cover maintenance issues or general upkeep issues, so vermin and insect infestations are not covered.

Chubb home insurance discounts

Chubb may not offer the cheapest home insurance coverage, but the company provides several discounts.

• Safety features: Installing burglar or fire alarms can help you qualify for this discount.
• New/renovated house: Because new and recently remodeled houses often have updated systems, Chubb extends this discount to help you save.
• Multiple policies: If you bundle home and auto insurance from Chubb, you can receive a credit on your premium.
• Home with valuable articles: Taking out valuable articles coverage can also result in a home insurance policy credit.
• Gated community: Living in a gated community, and/or one with a patrol system, helps lessen risks, and lower your premium.
• Fire protection: Residential sprinkler systems, fire resistive materials and masonry construction each qualify for lowered premium rates.
• Loss free: Go without a claim for a set amount of time and you can save on your coverage.
• Storm shutters: These safety devices can help protect your house in the case of storms and potentially save you money.
• Suburban rating: If your neighborhood maintains a favorable rating, ask about paying less for your policy.

Chubb home insurance customer reviews and complaints

Chubb maintains a very low level of customer complaints based on data collected by the National Association of Insurance Commissioners (NAIC). Data collected by NAIC includes complaints regarding claim denials, delays and settlements.