Chubb Home Insurance Review 2024

Chubb’s home insurance is on the pricey end, but Chubb home insurance customers have very few complaints and the company made it into our list of the best home insurance companies.

Home insurance company	Annual average cost for $350,000 coverage	Dollar difference from national average of $1,678 a year
Progressive	$729	-$949
Nationwide	$1,157	-$521
USAA*	$1,270	-$408
State Farm	$1,298	-$380
Chubb	$1,810	+$132
Farmers	$2,035	+$357
Country Financial	$2,065	+$387
Travelers	$3,220	+1,542

Source: Quadrant Information Services.
*USAA home insurance is open only to members of the military, veterans and their families.

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Chubb has been selling insurance policies since 1792 and today Chubb is the largest publicly traded property and casualty insurer in the world. Chubb is the seventh largest home insurance company in the U.S.

Home insurance policies from Chubb offer these types of protection:

• Dwelling coverage: Dwelling coverage pays to repair or replace your home and its attached structures, for example a garage or deck.
• Other structures coverage: This pays to repair or replace detached structures on your property, like a fence or shed.
• Personal property coverage: Personal property coverage pays to repair or replace your personal belongings after problems such as fire and theft.
• Liability insurance: Liability home insurance pays for injuries and property damage that you or your family accidentally do to others. For example, if someone gets hurt while visiting your home, they could make a claim on your liability insurance. It also pays for a legal defense if you are sued because of an accident covered by your policy.
• Additional living expenses: Loss of use, or additional living expenses coverage, pays for extra costs such as lodging, meals and other expenses (like laundry services) if you cannot live at home because of a problem covered by the policy, like a house fire.
• Extended replacement cost coverage. This is a good option that will pay a certain amount above your dwelling coverage amount if repair costs exceed the stated amount. When construction costs spike, extended replacement cost coverage can fill the gap.
• Medical payments: Medical payments coverage pays for smaller medical bills, typically up to $5,000, of people accidentally hurt on or off your property, not including household members. Medical payments coverage doesn’t consider what was at fault.

Chubb offers several complementary services to its customers, such as:

• HomeScan is a service that can help you find leaks, missing insulation and faulty electrical connections before damage happens.
• A preferred service providers network gives you access to pre-qualified professionals such as alarm and security companies, building contractors, fire prevention specialists, fine art appraisers, art warehouse and transportation services, and art restoration specialists.
• Wildfire Defense Services gives homeowners in certain states access to specialists who will assess your home’s risk and recommend ways to better protect your home. If your home is threatened by a wildfire, Chubb will deploy a team to take necessary actions such as removing combustible materials and applying fire-blocking gel to your home. After the wildfire passes, the team will return any items taken from your home and remove the fire-blocking gel.

If you are looking to add-on to your policy, Chubb can sell you flood insurance and earthquake insurance.

Homeowners looking for an extra layer of liability protection may want to consider buying umbrella insurance policy from Chubb. Your umbrella policy kicks in when the liability from your home, auto and other insurance types are exhausted.

Related: Cheapest Homeowners Insurance Companies Of 2024

The Chubb Masterpiece Homeowners coverage offers several perks worth considering, including:

• Cash settlement. If your home is destroyed and you decide not to rebuild or you prefer to rebuild at a new location, you can opt for a cash settlement, up to your policy limit.
• Extended replacement cost. If the cost to rebuild your home is higher than your policy limit, this coverage kicks in and pays to repair and rebuild your home to its original condition.
• Extra coverage types. Chubb Masterpiece includes coverage for problems like restoration of electronic data destroyed by a computer virus, tree removal after a storm, lock replacement if your keys are stolen or you lose them, and HomeScan, which can help find leaks, missing insulation and bad electrical connections.
• Generous liability limits. You can get personal liability home insurance limits up to $100 million.
• Replacement cost coverage. This pays to replace the things inside your home, such as custom cabinets, flooring, carpentry and upgraded appliances. You can also choose a cash settlement option if you don’t want these items replaced.
• Risk consulting. This includes complimentary home inspections from risk consultants to help ensure your home is adequately covered.
• Temporary living arrangements. If you cannot live in your home because of a problem covered by your policy (like a fire), Chubb will help you find a similar home in your school district or a suitable hotel.
• Water backup coverage. Pays up to your policy limits for water damage repairs if interior sewers and drains back up.

Chubb offers a variety of home insurance discounts, including:

• Burglar alarm discount.
• Fire-resistive discount if your home’s outdoor walls, roof and floors are made of fire-resistive materials..
  Suburban rating discount if you live near a fire hydrant, have a direct fire alarm and the fire department is within four miles of your home.
• Gated community discount if you live in a gated community with security guards or locked gates that require ID to enter.
• Portfolio discount when you buy both home and auto insurance from Chubb. There’s also a discount for buying both a valuable articles policy and home insurance.
• Payment history discount if you paid your annual premium in full at least two years within the past five years.
• Lien-free discount if you no longer have a mortgage on your home.
• Residential sprinkler system discount.
• New house discount if your house was built within the past 15 years.
• Hail-resistant roof covering discount if your roof meets certain hail-resistant standards.

Chubb has one of the lowest complaint levels compared to other companies we analyzed. Chubb’s complaint level is well below the industry average, which can show a high level of customer satisfaction. The National Association of Insurance Commissioners collects complaint data from state departments of insurance.

To find the best home insurance we scored companies based on these factors:

• Home insurance rates (50% of score): Based on average rates for each insurance company for homes with dwelling coverage of $200,000, $350,000, $500,000 and $750,000.
• Complaints (20% weight): Based on complaints about home insurance that were upheld by state insurance departments. Source: National Association of Insurance Commissioners.
• Availability of extended and/or guaranteed replacement cost coverage (20% of score): Extra dwelling coverage is valuable in the event of large disasters, when construction materials and labor costs tend to spike. We gave points to companies that offer either extended or guaranteed replacement cost coverage. Source: Forbes Advisor research.
• Banned dog lists (10% of score): Banned dog breed lists can make homeowners ineligible for coverage. (A company’s banned dog list might not be applicable in all states.) While any homeowners insurance company could potentially ban any dog with a biting history, not all put a ban on specific breeds. Source: Forbes Advisor research.