Chubb Renters Insurance Review 2024

Renters insurance is generally a good value for the coverage you can buy, but Chubb’s average renters insurance costs are very high compared to top competitors, especially for higher levels of coverage. Only Chubb’s rates for $15,000 of coverage were competitive in our analysis.

	Average annual renters insurance cost for $15,000 of personal property coverage	Average annual renters insurance cost for $30,000 of personal property coverage	Average annual renters insurance cost for $50,000 of personal property coverage	Forbes Advisor rating
State Farm	$102	$121	$153
Westfield	$136	$156	$183
American Family	$154	$189	$231
Auto-Owners	$113	$147	$196
USAA	$116	$155	$196
Allstate	$109	$153	$215
Country Financial	$174	$201	$253
Nationwide	$129	$163	$207
Chubb	$111	$173	$267
Travelers	$244	$310	$432
Average	$143	$186	$247
Source: Quadrant Information Services. Rates include $100,000 in liability coverage and $1,000 in medical payments coverage. *USAA is available only to the military, veterans and their families.

Related: Cheap Renters Insurance

Renters insurance covers your personal belongings and includes other coverage, such as liability insurance and additional living expenses coverage.

Personal property: Renters insurance covers damage to and destruction of all your belongings, from furniture to clothes to decorations. Fire, smoke, vandalism, tornadoes and theft are among the problems covered.

Liability: Liability insurance can pay for lawsuits against you, including settlements and your legal costs. For example, if you’re legally liable for accidental property damage or injury to someone else, your liability insurance can kick in.

Medical payments: This coverage pays for minor medical costs regardless of who is at fault. For example, if a guest trips in your apartment and has a small medical bill for a cut, they could make a claim on your medical payments coverage. Coverage amounts often start at $1,000.

Additional living expenses: If you are unable to live in your rental because of a tornado,  fire or other problem covered in your policy, additional living expenses coverage can pay your extra bills. This could include hotel bills, laundry service and pet boarding.

Chubb renters insurance provides the standard coverage types above as well as these options:

Replacement cost coverage. This pays the full cost to replace your personal belongings with new, similar items if they’re destroyed by a problem covered by the policy. This is better coverage than actual cash value, which pays only the depreciated value of possessions.

Rental car insurance. You’ll receive primary car insurance all over the world when your liability limit is $1 million or higher.

Look for these possible discounts if you’re buying renters insurance from Chubb.

Burglar alarm discount if your residence has a central station or a direct-reporting burglar alarm.

Fire resistive discount if your apartment unit has exterior walls, floors and a roof made of fire resistive materials such as masonry.

Gated community discount if your home is located in a gated community with an entrance controlled by guards or locked gates at all times, proper I.D. is needed to enter and visitors are announced.

Gated community patrol service discount if your apartment or rental unit is in a gated community with a fire or burglar alarm that alerts a 24-hour patrol service.

Suburban rating discount for homes located over 1,000 feet from a fire hydrant or other approved water source but that has a central station or direct fire alarm, and other rules.

At Chubb, you can report insurance claims, 24 hours a day and 7 days a week. You may report your claim online, by phone, by fax and to your local Chubb agent.

Chubb sells a variety of insurance products, including:

• Cars
• Classic cars
• Condos and co-ops
• Cyber insurance
• Boats and yachts
• Businesses
• Houses
• Life insurance
• Travel

Related: Best Classic Car Insurance

To identify the best renters insurance companies, we evaluated each company based on the following.

Renters insurance rates (80% of score): We scored each company’s renters insurance rates based on national averages for policies with $15,000, $30,000, $50,000, $75,000, $100,000 and $200,000 worth of personal property coverage. Source: Quadrant Information Services.

Complaints (20% of score): We used complaints about home insurance (which includes renters insurance) upheld by state insurance departments. Most home/renters insurance complaints center on claims, including unsatisfactory settlements, delays and handling of the claim. Source: National Association of Insurance Commissioners.