Chubb Auto Insurance Review for 2021

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Chris Tepedino is a feature writer that has written extensively about auto insurance for numerous websites. He has a college degree in communication from the University of Tennessee and has experience reporting, researching investigative pieces, and crafting detailed, data-driven features. His works have been featured on CB Blog Nation, Flow Words, Healing Law, WIBW Kansas, and Cinncinati.com. ...

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in...

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Reviewed by Rachael Brennan
Licensed Insurance Agent

UPDATED: Jul 19, 2021

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Chubb has gone through a lot of change and growth in recent years. Back in 1882, Chubb started out as a marine underwriting business based in NYC. The eponymous Thomas Caldecot and percy Chubb, a father and son duo, founded the business. As recently as 2016, Chubb was acquired by the major conglomerate ACE Limited. Today, both companies are working together to provide a diverse group of insurance coverages, including commercial, personal property, and casualty insurance, to clients in over 54 countries.

Chubb Insurance Review

As stated above, Chubb does some pretty big business not just in a variety of US states, but in an equally vast number of countries as well. And their financial strength ratings show exactly how they are capable of managing such an expansive business:

Rating Agency Rating
A.M. Best: A++
S&P Rating: AA
Moody’s Rating: Aa2
Better Business Bureau F
Yelp 2/5 stars

Based on their customer service ratings, however, it appears as though Chubb is dedicating more of its resources towards maintaining their exceptional financial strength than keeping customers happy. Granted, many of the angry reviews on Yelp are from people who did not receive payouts on claims where a Chubb-insured driver was held liable; they weren’t actual Chubb customers themselves. The “F” rating from the BBB, however, notes that 11 of the 18 complaints filed against Chubb in the past 3 years were due to “problems with product/service”.

Chubb Insurance Discounts

Many automotive insurance companies try to attract customers by advertising how much their clients save money due to a selection of discounts that the insurer provides. Chubb, on the other hand, takes a completely opposite approach. They tailor their financial products to a niche market of high income earners who want to insure expensive vehicles with a premium, comprehensive policy. Their policies are specifically crafted for motorists who drive luxury vehicles or who own classic/collector cars. But if you contact a Chubb agent directly, you might want to inquire about bundling discounts on multiple vehicles, or multi-policy discounts.

Chubb Auto Insurance Options

Chubb is a company who prides itself on the ability to issue coverage on large and expensive pieces of property. Therefore, their coverage options are targeted towards customers who have an expensive vehicle which needs coverage, several vehicles which need coverage, or both. They also pride themselves on offering more options than most standard insurance companies, such as:

  • Agreed Value Coverage – you and your insurance agent agree how much the vehicle is worth on day one of your policy, and you get that amount in the event of a total loss (works similarly to Gap-Loss coverage)
  • Choice of Repair Shop – instead of being restricted to a Chubb-approved body shop, you are free to pick one of your choosing
  • Rental Car Reimbursement – Cubb will cover rental car reimbursement for over nine times the amount of what most standard auto insurance companies are willing to cover
  • OEM Parts Coverage – if your vehicle needs to be repaired using original equipment from the manufacturer, Chubb will cover you (while some companies do not)
  • Higher Amounts of Coverage – for the basic and necessary forms of coverage such as Liability and Uninsured/Underinsured Motorists, Chubb will allow you to purchase more than most companies (which usually maxes out at around 100,000/300,000)

Comparing Chubb Insurance Quotes

Comparison shopping is the key to getting the best deal on your automobile insurance premium. But in the case of Chubb, you aren’t just comparing prices – you’re comparing coverage options as well.

Average Auto Insurance Quote ComparisonLegend: Allstate State Farm Mercury Average Rate Illinois AverageCalifornia AverageTexas AverageFlorida AverageNew York Average 50100150200250300350$52$34$89$34$146$139$88$64$71$89$260$105$147$230$353$126$72$93$231$93

If you do have an expensive vehicle which needs more coverage options and higher limits on coverage, then you’re going to have to make some compromises between price and policy options. Chubb may not be the least expensive provider in your area, but the more affordable companies probably won’t offer the extra features or higher limits that Chubb is willing to.

Pros and Cons of Chubb Insurance

Pro Con
Strong financial strength rating Bad reviews by the BBB and on Yelp
Offers unique coverage options which most standard insurance companies don’t Meant for either commercial business owners or luxury/collector vehicles
Dedicated to offering a superior product to their customers Their financial products might be outside the price range of the average driver

Chubb has a history of offering very comprehensive insurance policies to their customers. However, doing such big business across multiple states and countries has led to the development of expensive, niche-market auto policies. And these policies may fall outside the price range of your average driver. But that doesn’t mean you shouldn’t compare a free quote from Chubb against at least 3-4 other companies before you decide on a policy – no matter how expensive or economical your vehicle may be.

Chubb Corporate Headquarters
15 Mountain View Road
Warren, NJ  07059
www.chubb.com
1-908-903-2000

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