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This auto insurer is a good fit for: Customers willing to pay a premium for more comprehensive coverage and white-glove service.
Chubb Auto Insurance is more expensive than many competitors, and its premium prices are higher than industry averages for most drivers. In 2022, the national average auto insurance premium was $2,875 per year for all drivers, but Chubb's average annual premium was $3,231. Chubb is also more expensive for drivers with an accident or DUI on their records, although the insurer is cheaper for new drivers.
Chubb offers a limited number of discounts for motorists. Drivers can save money for bundling home and auto coverage, insuring multiple vehicles, completing driver training or taking an accident prevention course, or for buying vehicles with certain safety features such as passive restraint systems, anti-lock brakes, anti-theft devices, or daytime running lights. However, Chubb is missing other discounts many competitors offer. This includes a discount for new vehicles, good driver discounts, or savings for securing quotes online.
Chubb's focus is on covering high net worth drivers with expensive vehicles. There's no per-day limit on rental car coverage, so those involved in a collision who have luxury vehicles can rent comparable cars. And Chubb clients can opt to buy coverage that guarantees they'll receive a certain sum for their vehicle if it is declared a total loss. They will receive enough money to buy a new luxury or classic car regardless of how old their current car is or how many miles it has.
Chubb claims that 97% of clients who made a claim with the company were "highly satisfied" with their experience. Although Chubb was not included in J.D. Power's auto insurance claims satisfaction study for 2021, J.D. Power's data show the insurer received high rankings for customer satisfaction when it comes to property claims. Only MetLife and Auto Owners Insurance received higher rankings.
Monthly premium costs:
Chubb received top ratings from J.D. Power in its property claims satisfaction survey. It ranked third, with only MetLife and Auto Owners receiving higher rankings. The insurer also touts a 97% customer satisfaction rating among clients who made claims. The claims-handling process is made easier because Chubb offers a choice of repair shops.
Chubb allows drivers to choose a rental car that fits their lifestyle. There's no daily limit, and Chubb provides up to $15,000 in total rental car reimbursement when a covered vehicle is out of service following an accident. This means drivers can drive temporary vehicles comparable to the ones they own. Rental car coverage is also available worldwide.
Chubb offers Agreed Value Coverage. With this type of protection, policyholders and the insurer agree on what the car is worth at the time when the driver obtains protection. If the car is declared a total loss or is stolen, Chubb pays out the pre-arranged sum regardless of the car's age or mileage.
Chubb's premiums for a 35-year-old female with a clean driving record are $424 per year higher than the national average. Chubb also charges higher premiums for drivers with an accident or DUI on their records.
While Chubb offers some industry-standard discounts such as for bundling multiple policies, insuring multiple vehicles, or completing defensive driving courses, it's lacking in savings opportunities other insurers provide. For example, while Geico offers a new-vehicle discount and Progressive offers the opportunity to save money for getting online quotes, Chubb provides neither.
Chubb has around 8,000 producers worldwide that help customers to obtain products and services. By contrast, competitors such as Geico have more than 43,000 associates.
When looking for an auto insurer who offers lower premiums: Geico charges average annual premiums of $1,973 per year for all drivers compared with $3,231 for Chubb. Geico also provides considerably more discount opportunities, so it may be a better fit for those looking for the most affordable coverage.
Chubb's prices are higher than the national average for most drivers. While a 35-year-old female with a clean driving record would be looking at a national average premium of $2,239, the same driver insured by Chubb would pay over $400 more annually. Likewise, drivers with one accident would pay $673 more per year with Chubb compared with the national average for the same driver and those with one DUI would pay $807 more.
The exception is for new drivers -- an 18-year-old inexperienced motorist would pay an annual premium of around $5,368 with Chubb compared to the national average of $6,087.
|35y, female, clean record||Driver with one accident||18-year-old new driver||1 DUI|
|$222/month, $2,663/year||$325/month, $3,899/year||$447/month, $5,368/year||$416/month, $4,997/year|
Chubb provides a limited number of discounts for drivers. These include:
Chubb offers many different types of insurance policies including most types of insurance an individual or business would need. This includes the following types of policies:
The myriad policies available offer the opportunity to save through bundling multiple types of coverage that not all insurers offer.
Chubb provides standard types of coverage including liability protection and collision coverage. However, it also offers some unique coverage options including the following:
These coverage options demonstrate Chubb's commitment to providing service to high net worth consumers interested in protecting their assets and ensuring they have a quality vehicle.
Chubb touts its high claims satisfaction ratings, claiming 97% of customers who made a claim were very satisfied. J.D. Power also ranked Chubb third in Property Satisfaction claims.
Chubb is best suited for people who:
Other insurance companies to consider include Geico if you want a wider network of agents or cheaper premiums, or Progressive if you want more access to auto insurance discounts including savings for getting policy quotes online.
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