Chubb Auto Insurance: Legit Or A Scam?

Chubb Insurance is a well-known insurance company that offers a range of insurance products, including auto, home, business, and valuables insurance. The company has a strong reputation for its financial stability and is rated A++ by AM Best, indicating its superior ability to meet financial obligations and pay out claims.

Chubb's auto insurance is designed for high-net-worth individuals with expensive cars and properties. It offers generous coverage options, perks, and high policy limits that cater to this specific clientele. The company provides standard coverage options such as liability, comprehensive, and collision insurance, but also includes unique benefits like worldwide rental car coverage, original equipment manufacturer (OEM) parts coverage, and personal information protection.

While Chubb's auto insurance has excellent coverage and customer service, its rates tend to be above the national average, making it a more expensive option. The company also has a mixed reputation when it comes to customer satisfaction, with some customers citing issues with responsiveness and coverage.

Overall, Chubb auto insurance is a reputable option for individuals with high-end or classic vehicles who are seeking comprehensive coverage and are less concerned about the cost.

Chubb's auto insurance coverage

Chubb auto insurance coverage, known as the Masterpiece® policy, includes a number of perks and benefits. Here is a detailed overview of the coverage options:

Standard Coverage Options

Chubb's Masterpiece auto insurance policy includes standard coverage options such as liability insurance, uninsured and underinsured motorist coverage, personal injury protection, and comprehensive and collision coverage.

High Coverage Limits

Chubb offers generous coverage limits, providing up to $10 million in liability coverage and up to $1 million in uninsured and underinsured motorist coverage.

Original Equipment Manufacturer (OEM) Parts Coverage

Chubb covers the cost of original factory parts for vehicle repairs, ensuring that safety systems remain effective and operate as designed.

Choice of Repair Shop

Policyholders can choose their preferred mechanic and body shop for vehicle repairs, or they can use a Chubb-certified facility.

Rental Car Reimbursement

Chubb provides rental car reimbursement with no per-day spending limit, covering up to $15,000. This allows policyholders to rent a vehicle that matches or exceeds the standards of their original car.

Worldwide Rental Car Coverage

Chubb's rental car coverage extends worldwide, covering repairs to rental cars almost anywhere in the world.

Personal Information Protection

In the event of a total loss, Chubb will erase any personal data stored in the vehicle's systems, such as garage codes and saved contacts.

Optional Agreed Value Coverage

With this option, policyholders can decide on the value of their vehicle when the policy is written. If the car is totaled or stolen, Chubb will reimburse the agreed-upon amount.

Identity Management Services

Chubb includes identity management services with all auto policies. In the event of suspected identity fraud or theft, Chubb will connect policyholders with a fraud specialist to guide them through the resolution process. This includes help with filing police reports, documentation, case file development, and credit monitoring for a year.

Optional Coverage

Optional coverage options may vary by state but can include agreed value for collision and comprehensive insurance, ultra-high insurance limits, and classic car insurance for vintage or collector vehicles.

Discounts

Chubb offers a range of discounts that may vary by state. These include bundling home and auto coverage, insuring multiple vehicles, completing driver training or accident prevention courses, having safety equipment like airbags and anti-lock brakes, and good student discounts.

Chubb's customer service

Chubb's insurance policies are tailored for high-net-worth individuals with expensive assets, such as multiple homes, several cars, boats, and jewellery. The company's focus on this clientele means it does not emphasise providing cheap insurance or price breaks. Instead, Chubb offers white-glove perks, generous coverage options, and high-quality services.

Chubb's auto insurance coverage includes unique benefits such as a lifetime guarantee on repairs made in a Chubb-certified shop, rental reimbursement, coverage for original equipment manufacturer parts, worldwide rental car coverage, and identity management services.

The company's mobile app, Chubb Mobile, allows customers to pay bills, file claims, and view their auto insurance ID cards. Chubb's Mobile Estimate app provides repair estimates and, in some cases, finalises settlements on the same day.

While Chubb's rates are expensive, the company's excellent customer service, rare coverage options, and high-quality services make it a good fit for high-net-worth individuals.

Chubb's insurance rates

Chubb's home insurance rates are also more expensive than the national average. For a policy with $300,000 in dwelling coverage, Chubb's average annual premium is $3,514 compared to the national average of $2,270. Again, this is likely due to the company's focus on high-value homes and high-net-worth clients. Chubb's home insurance rates are also higher than those of many competitors, including State Farm, Allstate, and USAA.

Chubb's insurance discounts

Chubb Insurance offers a range of discounts to help reduce the cost of its insurance policies. While the specific discounts available may vary by state, here is a list of some of the more common discounts offered by Chubb:

• Multi-policy discount: Chubb offers a discount if you bundle multiple policies with them, such as combining homeowners and auto insurance, or adding life insurance or other types of insurance to your plan. This can reduce your overall insurance costs by up to 10%.
• New or renovated home discount: This discount is available for newly built homes or homes that have been recently renovated.
• Fire and security discounts: Chubb offers discounts if you have a home security system, fire alarm, sprinkler system, or fire-resistant construction. Other protective upgrades like a backup generator may also qualify for a discount.
• Claim-free discount: If you have a claims-free history for three or more years, you can save up to 10% on your policy.
• Accident prevention course: Taking an accident prevention course can lead to a discount on your auto insurance policy.
• Air bag/passive restraint: If your vehicle is equipped with air bags or other passive restraint systems, you may be eligible for a discount.
• Daytime running lights: Chubb offers a discount for vehicles with daytime running lights.
• Good student: Students with good grades may be able to save on their auto insurance.
• Safety equipment: Installing safety equipment such as anti-lock brakes or anti-theft devices may qualify you for a discount.
• SafeLane telematics program: This program tracks driving habits such as speed, cornering, and braking. It is currently available in select states and offers a discount for signing up, with the possibility of additional discounts based on your driving behaviour.

Chubb's insurance claims

Chubb Insurance is a legitimate company that offers auto and home insurance with generous coverage options and excellent customer service. The company specialises in providing insurance for high-net-worth individuals with expensive cars and properties. While Chubb's rates are generally more expensive than those of its competitors, the company offers a range of unique benefits and perks that cater to this high-end market.

Chubb's auto insurance, known as Chubb Masterpiece, includes standard protections as well as several rare add-ons. Some of the notable coverages offered by Chubb include:

• Worldwide rental car coverage
• Original equipment manufacturer (OEM) parts coverage
• Pet injury coverage
• Child safety seat replacement
• Lock and key replacement
• Personally identifiable information (PII) removal service
• Road service coverage

In addition to these coverages, Chubb also offers collector car insurance policies with special coverage options for vintage or collector cars, such as unlimited hobby use protection.

The company also provides several ways for customers to save on their auto insurance, including:

• Multipolicy discounts for bundling home and auto coverage
• Accident prevention course discounts
• Air bag/passive restraint discounts
• Good student discounts for parents who add a child to their policy

Chubb's claims process is known for being quick, simple, and efficient. Customers can submit claims online through the Chubb Claims Centre portal, which only asks relevant questions and fast-tracks the assessment process. The company's experienced claims specialists are known for their attention to detail and personal approach.

Overall, Chubb Insurance is a reputable and reliable company that provides excellent customer service and comprehensive coverage options for high-net-worth individuals. While their rates may be higher than average, the company offers a range of unique benefits that cater to this specific market.

Frequently asked questions