Chubb is an insurance company offering personal auto, home, and small to large business insurance. Since it started over a century ago, it has grown from a small business insuring ships to a global provider offering insurance, including general liability, workers’ compensation, commercial property, and professional liability.
It operates a dedicated page for small businesses with limited online capabilities for quotes and works with independent agents across the country. In this Chubb small business insurance review, we will dive into its coverages, services, and customer reviews.
Pros
- 24/7 availability
- Financial strength
- In-house claims and risk management teams
Cons
- Online quotes are very inconsistent
- Cannot purchase same-day coverage
- Minimal customization with coverage online
Standout Features
- Appetite for small businesses with revenue up to $30 million
- Highly tailored industry-specific policy packages
- Ability to file and track claims, as well as upload documents, online
- International coverage available for small businesses
Financial stability: Rating of A++ (Superior) from AM Best
When To Use
Chubb Insurance Alternatives
 |  |  |
|---|---|---|
Best for: Businesses looking to save money by comparing quotes | Best for: Small business owners having trouble finding coverage | Best for: Newer businesses with annual revenue of $5 million or less |
AM Best Financial Rating: A- to A+ (Excellent to Superior) | AM Best Financial Rating: A- to A+ (Excellent to Superior) | AM Best Financial Rating: A- (Excellent) |
Chubb Small Business Insurance Options
As a large multinational insurance company, Chubb has the typical base policies any small business needs while offering some additional coverages too. Any specialized coverage it offers is not readily available online, so you would need to work with an agent to learn more about availability. Its offerings are available in all 50 states and Washington, D.C., and in 54 countries. Click on the headers below to learn more about each coverage.
Chubb general liability insurance provides coverage for property damage, bodily injury, and personal and advertising injury. It also includes medical payments coverage. This offering is the normal base package for general liability insurance you will find with most providers.
In our evaluation of the best providers for general liability insurance, we determined that Chubb is the best for marketing companies. One reason is that it offers a general liability policy for marketing companies that has global coverage rather than limited to the US and its territories.
Chubb offers commercial property insurance—but from available details on its website, it appears it is targeted at larger businesses and not necessarily a mom-and-pop style business. It has limits of up to $650 million. Its target industry for this coverage is businesses in real estate development, management, and hospitality.
The Chubb business owner’s policy (BOP) combines general liability and commercial property with business income—and included in business income are coverages for accounts receivable, forged checks, and employee dishonesty. However, liquor liability coverage is unavailable under the BOP, so if you have a bar and restaurant or are a food vendor, check out our guide to the top liquor liability insurance companies for this important coverage.
Additionally, Chubb offers a number of endorsements, or as it calls it, “enhancements,” such as equipment breakdown, earthquake, and liability. For example, professional liability is included in its BOP for barbers, dental labs, florists, funeral directors, and veterinarians.
Chubb regularly ranks as one of the best workers’ compensation companies by our evaluation and by the total amount of policies sold. Its workers’ comp services include pharmacy benefit management, medical bill repricing, and adjuster contact within 24 hours of receiving a claim. It offers a foreign policy package with workers’ comp for employees who travel internationally for work.
Chubb sells a cyber liability policy called Digitech® ERM. Within this package are multiple types of coverage—including virus, malware, data breaches, business interruption, ransomware attacks, and standard cyber liability. It also offers Chubb Cyber panel, which is its name for risk management for cyberattacks. The panel has response coaches, expert feedback, and the resources of a forensics firm.
Chubb’s original business insurance offerings were in the field of management liability, particularly directors and officers (D&O) insurance. It has a management liability package called ForeFront Portfolio specifically for small businesses in the private, nonprofit, and healthcare sectors. Coverages include D&O, employment practices liability insurance (EPLI), fiduciary liability, and kidnap and ransom.
While Chubb sells commercial auto insurance, the information available is very minimal, and you cannot get a quote for it online. The provider states it has limits of up to $1 million for underinsured coverage. For more information on this coverage, you’ll need to contact an agent.
Chubb’s umbrella liability policy is a standard excess liability policy. It is available for small, midsize, and large businesses.
Chubb Business Insurance Covered Industries
Because of its appetite for higher annual revenues, Chubb’s covered industries are more expansive than you’d see from a provider like Hiscox or Next, which only offer insurance for small businesses.
It states it will offer insurance for small businesses with one employee up to a business with annual revenue of $30 million.
Some industries that Chubb covers are
- Real estate and hospitality
- Business services
- Communications and telecommunications
- Financial services
- Healthcare
- Educational institutions
- Manufacturing
- Retail
- Construction
- Food and restaurant
Obviously, within these sectors are a number of different types of businesses. For example, healthcare includes home health, nursing and elder care, veterinarians, and medical clinics. Meanwhile, communications and telecommunications include broadcast and local newspapers.
Chubb Business Insurance Quoting Process & Costs
Quoting Process
Chubb’s small business insurance is available online or through agents. However, in researching this Chubb small business insurance review, and in my prior experience of researching and evaluating the provider, it is usually difficult to receive an online quote. If it does generate one, you will be given the option to purchase a policy online.
To get small business insurance from Chubb online, you will need to visit its dedicated webpage for small businesses. The first question will be if your annual revenue is less than or more than $2 million:
- If your revenue is $2 million or less, then you will be given the chance to answer questions specific to your company: industry, year founded, number of employees, address, and more.
- If it is more than $2 million, you are then given the option to request a call from an agent or search geographically to find one that is in your area and then call them.
It’s worth noting that the provider does not offer same-day coverage. And when working with the online quote, there isn’t any option to customize the coverage—though you can adjust the limits. Also, most lines of business are unavailable for online quotes: the focus is on BOP, general liability, workers’ comp, and cyber insurance.
Quotes We Received
Typically, when researching these articles, I will obtain multiple quotes for a wide range of industries to provide you with a reasonable average for the cost of insurance. However, despite repeated attempts, I was able to get only three quotes:
- A BOP for an accountant: It cost $491 annually and carried $2 million aggregate limits for general liability and $20,000 in property coverage.
- A BOP for an advertising agency: It cost $571 annually, with $2 million aggregate limits and $50,000 in property damage.
- A general liability policy for a painter: It cost $322 annually and carried limits of $1 million per occurrence and $2 million aggregate.
Chubb Claims Process & Other Services
As an insurance provider, Chubb maintains its own in-house adjusters to handle claims and has a 24/7 claims reporting line. The provider stresses fast response times for claims and has a commitment to the adjuster being in touch within 24 hours of receiving the claim assignment. Online, you can file a claim, upload documents, and track the progress of the claim.
Beyond the traditional 24/7 claim line, its other operations are Monday through Friday from 8 a.m. to 8 p.m. Eastern time. It does not have any online chat options.
A unique feature that Chubb has is called Chloe, which is an AI coverage companion. Chloe helps you figure out what coverage is right for your business by asking questions about your business. However, it doesn’t give you the answer online but instead sends it to your email.
Through its commercial client center, you can manage your policy. However, there is no clear information on how to get a certificate of insurance (COI) other than to contact your local agent.
Chubb Small Business Insurance Reviews
While researching for our Chubb small business insurance review, we examined data produced by government, nonprofit, and third-party websites to determine how customers experienced and viewed Chubb small business insurance.
When you exclude personal line complaints through the National Association of Insurance Commissioners (NAIC), Chubb has higher-than-average complaints. This trend continues when examining a review site like WalletHub that lists both personal and business feedback, where it does not score well on either line of business.
Complaints With the Department of Insurance
Surprisingly, insurance is not federally regulated. Each state maintains a department of insurance that regulates insurance at the state level. Most of these departments are run by an insurance commissioner who belongs to the NAIC. This organization tracks complaints filed against a carrier at the state level, among other things.
In my analysis of Chubb, it has lower-than-expected complaints for a company of its size. However, that includes its personal lines insurance. Examining the commercial side, its complaints are slightly higher than expected.
Third-party Reviews
J.D. Power, which draws on data from over 2,000 customer responses to survey questions, awarded Chubb a score of 855 out of 1,000. This score ranks it in second overall in its US small commercial insurance study.
On the third-party review site WalletHub1, there are about 20 reviews of Chubb. These encompass both personal and business insurance lines. Overall, it has a score of 2.7 out of 5 stars.
Frequently Asked Questions (FAQs)
Chubb has a 24/7 call center for claims reporting, including workers’ comp. For other business needs, it is open 8 a.m. to 8 p.m. ET.
For general billing questions. call (833) 550-9660. However, if you purchased the policy from its dedicated small business website, you will need to call (866) 972-2727. For other needs or questions, you are directed to contact your agent.
Yes, it does, and has a higher revenue limit than other providers, with a small business being defined as having $30 million or less in annual revenue.
Yes. Chubb offers personal auto, home, life, and large commercial insurance.
You can get a quote online or from an agent. To get a quote online, your business must have $2 million or less in annual revenue. It has a geographic agent locator for you to contact an agent in your area.
You can file a claim online or by email at claims.smallbusiness@chubb.com. You can call it at (844) 539-3801. For workers’ comp, you can call (800) 433-0385 or email chubbclaimsfirstnotice@chubb.com.
Chubb’s financial rating from AM Best is A++ (Superior).
Bottom Line
Chubb is a global insurance company with products for small businesses and larger commercial operations. It may be too large for some small business owners with multiple phone numbers to keep track of simply for billing questions. That said, it does have a large range of tailored policy packages for different industries with thoughtful endorsements that provide quality coverage for your business.
User review reference:
1WalletHub
