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Due to Hurricane Harvey, I had my 2014 Mahindra 5010 4WD with front end loader, cab and a/c, 60 hours and very good to excellent condition, declared a total loss. Chubb valued at $24k, the best I can find and with more hours, is $29,000. They sent the docs for me to sign off on and I informed them no. In the response I detailed the above info and asked how they arrived at such a low value. That was one week ago and have received no other email communication from them as of that date. Fortunately the other insurance companies covering total losses for me have been great, including Progressive and County Mutual out of Ohio. They moved swiftly and fairly, paid quickly. With this in mind, I would never recommend using their services. As a matter of fact I will recommend against using them.
There are too many variables to accurately do honest comparisons of companies. For example, most do not include specific coverages to convey how much a customer could save. Also, companies do not provide enough information to possibly evaluate different companies.
It has all been good and have never had a problem with them. When I have leased a new car every three years, the process of obtaining insurance from my provider has been effortless. When my kids became of age to drive, I have added them onto my policy as an additional driver without a problem. They make it so easy to deal with this insurance company.
Chubb expert review by Matthew Brodsky
Founded in 1882, Chubb started as a marine underwriting business. From there, they have expanded greatly, insuring everything from homes to collectable cars. Now, the company has customers from 28 different countries around the globe.
- Policies: Chubb offers policies for many different collectible vehicles. These vehicles are classic motorcycles, classic cars, vintage trucks, vintage military vehicles, antique tractors and antique cars.
- Agreed Value: Chubb has four different coverage types for your collectible car. The first is Agreed Value. This coverage allows you to know the value of your car at the time you purchase the policy. The benefit comes if your car suffers a covered total loss, after which there is no discussion on the value of your car.
- Comprehensive and collision: The second type of coverage is comprehensive and collision, which will cover damages that occur to your car in the event of a collision, fire, theft and other damages. There is also no deductible.
- Liability and Uninsured Motorist: If you are driving your collectible car and you are hurt by the driver of an uninsured car, you are covered if you have this type of policy. There is also liability limits up to 50 million dollars with this policy.
- Parts and Equipment: With this policy type, Chubb will work with your restoration shop to ensure that your vehicle is restored properly after a part breaks or is damaged.
- Best for: Owners of classic motorcycles and cars, vintage trucks and military vehicles, and antique cars and tractors.
Insurance Contributing Editor
Matthew Brodsky is an established expert on insurance, having written hundreds of articles and other pieces of content on the subject, interviewed countless practitioners, and attended dozens of conferences and events. He served as an editor at industry magazine Risk & Insurance for six years.
Chubb Company Information
- Company Name:
- Year Founded:
- 15 Mountain View Road
- Postal Code:
- United States
- (908) 903-2000