With Chubb, small business customers have access to a wide variety of policies, including these popular coverages:
For larger companies, Chubb has an incredible array of commercial insurance policies and industry-specific plans — the policies listed above are just the ones that Chubb has specially tailored to small business customers.
Chubb is Incorporation Guru’s top overall pick for the company with the most efficient claims payment. Let’s dig into the details to find out why and determine if this is the right company to provide your small business insurance policies.
All things considered, Chubb is a more recent addition to the small business insurance landscape, as it has only been around since 1985. That said, Chubb has risen to the top of the pack in a big hurry, as this is now the leading commercial insurer in the United States.
Chubb underwrites more business insurance policies than any other American insurer, and the top-quality service they’re able to provide is a reflection of that popularity.
Chubb is well-known for paying claims efficiently and fairly, which is most people’s top priority when choosing a business insurance provider. This company has tremendous financial strength and an excellent reputation, so you will never find yourself nervously wondering whether or when they’re going to pay a claim.
Chubb also has a strong reputation according to two trusted industry analysis firms: J.D. Power and the National Association of Insurance Commissioners (NAIC). According to J.D. Power’s 2021 U.S. Small Commercial Insurance Study, Chubb ranks as an above-average insurer for customer satisfaction and one of the top five insurance companies in the U.S. in this metric.
Meanwhile, Chubb also has a better-than-average score in the NAIC’s National Complaint Index, which weighs the number of complaints each insurer receives from customers against an industry-average complaint ratio. With the standard being a rating of 1.00, Chubb checks in at 0.93, meaning Chubb receives roughly 7% fewer complaints than the average insurance company.
Small business insurance premiums can vary significantly from insurer to insurer, as well as from industry to industry. With Chubb, we’ve found that small business policies have roughly average pricing compared to other major insurers. There are some smaller online-only insurance companies that offer better rates, but Chubb is right in line with what you’d expect from a legacy insurer.
Chubb is our top pick for small business insurance customers seeking a company with efficient and fair claims payment. The fact that it has strong J.D. Power and NAIC scores for customer satisfaction doesn’t hurt either!
With a broad selection of small business insurance policies and a higher volume of business customers than any other insurer, we wouldn’t hesitate to recommend Chubb to our family and friends.
Still, if you want to take a look at our recommended insurers for other categories — such as the best options for commercial auto insurance, industry-specific policies, and more — take a look at our complete guide to the best small business insurance providers.
Disclaimer: The content on this page is for information purposes only and does not constitute legal, tax, or accounting advice. If you have specific questions about any of these topics, seek the counsel of a licensed professional.
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