Agreed value approach
Chubb likes to say 'we try to settle a loss before it happens'. From day one you can be reassured that your possessions are covered to the agreed insured value without quibble. With Masterpiece, you may individually list all of your valuable possessions with a specific value for each piece. In the event of damage or a loss, you will receive payment for the exact amount listed for the item.
Cover for loss in original value
If an item is damaged, we will pay to restore it as perfectly as possible. Plus we will compensate you for any loss in original value due to the damage.
Cash or replacement option
Some items cannot be replaced like-for-like. So you have the choice of replacing an item with something similar from your own supplier, or keeping the full cash settlement.
Valuations only required for high value items
We do not require valuations for all your valuable possessions. We only ask for valuations if an item exceeds £25,000 for jewellery and £50,000 for other valuables. Chubb has specially negotiated rates with leading valuation companies.
Replacement of a pair or set
If you lose one item of a pair or set, you can choose to receive the full replacement cost of that pair or set if you provide us with the remaining piece(s). We also repair a damaged item, and provide settlement for any reduction in the value of the pair or set as a whole.
"All risks" worldwide cover, including accidental loss and damage
Our broad coverage means all your possessions are automatically covered wherever you are in the world.
Instant cover for newly acquired pieces
You have automatic cover for any newly acquired jewellery and collectibles - for up to 25% of the specified sums insured, for up to 60 days. Limit of £500,000 for fine art and £100,000 for other valuables.