Private Clients

Jewellery and Fine Art

Launched in the UK in 1996, Chubb’s Masterpiece household product is a market-leading insurance policy designed specifically for high net worth individuals. We understand the risks our clients face and our innovative approach reflects this, delivering comprehensive worldwide coverage.

Jewellery can be insured either as a collection or as part of your home policy. We offer enhanced services including restoring damaged items while compensating you for any loss in original value due to the repair.

While some items cannot be replaced like-for-like, you can have the choice of replacing them with something similar from your own supplier, or keeping the full cash settlement. Also, if you lose one item from a pair or set, you can choose the full replacement cost or we can just repair a damaged item, and provide settlement for any reduction in the value of the pair or set as a whole.

To help protect your cherished valuables, you need a policy that keeps pace as values increase and your portfolio develops. With Masterpiece, you'll get total peace of mind, thanks to exceptional cover and superior service.

What does it cover?

  • You have automatic worldwide cover for ‘all risks’ with almost no restrictive conditions. Our policy includes accidental loss or damage and you’re covered when travelling – eliminating the need for separate personal effects cover.
  • If your jewellery is lost, stolen or damaged beyond repair, our ‘agreed value’ for specified items gives certainty about the financial consequences in the event of a claim. We’ll pay you the full sum insured (not a depreciated ‘market value’) with no deduction for excess. There’s also a lower premium rate for specified jewellery.
  • If you lose or damage part of a ‘pair’ or ‘set’, we’ll offer to take the remaining parts and we’ll pay you the full agreed value of the entire set.
  • If your jewellery loses value after damage we’ll compensate you for any loss in its agreed value due to the claim.
  • Under our Signature policy, if you buy a new piece, we’ll cover new purchases immediately for 90 days, 60 days under our Initial and Masterpiece policies. After the 60 or 90 day period, we must be instructed to add the items to the policy to avoid underinsurance.
  • No valuations are necessary for jewellery under £50,000 and we can insure collectables separately.
  • Similar generous terms apply to art, antiques, guns, wine, instruments, handbag collections and other collectibles.

Get in touch

Our policies are available through brokers. If you are looking to arrange cover but don’t currently work with a broker, we recommend speaking to the British Insurance Brokers Association for more information. For any other enquiries please contact our Private Clients team

If you are a Chubb policyholder and need to make a claim, you can call the Chubb 24 hour freephone number on 0800 018 0678 or +44 207 031 3905 when calling from outside the UK, or email us at masterpiece-ukclaims@chubb.com

Case study

A Masterpiece policyholder lost a vintage Rolex whilst out sailing. The watch was of huge sentimental value as it belonged to his father. Understanding this, we offered to send out a diver to see if it could be located. Luckily, visibility was good and the watch was found. If it had not been recovered, we would have paid the agreed value of £35,000 with no deduction – letting the watch be replaced, or not, as the policyholder wished.

With an ordinary policy

With a standard insurer it’s unlikely there would have been any attempt to recover the watch, despite its sentimental value. Instead, the insurer would simply have offered the trade price of around £28,000, less any excess. A shortfall of over £7,000.

Download

Jewellery and fine art brochure
Jewellery and fine art brochure
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