Masterpiece Art Coverage Highlights
Protect your treasures with some of the most comprehensive coverage available, from paintings to contemporary art. Not all collectors choose the right insurance for their carefully curated works of art with the same care. If a loss occurs, they may discover that they are paid less for the damaged item than it is worth and that there is little room for manoeuvring when dealing with a claim.
With a Chubb Masterpiece® policy, you'll get comprehensive, flexible coverage that will safeguard the exceptional items you've accumulated over the years.
Highlights of Masterpiece Valuable Articles coverage;
When you itemise each of your artworks, the policy will cover them for the agreed-upon value right away. In the event of total covered damage or loss, you will receive the agreed-upon amount in full, with no excess or depreciation.
If the market value of your item increases is higher than the agreed value at the time of a total covered loss, the policy will pay up to 125% of the agreed value (subject to the maintenance of current valuations and a maximum difference of $100,000 from the amount of the agreed value).
When you buy a new piece of art, you get immediate coverage for it within 90 days of notification, up to 25% of the total itemised coverage.
If you decide to have your damaged item repaired, the policy gives you the option of selecting your preferred restorer. You also have the option of receiving a cash settlement in the event of irreparable damage or loss.