Condominium
Chubb Personal Insurance

• Chubb’s approach to claims.  In life, anything can happen – and usually does.  Unfortunately, you never know how good your insurance policy is until you have to make a claim.  By then, it may be too late.  At Chubb, we recognize a moral obligation, as well as a contractual responsibility, to every client.  We are guided by a claims settlement philosophy that was established with the company’s founding in 1882:  Treat every customer the way we would like to be treated if we experienced the same loss – with integrity, empathy, promptness, expertise and fairness.
• Full replacement costs for contents. Your home contents, from sporting equipment to antique furniture, are covered for the cost to replace them, including applicable taxes. There are no deductions and no depreciation, and you are not required to replace an item that is lost, stolen or damaged; you can choose a cash settlement instead.
• Additions and alterations. Chubb’s Masterpiece Condominium coverage provides for upgrades and improvements made to the fixtures and fittings within the unit, such as remodeled kitchens, enhanced mouldings and upgraded flooring.  Chubb automatically provides 50% of your contents limit for additions and alterations with the option to increase or decrease this amount of coverage at any time.
• Coverage for your contents away from your condominium unit.  Many condo owners have contents, including wine collections, in storage at a location away from their condo unit.  With Chubb, you automatically have 20% of your condominium contents limit extended to contents kept at any other location you live at, rent or own.
• Rental Car Coverage.  Many condo owners in the city choose not to own a car.  With Chubb Masterpiece Condominium, any damages caused as a result of an accident in a rented or borrowed vehicle will be covered if you don’t own a car yourself.  If you do own a vehicle, rental car coverage is available through Chubb’s Excess Liability coverage.  Unlike other insurance companies or credit card companies, Chubb will cover all costs associated with a rental car accident, up to your policy limit, including original manufacturer replacement parts for the vehicle, rental to be paid by you while the vehicle is being repaired, and any applicable deductibles.
• Identity Fraud Coverage. Your condominium building may have a shared garbage and recycling room.  If it does, one day you may forget to shred your financial documents before recycling or disposing of them.  Or you may use a wireless router for your condominium internet service that a hacker is able to access.  Either way, you may find yourself the victim of identity fraud.  Chubb’s Masterpiece Condominium coverage supplies enhanced protection for some of the increased hazards of living in close proximity to your neighbours, automatically providing up to $25,000 for identity fraud expenses. 
• Coverage for Unit Assessments and Master Policy Contingent .  Prior to you moving into your condominium unit, your building may have had a history of water damage claims.  In situations like these, some condominium corporations have been forced to take very high water damage deductibles (over $100,000) or proceed without water damage coverage entirely.  If you are faced with this situation, and a water damage occurs, you may be subject to a unit assessment when the condominium corporation spreads out the costs resulting from a loss to the building.  Chubb Masterpiece Condominium automatically provides you with an additional layer of protection for your unit.  Chubb covers 250% of your contents limit for your share of an assessment to all condominium owners and up to $10,000 is included for unit assessments of your condominium corporation’s deductible. 
• Additional living expenses. After a covered loss, Chubb will cover the increase in your temporary living expenses while your condominium unit is being rebuilt.  Typical policies limit this coverage to a small percentage of what you’ve insured your contents for – often leaving you without enough insurance.  Under Chubb’s Masterpiece Condominium, additional living expenses coverage is unlimited.

Masterpiece Condominium offers enhanced protection beyond what most other insurers offer. We provide flexibility in the type and amount of coverage, as well as options for deductibles and discounts on your policy.