Specialized Condominium Protection

High-valued condominiums require specialized attention. Chubb’s Masterpiece Condominium Policy is perhaps the most comprehensive package available for condo owners. It is uniquely designed to protect the owners of high-valued condos.

This means offering protection for the additions and alterations you have made to your unit that are not covered by the building’s master policy. The marble floors, custom wall coverings and expensive built-in cabinetry that make your condo special require special attention. Chubb allows you to insure these features on a “replacement value” basis to ensure they can be replaced or repaired should your unit suffer a loss.

Because a lot of people aren’t certain how much insurance they need to protect their additions and alterations, we offer a condominium appraisal service for customers who have invested substantial time, energy and dollars in customizing their unit.

Chubb’s Masterpiece Condominium Policy also offers:

• “All risk” contents coverage on a replacement cost basis with no penalty or depreciation if you don’t replace but instead choose to take the cash equivalent.
• Additions and Alterations coverage that insures all the betterments you have made to your unit. We offer a replacement cost extension option of up to 50% over your listed coverage. This means we will pay even more than the coverage you have purchased, if that’s what it takes to repair the damage.
• Unlimited additional living expense coverage to pay any added expense should a covered loss force you out of your home temporarily.
• Fair rental value coverage that pays the rent on an investment property that is damaged by a covered loss.
• Full contents coverage while your contents are away from your home temporarily – such as when you are traveling. 
• We provide $200,000 of Loss Assessment coverage to pay for any covered losses that are assessed to your unit by your condo association and allow you to purchase more if needed.
• Personal Liability coverage with limits up to $10 million.