Chubb’s General Property Package policy includes four core covers:
Section 1 - Material Damage – Static
Covers mobile assets whilst static – ability to offer worldwide cover*.
Section 2 - Material Damage – Transit
Covers mobile assets whilst in transit – ability to offer worldwide cover*.
Section 3 - Hired in Equipment
Covers Hired in Equipment which the insured is legally liable to insure.
Section 4 - Increased Costs of Working
Covers additional expenditure necessarily and reasonably incurred following insured damage under Section 1 or 2
Chubb targets schedules greater than $1m in value for a wide variety of mobile assets, including:
- Mobile electronic
- Mobile medical
- Survey equipment
- Tools of trade
- Light machinery (not self-propelled)