- Individuals & Families
- Businesses
- Brokers
From your home and valuables, to prized collections and jewellery, you have a lot to insure. When you insure your home and contents with Chubb, you will receive a high level of service from an insurer who is specialised in working with successful individuals with high value assets.
For professionals in their first luxury apartment, villa or townhouse through to retirees downsizing from a family house, Masterpiece is also ideal for owners and tenants living in luxury apartments, villas and townhouses.
From high-value homes and fine art collections to luxury vehicles and more, we are here to help ensure that what you treasure most is treated with expertise.
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Masterpiece® Home Appraisal Service
Benefits of a Masterpiece Home Appraisal visit
During a home appraisal inspection, you will experience our team’s expertise in risk mitigation and receive a comprehensive risk assessment. We provide accurate sums insured, which helps to:
a) offer the most appropriate financial settlement should you need to make a claim; and
b) settle your claims quickly and fairly.
As a result of the home appraisal service, we can provide “Extended Replacement Cost” cover for your home. This means that we would pay the full amount to rebuild your home, whatever the cost,so you can restore your home’s features with like-for-like quality and materials.
How does a Masterpiece Home Appraisal work?
When you purchase a Chubb Masterpiece policy, you may be eligible for a personal home appraisal free of charge. The nature of the appraisal, whether it is an external assessment or a full home appraisal, will depend on the sum insured and location of the property.
Each Risk Consultant has the expertise required to assess the architectural features unique to your home both inside and out. They estimate the replacement value of all features and take into account rarity of materials, unique design features and the need for skilled craftsmanship.
The in-depth process typically takes around an hour, but may extend to a few hours for larger properties. Afterwards, you will receive an appraisal report that may include photographs of key features.
What to expect during a Masterpiece Home Appraisal visit
Note the type and quality of materials used in your home’s construction and interiors
Record any architectural features unique to your home
Gather measurements and photographs to accurately estimate the cost to rebuild
Review the home’s fire detection and other safety and security features
Evaluate external structures and landscaping (for consideration in accordance with your Chubb policy)
Undertake a high-level check of the home’s plumbing to identify things such as flexible hoses, which could pose an increased risk of internal water damage
What type of advice will you recieve?
Home safes
- Use a cash-rated safe that meets the required standards.
- The safe should have a minimum cash rating equal to 10% of your jewellery's
External water damage
- Regularly clean roof gutters and surface drains.
- Trim tree branches that hang over the roof and have the roof professionally
Internal water damage
- Know where your water meter is located.
- Turn off the water when you're away and regularly inspect and replace flexi-hoses.
Fire protection
- Ensure smoke alarms are correctly installed and positioned.
- Connect smoke alarms to a monitored security alarm and keep a domestic fire extinguisher and fire blanket accessible.
Fine art
- Store or display artwork away from sunlight, heat, water, or impact.
- Take precautions to protect artwork from potential damage
Frequently Asked Questions
No. This is an insurance replacement cost valuation only. A replacement cost valuation is based on the cost to rebuild your home with similar quality materials and craftsmanship to that which existed before the loss. It takes no account of land value (it is not an appraisal to obtain the market value). Market value, on the other hand, is essentially the sale price of a property. This includes the value of the land, the house and any other site improvements. Factors that can influence market value include location, views, proximity to schools, shops and transportation, and the condition and style of a house.
Preferably someone living at the home should be present to assist with answering some personalised questions, however this can be done via a follow up phone call post the visit if you are unable to attend on the day.
In order for Extended Replacement Cost to be provided it is a requirement of the policy to accept any Building Sum Insured adjustment following the appraisal and a pro rata extra and/or return premium may be generated depending on the amount of sum insured change.
After the inspection, a comprehensive report will be sent to you via your insurance broker or intermediary. The report will provide a detailed summary of your home including the estimated replacement cost and any loss prevention advice.
The entire process is handled by Chubb and your insurance broker or intermediary to ensure that your information is handled in a discreet manner.
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