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Masterpiece®

Contents Insurance

Contents insurance for luxury apartments, units and townhouses 
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Coverage for your most cherished belongings

Many unit owners and tenants mistakenly believe that the insurance held by their body corporate provides complete coverage for their entire apartment, both inside and out.

However, a typical strata insurance policy only covers the building's structure and does not extend to contents, additions, or alterations made to the apartment.

For those who have high value contents and collections in their apartment, it is important to get the right coverage to ensure they are adequately covered in the event something goes wrong.

Who is contents cover designed for?
Who is contents cover designed for?

Insurance for luxury units

As one of Australia’s leading providers of luxury home insurance, Chubb’s Masterpiece Homeowners Insurance is tailored for successful individuals and families with significant assets to protect. Our clients value exceptional service and comprehensive coverage.

Beyond owner-occupiers of luxury homes, Masterpiece is also ideal for owners and tenants living in premium apartments, penthouses, or luxury townhouses. It’s especially suited for those with valuable possessions, such as fine art, wine collections, and jewellery, who require a higher level of coverage.

Let us raise your expectations

At Chubb, we believe insurance should go beyond the basics. That’s why Masterpiece offers exceptional coverage designed to insure what matters most to you. Here are the key benefits you’ll enjoy when choosing Masterpiece to cover your contents.

Comprehensive coverage

Masterpiece provides physical loss or damage coverage for your contents, insuring against a wide range of potential losses or damages (excluding specific exclusions).

Full replacement costs

We cover your contents for their full replacement value—without deductions for depreciation. This may include items such as: carpets, curtains, linen, clothing, sporting equipment.

Cash settlement option

In the event of a claim, you may have the flexibility to choose between replacing your damaged items or receiving a cash settlement.

Worldwide coverage

Travel with confidence. Your contents and valuable items are automatically covered wherever you go, ensuring peace of mind no matter where life takes you.

Valuable Articles Coverage

For your most treasured possessions, we go a step further. If your valuable articles are damaged and lose market value as a result, we’ll not only cover the cost of repairs but may also compensate you for the loss in value—up to the sum insured.

Deductible choices

If you want to reduce the amount of premium you pay, you can choose to have a higher deductible. The higher the deductible you choose the lower your insurance premium will be.


Please note: Valuable Articles Coverage is available with the payment of an additional premium. 

what's covered?
what's covered?

Comprehensive coverage for strata living

Living in a strata arrangement comes with unique insurance needs. While your body corporate insurance typically covers the building’s structure, it often leaves gaps when it comes to covering your personal investments and shared responsibilities.

For those with large amounts of valuable contents to insure, Masterpiece can help ensure you’re appropriately covered. 

With our tailored coverage, you can rest assure and know that your additions, alterations, and even certain common area expenses are insured.

Here's how we help fill the gaps:

 


 

Additions and alterations

We automatically cover up to 25% of your contents coverage limit for any additions, alterations, fixtures, improvements or installations that you have made to your unit, apartment or townhouse.


This may include: 

  • Floor and wall coverings
  • Cabinets
  • Bookcases
  • Custom window treatments
  • Kitchen appliances
  • Fireplaces

If you feel the automatic limit that comes with the policy isn’t enough to fully cover your investments, you have the option to increase your coverage for added peace of mind.

Common area coverage

If you’re charged extraordinary payments or special levies for loss or damage to common property or shared areas in your building, we’ll cover you up to $50,000—beyond what your body corporate or strata insurance provides.


 

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Chubb Claims Difference

We hope you never need to report a claim, but if you do, that’s our opportunity to show you what “craftsmanship” means in our service to you. 

It means Chubb people working with empathy, integrity and our legendary attention to detail. It means we honour the promises we’ve made to you. Your loved ones, your employees, your home, your business reputation—these things matter to you and to us.

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Tips & Resources

At Chubb, we believe that being informed is an essential part of making the best decisions when it comes to your personal insurance needs. That's why we've compiled a range of insights and resources to help you stay up-to-date on the latest trends, tips, and news related to fine arts coverage. Read more below on making informed decisions about your insurance needs. 

 

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Ready to upgrade to Masterpiece?

 

To get a quote, please contact your insurance broker. If you do not have an insurance broker, you can contact us on 1800 958 233, or complete this short form and one of our Australian Customer Service Representatives will contact you. 
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