Motor insurance

Whether you own a cherished classic car or a large collection of rare, supercars, Chubb’s Masterpiece policy sets the benchmark for quality insurance cover.

Created over 20 years ago, it was the first product of its kind to cater specifically to high net worth individuals in the UK. Masterpiece is widely recognised by homeowners and car collectors as a respected market leading proposition.

With years of underwriting experience and motor expertise, we offer truly unrivalled benefits for our customers. The breadth of this policy is second to none and is complemented by an outstanding claims service and unique approach to appraisals.

Recently, we have launched covers such as Diminution In Value (DIV), that pays policyholders the difference between a car’s market value before and after a repair. This first in the car insurance market is a demonstration of how we appreciate the importance of our client’s cars, which are often loved as works of art.

We will let you specify and select your preferred garage, dealer or other specialist third party. We also insist on original manufacturer parts, like tyres for example. And if we can’t match wheels or upholstery, we’ll replace the whole set.

The aim is always to get your car back to its exquisite best.

What does it cover?

If your car is written-off or stolen:

  • With our ‘agreed value’ approach, we’ll pay you the full sum insured with no excess, not a depreciated ‘market value’.
  • If the car is under 15 years old and its replacement cost exceeds your agreed value, we will pay more than the sum insured to help you buy a like-for-like replacement.
  • If the car is over 15 years old, subject to a limit of £100,000, we will pay 25% more than the sum insured to repair  your cherished vehicle and get it back on the road.
  • All courtesy cars are immediately dispatched after fire, theft or accident. We provide up to £4,000 for you to rent a car of a similar specification to your own, in the unlikely event that  the courtesy car is unsatisfactory to you.
  • We'll replace your sound system for the full cost, with our unlimited audio/stereo cover.

As well as for driving  your own cars, you’ll be comprehensively insured for:

  • Driving any car you don’t own (applies to all named drivers).
  • Lending your car to anyone not living with you.
  • Business trips (except hiring your car for a fee).
  • Driving in Europe at any time. Insurers will often limit this to 30 days.

If you break down:

  • You’ll have Europe-wide breakdown cover for you and your family, including HomeStart.

In addition to this, you can also expect:

  • Solicitor’s fees when pursuing a claim for personal injury or uninsured losses of up to £100,000.
  • Child seat replacement after an accident, even if there's no visible sign of damage.
  • No premium increase or loss counted against you when the loss isn’t your fault, for instance due to vandalism or if your car is hit when parked.

The key benefits of Masterpiece

1) Diminution In Value cover

Diminution In Value (DIV) is a pioneering new cover that pays the policyholder the difference between their car's market value before and after a repair, as well as the repair costs. The cover applies to cars over 15 years old and will be paid out if the car has been valued or purchased at least 24 months before the loss.

2) We pay the agreed insured value

Most insurers settle total loss and theft claims based on the market value of a vehicle at the time of loss. Chubb provides "agreed value" cover, so the value of your car is locked in for the entire policy term. If you need to make a claim to replace your vehicle, you'll receive 100% of the value we agreed whether it's Day 1 or Day 365 of the policy.

3) Automatic comprehensive cover on borrowed vehicles

Insurers often only provide third party cover when you borrow another vehicle. With Chubb, you and other named drivers enjoy fully comprehensive cover on any vehicle you rent or borrow. And anyone driving your insured car is fully covered.

4) You choose the most suitable repairer

Most insurers stipulate where your vehicle should be repaired. Chubb allows you to select the most suitable garage, dealer, upholsterer or coachbuilder, or we can help you select one from our approved repairer network and we'll guarantee the use of original manufacturer's parts.

Find a Broker

Our policies are available through brokers. If you are looking to arrange cover, contact a broker to see how Chubb can help you get covered against potential risks.

Case study

An example of how Chubb pays claims

A client’s classic car collection included a 1962 Porsche 356B Twin Grille – that he bought some years ago and has lovingly restored.

On the way to a wedding
the 356 was hit by a lorry coming out of a side turning. Fortunately, no one was hurt but the damage was extensive.

> Read more


Motor brochure
Motor brochure