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Masterpiece®

Luxury Contents Insurance

Contents coverage for luxury apartments, villas and townhouses
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Coverage for your most cherished belongings

Many owners and tenants of luxury apartments, villas and townhouses mistakenly believe that the insurance held by their body corporate provides complete coverage for their residence. However, a typical strata insurance policy only covers the building’s structure and does not extend to contents or additions and alterations made to the residence.

For those who have high value contents and collections in their residence such as wine, fine art and jewellery, it is important to have the right coverage in the event something goes wrong.

Who is it for?
Who is it for?

Insurance for luxury residences

Chubb’s Masterpiece Homeowners Insurance is designed for individuals and families with significant assets to insure. 

Beyond owner-occupiers of luxury houses, Masterpiece is also ideal for owners and tenants living in luxury apartments, villas and townhouses. It’s especially suited for those with high value possessions.

For professionals in their first luxury apartment, villa or townhouse through to retirees downsizing from a family house, Masterpiece could be the ideal insurance solution.

what's covered?
what's covered?

Exceptional coverage for strata living

Living in a strata arrangement comes with unique insurance needs. While your strata 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, 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 apartment, villa or townhouse, which are often not covered under a strata insurance policy. 


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.

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 the relevant strata insurance provides.

With Chubb’s Masterpiece Policy, you’ll experience a higher standard of insurance, tailored to your unique needs. Let us help you safeguard your lifestyle with the care and attention it deserves.


 

Key Benefits

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.

Exceptional 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 for contents

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. If you ever need to take your contents and valuable articles with you when travelling, they are automatically covered wherever you go.

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.


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

Tips & Resources

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 insuring contents and valuables.  

 

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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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