Chubb Insurance Company of Canada has enhanced its Canadian Masterpiece personal insurance offering, to allow its customers to personalize their insurance policies by selecting from an array of enhanced products and new optional coverages.
The insurer said that the improved offerings are part of its focus on offering increasingly customized services for customers.
Chubb Insurance Company of Canada senior vice president and personal insurance zone manager Paul Johnstone said that the coverage enhancements and options provide new and existing customers with more choice, so they can decide on the insurance as per their specific needs.
The offering has been added to new coverages to its Masterpiece Valuable Articles policy for jewellery and fine art on loan or consignment.
Besides enhancing works in progress coverage for jewellery, with limits up to $100,000 for supplies, labor and non-recoverable deposits, the company has increased blanket limits to $50,000 per item for jewellery, fine arts, stamps, coins and collectibles and $5,000 per bottle for wine.
Chubb has increased the rental or loan period to up to 60 days, for customers who use a Masterpiece Personal and Excess Liability policy to provide primary rental car coverage.
The underwriter has amplified the coverage for unit assessments to $25,000 in all provinces, with the option to buy limits up to $100,000, to deal with growing condominium and homeowner association deductibles.
Further, the insurer also provides equipment breakdown coverage to assist customers cover the costs when air conditioning systems, refrigerators, hot water heaters, entertainment systems and other household equipments for repairing.
In case of a temporarily relocation to another residence due to an equipment collapse, the company also provides living and equipment rental expenses, and food and wine spoilage coverage.