Chubb Masterpiece Insurance: Is It Right for You?

A standard homeowners policy is built for a house that looks like everyone else's. Chubb Masterpiece is built for the house you actually have.

Chubb is the world's largest publicly traded property and casualty insurer. It has more than $66 billion in gross premiums, a market cap over $125 billion, and operations in 54 countries. Its 2024 combined ratio of 85.7 percent is a company record. That strength matters when the claim is large. It is not why high-net-worth families stay.

They stay because the policy assumes your assets are complicated: travel, valuables, and a house that costs more to rebuild than it would sell for. You expect the policy to perform when it counts. Masterpiece is written that way.

Falcon West is a Chubb Cornerstone agency, and we’ve worked with Chubb's underwriting and claims teams for 25 years. We place Masterpiece when it is the right tool. We place something else when it is not.

Your homeowners policy stops at the limit

If the house is damaged or destroyed, a standard policy pays up to the limit on the declarations page. Construction costs after a disaster do not care about that number.

Chubb Masterpiece includes extended replacement cost with no cap. If it costs more to rebuild the same house to the same quality, the policy is built to keep paying.

Or they send the rebuild cost in cash

Total loss. You may not want to rebuild on that lot. Masterpiece can pay a cash settlement equal to the rebuilding cost so you are not forced to reconstruct on the same ground.

They walk the house before something breaks

Chubb risk consultants appraise the home to ensure values are accurate. HomeScan infrared detects moisture, heat loss, and electrical problems you cannot see from the driveway. The goal is to stop a major claim before it starts.

The ten-year-old Sub-Zero comes back new

Standard policies pay actual cash value on contents, deducting age and wear. Masterpiece pays full replacement value with no depreciation. A ten-year-old Sub-Zero is replaced with a new one, not a used-appliance check.

Additional living expense is written the same way. Temporary housing should look like your life, not a roadside motel.

The car is worth what you agreed

Standard auto pays actual cash value at the time of loss. That number is often wrong for a collector car or a luxury daily driver.

Chubb uses agreed value. You and Chubb set the number in advance, and that is what gets paid on a total loss.

Repairs use OEM parts, not aftermarket substitutes. That matters on a high-value or vintage car.

Auto liability can go to $10 million. Rental reimbursement can go to $15,000, so the replacement car is in the same class. Pet injury coverage is included.

The painting is still not $80,000

Fine art, jewelry, wine, antiques, and collections: a standard homeowners policy puts small sub-limits on all of them.

Chubb valuable articles coverage is built for the collection:

• Worldwide protection, wherever the piece travels.
• No deductible on covered losses.
• Value that can follow appreciation, not just what you paid.
• Access to Chubb appraisers and collection specialists.

A painting bought at auction for $80,000 that is now worth $200,000 should be insured at $200,000. Specialists ensure the appraisal and policy stay current.

If valuables are the reason you are reading this, start on our private client page.

The lawsuit that does not fit in a $500,000 umbrella

A personal umbrella sits above home and auto. Chubb writes it from $1 million to $100 million, with worldwide protection. Defense costs are included, including suits that go nowhere.

For a high-net-worth household, claims often involve car accidents. They include household staff, parties, defamation, and injured guests. Those claims use up a standard limit. The umbrella must match the life, not just the minimum the mortgage company requires.

Flood, boats, staff, and the rest

Masterpiece is the home. The rest of Private Client is the household.

Private flood coverage up to $15 million includes finished basements and personal property. The federal flood program does not offer limits like that.

Cyber liability and identity theft, including restoration and legal help.

Yacht and watercraft, with limits that fit the boat you actually own.

Employment practices liability if you employ housekeepers, nannies, estate managers, or personal assistants. Wrongful termination, discrimination, harassment.

Family security risk analysis, background checks for personal staff, and travel safety support. Standard personal lines carriers do not staff that.

You get a person, not a claim number

Coverage is a promise. The claim is the test.

Chubb Private Client claims offer 24/7 reporting, a dedicated adjuster, payment within 48 hours of approval, and contractors who restore high-value houses. You get a contact who knows your file. You do not start over with a new voice every Friday.

Don’t buy Chubb from Chubb

Chubb will sell to you direct. An independent broker is still the better option, and it does not cost you anything extra to have that advocacy.

Falcon West works with Chubb, AIG Private Client Group, PURE Insurance, Cincinnati Insurance, and other high-net-worth carriers. We compare the market and build a program. Sometimes it is all Chubb. Sometimes it is layered: Chubb on the house, PURE on the cars, and a standalone valuable articles policy. One company's brochure is not a program.

If the claim gets ugly, you have a broker who knows the account. Our brokers have spent years with Chubb's underwriting and claims teams. That is not what direct policyholders get from a call center.

We also review the program every year: a remodel, a purchase, a new driver. Coverage that is not reviewed starts lying.

If your insurance hasn't changed since 2014...

If the policy was written for a simpler house and life is no longer simpler, review it.

Falcon West has provided coverage for families and businesses across the United States since 1981. We build programs that protect what you have already built.

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