General Property Package Insurance | Chubb
General Property Package Insurance
For some businesses mobile assets are critical for the successful running of their business.
Accordingly, it makes good business sense to have a comprehensive insurance product in place that has been specifically designed to cover these assets. Chubb’s General Property Package policy is specifically designed for larger schedules of mobile asset (greater than $1 million in total value). Policy overview and appetite are listed below.
What it covers
Chubb’s General Property Package policy includes four core covers:
Section 1 - Material Damage – Static Covers mobile assets whilst static – ability to offer worldwide cover*.
Section 2 - Material Damage – Transit Covers mobile assets whilst in transit – ability to offer worldwide cover*.
Section 3 - Hired in Equipment Covers Hired in Equipment which the insured is legally liable to insure.
Section 4 - Increased Costs of Working Covers additional expenditure necessarily and reasonably incurred following insured damage under Section 1 or 2
* Subject to sanctions.
Market specialisation
Chubb targets schedules greater than $1 million in value for a wide variety of mobile assets, including:
- Mobile electronic
- Mobile medical
- Survey equipment
- Tools of trade
- Light machinery (not self-propelled)
- Theatrical
- Exhibitions
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