| 【Home Insurance】Just Right! | |
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【Home Insurance】Just Right! It provides great protection for both large and small valuables at home! Click video for more details! |
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| It provides great protection for both large and small valuables at home! Click video for more details! | |
Home Insurance Plan Highlights
- Coverage for household contents up to HK$1,200,000
- Your choice of different levels of sum insured according to your needs and budget
- Extended benefits including Removal of Debris, Interior Alterations or Repair, Money or Unauthorised Use of Credit Cards, Personal Documents, etc.
- Cash allowance payable to cover household contents stored in professional storage facilities against damages
- Enjoy worldwide protection on Personal Effects and Personal Liability benefits even when you are away from home
- Coverage for Public Liability up to HK$10,000,000
- 24-hour Home Assistance Service provides free referral services including electrical assistance, baby sitting/nursing, temporary domestic helper, etc.
- Optional All-risk Coverage for Building and Additional Valuables benefits cater your specific needs
- Coverage for building age up to 45 years
Notes:
| 1. | The above information is for reference only. Please refer to policy for the exact terms and conditions and the full list of policy exclusions. | |
| 2. | Should there be any discrepancy between the English and the Chinese versions of the above information, the English version shall apply and prevail. | |
| 3. | The above product(s) is/are offered for sale in Hong Kong only and is/are underwritten by Blue Cross (Asia-Pacific) Insurance Limited, an authorised insurer in Hong Kong. |
Home Insurance FAQs
What is home insurance? What does home insurance cover?
Home insurance mainly provides protection in two key areas: “Household Contents” and “Third Party Liability”. Household contents coverage includes loss of or damage to indoor property such as furniture, appliances, clothing, and valuables caused by incidents like fire, typhoon, burglary, or flooding. Third party liability coverage protects the insured and their household members against legal liability and litigation costs if they negligently cause bodily injury or property damage to the third party.
What is third party liability coverage in home insurance?
It covers the legal liability of the insured and their household members for the third party’s bodily injury or property damage due to negligence. Examples include water leakage from your home damaging the renovation of the unit on lower floor, or a window falling from your home and injuring a passerby.
Is home insurance useful?
Home insurance is very useful. It provides financial protection in the event of an accident, helping to reduce the financial burden caused by property damage or third-party claims.
Is home insurance mandatory?
There is no legal requirement to purchase home insurance. Banks generally only require mortgage property owners to purchase fire insurance. Although purchasing home insurance is voluntary, it is still recommended to have both fire insurance and home insurance to protect the building structure as well as household contents.
Do tenants need to buy home insurance?
It is recommended that tenants purchase home insurance. The fire insurance and / or home insurance purchased by the landlord only covers the building structure and / or household contents owned by landlord and does not cover the tenant’s property inside the unit. If an accident occurs that damages household items owned by the tenant, the tenant have to bear the loss themselves. In addition, the tenant will be legally liable if the tenant’s negligence results in damage to the neighbouring properties. In such cases, the third party liability coverage in home insurance can play an important role in protecting the tenant.
How long does it take for home insurance to become effective?
Generally, home insurance takes effect immediately or the next day after the policy is issued, subject to underwriting. The exact effective date is subject to the terms and conditions of the policy.
What is the difference between home insurance and fire insurance?
Fire insurance mainly covers the building structure (such as walls, floors, ceilings, doors). Home insurance, on the other hand, covers the contents inside the unit (such as furniture, appliances, and personal belongings) and also includes third party liability coverage.
Does home insurance include fire insurance?
Home insurance does not include fire insurance that covers the building structure; the two need to be purchased separately or added as an optional benefit.
How to claim home insurance?
You should take all reasonable steps to minimize the loss, damage or injury. In general, you must notify the insurance company and relevant authorities (e.g. building management office, police) as soon as possible after the incident and provide supporting documents such as police report (for theft, attempted theft, burglary, robbery, malicious damage, riot or strike cases), incident report issued by the building management office (for fire, water leakage/seepage, power shortage incidents), photos of the accident scene and damage to the properties, and receipts. The exact procedure will subject to the terms and conditions of the policy.
Is water leakage covered by home insurance?
Water damage to household properties due to accidents is usually covered. However, if the source of water occurs due to inadequate maintenance, wear and tear and so on (such as leaking pipes due to aging, or rainwater seeping into the house through windows due to disrepair), the repair costs for the cause are not covered by the policy. Moreover, it is important to check if the policy specifies items not covered by home insurance; such items are not covered for loss or damage caused by any reason.
How is the premium of home insurance determined? How much is home insurance in Hong Kong?
Premiums are mainly determined by the gross / saleable floor area and/or the age of the property—the larger the area or the older the building, the higher the premium is likely to be. In addition, factors such as the maximum coverage amount selected by the applicant, the level of deductible, and whether any optional coverage is included will directly affect the final premium. For a typical 500 sq. ft. unit, the annual premium usually ranges from a few hundred to over a thousand dollars.