General Insurance

General insurance is called non-life insurance in Europe, and property and casualty insurance in the U.S.A. Both descriptions capture the full characteristics of general insurance. It is not related to life and relates to risks associated with commercial and personal activities. As a result, general insurance is broken down into personal and business lines.

General Insurance

General insurance is called non-life insurance in Europe, and property and casualty insurance in the U.S.A. Both descriptions capture the full characteristics of general insurance. It is not related to life and relates to risks associated with commercial and personal activities. As a result, general insurance is broken down into personal and business lines.

Private motor vehicle

Vehicles are required to have at least the coverage of the Third-party Risk Insurance, before the issuance of the necessary Vehicle Registration Document by the Transport Department. Third-party means a non-driver/non-passenger or another vehicle(s), involved in a vehicle accident. The damage could be on the third person and/or the other vehicle(s). Very often, the vehicle-owner is required to pay the first few thousand dollars of the costs of the damage. This is called “excess” The greater amount \the excess, the lower amount will be the premiums. Vehicle owner can consult with their insurance advisor for the suitable balance of excess vs premium. Then when vehicle owners incur no claims during the year, he/she can earn No Claim Bonus or No Claim Discount from the insurer, 10% per year, up to 60%. NCB or NCD reduces the premiums of the insurance. For greater protection, vehicle owners can also get Comprehensive Insurance, with greater premiums. It covers, for example, the damage of the windshield of the vehicles. For private cars, some insurance companies provide coverage of $4,000 to $5,000, on the replacement costs of the windshield, without affecting the NCB/NCD. Vehicle owners should consult their insurance advisors for the details.

Personal accident

Accidents can happen, causing bodily injury/disablement, or death to the insured. For a few hundred dollars annually, the insured will get compensation in multiplies of the premiums

Personal travel

Personal Travel Insurance can provide coverage per number of days of the trip or even for the full year. The coverage can start from leaving the home of the insured or after passing the Immigration at the airport. Clients should consult with their insurance advisor for the appropriate scheme. Furthermore, different countries have different network for timely emergency support. Upon urgency, this type of timeliness is critical. So, before purchasing a travel insurance, clients have to ask for the details. Finally, as trips can be delayed upon returning home, smart clients usually add one more day to the have the unexpected coverage, just in case.

Student travel

Students studying overseas will have special needs for insurance coverage, especially at the beginning of their trips. Student Travel Insurance will meet their needs. Parents should check with their insurance advisors for the details and variations.

Home Insurance

Home Insurance provides coverage of the replacement costs of the content in the apartment/house of the insured, that are damaged by fire or water leakage, etc. The insured can be the landlords or the tenants. In addition, third-party liabilities are also covered. For example, if the water leakage of the apartment cause the damage of the public lift, Home Insurance covers the liabilities. The premiums could be related to the size of the apartment/house. Clients should check against various plans before commitment.

Golf Insurance

Golf Insurance is designed to allow golfers to have enjoyable experiences in the course of their golfing trip. For example, it facilitates the client celebration of Hole-In-One events.

Domestic Helper

Domestic helpers in Hong Kong are legally required to purchase employee compensation during the period of their terms of employment. However, as the hosts are also responsible for the medical expenses of the helpers during the period, the former normally additional purchase medical coverage for the helpers. Thus various insurance companies will provide various in-patient and out-patient coverage. For convenience, some even provide medical cards to the helpers to reduce administration of the hosts.

Private boat

Similar to vehicles, pleasure boats are also required to purchase at least third-party liabilities coverage. Boat owners can also choose to add comprehensive coverage.

Pet Insurance

Cat and dog owners treat their pets as children of their families. Pet insurance provides in-patient and/or out-patient coverage to take care of their beloved pets.

Jewellery

For pleasure and social events some people may intermittently keep some valuable jewels/watches at their homes. These items need insurance coverage, just in case.