Insurance Guide

he weather has finally started to cool down, almost every building and mall has their decorations up, not to mention the fact that almost every store is blasting not only Christmas music, but also the AC! That's right, it's the holiday season in Hong Kong and many of us have started to visit the stores buying gifts for loved ones and friends. Regardless of what you purchase, there is a good chance that at some point you will be storing your purchases in your vehicle. This can be tempting for thieves, and should something be stolen from a parked vehicle you may find yourself wondering whether it is covered by your car insurance policy and how you can prevent it from happening again.

Hong Kong is a unique city with steep verdant hills running right into the ocean that, while pretty, do limit the urban sprawl common to so many other cities with similar population. Therefore, in order to house 7.7 million people, buildings go up rather than out. This means that many of us are living in high rise apartments that can be among the smallest in the world. These cramped conditions do present a number of risks, chief among them fire. Here we take a look at the different types of home-related insurance available in the city, and an interesting situation revolving around coverage and claim settlement.

As you likely already know, Formula E racing is rolling into town the first weekend of October. With events going all weekend leading up to the big race on Sunday, October 9th, it is looking like it will be a fun weekend for car enthusiasts in Hong Kong. Unlike it's bigger cousin the Formula One with cars powered by massive V6 engines that make one heck of a noise, the Formula E race involves only electric cars, which are oh so much quieter. One of the most interesting things about this race series, however, is that it truly showcases not only the amazing technology behind these vehicles but what electric cars can do. It's highly likely that the inaugural Hong Kong race will bring an increased interest in electric vehicles to the city. To that end, here are four electric car brands we commonly see on the road in Hong Kong, and some important things to consider regarding car insurance should you want to purchase one.

What does depreciation on my vehicle mean? Depreciation is the decline in a car's value over the course of its useful life. Certain parts on your vehicle have a "life expectancy" so the value of the part being repaired is currently less than the new replacement part. Insurance companies in Hong Kong normally take this into consideration. Once the insurance company repairs the vehicle, they state that they are reinstating it to a better condition than before the accident; this approach is accepted practice in the Hong Kong legal system. To account for this improved condition, there needs to be a depreciation adjustment. For example, Motor Vehicle Insurance companies in Hong Kong will include policy terms stating that they are not liable for the following clauses in the event of Vehicle Own-Damage: depreciation (betterment), wear and tear, mechanical or electrical breakdown, failure or breakage; damage to tyres unless damage is caused to other parts of the vehicle at the same time; and any excess applicable in the accident. The amount of depreciation and/or betterment will be assessed by the insurance company’s appointed surveyor on any part of the vehicle for the costs of repairing or replacement.

In a recent article, Kwiksure discussed adding extra drivers to your insurance policy and what you need to be aware of in regards to doing this. While this works well for people who will be driving your car on a regular or semi-regular basis, it isn't overly efficient for people who want to lend their car on a short-term or occasional basis. For example, if a friend is moving and you own a minivan, and they ask you to borrow it for the day, it doesn't make a lot of sense to sign them up as a driver under your policy, pay the premium and then remove them a few days later. In this article, we will take a look at how car insurance works when you lend a car and provide some useful advice you should be aware of before lending your car.

Generally speaking, Third Party Liability Insurance (also known as Third Party Insurance or TP Insurance) is a relatively basic car insurance that provides coverage for the bodily injury and property damage of third parties. The policyholder still needs to cover their own medical and vehicle repair expenses. A more comprehensive motor insurance policy, in addition to protecting third parties, also offers full protection for the policyholder and their vehicle.

In Hong Kong, as in pretty much every other country, it is mandatory for car owners to secure car insurance before they can legally drive the vehicle. The thing with motor insurance, however, is that, because there are numerous providers, plans, rules, etc, it can all get a little confusing what is and isn't covered. It is mostly because of this that you start to see myths appear when talking with other people. In this article, Kwiksure takes a look at the top 8 motor insurance myths in Hong Kong that all drivers should be aware of.

In Hong Kong, as in pretty much every other country, it is mandatory for car owners to secure car insurance before they can legally drive the vehicle. The thing with motor insurance, however, is that, because there are numerous providers, plans, rules, etc, it can all get a little confusing what is and isn't covered. It is mostly because of this that you start to see myths appear when talking with other people. In this article, Kwiksure takes a look at the top 8 motor insurance myths in Hong Kong that all drivers should be aware of.

One of the most common questions we receive at Kwiksure is whether a driver can add another person onto their car insurance policy for a short amount of time. In this article, we set out to answer this question and provide useful information that you will need to know before adding people to your plan.

The tragic fire in Ngau Tau Kok is finally out and many people have been heaping well-earned praise on the firefighters who battled the blaze for over 100 hours. In the aftermath of this fire however, a number of important questions need to be asked, especially when it comes to storing things in the increasing number of storage units that are cropping up in the city and whether this stuff will be covered by insurance.

The tragic fire in Ngau Tau Kok is finally out and many people have been heaping well-earned praise on the firefighters who battled the blaze for over 100 hours. In the aftermath of this fire however, a number of important questions need to be asked, especially when it comes to storing things in the increasing number of storage units that are cropping up in the city and whether this stuff will be covered by insurance.

One of the most common questions we receive at Kwiksure is whether a driver can add another person onto their car insurance policy for a short amount of time. In this article, we set out to answer this question and provide useful information that you will need to know before adding people to your plan.