Kwiksure Team

Parking your car outside of your garage or driveway, (assuming you even have one in our tiny Hong Kong), can expose your vehicle to many types of damages. Whether your car insurance will cover damage to a parked car or not, depends on many factors, such as your motor insurance coverage, whether you parked in a legal spot, and if you can identify the perpetrator of the damage. A team of motor insurance experts form Kwiksure Hong Kong will explain in this post when car insurance in Hong Kong will cover damage costs in a parking collision.

When purchasing a motor insurance plan, you can name other drivers on the policy that will use the insured car. These so-called “named drivers” are people whom you can lend your car to, and have the same level of cover as you - the policyholder. This protects you from the high costs of unnamed driver excess/deductibles . However, if you add your 20 year old daughter or son to your policy, who just recently got their driving license, you will see your premiums increase. Also, adding high-risk named drivers - such as young/inexperienced drivers or those with an accident record - can be quite costly. As such, sometimes excluding drivers from your car insurance plan can be the answer if you’re looking for premium savings.

Thanks to technology advancements like blockchain , the internet of things (IoT), and big data, insurtech is now reshaping the landscape of the insurance industry. One typical example is ‘pay as you drive’ (PAYD) insurance. This kind of insurance adjusts premiums based on a driver’s real time driving behavior, rather than charging a flat premium annually. This approach has gained momentum across Europe and North America, and in August 2018 it was reported that such insurance policies will soon make their debut in China. It is forecasted that PAYD insurance will account for 20-25% of the market share by 2020. With this in mind, it is crucial that you learn more about this new form of motor insurance ahead of time. In today’s Kwiksure article, we are going to highlight the definition of PAYD, the way it works, and how it can benefit both drivers and insurers.

Have you ever wondered if traffic tickets in Hong Kong affect insurance premiums? There is no clear answer to this question, mainly because insurance companies do not disclose information on how they calculate premiums, and that’s why rates are significantly different from insurer to insurer, and even from case to case. That’s why it’s worth looking into the types of traffic tickets in Hong Kong that may have an impact on your premiums.

Blockchain technology is transforming the finance, trading, and supply chain industries, and now it finds its usage in insurance. Using blockchain in the insurance industry may have multiple benefits for both insurers and policyholders. This April, the Hong Kong Federation of Insurers (HKFI) announced that they are developing a blockchain powered e-platform for the city's motor insurance. The blockchain powered e-platform would have the ability to record and track motor insurance-related data, enhancing business efficiency in the sector. But what do these changes mean for car owners, really?

The Hong Kong-Zhuhai-Macau Bridge (HZMB) is going to open to the public soon-ish! This new, 55 km long megastructure is now the longest water-bridge ever built. It will shorten the travel time from 4 hours to just 45 minutes between Hong Kong and Zhuhai. All driving that occurs on the bridge will be in accordance with Chinese rules - on the right side of the road - not left as is the case in Hong Kong and Macau, and all tolls will be collected in renminbi. As great as it sounds, it’s actually not that easy to cross the HZMB because special permits and cross-boundary motor insurance must be obtained by all drivers entering the bridge.

The thing with any insurance policy is that it’s often not what’s covered that can be an issue, it’s not knowing what’s excluded that can be. Car insurance cover in Hong Kong is mandatory and governed to have minimum requirements by local laws. However, those basic coverage standards only legislate for coverage to third parties. When it comes to anything and everything else, you’ll need to be aware of what is and isn’t included in your own particular car insurance policy.

Hong Kong can certainly be a city where people’s lives vary an extreme amount. Say what you will about the inequality present in the city, but the point is that living in this city can be highly affordable for some, and ridiculously expensive for others. As such, there are certain status symbols that people here use to show off which end of this spectrum they are closer to, and one of the biggest status symbols a person can have in Hong Kong is no doubt the vehicle they drive. If you’re driving at all in this city, you are already pretty affluent. Of course, if you drive a particularly nice vehicle here, people are going to make other assumptions about how you are living. On the other hand, there is one status symbol in Hong Kong that goes highly underappreciated, even though its exorbitant costs often make headlines both in Hong Kong and abroad: A parking space. That’s right! The little parcel of garage where your car resides when not in use is a major consideration for vehicle owners in Hong Kong. Can your parking space have an effect on your insurance, though? Kwiksure examines the topic within this blog post. Read on to find out more!

Hong Kong is not a big city. You can get around the whole place in less than one day, especially if you’re using the world-class public transport system. For many expats, however, driving is high on their list of things to do when living here. Maybe you’re choosing to live out in the New Territories and need your own reliable transport, or maybe you’re just keen to keep behind a wheel. Kwiksure has all the information you’ll need regarding car insurance for foreigners and other important things to know about driving in Hong Kong.

Cars are sensitive machines that rely on many interconnected parts to function properly. Damage or complete destruction to any of these parts can be detrimental to your vehicle, as well as send repair bills into the stratosphere. No matter how “bullet proof” you think your car is, or how conscientious of a driver you are, there are a number of culprits that can send even the mightiest of vehicles into an early grave. Here, we look at the 7 most common causes of car damage in Hong Kong, and some of the things you can do to avoid them.

Shopping for motor insurance can be a tedious, borderline annoying process. Between finding a trustworthy insurance provider, identifying the best possible plan they sell, filling out paperwork, and handling payment, by the time you get insured, you’re happy to be done with it all. Honestly, we’d likely all prefer to just get our insurance and be done with it. Sure, we know there will be more tedium down the road should we need to make use of our insurance, but outside of that, we’d like to push the thought of car insurance right out of our minds. Time, on the other hand, has other plans. This is because, while it may seem that our car insurance policies go on and on, in reality they are renewed on a yearly basis. It’s even possible that it’s being renewed without you realizing it. So, what should you know about your car insurance renewal? Here, Kwiksure provides 5 tips to remember when renewing your car insurance in Hong Kong.

Hong Kong is a city where space is at a premium. As such, it has one of the best public transportation systems that the world has ever seen. A concerted effort has been undertaken as the population of the city has ballooned over the years to reduce the number of cars on the road and get as many people into the city’s trains and busses as possible. This is for a number of reasons, but perhaps the biggest and most pragmatic one of all is simply that space needs to be saved as much as possible in such a densely populated urban area. By keeping the overall number of vehicles in Hong Kong low, and keeping the roadways as clear as possible, we keep traffic moving and reduce the amount of pollution the city sees. Of course, not everyone is able to only utilize public transportation for all of their needs. In particular, businesses need to have vehicles on Hong Kong’s roads delivering their wares and bringing shipments to their locations. The economy of Hong Kong depends on businesses having their vehicles able to move about the city freely. As such, the economy of Hong Kong also relies on commercial vehicles in the city being legally insured, per local motor insurance laws. Here, Kwiksure looks at what it actually takes to obtain insurance with some commercial auto insurance tips.