In Hong Kong, as in almost every other city, there are many key things car owners need to know before they hit the road. Firstly, they need to have a license in order to legally operate the vehicle, and secondly, they need to secure motor insurance. The issue with the latter is that, while it is legally required, there are different types of car insurance plans available, and numerous providers in the city offering these plans. In truth, it can be a bit of a chore finding the best insurance for you.
In an effort to help make the whole motor insurance process easier for people in Hong Kong, Ken Chung, Kwiksure's Motor General Manager, joined one of the city's most popular radio shows for an interview that covered a wide variety of topics around motor insurance in Hong Kong, as well as what car owners need to know.
Chung joined Alan Yuen from Metro Life Digital's popular Life-Management show earlier this year to share his experience, both as Kwiksure's Motor General Manager and as a motorist himself, with motor insurance in Hong Kong.
Over five different segments, Chung talked about the major differences between the two types of car insurance in Hong Kong (third party and comprehensive), what drivers in Hong Kong need to know about insurance, and how they can avoid shady insurers; all leading to how you can identify and secure the most ideal insurance.
But this interview wasn't just for the drivers in Hong Kong. There are so many people in the city who don't drive, and it can be easy to think that if you don't drive motor insurance will have no direct impact on you. The thing is, pedestrians share the road with drivers, and should a pedestrian be in an accident involving a vehicle, they will be able to seek recompense against the driver's insurance. Chung talked about the conditions where this is possible - you can usually submit a claim to the driver's insurance company as long as you were not at fault - and explained that it is pertinent that all citizens in Hong Kong be aware of motor insurance, and how it works, regardless of whether they drive or not.
Metro Life Digital was kind enough to send us recordings of the segments from the show, and we have posted them on our website. The interview, which was conducted in Cantonese, covered:
Segment 1: Introduces the different types of Motor Insurance coverage including: Third Party, and Comprehensive insurance. It also covers No Claim Discount (NCD).
Segment 2: What factors affect your insurance premiums and what you need to pay attention to when buying motor insurance.
Segment 3: Defines the term 'excess' as used by motor insurers and how NCD works in Hong Kong.
Segment 4: What the 'Named Driver Only' clause is, and motor insurance coverage during a typhoon signal number 8 or other natural disasters. This segment also covers what you need to know when lending your car to friend.
Segment 5: What to do when you are in a traffic accident, and the claim procedure that needs to take place afterwards. Also, the advantages of securing Insurance through a broker like Pacific Prime.
If you would like to learn more about car insurance in Hong Kong, please contact us today. Our experts can help ensure that you find the best plan on the market.
Kwiksure has over 20 years of experience in the car insurance industry, comparing quotes from over 60 insurers in Hong Kong. Use our online quotation tool now to get a free car insurance quote!
The above information is for reference only. Kwiksure takes no responsibility for the accuracy and timeliness of the information. For the coverage, mode of compensation, benefit limit and premium levels of any specific insurance plan, please refer to the relevant policy terms.
Kwiksure is a licensed motor insurance brokerage company with over 20 years of experience in insurance. The company strives to simplify insurance and select the best insurance plans for customers that fit their budget and coverage needs.
Kwiksure provides a range of insurance products, including car insurance, motorcycle insurance, cross-border insurance between Hong Kong and Mainland China, home insurance, travel insurance, domestic helper insurance, and voluntary medical insurance. The team has been named "Best Car Insurance Broker" and "Outstanding Leadership Award" by various media outlets over the years.
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