In Hong Kong, any vehicle owner using the roads and highways must have a valid driving license and proof of third party liability motor insurance cover with minimum limits of HK$100 million for injuries or death and HK$2 million for property damage.
There are other levels of insurance a motor car owner should consider to make certain they have a comprehensive insurance policy to protect them from liability and protect their vehicle. Fortunately, most Hong Kong insurers provide a package of insurance covers that can be selected depending on each individual’s situation.
Bodily Injury Liability
If you become legally liable for injuries or death to a third party in the event of a motor car accident, the Third Party Motor insurance policy will cover you up to the policy limit. The minimum coverage required in Hong Kong is HK$100 million, which is a statutory amount.
Property Damage Liability
Property Damage Liability is also a legally required insurance coverage for all drivers in Hong Kong. The cover will pay for repairs or replacement of any vehicle or other property that you are legally found liable for after an accident. The minimum limit of cover in Hong Kong is HK$2 million.
Comprehensive Insurance Cover: This cover pays if your car is damaged in an accident, damaged by an uninsured driver, damaged for reasons other than an accident, or and for theft if your vehicle is stolen.
Windscreen and Glass Insurance : Pays for damages to the windscreen and side and back windows of the vehicle up to the limits you select.
No Claim Bonus Protection: Keeps your NCB intact in the event of a claim, up to a specified limit.
Roadside Assistance: This cover will reimburse the named insured for expenses resulting from roadside assistance such as a flat tire, dead battery, lockout, or other services that require a tow truck, up to the limit you select.
Replacement Car Service (Rental Reimbursement): Pays for all expenses associated with renting a vehicle if yours is either stolen or under repair after accident. Your policy will have a per day limit and a per accident limit.
Many insurers offer additional covers such as personal accident cover for named drivers at no additional cost. Check with your Trusted Union broker to learn what additional covers are available from the insurer you select.