Home Insurance

Introduction
Documents
Comparison 1

Introduction

There are basically three kinds of home plan on offer in Hong Kong, depending on the insurers' target market:

We would catagorize the plans on offer as either being designed for the:

Those that rate by the square feet are typically more of a mass market product, designed to simplify the calculation process, as most Hong Kong people know to a square inch the size of their apartment. These products tend to be lower priced than the more traditionally rated products and to have correspondingly more restrictive cover. Eg: no cover for iPhones or iPads etc.

See table below for what we see as the main areas of difference. Call us on 2530 2530 for more information.

Comparison

POINTS OF DIFFERENCE	Executive Market	Mid Market	Mass Market
Examples of Home Insurance plans in Hong Kong	Circle Assets	AXA Captains	MSIG Home Protector
	AXA ArtPLUS	AIG Prestige	AXA New Settlers
			AIG Premium Plus
Examples of Key points of difference
Rating by	Sums Insured	Sums Insured	Square foot area
Cover for Lost cash	HKD75,000	HKD5,000-30,000	HKD3,000-5,000
Cover for Lost/ damaged portable consumer electronics on a 'new for old' basis	Both AXA ArtPLUS and Circle Assets provide cover for this	Mobile phones for example, not covered or capped @ HKD1000 or with HKD2000 + deductible	Mobile phones for example, not covered or capped @ HKD1000 or with HKD2000 + deductible
Jurisdiction if sued for negligence	Worldwide jurisdiction offered by Circle Assets. AXA ArtPLUS requires purchase for this optional cover.	Any judgement against you overseas will be reinterpreted according to HK laws	Any judgement against you overseas will be reinterpreted according to HK laws
Minimum Annual Premium	HKD8,000 for AXA ArtPLUS	HKD1,000-HKD2,000	HKD1,000-HKD2,000
Free cover for Employees' Compensation for foreign domestic workers	Circle Assets and AXA ArtPLUS offer free cover for your domestic helpers	AXA Captains provides free EC cover for any number or legally employed foreign helpers,	AXA New Settlers provides free EC and Health/Accident cover for ONE legally employed foreign helper. Others Charge for this
Cover for Home Move	Full cover both locally and internationally, even for artwork bought and shipped to your home / storage	No company of which we are aware provides free international move cover. Some such as the AIG Prestige offer comparable cover to that which you have in your home, but you must provide AIG advance notice.	For those few that provide local move cover they will typically cap the move cover at perhaps HKD100,000
			E.& O.E