Home Insurance - Introduction

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:

See table below for what we see as the main areas of difference.

Call us on 2530 2530 for more information.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.

POINTS OF DIFFERENCE Executive Market Mid Market Mass Market
Examples of Home Insurance plans in Hong Kong
Hiscox HomeExec AXA Captains MSIG Home Protector
AXA Art Zurich Deluxe AXA New Settlers
AIG Prestige 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 Hiscox HomeExec alone provides Moble phones for example, not covered or capped @ HKD1000 or with HKD2000 + deductible Moble phones for example, not covered or capped @ HKD1000 or with HKD2000 + deductible
Jurisdiction if sued for negligence Worldwide (90 days pa in USA for Navigator HomeExec).. Optional add on for AXA Art 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 HKD10,000 for AXA Art plus and HKD6,000 for stand alone art cover HKD1,000-HKD2,000 HKD1,000-HKD2,000
Free cover for Employees' Compensation for foreign domestic workers Hiscox HomeExec provides free cover for any number of domestic employees. AXA requires a separate domestic helper policy 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

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