Hong Kong automotive insurance coverage is principally divided into Third-party legal responsibility insurance coverage and Complete insurance coverage. Hong Kong has a big inhabitants and lots of automobiles, plus there are frequent heavy rain flooding. As a automotive proprietor, how must you defend your car and select the precise automotive insurance coverage? Kwiksure will clarify intimately the protection of the third get together automotive insurance coverage and complete insurance coverage, the elements that have an effect on the premium, and the explanations for automotive insurance coverage rejection, in order that your automotive can get essentially the most appropriate safety.
Complete insurance coverage vs. third-party insurance coverage: a comparability
Because the three fundamental automotive insurance coverage insurance policies solely cowl damage and property harm to 3rd events apart from the automotive proprietor, if a site visitors accident happens, the automotive proprietor must pay all of the automotive restore prices themselves. Due to this fact, many automotive house owners select to buy extra insurance coverage.Complete insurance coverage get complete safety. Full protection insurance coverage has the broadest scope of safety, which, along with the three fundamental insurance coverage insurance policies, additionally supplies compensation for the proprietor’s personal car.
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Complete insurance coverage vs. third-party insurance coverage
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Protection
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Third-party insurance coverage
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Third-party property loss
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HK$2 million
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HK$2 million
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The loss of life or bodily damage of a 3rd get together
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HK$100 million
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HK$100 million
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Harm to at least one’s personal automotive
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✓
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X
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Medical bills
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✓
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X
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Electrical car charger broken
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✓
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X
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Commerce in your previous automotive for a model new one within the first yr
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✓
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X
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Automotive rental assure
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✓
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X
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Windshield safety
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✓
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X
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No-claim low cost safety
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✓
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X
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24-hour roadside emergency help
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✓
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X
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Misplaced automotive keys
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✓
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X
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Components with out depreciation restore assure
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✓
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X
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Elements affecting insurance coverage premiums
Policyholder’s age / License period
Younger drivers or these with shorter driving expertise are thought-about to have inadequate driving expertise and usually tend to be concerned in site visitors accidents. Due to this fact, insurance coverage firms typically cost increased premiums or could embody deductibles or different circumstances.
Automobile age
The older a car is, the decrease the reliability of its elements and the upper the dangers concerned. Due to this fact, insurance coverage firms normally cost extra charges on prime of the premium for automobiles which can be over 10 years previous.
Automobile market worth
The compensation quantity for full protection shall be considered Automobile market worth. Due to this fact, the worth of a automotive on the time of insurance coverage immediately impacts the premium. Since the next automotive worth includes the next declare quantity, it poses the next threat to the insurance coverage firm, thus rising the premium accordingly. Supercars or sure automobiles that require costly components ordered from abroad may even have increased full-coverage premiums than strange automobiles.
Automobile efficiency
Automobile efficiency primarily impacts insurance coverage premiums. The upper the engine horsepower and pace of a car, the higher the prospect of rushing or a collision, and subsequently the upper the premium.
Driver career
The automotive proprietor’s occupation can also be an element that impacts the insurance coverage premium. For instance, if the automotive proprietor works within the development trade and must drive to and from development websites, the chance of accidents or car harm shall be increased, and the premium shall be a lot increased than that of the typical white-collar employee, and there may be extra clauses.
Deposit
Deposit the deductible, also called the deductible, is the quantity the policyholder should pay out of pocket when making a declare; the insurance coverage firm then reimburses the remaining quantity. The deductible varies between insurance coverage firms and insurance policy; the next deductible ends in a decrease premium.
Personal automobiles typically don’t have a declare low cost.
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Yr of insurance coverage
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No-claim low cost
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First yr
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0%
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The second yr
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20% = 20% off
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Third yr
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30% = 30% off
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Fourth yr
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40% = 60% off
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Fifth yr
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50% = Half off
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Sixth yr
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60% = 40% off
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Comparability of Third get together insurance coverage and complete insurance coverage
For instance, a driver who’s 36 years previous, has been driving for five years, has a 60 NCD, and is a 2024 BYD ATTO 3 (insured quantity of HKD 250,000).
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Insurance coverage Firm
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complete insurance coverage
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Third get together insurance coverage
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Allianz Auto Insurance coverage
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$5,913
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$5,469
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Ping An Insurance coverage (Hong Kong)
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$3,795
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$1,516
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bolttech (FWD Good Driving Plus)
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$4,281
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$2,062
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$2,939
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$1,897
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Dah Sing Financial institution
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$4,185
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$1,560
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$3,641
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$1,823
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*The above costs are for reference solely as of November 17, 2025. All info is topic to the bulletins of the related insurance coverage firms.
Comparability of protection objects in complete automotive insurance coverage
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Insurance coverage Firm
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Medical bills
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Self-insurance for car harm
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No-claim low cost safety
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Automotive rental/constitution assure
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Automotive glass
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Misplaced automotive keys
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Allianz Auto Insurance coverage
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$10,000
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have
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$100,000
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Most $1,000 per day, most 5 days
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Windshield/Window ($5,000)
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No
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Ping An Insurance coverage (Hong Kong)
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have
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have
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$60,000 or 15% of the insured quantity
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Free shuttle service offered
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All automotive home windows ($3,000)
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$10,000
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bolttech (FWD Good Driving Plus)
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$2,000
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have
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$60,000 or 15% of the insured quantity
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80% of the hire (most protection of $1,000 per day, most protection of $5,000 per incident).
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Windshield ($5,000)
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No
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$4,000
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have
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$60,000 or 20% of the insured quantity
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$4,000 per accident or per protection interval (most $1,000 per day)
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Windshield ($5,000)
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No
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Dah Sing Financial institution
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No
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have
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$60,000 or 15% of the insured quantity
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80% of the hire (most protection of $1,000 per day, most protection of $5,000 per incident).
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Windshield/Sunroof ($5,000)
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No
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$2,000
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have
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$50,000 or 15% of the insured quantity
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$500 / day
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Windshield (no change required)
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$2,000
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*All info is topic to the bulletins of the related insurance coverage firms.
Automotive Insurance coverage Case Solutions
Situation 1: If I file a declare after a automotive accident, will my NCD be deducted subsequent yr?
Full protection: When you make a declare to the insurance coverage firm after a automotive accident, the No-Declare Low cost (NCD) for the next yr will typically be deducted. Nevertheless, in case you have No-Declare Low cost protection, the NCD won’t be deducted once you renew your coverage the next yr, offered that it doesn’t exceed the restrict.
Third-party legal responsibility insurance coverage: Third-party legal responsibility insurance coverage covers harm to your personal car. Due to this fact, if a declare is made towards a 3rd get together, it typically won’t have an effect on your NCD (Non-Price Compensation Certificates). Quite the opposite, if a 3rd get together makes a declare, your NCD could also be deducted once you renew your insurance coverage the next yr.
Situation 2: Towing and medical bills in case of a site visitors accident?
Full protection: This sometimes consists of free towing service, with a most payout of roughly $2,000 per incident, protecting the price of towing the car to a delegated restore heart. Concerning medical bills, private damage medical bills for each the proprietor and passengers are coated, with compensation starting from $2,000 to $10,000, relying on the insurance coverage phrases.
Third-party legal responsibility insurance coverage: Some third-party legal responsibility insurance coverage insurance policies embody 24-hour free roadside help and towing providers, however the protection and compensation quantity are typically not as complete as full legal responsibility insurance coverage. As well as, third-party legal responsibility insurance coverage doesn’t cowl medical bills for the car proprietor and passengers, and such medical bills should be borne by the car proprietor.
Situation 3: Automobile stolen?
Complete Protection: The insured can declare compensation for car theft from the insurance coverage firm, however should first report the theft to the police and supply a police report and declare software. The compensation quantity is the depreciated market worth of the car on the time of theft, minus the theft deductible stipulated within the coverage.
The three ensures don’t cowl losses as a consequence of car theft; car house owners should bear the lack of their stolen automobiles themselves.
Situation 4: Rental charges when repairing a car?
Full protection: Full protection typically covers rental automotive prices in the course of the car restore interval. The protection interval is normally 5 to 7 days, and the protection quantity is roughly $500 to $1,000 per day, relying on the insurance coverage firm’s phrases.
The three ensures don’t cowl harm and restore prices to your personal car. Due to this fact, rental automotive charges in the course of the restore interval are typically not coated by the three ensures, and the automotive proprietor is accountable for the rental automotive charges.
Situation 5: Are you required to pay a excessive deductible for a site visitors accident?
Complete insurance coverage: This normally features a deductible, also called an exclusion price. That is the portion of the associated fee that the automotive proprietor should pay out of pocket for every declare earlier than the insurance coverage firm will reimburse losses exceeding this quantity. The deductible can differ relying on the insurance coverage firm, the car mannequin, and the coverage phrases, typically starting from a number of thousand to over ten thousand yuan.
Third-party legal responsibility: For claims involving third-party property harm, a deductible is waived (typically relevant to NCB insurance policies with 20% to 60% protection, with exceptions for sure car fashions and particular circumstances). In different phrases, if an accident happens and impacts a 3rd get together (resembling different automobiles, pedestrians, or different car house owners), the policyholder doesn’t have to pay any deductible; the insurance coverage firm will totally compensate the third get together.
Situation 6: Automobile broken by wind and water?
Complete insurance coverage sometimes covers car harm brought on by typhoons (resembling Hurricane Sign No. 8) and heavy rain (flooding), together with harm from falling timber, damaged home windows, automobiles being overturned by sturdy winds, and flooding. The insurance coverage firm will compensate primarily based on the precise restore prices. If the car is severely broken and requires complete loss reimbursement, compensation shall be primarily based on its depreciated market worth.
The three ensures don’t embody compensation for harm to the car itself, and won’t cowl car harm brought on by typhoons or flooding.
Tough Automotive Insurance coverage | Will Automotive Insurance coverage Firms Refuse to Cowl Your Insurance coverage?
As a result of insurance coverage firms assess and decide premiums primarily based on every automotive proprietor’s particular person circumstances, policyholders with poor driving data or a number of claims could also be denied protection. Some insurance coverage firms additionally refuse to insure younger drivers or these with lower than two years of driving expertise to cut back the chance of claims. In such circumstances, even when the insurance coverage firm underwrites the coverage, the policyholder could need to pay substantial premiums and deductibles to acquire protection.
If a automotive proprietor has been refused insurance coverage or had their coverage terminated, it will likely be troublesome to seek out an insurance coverage firm to underwrite them once more. Due to this fact, automotive house owners must be vigilant whereas driving and attempt to keep away from site visitors accidents to keep up a very good report. Younger folks. P License drivers can select to buy fundamental automotive insurance coverage first, after which buy full protection insurance coverage after holding a sound driver’s license for 2 years to save lots of on premiums; or they’ll add themselves to the insurance coverage coverage of a extra skilled driver (resembling their mother and father) to grow to be a registered driver.
Which automotive insurance coverage store ought to I select?
In addition to premium costs, policyholders ought to examine the protection and exclusions of various insurance policy and weigh their particular person wants to decide on an acceptable plan. You may attempt acquiring quotes by means of totally different channels, evaluating costs from totally different suppliers, and deciding on essentially the most cost-effective plan to save lots of on premiums. Contact a good automotive insurance coverage dealer to get a free insurance coverage quote.。
