Hong Kong automotive insurance coverage is especially 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 automobile and select the best automotive insurance coverage? Kwiksure will clarify intimately the protection of the third celebration automotive insurance coverage and complete insurance coverage, the components that have an effect on the premium, and the explanations for automotive insurance coverage rejection, in order that your automotive can get probably the most appropriate safety.
Complete insurance coverage vs. third-party insurance coverage: a comparability
For the reason that three primary automotive insurance coverage insurance policies solely cowl damage and property harm to 3rd events aside from the automotive proprietor, if a visitors accident happens, the automotive proprietor must pay all of the automotive restore prices themselves. Subsequently, many automotive homeowners select to buy further insurance coverage.Complete insurance coverage get complete safety. Full protection insurance coverage has the broadest scope of safety, which, along with the three primary insurance coverage insurance policies, additionally supplies compensation for the proprietor’s personal automobile.
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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 celebration
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HK$100 million
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HK$100 million
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Injury 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 automobile 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 12 months
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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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Elements 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 length
Younger drivers or these with shorter driving expertise are thought-about to have inadequate driving expertise and usually tend to be concerned in visitors accidents. Subsequently, insurance coverage corporations usually cost greater premiums or might embrace deductibles or different situations.
Automobile age
The older a automobile is, the decrease the reliability of its parts and the upper the dangers concerned. Subsequently, insurance coverage corporations normally cost further charges on high of the premium for automobiles which can be over 10 years previous.
Automobile market worth
The compensation quantity for full protection will likely be considered Automobile market worth. Subsequently, the worth of a automotive on the time of insurance coverage straight impacts the premium. Since the next automotive worth includes the next declare quantity, it poses the next danger to the insurance coverage firm, thus rising the premium accordingly. Supercars or sure automobiles that require costly components ordered from abroad can even have greater full-coverage premiums than peculiar automobiles.
Automobile efficiency
Automobile efficiency primarily impacts insurance coverage premiums. The upper the engine horsepower and velocity of a automobile, the larger the prospect of rushing or a collision, and due to this fact 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 building trade and must drive to and from building websites, the chance of accidents or automobile harm will likely be greater, and the premium will likely be a lot greater than that of the typical white-collar employee, and there may additionally be further clauses.
Deposit
Deposit the deductible, often known as 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 corporations and insurance policy; the next deductible leads to a decrease premium.
Non-public automobiles usually shouldn’t have a declare low cost.
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12 months of insurance coverage
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No-claim low cost
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First 12 months
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0%
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The second 12 months
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20% = 20% off
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Third 12 months
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30% = 30% off
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Fourth 12 months
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40% = 60% off
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Fifth 12 months
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50% = Half off
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Sixth 12 months
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60% = 40% off
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Comparability of Third celebration 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 celebration 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 Sensible 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 corporations.
Comparability of protection gadgets 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 automobile 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 supplied
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All automotive home windows ($3,000)
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$10,000
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bolttech (FWD Sensible 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 lease (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 lease (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 corporations.
Automotive Insurance coverage Case Solutions
Situation 1: If I file a declare after a automotive accident, will my NCD be deducted subsequent 12 months?
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 12 months will usually be deducted. Nonetheless, when you have No-Declare Low cost protection, the NCD is not going to be deducted if you renew your coverage the next 12 months, supplied that it doesn’t exceed the restrict.
Third-party legal responsibility insurance coverage: Third-party legal responsibility insurance coverage covers harm to your personal automobile. Subsequently, if a declare is made in opposition to a 3rd celebration, it usually is not going to have an effect on your NCD (Non-Value Compensation Certificates). Quite the opposite, if a 3rd celebration makes a declare, your NCD could also be deducted if you renew your insurance coverage the next 12 months.
Situation 2: Towing and medical bills in case of a visitors accident?
Full protection: This sometimes contains free towing service, with a most payout of roughly $2,000 per incident, masking the price of towing the automobile to a delegated restore middle. 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 embrace 24-hour free roadside help and towing providers, however the protection and compensation quantity are usually 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 automobile proprietor and passengers, and such medical bills have to be borne by the automobile proprietor.
Situation 3: Automobile stolen?
Complete Protection: The insured can declare compensation for automobile 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 automobile on the time of theft, minus the theft deductible stipulated within the coverage.
The three ensures don’t cowl losses as a result of automobile theft; automobile homeowners should bear the lack of their stolen automobiles themselves.
Situation 4: Rental charges when repairing a automobile?
Full protection: Full protection usually covers rental automotive prices throughout the automobile 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 automobile. Subsequently, rental automotive charges throughout the restore interval are usually 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 visitors accident?
Complete insurance coverage: This normally features a deductible, often known as an exclusion payment. 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 range relying on the insurance coverage firm, the automobile mannequin, and the coverage phrases, usually 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 (usually relevant to NCB insurance policies with 20% to 60% protection, with exceptions for sure automobile fashions and particular circumstances). In different phrases, if an accident happens and impacts a 3rd celebration (similar to different automobiles, pedestrians, or different automobile homeowners), the policyholder doesn’t must pay any deductible; the insurance coverage firm will absolutely compensate the third celebration.
Situation 6: Automobile broken by wind and water?
Complete insurance coverage sometimes covers automobile harm brought on by typhoons (similar to Hurricane Sign No. 8) and heavy rain (flooding), together with harm from falling bushes, damaged home windows, automobiles being overturned by robust winds, and flooding. The insurance coverage firm will compensate based mostly on the precise restore prices. If the automobile is severely broken and requires complete loss reimbursement, compensation will likely be based mostly on its depreciated market worth.
The three ensures don’t embrace compensation for harm to the automobile itself, and won’t cowl automobile harm brought on by typhoons or flooding.
Difficult Automotive Insurance coverage | Will Automotive Insurance coverage Corporations Refuse to Cowl Your Insurance coverage?
As a result of insurance coverage corporations assess and decide premiums based mostly on every automotive proprietor’s particular person circumstances, policyholders with poor driving information or a number of claims could also be denied protection. Some insurance coverage corporations additionally refuse to insure younger drivers or these with lower than two years of driving expertise to scale back the chance of claims. In such circumstances, even when the insurance coverage firm underwrites the coverage, the policyholder might must pay substantial premiums and deductibles to acquire protection.
If a automotive proprietor has been refused insurance coverage or had their coverage terminated, it is going to be troublesome to seek out an insurance coverage firm to underwrite them once more. Subsequently, automotive homeowners ought to be vigilant whereas driving and attempt to keep away from visitors accidents to take care of file. Younger folks. P License drivers can select to buy primary 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 will add themselves to the insurance coverage coverage of a extra skilled driver (similar to their dad and mom) to grow to be a registered driver.
Which automotive insurance coverage store ought to I select?
Moreover premium costs, policyholders ought to examine the protection and exclusions of various insurance policy and weigh their particular person wants to decide on an appropriate plan. You’ll be able to strive acquiring quotes via completely different channels, evaluating costs from completely different suppliers, and deciding on probably 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.。