Car Insurance Guide to Expats:

Type of Coverage

Private motor insurance is compulsory in Hong Kong and there are two main types of cover available; Third Party Fire & Theft and Comprehensive.

Third Party Fire & Theft
Third party fire & theft covers the policymaker for any liabilities that arise to third parties as a result of his/her actions. This includes damage, injury and death. The minimum coverage required by law is HK$100,000,000. The policy will also cover the owner’s vehicle itself and any damages that arise by fire or theft. Not all insurance companies in Hong Kong provide this type of cover so you will need to check carefully if this is the type of insurance you require.

This type of insurance will cover everything named above as well as further risks. In the case of comprehensive insurance the premium takes into account a number of factors related to the vehicle itself including its value, age, location, condition and engine power. Comprehensive insurance policies are usually more expensive than third party fire and theft because they offer the owner more protection.

Important Terminology

Make and model of the vehicle : Some vehicles are classified as ‘high risk’ and can only be insured through a limited number of insurance companies at a high price.

Engine power: The more powerful the engine of the vehicle the more the premium will be.

Age of the vehicle: Older vehicles are often perceived to be of a higher risk and therefore may be more expensive to insure.

Value of the vehicle: For fully comprehensive insurance, the value of a vehicle will be of relevance and the higher the value of the vehicle, the higher the premium.

No Claims Discount: A No Claims Discount, or NCD, can be used to lower the overall premium by up to 60%. In order to use NCD to lower the premium you must prove to the insurer that you have more than one year of claims-free insurance. This occasionally can be difficult when your NCD lies with an insurer in an alternative country to Hong Kong and not all previous NCDs from your home country will qualify.

Quotation Search Engines

A couple of online insurance brokers are available in Hong Kong and they can be very useful in searching for insurance quotes from a number of different providers. Even if you do not ultimately award the insurance through these sites, you can gain a good insight into the price you can expect to pay in order to insure your vehicles.

Speed Insure
Tel: 2811 3108 / 8209 0020

Tel: 3113 1331

Insurance Providers

AXA General Insurance:
30/F PCCW Tower
Taikoo Place
979 King’s Road
Quarry Bay
Tel: 2523 3061

Bank of China Hong Kong:
PO Box 9526
General Post Office
Hong Kong
Tel: 3669 3003

Expat Services:
Suite 2404
Universal Trade Centre
3-5A Arbuthnot Road
Tel: 2893 3344

Falcon Insurance Company:
6/F DCH Commercial Centre
No. 25 Westlands Road
Quarry Bay
Tel: 2232 2222

GPO Box 64
Hong Kong
Tel: 2233 3130

Tokio Marine & Fire Insurance:
27/F United Centre
95 Queensway
Tel: 2529 4401

For More Information

Motor Insurers’ Bureau of Hong Kong

Hong Kong Federation of Insurers!/