Be careful in comparing below basic coverage for Home Insurance before you make your purchase:
If you have hire domestic helpers or have a pet, you might also want to know more about these coverage:
Water pipe leakage coverage is usually categorized into Property loss due to water leakage and Maintenance cost of pipe, different insurance companies provide different level of coverage:
|Insurance Compny||Property loss due to water leak||24 hours emergency service (Maintenance cost of pipe)|
|Allied World||✓||Water draining system maintenance|
|Dah Sing||✕||Water draining system maintenance|
|Zurich||✓||Water supply system maintenance|
*The relevant cost will only be covered if the pipe is your own improvement but not the original structure.
Besides, if the water from the burst pipe damages the property of your neighbour, such as the apartment downstairs, AXA will cover your liability for such damage.
Before you decide which plan to buy, you have to first consider the "Household Content Cover". The maximum benefit could vary from HK$500,000 to HK$1,500,000 and some insurance companies' coverage are depending on the property area.
|Insurance Company (Plan)||Home Content Cover|
|Allied World(Plan I)||$600,000|
|AXA (SmartHome Optimum)||$750,000-$1,500,000*|
|Dah Sing (Plan B)||$600,000|
|FWD (Easy HomeCare )||$500,000|
|MSIG (Plan B)||$750,000|
|CHUBB MyHomeGuard Plan A - High Risk House||$300,000|
*Varies from gross floor area
In addition, each company will set a maximum limit for each property. Usually, there are two types of property including "Personal effects" and "Valuables". Most of the insurance companies will set a maximum limit for "Valuables" in between HK$150,000 to HK$ 250,000 per year.
|Insurance Company (Plan)||Personal Effects Cover^||Valuables Cover^|
|Allied World（Plan I）||$30,000||$10,000|
|Dah Sing (Plan B)||$3,000||$15,000|
|FWD (Easy HomeCare )||$100,000||$10,000|
|MSIG (Plan B)||$100,000||$15,000|
|CHUBB MyHomeGuard Plan A - High Risk House||$100,000||$10,000|
One of the benefits of buying a home insurance is your personal belongings could be covered even you are not in Hong Kong (when you are in a business trip or travelling around the world). The benefit is up to HK$5,000 to HK$20,000. However, only MSIG, Dah Sing and Prudential provide free covereage for worldwide personal belongings, and Zurich provides optional plan with additional price so you could choose the coverage that suit you the best.
|Insurance Company (Plan)||Personal Effects and ValuablesCover|
|Allied World (Plan I)||$5,000|
|AXA (SmartHome Optimum)||$30,000|
|Dah Sing (Plan B)||$15,000|
|FWD (Easy HomeCare )||Not applicable|
|MSIG (Plan B)||$11,250|
|Zurich (Standard)||Optional coverage, depends on additional premium
(free coverage for mobile, tablet and laptop)
|CHUBB MyHomeGuard Plan A - High Risk House||$2,500|
Besides, majority of insurance companies will list the coverage and maximum limit per policy year for "Loss of Personal Money", "Unauthorized use of Credit Card" and "Loss of Personal Documents" separately.
|Insurance Company (Plan)||Loss of Personal Money||Unauthorized use of Credit Card||Loss of Personal Documents|
|Allied World (Plan I)||$2,500||$2,500||$2,500|
|AXA (SmartHome Optimum)||$2,500||$10,000||$1,500|
|Dah Sing (Plan B)||$1,500||$3,000||$1,000|
|FWD (Easy HomeCare)||Not applicable||Not applicable||Not applicable|
|MSIG (Plan B)||$2,500||$10,000||$1,000|
|CHUBB MyHomeGuard Plan A - High Risk House||$2,500||$2,500||$2,500|
Each insurance companies has its own handlig for the coverage of domestic helper's effect. For example, Allied World and FWD list in details the maximum coverage for each item in each policy year but MSIG only lists the maximum coverage. Besides, domestic helper's effect is included in household content coverage in Prudential, CHUBB and Zurich's plan, while it is excluded in Dah Sing Insurance's plan.
|Insurance Company (Plan)||Domestic Helper's Effect Cover (Maximum Limit/year)||Domestic Helper's Effect Cover (Maximum Limit/item)|
|Allied World (Plan I)||$10,000||$2,500|
|AXA (SmartHome Optimum)||$25,000/each helper||$1,000|
|Dah Sing (Plan B)||X||X|
|FWD (Easy HomeCare )||$5,000||$1,000|
|MSIG (Plan B)||$5,000||Not applicable|
Dah Sing home insurance includes "Pet Cover" which cover medical expenses of your pet including out-patient and laboratory test. Dah Sing Plan B & Plan C could provide maximum of HK$3,500 benefit per year. Maximum cover for outpatient expenses is HK$300 per day, while maximum cover for X-Ray and Laboratory test is HK$2,000 (HK$1,000 per visit per day).
However, this is an optional coverage with HK$600 premium per year for each pet.