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You should buy travel insurance before every trip. However, most people have a question: Which is the best travel insurance plan in Hong Kong? You could consider below points when you choose the plan that suits you:
Buy a suitable travel insurance plan based on your destination.
Example︰In recent years, there were many terrorist attacks in Europe. If you plan to spend your holiday in Paris, you should pay attention to the terms related to terrorism coverage.
Choose the best plan to fit your journey and transportation means.
Example: The chance of flight delay is high if you plan to go to Japan in April (peak cherry season) by budget flight, you should be focusing on the delay coverage.
Apply for a cheaper plan with basic coverage.
Example: Travel insurance companies in HK often offer discounts, you can even apply for a 5-day basic plan with less than HK$100.
MoneyHero.com.hk provides a one-stop platform for you to:
Travel insurance is insurance that provides coverage for accidents and other losses incurred while travelling. However, the insurance company might add the exclusion clauses, which remove the insurance coverage for the specified events and choose not to insure the events. The relevant reasons include: such coverage is available under another class of insurance, the risks are not suitable to be taken up, or some special conditions are required, etc. There are numbers of categories included in the exclusion clauses of a travel insurance policy, including:
War, Civil War, invasion, insurrection, revolution, use of military power or usurpation of government or military power, direct participation in strike, riot and civil commotion
An Insured Person not taking all reasonable efforts to avoid Injury or to minimize any claim under this Policy; suicide or attempted suicide or intentional self-injury, or self-exposure to needless peril;
Any prohibition or regulations by any government; any breach of government regulation or any failure by the Insured Person to take reasonable precautions to avoid a claim under this insurance following the warning of any intended strike by the employees of a Common Carrier, riot or civil commotion, inclement weather, natural disasters, or epidemic
* If the government issues Black OTA to designated countries/territories after an Insured Person buys the travel insurance, which includes Black OTA as a part of the insurance coverage, the Insured Person can be compensated. If an Insured Person buys the travel insurance after the issuance, the insurance company would not compensate.
Any prohibition or regulations by any government; confiscation, detention, destruction by customs or other authorities; an Insured Person who is a Terrorist or a Member of a Terrorist Organization; any illegal or unlawful act by the Insured Person;
Riding in any aircraft except as a passenger; mountain trekking above 5,000 metres or diving below 30 metres
Being as a crew member of an operator of any air carrier; testing of any kind of conveyance; engaging in any kind of labour work; engaging in offshore activities like commercial diving, oil rigging, mining or aerial photography; handling of explosives; performing as actor/actress; being a site worker, fisherman, cook or kitchen worker; tour guide or tour escort
Loss, injury, damage or legal liability arising directly or indirectly from planned or actual travel in, to, or through Cuba, Iran, Syria, Sudan, North Korea, or the Crimea region
Any loss which relates to the effects of alcohol or drugs other than those prescribed by a Physician or Doctor;
Pregnancy, miscarriage or childbirth; or any injury or sickness associated with pregnancy, miscarriage or childbirth;
Pre-existing Medical Conditions
Any Pre-existing Condition
Specific Medical Conditions
AIDS or any Injury or Sickness commencing in the presence of a seropositive test for HIV and related diseases and/or sexually transmitted disease; Psychosis, sleep disturbance disorder, mental or nervous disorders
Nuclear risks of any nature; radioactive, nuclear pollution or contamination
Any medical treatment received in the course of a Trip which was made for the purpose of receiving medical treatment (need not be the sole purpose); or the Trip was undertaken while the Insured Person was unfit to travel or against the advice of a Physician or Doctor
When you apply for any insurance plan, disclose all relevant information to the insurer.
Most travel insurance companies in Hong Kong provide different type of plans for different travelers. They include:
Annual travel insurance plan is suitable for travel lovers and business travellers.
Unlike single travel insurance plan, annual travel insurance plan covers for an unlimited number of trips within a year (the insurance period). The Insured Person does not need to buy insurance for every single trip if they already purchase annual travel insurance. It can help customers to save time and money. Each Journey, which is under the coverage of annual travel insurance, lasts no longer than 90 days. A trip, which is covered by single travel insurance, can last no longer than 180 days. There is no big difference in benefits between annual and single plan.
To attract customers, many companies provide discount promotion. For example, you can enjoy 30% off exclusive discount if you buy CHUBB / Allied World / STARR / FWD/ Zurich and Falcon single trip plan in Moneyhero.com.hk platform. MSIG is also providing 45% discount now. Let’s take a 5-day Japan trip as an example, the difference between the cheapest and most expensive plan can up to $220:
|Insurance Companies（Plan）||Original Price||Discount Price|
|Allied World（I / II）||$154 / 225||$107.8 / 157.5|
|AXA（Classic / VIP）||$160 / 225||-|
|CHUBB（3/2/1）||$152 / 249 / 340||$106.4 / 174.3 / 238|
|FWD（B / A）||$155 / 215||$108.5 / 150.5|
|Liberty（Asia/ Worldwide）||$148 / $321||-|
|MSIG（B / A）||$268 / 364||$147.46 / 200.28|
|STARR（Essential / Extra / Supreme）||$95 / 135 / 193||$66.5 / 94.5 / 135.1|
Travel insurance is a contract between you and the insurer, where you are entitled to compensation for any loss related to an adverse event during travel. You, as the policyholder, are covered when you incur losses during domestic or international travel.
Most travel insurance plans provide the following coverage:
Some plans provide special coverage:
Different insurance plans have their own set of rules and specific coverage terms. Our comparison tool helps you set them apart so you can choose one that fits your requirements.
Remember, you can use our comparison tool for free! Filter your search results according to provider, insurance benefits, price range, and other features. All you have to do is to click the Apply Now button and you're one step closer to full protection on your next trip.
More people choose to buy travel insurance online because of convenience and efficiency these days.
There are four benefits of buying travel insurance online:
Many insurance companies sell their insurance plans online. The Insured Person can compare and buy travel insurance online via desktop and/or mobile devices anywhere. It is no longer necessary to spend extra time to somewhere else for signing up for a travel insurance policy with the insurance agent.
The Insured Person can buy travel insurance online 24/7. Some insurance companies allow their customers to buy the plan a few hours before the start date of the trip.
You can fill the form and buy the plan within minutes. Then, spend more time planning a travel itinerary.
Since there is no insurance agent involved during the time of purchase, the operating cost is relatively lower. Therefore, the premium of online travel insurances is cheaper than the traditional ones.
Many of us take electronic devices like mobile phones along with our trips. However, most travel insurances do not cover us for mobile phones. Only Allied World, AXA, and CHUBB provide mobile phone coverage:
|Travel Insurance Companies||Mobile Phone Coverage||Tablet Coverage||Laptop Coverage|
If you lost your personal items during the trip, you should report to local police after the incidence within 24 hours and keep all supporting documents and original receipts for an insurance claim. You should also pay attention that your insurer may refuse your claim if you have not looked after your properties properly.
The government of Hong Kong launched the Outbound Travel Alert (OTA) System to help Hong Kong people understand the risk to personal safety in traveling overseas, and there are three colors, namely Amber, Red and Black to indicate the alert level. Many travel insurance plans cover countries with OTA and they usually cover trip cancellation and trip curtailment, but applicants should keep in mind that the actual compensation depends on the policy's maximum limit, while some insurance plans only cover countries with a Black Alert. In addition, not all insurance plans cover terrorist attacks, you should check the exclusions even if they have a terrorism cover.
Does travel insurance cover rental cars?As rental cars are not classified as a way of public transportation, a rental car accident is not covered under the personal accident benefits. Rental charges usually include basic protection with third-party liability; if you want more protection, you could choose a comprehensive coverage plan. Now that many travel insurance plans offer a Rental Vehicle Protection which normally compensates for the motor insurance policy excess incurred by you only, excluding other expenses due to the accident. Applicants should read the policy's terms carefully.
Travel delay coverage varies by the insurance policy. You will probably get a compensation of about HK$300 if you experienced a delay of more than 6 hours. Some insurance plans also reimburse the extra costs for accommodations. Applicants should keep all relevant receipts and ask the airlines or transportation agencies to provide a written proof as a clear evidence, or the insurer may refuse the claim.
Basically you should buy travel insurance as early as possible. It is recommended that you buy your travel insurance once you have booked your air tickets and hotels to get better coverage. Travel insurance cover usually starts once you have bought the policy; if you buy the insurance and the government issues a Black OTA for your travel destination while it covers a Black Alert, you may make a claim. But if you buy an insurance after the Black Alert has been issued, you would not be compensated for that.
Let's find out the travel insurance plan that fit you the best now!
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