With the improvement of living standards, almost every family now has a car. As we know, it is necessary to buy car insurance before driving on the road. Below are some tips about buying car insurance in Hong Kong, let see if you know about them.
Types of car insurance
1. The type of car insurance: Third party car insurance or comprehensive car insurance. Also, there are some minor differences between private car, motorbikes, commercial car and taxi.
The insurance is used to secure "casualties and property losses" when an accident occurred. The minimum coverage for death and disable is 100 million and usually the policy included 2 million towards covering property damage.
The coverage looks like enough for some of the car owners. However, there are more costs you can have never imagined. The cost for repairing sometimes may not be cheap and at that moment you will usually find the coverage is far from enough.
Moreover, you should bear in mind that car insurance cannot be assured in some special circumstances. If the vehicle is used for illegal purposes, including illegal operations, your car insurance does not necessarily provide protection. One popular example is that an Uber driver may be not coverage as private car insurance does not cover commercial activities.
2. On top of the basic coverage, some car owners will buy comprehensive car insurance for better coverage, such as car damage insurance, stealing insurance, glass insurance and etc.
Car damage insurance: the main object of insurance is their own vehicles, when their vehicle failure and damage, and is their responsibility to be compensated.
Stealing insurance: When your vehicle is stolen or robbed, the insurance company will give the corresponding compensation.
Glass insurance: mainly for the car about the glass to provide insurance, no matter what kind of circumstances undermine the insurance will take effect.
Some of the knowledge about car insurance may be different in each place. What we have talked above is only for your reference, if you want to know the latest updates of car insurance policy, you can go to the government site in each country.
For Hong Kong government website, click here.
For Singapore government website, click here.
For British Government website, click here.