Home Insurance

There are basically two kinds of home insurance plan in HK, namely those that:     * Rate by the size of your apartment in square feet – giving a standard HKD500,000 or HKD1m cover     * Rate by the value of your contents Those that rate by the square feet are typically more of a mass market product, designed to simplify the calculation process, as most Hong Kong people know to a square inch the size of their apartment. These products tend to be lower priced than the more traditionally rated products and to have correspondingly more restrictive cover. Eg: no cover for iPhones or Blackberries. The monthly paid ‘New Settlers Home Package' which we administer on behalf of Axa, guarantees to match or better any comparable offer. This plan includes free cover for a helper and covers the compulsory Employees’ Compensation cover as well as the typical outpatient, dental and hospital cover offered in most similar plans. If you need to pay over US$1000 pa on covering your home and valuables, we recommend a product from HSBC called ‘Global Home’. This product became the defacto replacement for Chubb’s Masterpiece when Chubb abruptly withdrew Masterpiece from sale in HK in April 2010. Global home provides HKD75,000 cover for unlisted jewelry items.