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In Hong Kong, it is compulsory to carry at least HK$100,000,000 third‑party liability insurance for death or bodily injury to other road users under the Motor Vehicles Insurance (Third Party Risks) Ordinance.Policies also include third‑party property damage (TPPD) cover, commonly HK$2,000,000, which can often be increased on request, most frequently to HK$5,000,000 for private cars.

There are three main types: Third‑Party Only (TPO), Third‑Party Fire & Theft (TPFT) and Comprehensive.

• Third‑Party Only (TPO)
  Covers your legal liability to others (not the driver) for death or bodily injury up to at least HK$100,000,000, plus TPPD usually at HK$2,000,000. Increasing the TPPD limit to HK$5,000,000 or above is often advisable.
• Third‑Party Fire & Theft (TPFT)
  Provides TPO cover plus protection if your vehicle is damaged by fire or stolen. Premiums are often close to Comprehensive, so TPFT is less common.
• Comprehensive
  Includes TPO plus loss of or damage to your own vehicle (e.g. collision, fire, theft and many natural perils), plus benefits such as windscreen cover, towing, a short‑term replacement vehicle and limited medical expenses, depending on the policy. Personal belongings left in the vehicle are usually excluded and should be insured under a home contents or valuables policy.

TPO covers only third‑party injury and property damage, while Comprehensive also covers your own vehicle and may include additional benefits such as towing, windscreen and limited medical cover.

Statutory and standard TPO cover primarily protect third parties and passengers; they normally do not cover the driver’s own injury or loss of income, which should be arranged via personal accident, medical insurance or specific add‑ons where available.

No‑Claims Discount (NCD), or No‑Claims Bonus (NCB), is a discount applied to your premium for each claim‑free year; for private cars it often builds up to about 60%.

Typical NCD scale:

Many insurers will consider overseas claim‑free history if you can provide written proof; acceptance and the awarded percentage remain at the insurer’s discretion.

At‑fault claims normally reduce your NCD according to a step‑back scale and multiple such claims can reduce it to zero. If another party is fully at fault and your insurer recovers all costs, your NCD is usually restored, though it may be reduced temporarily while liability and recovery are being resolved.

Protected NCD is an optional benefit that allows you to keep your NCD after one at‑fault claim within specified limits (for example a monetary cap or percentage of sum insured); it typically does not transfer automatically when you move to a new insurer.

Basic NCD can often be transferred between insurers, and some insurers may allow transfers between spouses or between an individual and a company, subject to written proof and approval; NCD from a company policy does not usually belong to a named driver personally.

The excess is the amount you must pay yourself for each claim; more than one excess can apply to a single incident (for example, standard, young‑driver and unnamed‑driver excesses).

Example: A standard excess of HK$10,000, a young‑driver excess of HK$35,000 and an unnamed‑driver excess of HK$10,000 could total HK$55,000 if an unnamed driver under 25 causes an accident. Some insurers allow higher excess options in return for lower premiums, often reducing the premium by around 5–10%, subject to their rules.

Yes. EV premiums are often higher due to higher repair costs, specialised parts, fewer approved repairers and different risk characteristics. Telematics may increasingly allow usage‑based pricing for EVs, reflecting mileage and driving behaviour, with customer consent.

Only modifications that are declared and accepted by the insurer are covered; undeclared or illegal modifications can lead to reduced cover or declined claims.