Your lender probably required you to purchase your fire insurance policy as a condition of your mortgage loan. The aim of this was primarily to protect you lender’s interest in the property as the mortgage provider, which focuses on the physical structure to the property. Hence, the coverage is for fire damage (being a common risk to the structure).
But what about damage caused by risks other than fire (such as typhoon and landslide)? What about your home contents: the everyday appliances, furnishings and valuables that your family possesses and which help you live your lives? And what about your potential legal liability to third parties, which can be catastrophic to your asset base? Premium Home Plus – Enhanced Version helps you address these risks. Remember, together your home and contents probably make up your most valuable asset. To give you peace of mind and financial security, make sure you have the right protection for them.
Yes, fire insurance can be offered on a standalone basis under Premium Home Plus – Enhanced Version. Please fill in Section 2 Building of the Proposal Form.
Yes, we cover physical loss or damage to your household contents, personal belongings and valuables caused by rainwater seepage due to tropical cyclone warning signal no. 3 or above or rainstorm warning signal “Amber” or above.
Yes, if you want to obtain insurance coverage on valuables exceeding the policy article limit, please list down items individually on the proposal form. If the space in the proposal form is inadequate, please list additional articles on a separate page. We will provide a quotation upon receiving your list of valuable items.
You do not need to cancel the existing policy. Simply send a request to AIG Insurance Hong Kong Limited at email@example.com to change the address and provide the new flat details. The premium may be subject to change, depending on the gross floor area, building age and type of your home.
Yes, we offer worldwide cover (including USA/Canada) against personal legal liability in respect of accidental bodily injury and property damage to a third party due to you or your family members’ negligence. However, this is subject to liability being established under Hong Kong laws and jurisdiction.
You may buy Section 1 to cover your household contents. Since you are not the legal owner of the insured property, you are not qualified to apply fire policy under Section 2 of Premium Home Plus – Enhanced Version.
Excess will be applied for different sections. For Section 1 covering household contents, the excess is:
- HK$250 for each and every claim (exclude Rainwater Seepage)
- HK$3,000 or 10% adjusted loss for each and every claim for Rainwater Seepage
For Section 2 covering Building, the excess is:
- 10% of adjusted loss subject to minimum of HK$250 for each and every non-water damage claim
- 10% of adjusted loss subject to minimum of HK$1,000 for each and every water damage claim