There's more to car insurance than comprehensive and third-party car insurance

車保點止全保三保咁簡單

As one of the top car insurance brokers in Hong Kong, Kwiksure always works to simplify different types of car insurance and coverage. Today, we'll give you a short 5-minute rundown of your insurance options as a car owner.

What are comprehensive insurance and third-party car insurance?

Of course, you can find more details on our website, but here's a quick snapshot:

  • Third-party car insurance covers the liability to third parties for claims on your behalf. These claims may include property damage, injury, or death. On the other hand, comprehensive car insurance provides an even wider area of coverage. As the cherry on top, it also offers protection for your car. 
  • Under Hong Kong law, all car owners must at least secure third-party injuries and death insurance for their vehicles. However, this insurance policy is with the car, not the owner. In other words, if someone gets into a traffic accident while driving your car, the insurance will still compensate you.

Are third-party and comprehensive insurance the only car insurance options in Hong Kong?

Besides third-party and comprehensive, some insurers will provide additional coverage:

  • Loss in a collision involving a third-party vehicle. This is similar to comprehensive insurance, but does not include loss that resulted from self-collision. For example, hitting a street light with your car is excluded from cover.
  • Additional damaged windscreens insurance: Head to an approved repairer to get your windscreen replaced for free. This won't affect your No Claims Discount (NCD). It's particularly suitable for cars going on Tuen Mun Road, Wan Po Road, and more, which are densely populated with dump trucks.
  • Approved repairer: This means car owners need to drive their cars to a designated repairer. It may not be convenient, but the premium will be cheaper. 
  • Personal accident cover insurance: Made especially for drivers with third-party insurance, this includes emergency towing service, and temporary substitute car service. All the while, it provides personal accident cover for both policyholders and their passengers.

Should you purchase third-party or comprehensive insurance?

The popular saying goes, "secure a third-party plan for your second-hand car, and a comprehensive plan for new cars". It is not entirely baseless. You can't get compensated for property loss if you get into a traffic accident with only third-party insurance for injuries and death. Naturally, this will be a heavy loss if you're driving a new car like Tesla. With a second-hand car, even at total loss, the cost will be limited. Thus, you don't necessarily need to secure a comprehensive plan. 

All car insurance works like this. Once an accident (caused by you) happens, your plan can compensate for the other party's injury and death. Still, third-party insurance does not cover specific scenarios:

  • Both cars crash. Although you are not at fault if the other driver disappears or suffers a bankruptcy. 
  • Your car has been crashed into while it is parked. 

As you can see, a comprehensive plan offers greater coverage than a third-party plan. Typically, it's more expensive as well. Usually, the premium for a comprehensive plan is at least 1 to 3 times that of third-party insurance. We suggest choosing a more established insurance company to avoid potential problems when filing for claims in the future.

Are premiums necessarily more expensive for new drivers with a probationary driver's license? 

As for drivers with a probationary driver's license, please see our article on lowering the cost of your premium.

How do you file for a claim once an accident happens?

Want to learn more about the claim-filing process? Check out our infographics on what to do after a traffic accident.

Contact Kwiksure for more insurance solutions

In addition to car insurance (third-party and comprehensive), Kwiksure also provides home insurance, motorcycle insurance, Voluntary Health Insurance Scheme (VHIS), Hong Kong-Zhuhai-Macao Bridge (HZMB) insurance, and many more. Get a free quote now with our online quotation tool! Want to chat with us? Contact our team of expert insurance advisors for impartial advice and a free plan comparison!