Car Insurance

What is Car Insurance?

Car owners are financially liable for any accidents, injuries, or damage caused by their vehicle.

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Car insurance, also known as automobile insurance, covers vehicle damage and protects vehicle owners financially against injuries or damages for which they may be liable. The insurance premium differs depending on the car, driver experience and country.

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In Hong Kong, it is mandatory to have car insurance that covers and protects third parties from injuries and property damage caused by the car.

What Does Car Insurance Cover?

A comprehensive car insurance policy will cover the following:

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• Accident Vehicle Damage: Covers repair costs from collisions, including damage to other vehicles if the policyholder is at fault.

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• Third-party Injuries & Property Damage: Covers legal, medical, and compensation costs for injuries to bystanders or damage to public property.

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• Natural Disaster Vehicle Damage: Provides financial protection against damage from natural disasters and can include fire insurance.

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• Vandalism & Theft: Covers repair costs from vandalism and loss of the vehicle due to theft.

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• Medical Expenses: Some policies cover medical costs for injured passengers in a policyholder’s accident.

Car Insurance Tips