What is Home Insurance?

Home Insurance Hong Kong

Home insurance offers coverage to a home and the physical contents that were damaged by an unpredictable event. Depending on the insurance limit, these events can be anything, such as a storm, flood, earthquake, theft, vandalism, mechanical failure, and more.

As these events are unpredictable,  some may believe that this kind of insurance is not needed as these events are unlikely,  but soon you will understand everyone; the landlord or tenant, should get home insurance.

The insurance is becoming a necessity and is proven to help clients recover from such incidents. The policy will reduce financial risks for homeowners when they have to face such unpredictable events. In addition, the insurance gives the insured the hope of recovering from something that would be much harder and expensive to repair.

What is covered?

Home insurance covers a range of unpredictable events such as:

  • Natural Disasters- Storms, Tsunami, Hurricanes etc
  • Fires
  • Floods
  • Burglary
  • Third-party Damage (If your guest is injured in your home)

The insurance will provide capital to the insured for:

  • Damaged structure: for example Walls, Floor, Roof
  • Stollen or Damaged Personal Belongings– TVS, Laptop, Computers, Furniture
  • Additional Living Expenses-if you cannot live at home due to damage from an insured disaster. It covers hotel bills, restaurant meals and other costs, over and above your usual living expenses.

What should you know?

Every tenant needs home insurance to protect their valuables in the landlord’s house. The insurance that the landlord owns only covers the physical home, like the walls, floors and anything they own. In the case of a fire, the insurance company will only reimburse the landlord for their loss, not the tenant for all the valuables they have lost

The things that are not covered would be damage caused by neglect, incidents with deliberate maliciousness and failure to properly maintain the home. For example, mould, rusting, a fire caused by owner’s neglect may not be covered by a standard home insurance policy.

A major exclusion for home insurance is if the is loss or damage in the home where the owner has not lived in for more than 30 days. Another reason that will stop a  policy owner from receiving their insurance capital for theft will be if the house has been part of a sub-let or subdivided.



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