綜合汽車保險 (俗稱全保) (Comprehensive Insurance)
第三者責任保險 (俗稱三保) (Third Party Insurance)
Cover is the extent of protection that insurance provides to the insured. The term exceptions is used to describe this cover by stating what is excluded.
|◆||Limit of Indemnity (最高補償):|
| ||Indemnity is on the basis of that the insurer indemify or restore the insured to the same financial position after a loss as he enjoyed immediately before the loss.
Limit of Indemnity is the maximum amount that may be paid in compensation for exact financial loss by the insured.
|◆||Policy Limit (保單限額):|
|◆||Sum Insured (保額):|
| ||The sum insured represent that maximum liability of the insurer. Therefore, if a loss exceeds the sum insured an indemnity for that exceeded part of loss will not be available.
|◆||Limit of Liability(責任限額):|
| ||According to the law in Hong Kong [Motor Vehicle Insurance (Third Party Risks) Ordinance, any person using a motor vehicle on a road in Hong Kong shall have Third Party Insurance. The minimum amount of cover required under the said Ordinance is listed as follows:
| ||Max. amount of liability for the death of or bodily injury to any person not less than:||HK$100,000,000|
| ||Max. amount of liability for the property damage|
not less than:
Premium is the amount of money paid by the insured to the insurer as the consideration to the insurer for undertaking the insurance policy. It is calculated based on the sum insured, the limit of indemnity, cover, exceptions, and any other conditions of the policy.
All claims under an insurance policy are subject to an excess. This is a specified amount which is deducted from any claims payment made under the policy. An excess is essential as a certain amount of inevitable loss or damage can be anticipated in given circumstances. If insurers were to provide indemnity in respect of these comparatively minor losses or damages, the money that the insurance company has gained from premiums intended to pay for major losses would be eroded. The cost of insurance would then have to increase.
Tips: In general, more excess you afforded more discount imposed on proposed premium.
|◆||No Claim Bonus/Discount, NCB (無索償折扣):
| || ||Private Vehicle|
|◆||MIB (Motor Insurers’Bureau of Hong Kong) (香港汽車保險局):|