Ask yourself if you are a tin car, in addition to regular maintenance for your car, have you purchased a comprehensive insurance for your car?
Car insurance is not only a peace of mind for car owners, it is also a legal requirement in Hong Kong.
However, there are many choices of car insurance plans in the market. How should you choose an insurance with a reasonable price and a coverage that suits your needs?
Keep an eye out for these three factors to learn more tips for choosing car insurance!
Buying three guarantees to save money
In order to save money or only choose to buy three guarantees, some car owners often underestimate the maintenance costs caused by accidents.
Take European cars as an example. Although European cars have been very popular among Hong Kong people in recent years, they are far more expensive in the Hong Kong car market than in foreign countries due to factors such as the import price plus the first registration tax and license fee.
In addition, the price of auto parts and the cost of hiring maintenance workers have been on the rise in recent years, and the cost increase will inevitably be passed on to consumers. The maintenance cost is as high as six figures per minute!
Therefore, if the price of the car and the maintenance cost caused by the accident are high, the car owner should consider choosing full insurance to reduce their potential financial burden.
In case of unstable road conditions, second-hand car owners have plans
Some people say, "Of course you only buy three guarantees for second-hand cars." But as a second-hand car owner, have you evaluated your ability to adapt to driving on the road?
The road surface in Hong Kong is bumpy from time to time, and there is a chance that the moving car may be damaged due to damaged parts, or the windshield may be broken by the crushed stone.
When faced with such a sudden situation, if the car owner does not have enough adaptability, he may be at a loss immediately.
At this time, if the car owner has purchased a comprehensive insurance plan specified in the market, he can immediately follow the instructions to seek assistance from a special person to reduce anxiety.
For example, the designated comprehensive insurance plan of China Ping An Online Auto Insurance comes with additional free 24-hour road emergency assistance services and windshield protection, including replacement of spare tires and provision of towing services, which are provided by carefully selected and accredited services Suppliers provide windshield replacement services to solve urgent needs for car owners.
Therefore, if you think your ability to drive on the road is average to low, even if you are using a second-hand car, you should consider whether the additional protection attached to the full warranty is helpful to you.
The choice of car insurance should be based on your ability to bear the risks
The law stipulates that car owners must purchase third-party liability insurance (three guarantees) for each car, and car owners can also choose comprehensive car insurance (full insurance) with more protection according to their own needs.
The biggest difference between the two is that the three guarantees provide personal injury and property damage to third parties, while the damage to the car itself and the medical expenses of the named driver are not covered.
On the contrary, in addition to the three guarantees, the comprehensive insurance also covers losses caused by floods, fires, traffic accidents, theft or malicious damage. Even if the accident does not involve a third party, there is a chance to receive compensation.
For example, when the body of the insured car is accidentally scratched in the parking lot, the car owner who has purchased the full insurance can apply to the insurance company for compensation, while the three guarantees cannot provide relevant support.
In addition to the maintenance costs caused by ordinary accidents, it is believed that some car owners have also encountered the situation of damaged, lost or stolen car keys, and the replacement cost of the car keys may involve thousands of yuan.
Taking into account the needs of car owners, the designated full insurance plan of Ping An Online Car Insurance also comes with extended car key coverage, with a maximum annual compensation of up to HK$8,000 (per insurance period), and it only takes one working day after submitting the quotation. Complete the approval to quickly solve the owner's troubles.
Therefore, the full insurance is better than the three guarantees or can reduce the chance that the car owner needs to take risks. When purchasing a car insurance, the car owner should also consider the damage of the car, the medical expenses of the named driver and other required insurance.
Online insurance is simple and high protection
Ping An Online Auto Insurance of China provides 24-hour online real-time quotation and insurance application, and the insurance application process is simple and convenient.
If you successfully apply for online car insurance, you can apply for a designated fuel discount card for free, and the designated gasoline will be reduced by HK$4.2 per liter.
Regardless of the full warranty or the three-guarantee plan, there are different considerate additional protection plans to choose from, which can reduce maintenance expenses in disguise and help car owners save their wallets!
Go to Ping An Online Insurance's official website (https://www.pingan.com.hk/?lang=tc) to find out the plan that best suits your needs!
Disclaimer: The above information is provided by Ping An Insurance (Hong Kong) Co., Ltd. of China.
Hong Kong 01 Co., Ltd. is not a licensed insurance intermediary, nor is China Ping An Insurance (Hong Kong) Co., Ltd. an insurance intermediary.
This promotional material is for reference only and does not form part of the insurance contract.
For details, please inquire with Ping An Insurance (Hong Kong) Limited of China or check the relevant policy documents (including product brochures and policy terms).