AXA Hong Kong has partnered with HSBC to launch a new insurance plan for homeowners in Hong Kong, where property prices are said to be relatively high.
Dubbed ‘ResidenceSurance’, this new insurance plan is said to offer a range of six different home protection plans for customers.
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These include home contents coverage up to HK$2m and personal liability up to HK$20m. Additionally, policyholders will be offered a 24-hour home assistance service hotline for cashless emergency inspection service.
ResidenceSurance also offers coverage for household contents, including furniture, electrical appliances and personal belongings, such as jewellery and laptop computers, even when it is taken outside of the house.
It also offers protection for rental income by extending coverage for loss of rent up to HK$75,000 if the premises are uninhabitable due to accidental loss of or damage to household contents.
The premium of the new insurance is based on the size of the home, noted the company.
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By GlobalDataThe monthly premium for a unit of 375 sq.ft or below is said to be HK$60 for owners and tenants, and HK$47 for landlords.
AXA Hong Kong and Macau P&C Distribution director Kenneth Lai said: “Having a safe and comfortable home is important to many people. With working from home becoming a new norm under the pandemic, people tend to spend more time at home, giving our home the right protection is even more important.
“We will continue to educate the public on the importance of home insurance, and we are very pleased to offer customer-centric home insurance solutions like ResidenceSurance with HSBC to help customers better protect themselves and their valuables.”
HSBC Insurance (Asia) head of General Insurance and Strategic Partnership Business Keanu Liu added: “The ResidenceSurance plan comes with great flexibility and market leading features at an affordable level to cater to the diverse needs of their individual home identity. This is part of HSBC’s ongoing effort to help customers look after their overall wellbeing and stay protected in the current difficult times.”
In September this year, AXA Hong Kong rolled out a new ‘MultiPro Critical Illness Protection’ series to offer affordable extension to customers to upgrade their current protection with multiple claims benefits.
