Author Bowtie Team
Updated on 2025-06-13
Disclaimer: This article is translated with the assistance of AI.
The Bowtie team has noticed buzzing discussions on LIHKG about the best accident insurance options, including queries on accident coverage and our Touch Wood Protector. We’ve compiled 5 popular questions to help you navigate and secure the right protection effortlessly!
Question 1: What is Accident Insurance?
Accident Insurance generally provides the following coverage to alleviate financial pressure when an unfortunate accident occurs:
- A lump-sum compensation for accidental death or disability.
- A weekly fixed allowance during the period of inability to work due to accidental injury (limited by the policy’s specified duration).
- Reimbursement of actual medical expenses incurred due to an accident.
Policies usually include a compensation table that outlines the corresponding payouts for various types of bodily injuries caused by accidents. If you’re the breadwinner in your family, you might want to consider getting accident insurance. However, different products vary in their coverage scope and compensation limits, so remember to choose one that suits your needs.
Touch Wood Protector focuses on providing actual reimbursement for medical expenses caused by accidents , such as Western outpatient services (e.g., wound cleaning, stitches), physiotherapy, chiropractic, traditional Chinese bone-setting , specified diagnostic imaging tests (such as CT scans, MRI scans, PET scans, etc.) , hospitalization, and surgical treatments.
Question 2: Do I Need Accident Insurance Only if I Work in a High-Risk Industry?
Of course not—so-called accidents are “unforeseen,” risks that no one can accurately predict.
Even if you’re not in a high-risk profession, everyday life comes with all sorts of risks. For instance, as a pedestrian or passenger, you could get involved in a traffic accident ; even without major incidents, activities like running, hiking, or playing sports could lead to injuries; and if you’re not into exercise, you might still twist an ankle while walking and sprain something . Accident Insurance is exactly there to help manage these big and small risks.
If you work in a high-risk occupation, your chances of getting injured on the job are higher, making it even more important to secure adequate coverage as soon as possible.
Folks in high-risk industries might face loading adjustments or even get denied for traditional accident insurance; in contrast, Touch Wood Protector covers over 700 occupations, such as disciplinary forces, professional drivers, delivery riders, and sports coaches , and even includes medical expenses from accidents during work.
Question 3: Does Accident Insurance Cover Both Outpatient and Inpatient?
It depends on the product. For example, with Touch Wood Protector , the annual medical coverage reaches HK$420,000, covering outpatient services (like wound cleaning, suturing, etc.), physiotherapy, chiropractic, traditional Chinese bone-setting, MRI scans, inpatient treatment, surgery, and more, for both major and minor incidents.
It’s important to note that Touch Wood Protector has compensation limits for each coverage item. For physiotherapy, chiropractic, and traditional Chinese bone-setting, which are commonly of interest to policyholders, the annual compensation caps are as follows:
- For each bone fracture accident: 6 consultations; $500 per visit; 1 visit per day.
- For each non-bone fracture accident: 4 consultations; $250 per visit; 1 visit per day.
- Total of 8 consultations per policy year.
Question 4: Is Unlimited Amount and Unlimited Times Always Better?
We understand and agree that physiotherapy and X-ray examinations are common checks and treatments that should indeed be included in accident insurance coverage—and they are part of Touch Wood Protector .
But is it really ideal to have no claim limits for individual coverage items, only restricting by the annual coverage amount?
In reality, setting claim limits for individual coverage items has a similar purpose to establishing co-insurance —it’s aimed at reducing the chances of policy abuse and keeping the risk pool healthier in the long run, which helps ease pressure on premium increases.
Just think about it—if accident insurance had no limits for individual items, the total number of claims and amounts would likely rise, eventually forcing premiums to go up.
Question 5: Is Making Claims Difficult?
Actually, accident insurance claims aren’t difficult. For instance, with Bowtie, our claims process is straightforward and can be completed in just a few steps.
Claims Steps
- Prepare supporting documents (see below)
- Log in to your Bowtie account to apply for a claim
- Answer a few questions about this checkup/treatment
- Submit your bank details
- Upload the required documents
- Wait for approval
- Receive compensation
What documents/receipts are needed?
To make a claim, you generally need to submit the following documents to the insurance company:
- Medical Claim Application Form
- Original hospital/clinic receipts
- Surgery/pathology lab reports (if applicable)
- Details of compensation from other insurance companies (if applicable)
- Referral letter from the attending doctor (if applicable)
If you’re claiming from more than one insurance company, in addition to the above documents, you need to submit the compensation details and original medical receipts (or verified copies) from the first insurance company to the second one for review.
How long does it take to get compensation after applying?
The time for each claim depends on the case complexity, with about 80%* of cases approved within 10 working days; the compensation amount will be transferred to your specified bank account within 3 working days after successful approval.
* Data as of October 2021.
If you encounter any difficulties during the claims application, Bowtie Claims Team is more than happy to assist.
How Much Does Bowtie Touch Wood Protector Cost?
Want to know how much you need to pay for accident insurance? Use the premium calculator right away to calculate your monthly premium!
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