Insurance
Insurance

Top 14 Home Insurance Plans in Hong Kong

Author Bowtie Team
Updated on 2025-06-11

 

Disclaimer: This article is translated with the assistance of AI.

Wondering if home insurance is worth the investment? Discover what it covers, which plans stand out, and compare 14 popular options  – from coverage details and premiums to essential tips and FAQs for savvy homeowners.
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Is Home Insurance Necessary? What Does It Cover?

Home insurance protects the policyholder during the insurance period against losses to property inside the home due to accidents or theft, third-party liability from accidents inside the home, and specified injuries from home accidents. It mainly consists of three parts: 1️⃣ home contents coverage, 2️⃣ third-party liability insurance, and 3️⃣ personal accident coverage. Additionally, some coverages can be optionally purchased.

Home Contents Coverage

Home insurance covers losses to property caused by accidents, such as those from typhoons, lightning, fires, theft, or burst pipes. The coverage includes clothing, footwear, furniture, appliances, renovations, food, and more. Some home insurance policies also provide protection for loss of personal and family documents as well as damage to personal items, with each household item having an individual limit.

Home insurance generally includes coverage for temporary accommodation expenses, which applies when an accident makes your home temporarily uninhabitable, requiring you to move out. Some policies even cover temporary accommodation costs and meal allowances if a No. 8 or above typhoon signal or black rainstorm warning causes water or power outages, or elevator services to be suspended for a specified continuous period.

Third-Party Liability Insurance

Home insurance typically includes third-party liability insurance, which protects the policyholder and family members from compensation claims for injuries or property damage caused to others due to accidents or negligence. For example, if a window falls during a storm and injures a passerby, a burst pipe causes water damage to a neighbor’s ceiling, or a fire spreads to adjacent units resulting in property loss or injuries, these are all covered.

Personal Accident Coverage

Most home insurance plans cover permanent disability or death resulting from accidents inside the property, such as fires or burglaries, though the coverage amounts are generally only in the tens of thousands to a few hundred thousand dollars.

Which Home Insurance is Best? Compare Coverage and Premiums of 14 Popular Plans

Assuming a homeowner is insuring a private housing unit that is 25 years old with a usable area of 499 square feet , here are the details and premiums for 14 popular home insurance plans on the market:

Home Insurance Plan Total Home Contents Coverage Liability Coverage Amount Personal Accident Coverage Amount Maximum Building Age Covered Premium/Year
Zurich

Homechoice Householder – Standard Plan

$750,000 $10,000,000 $100,000 40 years $1,049
Dah Sing Insurance

HomeSure Household Insurance Plan – Premium

$1,200,000 $12,000,000 60 years 👍 $1,280
QBE
Home Plus Protection Package – Premium
$1,000,000 $5,000,000 $100,000 50 years $1,041
Prudential
PRUChoice Home – Home Contents Insurance – Elite Home
$1,500,000 👍 $15,000,000 $200,000 Not specified $1,240
Chubb

MyHomeGuard – Plan B

$500,000 $10,000,000 $300,000 Not specified $1,058
MSIG

iHome Insurance – Plan A

$1,000,000 $8,000,000 $50,000 45 years $1,740
Blue Cross
HomeSafe Protection – Plan B
$750,000 $9,000,000 $400,000 👍 45 years $979
Bank of China Insurance
Premier Home Comprehensive Insurance Plan 3
$1,200,000 $10,000,000 $400,000 👍 40 years $1,424
HSBC Insurance
ResidenceSurance Plan 3
$1,200,000 $20,000,000 👍 50 years $1,850
OneDegree

Home Insurance (Plus)

$1,000,000 $12,000,000 $200,000 50 years $1,294
AXA

AXA SmartHome Plus – Plan B

$1,200,000 $10,000,000 $20,000 – $40,000 per person 40 years $2,104
Allianz

Allianz Home Protect – Gold Plan

$1,000,000 $7,500,000 60 years 👍 $724 👍
FWD

HomeCare Insurance

$750,000 $5,000,000 $400,000 👍 35 years $880
Generali

Home Package Insurance

$1,000,000 $7,500,000 $250,000 40 years $888
  • * The above insurance plans’ coverage amounts and premium information are sourced from the 10Life insurance platform and are for reference only. The premium and coverage amounts for the insurance plans are subject to the latest announcements by the respective insurance companies. Data updated as of September 19, 2024.

Who Should Consider Home Insurance?

Homeowners

Buying home insurance can protect homeowners from losses to items inside the home caused by accidents like fires, flooding, explosions, or theft. Additionally, home insurance often includes third-party liability coverage, which safeguards homeowners against legal responsibilities if an accident occurs in the property or common areas of the building, resulting in injury or damage to others.

Tenants

Tenants should also think about getting home insurance, as some belongings in the home might belong to them personally. In case of an accident, such as a typhoon in the summer or a burst pipe in the middle of the night causing water damage to household items, tenants can claim through home insurance. Furthermore, whether you’re a tenant or a homeowner, if negligence leads to something like a window falling off or an accident inside the unit that injures a third party or damages their property, you could be held legally liable. That’s why tenants might want to get home insurance for that extra peace of mind.

Families with Domestic Helpers

If you employ a domestic helper or household assistant, you should consider home insurance that includes domestic helper coverage. Domestic Helper Insurance covers areas like medical expenses for the domestic helper, their belongings, repatriation costs, and third-party liability insurance, so you can save a bit if an accident happens.

 

How to Get Cheaper Home Insurance Premiums?

If you want to buy home insurance at a more affordable price, you can go through various online platforms, where they often offer different promotions to attract customers. You can also use discount codes to cut down on premiums. Some insurance companies or banks provide discounts for their members when purchasing home insurance, so keep an eye out if you’re looking to save.

6 Key Things to Know About Home Insurance

1. Third-Party Liability is Covered

We’ve all heard stories of pedestrians being hit by falling windows or elevators malfunctioning due to burst pipes—home insurance includes third-party liability, covering lawsuits and medical expenses for injured parties. These accidents can rack up unpredictable costs, but with home insurance, you can protect your wallet from the unexpected. On the flip side, keep in mind that some covered items have limits—for instance, if you have valuable antiques, artwork, or jewelry at home, look for policies that specifically cover those. Generally, home insurance covers common issues like theft, flooding, or fire damage to furniture, clothing, and other possessions.

2. Homeowners and Tenants Should Get It

If a unit suffers from broken windows or flooding due to a typhoon, or any other home accident that leads to third-party claims, who’s responsible? Whether you’re a tenant or homeowner, the unit itself or the belongings inside could be yours, so to avoid shouldering all the losses alone, it’s wise to have home insurance. As a homeowner, make sure to regularly maintain your unit—if the property or insured items are in poor condition and cause an injury, you might not be covered under third-party liability.

When shopping around, pay attention to factors like coverage limits for general and valuable items, the total insured amount, deductibles, and how the insurer calculates their share. For example, with a HK$800 deductible and HK$5,000 in damages, the insurer might only pay HK$4,200.

3. Fire Insurance Differs from Home Insurance

Fire Insurance is mainly related to the structure of the residential building and is only available to homeowners—it’s often required when applying for a mortgage , covering things like fire damage, burst pipes, or storm-related losses to the building structure, such as walls and windows.

So, the key difference is that fire insurance focuses on the building’s structure, while home insurance zeros in on your belongings and contents.

4. Property Size Affects Coverage Amount

You can easily input your property details online to get a quote, such as the desired coverage, building type, whether it’s owner-occupied or rented, year built, and if it includes a rooftop garden. For a typical 2-bedroom unit around 700 to 800 sq ft, premiums usually range from about a thousand to a few thousand HK dollars, depending on your actual coverage needs—the more items and areas you want covered, the higher the cost.

5. Check Specific Risk Policies Carefully

Does a leaking pipe count as covered? Turns out, standard home insurance (or comprehensive policies) typically doesn’t cover issues from aging or natural wear and tear—only explicitly listed causes are included.

On the other hand, specific risk policies only cover the items listed, so if aging pipes cause a leak, that might be included as long as it’s specified.

6. Notify Your Insurer Immediately Before Claiming

Some insurance companies have specific terms or claim requirements, but the most important thing is to document everything right away if an accident occurs—take videos and photos, the more detailed the better, and notify your insurer immediately so they can send someone to investigate.

If your belongings are damaged, the insurer might want them back, so for added protection, keep receipts for major purchases like appliances. If a third party is involved, since the details of the incident, compensation, and any legal issues aren’t clear, it’s best to have them contact the insurer directly rather than handling it yourself impulsively.

Is It Best to Have Health Insurance Alongside Home Insurance?

Home insurance typically only covers personal accidents for permanent disability and death, and with very limited coverage amounts. Therefore, homeowners and tenants absolutely need to consider purchasing health insurance. In case of an unfortunate home accident that requires hospitalization or surgery, you won’t have to pay out of pocket. If you have health insurance*, you can use it to cover medical expenses and reduce your out-of-pocket costs.

  • * Different health insurance plans offer varying covered regions; consumers should refer to the terms and conditions before purchasing and claiming.

Bowtie Pink VHIS Plan offers several key benefits, whether you’re a homeowner or a tenant—Bowtie Pink can be your health safety net:

  • Available for individuals aged 15 days to 80 years
  • Worldwide coverage ^ applies
  • Global emergency support services
  • Full reimbursement 1 for any hospital, any surgery
  • Annual limit: Up to HK$20,000,000 (reset annually)
  • Monthly premiums as low as HK$168 #
  • ^ Excludes hospitals in the US and non-designated hospitals in China; psychiatric treatment is limited to Hong Kong.
  • # Based on a 25-year-old non-smoker subscribing to Bowtie Pink (Ward) with a deductible option of HK$80,000 per month.
  • 1 Full reimbursement means no sub-limits and applies only to specified coverage items. Reimbursement is subject to remaining deductible (if applicable), annual limit, lifetime limit, and other factors including reasonable and customary charges, pre-existing conditions, designated hospitals in mainland China, and related US treatment rules. For full product terms, conditions, risks, and exclusions, please refer to the relevant product website and policy.

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*Full coverage shall mean no itemized benefit sub-limits, and applies to designated benefit items only. The benefit payable shall be subject to the remaining deductible (if applicable), annual benefit limit, lifetime benefit limit and other limitations such as reasonable and customary charges, a pre-existing condition, “List of Designated Hospitals in Mainland China” and receiving medical treatment in the United States. For detailed terms and conditions, product risks, and exclusions, please refer to the relevant product website and policy.
^For example, with Bowtie Pink (Ward) and the deductible option HK$80,000, the monthly premium for a 30-year-old non-smoker is HK$197. The premium comparison above is based on similar medical insurance plans with the ward level (data source on 27, July 2023), HK$50,000 to HK$80,000 deductibles, for a 30-year-old non-smoker. Different medical insurance plans have different coverage and benefit limits. For details, please refer to the relevant insurance policy and its terms and conditions.

FAQs

How much does home insurance typically cost?

Home insurance premiums depend on factors like property type, age of the building, and property size. For example, for a private building with a usable area of 499 square feet and 25 years old, premiums range from around HK$700 to HK$2,000. However, Hong Kong has various property types, including standalone villas, village houses, and tenement buildings, so premiums and coverage may vary. This is for reference only.

What information is needed when applying for home insurance?

When applying for home insurance, you generally need to provide details such as unit size, building age, property type, and property use.

What’s the difference between home insurance and fire insurance?

Basic home insurance generally doesn’t cover damage to the building structure or shell, such as wind or rain damage to original doors, windows, floors, or walls. If you want coverage for the building structure like ceilings and walls, homeowners should add building structure insurance (fire insurance). In fact, banks often require fire insurance for properties with mortgages.

Are there any exclusions in home insurance?

Common exclusions in home insurance include damage from natural wear and tear, such as corrosion, aging of walls, ceilings, floors, window frames, or sealant leading to leaks, or water damage to belongings. On the other hand, if a storm breaks a window and causes rain damage to furniture or appliances, you can claim compensation. Additionally, units vacant for over 30 days are not covered.

What should I watch out for when making a claim?

When making a claim, you need to provide proof of the items, so keep purchase receipts and photos of the items to support your claim and minimize disputes.

Can old properties be insured?

Generally, properties under 40 years old can be insured. However, some insurers accept properties up to 60 years old. Insurers will consider the property’s location; for example, properties in Taikoo Shing are more likely to be covered than those in older districts like To Kwa Wan or Sham Shui Po. Factors like property management and regular maintenance also affect insurability. Even if an older property is insurable, insurers might add conditions, such as higher premiums or deductibles.

 

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