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Shanghai Commercial Bank Private Car Insurance Plan

Our Private Car Insurance Plan protects the Insured against legal liability of bodily injury/death and property damage to third parties, so you can enjoy driving even more. We also offer the option of a Comprehensive Policy that provides even more additional protections, including 24-hour emergency roadside repair service and towing service.

Product Highlights

  • No Claim Discount Protection
    This protection exempts the deduction of the No Claim Discount (NCD) due to a minor claim. If the total claim incurred during the period of insurance does not exceed HK$50,000, the NCD will not be deducted upon the renewal of the policy.
  • New For Old Replacement Car
    In the event of the private car sustaining a total loss due to an accident or theft, the insurer will replace it by the same make and model without deducting any depreciation provided that the accident occurs within one year from the date of manufacture of the car and the Insured is its first registered owner.
  • Personal Accident and Medical Expenses Protection to Insured and Named Driver
    The Insured as well as the Named Driver of the private car can enjoy Personal Accident and Medical Expenses Protection free of charge, for a maximum amount of HK$100,000 and HK$5,000 respectively.
  • Windscreen Protection
    With respect to loss or damage to the front windscreen where the repair cost does not exceed HK$4,000, no policy excess will be deducted from the claim amount payable and the NCD will not be deducted upon policy renewal.
  • 24-Hour Emergency Roadside Repair Service
    If the private car breaks down mechanically or is immobilized due to an accident, the insurer will provide emergency roadside repair service subject to a maximum amount of HK$2,000 per case.
  • 24-Hour Emergency Towing Service
    If the private car breaks down mechanically or is immobilized due to an accident and is beyond repair at roadside, the insurer will provide emergency towing service subject to a maximum amount of HK$2,000 per case.
  • Temporary Use of Vehicle
    If the private car is stolen and is not found within 48 hours, or is immobilized due to an accident and requires more than 48 hours to repair, the plan will pay an allowance for a rental car subject to a maximum amount of HK$4,000 each case.
  • Claims Recovery Service
    We will assist in pursuing recovery against a liable third party for the loss sustained by the Insured, including the policy excesses. If successful, we will reinstate the NCD for the Insured.
  • 24-Hour Legal Information Enquiry Service
    We provide a 24-hour enquiry service, providing over-the-phone any general information on the Road Traffic Ordinance of Hong Kong.
  • 24-Hour Claim Enquiry Service
    A 24-hour claim enquiry service hotline is available to provide advice on claim procedures.

Coverage

 
Coverage Limit of Indemnity ( HK$) Comprehensive Coverage Third Party Coverage
1. Damage/Theft to the Insured Vehicle Sum Insured
2. Legal Liability to third party property damage
    Legal Liability to third party bodily injury and death
2,000,000 per event
100,000,000 per event
3. No Claim Discount Protection Annual Claim Incurred less than 50,000
4. New for Old Car Replacement Sum Insured
5. Personal Accident and Medical Expenses to the Insured and the Named Driver Personal Accident 100,000
Medical Expenses 5,000
6. Windscreen Protection 4,000 each claim
7. 24-hour Emergency Roadside Repair Service 2,000 per case
(Referral Only)
8. 24-hour Emergency Towing Service 2,000 per case
(Referral Only)
9. Temporary Use of Car 4,000 each claim
(Referral Only)
10. Claims (including Policy Excesses) Recovery Service -
11. 24-hour Legal Information Enquiry -
12. 24-hour Claim Enquiry Service -

Remarks: Comprehensive Coverage Policy holders are entitled to all of the above benefits, while Third Party Coverage Policy holders are entitled to benefits under Items 2, 11 and 12 above only.

 

Premium Table

The annual premium of the SCB Private Car Insurance Plan is charged mainly in accordance with the make, model, and year of manufacture of the vehicle as well as the occupation, age and driving experience of its usual drivers. Please contact us for a quotation.

 

Major Exclusions

  • Consequential loss;
  • Depreciation, wear and tear;
  • Accident involving damage to tire(s) only;
  • Accident outside the Geographical Area stipulated in the policy;
  • Usage not in accordance with the Limitations As to Use under the policy;
  • War, civil war;
  • Ionizing radiation or contamination by radioactivity from any nuclear fuel;
  • Driving under the influence of drink or drugs;
  • Terrorism.
 

Excesses

The excesses of the SCB Private Car Insurance Plan are applied mainly in accordance with the make, model, and year of manufacture of the vehicle as well as the occupation, age and driving experience of its usual drivers. The amounts of the excesses will be provided together with the premium quotation.

 

Q&A

What coverage is available under a Private Car Insurance Plan?

A Private Car Insurance Plan offers two options of policies, Comprehensive Coverage and Third Party Coverage. Third Party Coverage protects the owner and the driver of the vehicle against their legal liability arising from third party bodily injury and property damage. Comprehensive Coverage, in addition to third party liability, also pays for the vehicle's repairs if it sustains damage due to an accident. If the vehicle is stolen, it will also pay according to the market price of the vehicle.

If the private car is bought under a hire-purchase agreement, is it compulsory to take out a Comprehensive Coverage policy?

Under most circumstances, if the car is subject to a hire-purchase arrangement, the finance company involved will require the car to be covered by a Comprehensive Coverage policy.

How many drivers can be named in a Comprehensive Coverage policy?

Two drivers can be named in a Comprehensive Coverage policy free of charge. If there are more than two "named drivers", the Insurer will charge an additional premium.

What factors will be considered by the insurer in determining the private car premium?

The premium is determined based on some factors, like the nature of the coverage (Comprehensive or Third Party), particulars of the vehicle (make, model, year of manufacture and cubic capacity) and the particulars of its usual driver (age, driving experience, occupation and previous driving records).

How does the No Claim Discount operate?

If it is the first time for the Insured to arrange a private car policy and there is no claim in the first policy year, he/she will be entitled to a 20% premium discount (No Claim Discount) upon renewal in the subsequent year. A further 10% discount will be given each year upon renewal if no claim is recorded throughout the entire policy year. The maximum accumulated No Claim Discount is 60%.

What should I do if I need a private car premium quotation?

Please contact us and provide the required information to get a premium quotation.

Tips for Filing a Claim

Please note the following and submit the required supporting documents when filing a claim:

  1. Damage to the insured vehicle
    • Complete and return the Claim Form as soon as possible with details of the incident and the police file reference number
    • Provide the vehicle repair quotation
    • Provide a copy of the driver's HKID Card of the Insured Vehicle
    • Provide a copy of the driver's Driving License of the Insured Vehicle
    • Provide a copy of the Vehicle Registration Document (both sides)
    • Provide a copy of police statement (if taken)
  2. Damage to a third party vehicle
    • Complete and return the Claim Form as soon as possible with details of the accident and the registration number(s) of the other vehicle(s) involved in the accident. Please describe the extent of damage sustained by the other vehicle(s) and provide us with the police file reference number
    • Provide a copy of the driver's HKID Card of the Insured Vehicle
    • Provide a copy of the driver's Driving License of the Insured Vehicle
    • Provide a copy of the Vehicle Registration Document (both sides)
    • Provide a copy of police statement (if taken)
    • Please record the name(s) and contact telephone number(s) of the injured person(s), if any
    • Do not admit any liability or offer a settlement, no matter who is liable
    • Upon the receipt of any claim letters or legal documents, immediately pass them to us for handling
 

Claims Service Hotline
(852) 2290 3560

 

Note:

  1. The above information is for reference only, shall not be construed as an offer to sell or a solicitation of an offer or recommendation to purchase or sale or provision of any products of Paofoong Insurance Company (Hong Kong) Limited (“Paofoong Insurance”) and will not constitute any part of the insurance policy document. Please refer to the policy document and provision issued by Paofoong Insurance for detailed terms and conditions, scope of coverage, exclusions, policy costs and premium of this insurance plan.
  2. The above insurance plan is underwritten by Paofoong Insurance, which is authorised and regulated by the Insurance Authority of the HKSAR.
  3. Paofoong Insurance is a subsidiary of Shanghai Commercial Bank Limited ("the Bank").
  4. The Bank is an appointed insurance agent of Paofoong Insurance.
  5. In respect of an eligible dispute (as defined in the Terms of Reference for the Financial Dispute Resolution Centre in relation to the Financial Dispute Resolution Scheme) between the Bank and the customer arising out of the selling process or processing of the related transaction, the Bank will enter into a Financial Dispute Resolution Scheme process with the customer; however any dispute over the contractual terms of the product shall be resolved directly between the customer and Paofoong Insurance.
  6. For enquiries about the online application and product information, please contact Paofoong Insurance. Your valuable comments shall be seriously considered. If you have any suggestions or complaints, please submit to Paofoong Insurance via the following means :
    - By post to Paofoong Insurance Company (Hong Kong) Limited, 28/F, Two Landmark East, 100 How Ming Street, Kwun Tong, Kowloon, Hong Kong
    - By phone to (852) 2290 3580
    - By fax to (852) 2626 0704
    An acknowledgement shall be issued by Paofoong Insurance within 3 working days upon the receipt of the complaint. A reply shall be delivered within 14 working days. All information will be treated as strictly confidential.
  7. In case of any discrepancy between the English and Chinese versions of the above information, the English version shall prevail.
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