As per the Motor Vehicles Insurance (third Party Risks) Ordinance issued by the Hong Kong SAR Government, a motor vehicles user on the road must insure his / her liability for death or bodily injury of third parties.
Car insurance although required by regulatory laws, also helps in protecting against damages to the car itself. It doesn’t have to be hard.
Three common types of car insurance exist:
- Act Only Insurance – covers only third party bodily injury and death. This is the minimum insurance requirement for any car to be allowed to run on the road
- Third Party Liability Insurance – covers third party property damage in addition to the minimum legal requirements for third party bodily injury and death
- Comprehensive Motor Insurance – covers any accidental loss or damage to the car and all the third party losses