Commercial Motor Vehicle Insurance includes ‘Third Party Liability cover’ and ‘Comprehensive Cover’.
‘Third Party Liability Cover’
During the insurance period, in connection with the use of the vehicle, it provides protection to the driver against:
- Legal liability for causing death or bodily injury of third parties, including the liability to passengers in the vehicle, up to HK$100 Million.
- Legal liability for causing property damage of third parties, including third-party vehicles and property, up to HK$1 Million.
‘Comprehensive Cover’
- During the insurance period, in addition to the cover under ‘Third Party Liability Cover’, it provides indemnity to the Insured against damage &/or loss of the vehicle &/or its accessories or spare parts, due to accidents.
Additional Equipments
Tailgate Cover could be extended in the Policy to cover for damage to &/or loss of the Tailgate, and the Third Party Liability resulting from the use of the Tailgate.
Geographical Limit
The geographical limit is generally within the territory of the HKSAR. However, on request, and with the payment of additional premium, the vehicle damage cover could be extended to include Guangdong Province, PRC.
No Claim Discount / Bonus (NCD/NCB)
During the insurance period, if there are no claims submitted, there will be the following discounts allowed upon renewal:
| Period of Insurance | No Claim Bonus |
|---|---|
| 1 | 20% |
| 2 | 30% |
| 3 | 40% |
| 4 | 50% |
| 5 | 60% |
