• Plan A-Fire Insurance
• Plan B-Fire Insurance and additional coverage
• Major Exclusion
• Premium
• Coverage

 

Plan A - Fire Insurance

Protect your property at the insured location against fire, lighting, and explosion of boilers or gas used for domestic purposes only.

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Plan B - Fire Insurance and additional coverage

In addition to the coverage provided fire insurance (Plan A). Coverage extends to the loss of or damage to your property arising from aircraft, bush fire , earthquake, vehicle impact, riot and strike, malicious damage, sprinkler leakage, typhoon, windstorm and flood, bursting or overflowing of water tanks, apparatus or pipes.

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Major Exclusion

Cash, jewelry, stamp, cheque, work of arts, manuscript, computer system records and book of accounts etc.

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Premium

Premium rate is based on nature, type of usage and location of insured property.

Insurance Authority Premium Levy

Pursuant to the Insurance (Levy) Order and Insurance (Levy) Regulation, Insurance Companies will collect IA Premium Levy on insurance premiums from your insurance policies effecting from 1-Jan-2020 onwards. This is the legal obligation of policyholders to pay a levy when premium is paid. The levy will be collected by Insurance Companies and then remit to Insurance Authority as required by the law.

Details of levy can be referred to table below. For further information, please visit Insurance Authority Official Web https://www.ia.org.hk/.

Policy Inception Date and/or Annual Anniversary Date	Applicable Levy Rate	Cap Per General Insurance Policy Per Policy Year (HK$)
From 1 Apr 2019 till 31 March 2020 (both dates inclusive)	0.06%	3,000
From 1 Apr 2020 till 31 March 2021 (both dates inclusive)	0.085%	4,250
From 1 Apr 2021 onwards (date inclusive)	0.10%	5,000

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Coverage

The plan accepts the property to be insured as follow:

• Building structure but excluding drains and foundation
• Fixture, fittings and furniture
• Machinery, plant and equipment (excluding moulds of any kind)
• Stock and materials in trade (including finished and semi-finished goods)

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Governing Law of Policy: Hong Kong Special Administrative Law

For enquiries, please visit any of our outlets or call our customer service hotline.

Note:

1. The above information is supplied by China BOCOM Insurance Co., Ltd. and is for reference only. Please refer to the full wording of the policy provisions published by China BOCOM Insurance Co., Ltd. for detailed terms & conditions and exclusions.
2. The insurance plan is underwritten by China BOCOM Insurance Co., Ltd. which is authorized by the Insurance Authority to provide general insurance business. Bank of Communications (Hong Kong) Limited is an appointed insurance agent of China BOCOM Insurance Co., Ltd.

 

Important Notice:
The insurance plan is a product of China BOCOM Insurance Co., Ltd. but not Bank of Communications (Hong Kong) Limited (the “Bank”). 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) arising between the Bank and the customer out of the selling process or processing of the related transaction, the Bank is required to enter into a Financial Dispute Resolution Scheme process with the customer; however any dispute over the contractual terms of the product should be resolved between directly China BOCOM Insurance Co., Ltd. and the customer.