| 1. |
How do I change the information
in the policy and what are the procedures? |
| |
For any change of the information relating to
the structure of a building or its occupation,
the name of the insured, and the mortgage bank,
you may call at any branch of Hang Seng Bank to
fill in a 'change of policy application form'
or notify the fire insurance department of "Hang Seng General Insurance" in writing. |
| 2. |
Are items like jewelry ornaments and art works
covered by the general fire insurance policy? |
| |
Unless prior consent has been given by the insurer,
general fire insurance policy does not cover items
like jewelry ornaments, art works, scripts, documentary
information, computer system information, shares
and stocks, cash. |
| 3. |
Is the higher the amount insured, the higher
the compensation will be? |
| |
No. Upon applying fire insurance policy, the
current market value of the properties should
be accurately calculated for arriving at an adequate
amount to be insured. The compensation payable
after the fire outbreak shall be based on the
current market value of the properties at the
time of the outbreak, including depreciation,
if any. If the amount insured is excessive, it
will mean overpayment of unnecessary premium;
if the amount insured is inadequate, the customer
will only receive compensation based on the proportion
between the insured amount and the aggregate value
of the properties. |
| 4. |
What is the coverage of fire insurance? |
| |
The coverage of the "Fire Protection Plan"
is extensive and includes generally fire outbreak,
lightning and the loss and damage resulted from
extinguishing the fire. Besides, other extra perils
for additional risks such as typhoon, flood and
outburst of water pipes can also be covered. |
| 5. |
How do I apply for a fire insurance policy? |
| |
The procedures are simple; you only need to
fill in an application form and mail or return
it to any branch of Hang Seng Bank for handling. |
| 6. |
How is the premium fixed? |
| |
The fixing of premium is based on
- the type and use of the property;
- the area of the property;
- the location and surrounding environment of
the property;
- the current value of the asset; and
- whether other additional protections have been
insured. |