It boosts home contents coverage up to HK$2m.
AXA Hong Kong and HSBC have jointly launched a new home insurance product with six plan options that will entail tailor-made protection, a statement read.
ResidenceSurance boosts home contents coverage up to HK$2m and personal liability up to HK$20m. It also provides a 24-hour home assistance service hotline for cashless emergency inspection service.
Premium will be based on the size of the dwelling. For a unit of 375 sq.ft or below, the monthly premium can be as low as HK$60 for owners and tenants, and HK$47 for landlords.
In addition, the plan provides coverage for loss of rent of up to HK$75,000 if the premises are rendered uninhabitable, or for rental default up to HK$25,000 per month if a tenant fails to pay the outstanding rent under the tenancy agreement within one month after a court judgment is obtained.
It also covers furniture, electrical appliances and the fixtures and fittings installed by the landlord, property developer or previous property owner in the rental unit.
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