Car owners have confessed of being very protective and attached to their car, and inevitably make sure that they take good care of it. However, given the condition of dense and unruly traffic, car accidents are quite common. Your car is also vulnerable to threats like theft, fire, vandalism, etc. A comprehensive car insurance policy is a must-have to protect your car from all these possible dangers.
Overview of HSBC Car Insurance
One of the world’s largest financial and banking services organisations, HSBC is the most trusted banker of around 51 million loyal customers. It has a global presence in Commercial Banking, Retail Banking and Wealth Management, Global Private Banking and Global Banking and Markets. HSBC boasts of a wide network covering 73 countries in the world. The bank’s stocks are listed on New York, London, Paris, Hong Kong and Bermuda stock exchanges.
HSBC provides an all-encompassing car insurance policy which covers your car against various risks and damages. HSBC’s ‘SmartDrive’ is an innovative car insurance plan and has been especially designed keeping in mind the varied needs of every individual customer.
Features and Benefits of HSBC Car Insurance
- The coverage is based on the market value of the insured car instead of the sum insured. In case of theft or severe damage, the total market value of the car will be reimbursed.
- The SmartDrive car insurance policy protects your car from the following -
- Loss/damage caused due to natural calamities like earthquakes, floods, hurricanes, volcanoes, typhoons, etc.
- Loss/damage due to man-made causes/anti-social activities like riots, civil commotion, strikes, etc.
- Loss/damage caused to your car due to an accident.
- The insured car gets to enjoy an additional windscreen cover without any extra cost.
- The policy protects your car against passenger risk and liability.
- The main insured is covered against personal accidents.
- Any third party liability like legal service, property damage or bodily injury is covered.
- Policyholders get to enjoy 24X7 assistance provided by SmartDrive. This service is available throughout Singapore, peninsular Thailand and West Malaysia. If you pay a nominal premium, the company provides you with an option of enhancing your cover with a choice of preferential options.
Applicable only for ‘Comprehensive Cover’, HSBC car insurance policy also provides some optional benefits. By paying a nominal premium, you can enhance your cover with a choice of preferential options like –
- Up to $20,000 of personal accident cover for the passengers of the insured car.
- Up to $20,000 of personal accident cover for the main policyholder and named/paid drivers and attendant.
- Declared car accessories for protection of NCD.
- Premium discount can be enjoyed by paying a voluntary excess.
Exclusive Benefits (in S$) of Features and Benefits of HSBC Car Insurance
- Repatriation cost to Singapore for both the car and the passengers, while driving in peninsular Thailand and West Malaysia.
- A maximum of $3000 cover for damage or theft of personal belongings and accessories inside the car, as a result of an accident in Singapore.
- Accident towing service available 24 hours, for free.
- A reduction of $2500 on undeclared inexperienced and young drivers excess.
- Up to $30,000 of enhanced personal accident cover for the insured.
- A warranty of 9 months is provided on repairs.
Compare HSBC Car Insurance With Other Insurance Companies Offering Car Insurance in Singapore
- Tokio Marine Motor Insurance
- NTUC Motor Insurance
- NTUC Car Insurance
- Tenet Car Insurance
- AVIVA Car Insurance
- AXA Car Insurance
- AIG Motor Insurance
- AIG Commercial Motor Insurance
- Liberty Vehicle Insurance
- ETIQA Motor Insurance
Frequently Asked Questions (FAQs) - HSBC Car Insurance
- How can I apply for HSBC SmartDrive car insurance policy?
To apply for SmartDrive car insurance policy, please download the application form from HSBC’s official website. Once duly filled, send the form to the postal address provided on it.
- How do I avail the optional and exclusive benefits provided on HSBC car insurance policy?
You need to pay a nominal amount of premium to enjoy some enhanced benefits over and above the ones offered by the regular policy. You can choose the benefits from a range of options provided.
- Does the SmartDrive policy cover my car against natural calamities?
Yes, SmartDrive covers your car against loss or damages caused by a host of natural calamities like earthquakes, floods, hurricanes, volcanoes, typhoons, etc. Loss/damages caused due to man-made or anti-social activities like riots, civil commotion, strikes, etc. are also covered.
- For HSBC car insurance policy, what is the value of the coverage based on?
The coverage provided by HSBC car insurance policy is based on the market value of the insured car, and not on the sum insured. In case of theft and severe damages, the total market value of the car will be reimbursed.
- As a policyholder of HSBC car insurance policy, do I get access to any assistance or help service provided by the company?
Yes, you get to enjoy 24X7 assistance provided by SmartDrive. This service is available throughout Singapore, peninsular Thailand and West Malaysia. If you pay a nominal premium, the company provides you with an option of enhancing your cover with a choice of preferential options.