HSBC Advance products
Home Contents Insurance
Home Contents Insurance protects the contents of your home, garage, and other buildings on your property from damage caused by perils such as fire, windstorm, hurricanes, earthquakes, lightning, storms, floods, theft and vandalism.
- Flexible payment options as premiums can be paid annually or by monthly interest free payments.
- It protects your contents of your home against damages caused by perils such as windstorm, earthquakes, lightning storms, floods.
- Alternative rental accommodation if your home is made uninhabitable as a result of an insured peril.
Who is this policy for?
- Customers of HSBC Bank (Cayman) Limited who own free-standing residential properties
- Condominiums owners
- Tenants wishing to insure their own belongings
Coverage Features
- Accidental breakage to fixed glass and fittings
- Credit card loss
- Domestic pets inside home
- Accidental loss or damage to sports equipment
- Damage by subsidence and landslip
- Occupier Liability cover*
- Tenant Liability*
- Fatal accidents
- Door lock replacement cost
- Food in freezer
- Property outside the home within premises
- Contents temporarily removed from the home
- Accidental damage to TV, audio, video and computer equipment
- Alternative accommodations for renters
- Personal money inside home
*Occupier Liability: Accidents can easily happen, especially to guests in your home. This policy covers your liability as the occupier of the home for events such as these when there is negligence involved.
* Tenants Liability: If you rent your home, there is up to a defined limit in cover for your liability as the Tenant, for damages to your Landlord's property due to your negligence.
Added Coverage
An additional feature of Home Contents Insurance is the 'All Risk' coverage feature which protects valuables frequently removed from homes (ie. jewelry, wristwatches, cameras or laptop computers). Items can be covered while in Cayman or traveling overseas. This coverage cannot be purchased as a separate policy. You must purchase this with the Home Contents Insurance policy as an optional cover.
Premium
Your insurance premium is based on the total estimated replacement value of all of the home contents and valuables.
Benefits
The peace of mind which comes from knowing you hold an insurance policy to protect the valuable contents in your home.
Frequently Asked Questions
Can I purchase insurance only for the most expensive items in my home?
No, you cannot purchase Home Contents Insurance for the most expensive items in the home. It is necessary to purchase adequate insurance that will cover the replacement value of all of the items in the home to avoid being under insured at the time of a claim. The minimum value recommended for home contents coverage is USD$50,000.
Do I need to provide receipts for all of the items that I would like to insure?
You do not need to provide receipts for all of the items you would like to insure. For 'All Risk' items (i.e. rings, other jewelry, camera equipment etc.), a receipt or recent appraisal will be required for items over USD$1,000 at the time of purchasing the insurance coverage. For all other personal possessions it is recommended you have an inventory list of your contents - including items such as pictures - since this will assist in settling a claim in a more efficient manner.
Can I use the proceeds from a claim to purchase new furniture?
The terms of this policy will provide 'new for old'. This means payment will be made to the policy holder but only for the equivalent cost of the same like, kind and quality of the object that was lost or destroyed. If the policy holder chooses to purchase a more expensive item they will be required to pay the difference in the cost.
Do I need to provide proof of theft or accidental damage when making a claim?
In the case of a burglary or forced entry at your residence, a police report should be submitted with the insurance claim and proof of purchase whenever possible.
Will I have to include new items in the policy if I purchase new furniture?
Yes, if you dramatically increase the cost of your home contents (15% or more) you should notify BF&M General Insurance Company Limited of the additional purchases so the policy can be amended to include the new items.
Can I include clothing and other small items in Home Contents Insurance?
Yes, apparel and other personal effects can be included in Home Contents Insurance.
Is my home covered while I'm away on holiday?
Yes, your home is protected while you are overseas however, the home can not be left unoccupied for more than 42 consecutive days.
Are furniture items in a rental unit covered under this policy?
Yes, furniture remaining in a rental unit that is supplied by the landlord can be included on this Contents policy. A tenant will need to cover their own personal items in a separate insurance policy.
Does my insurance provide coverage for visitor's possessions?
No, this insurance policy protects items that are the responsibility of the insured. Items which are contained in the residence and belong to the insured are covered under this policy.
How do I make a claim?
Claims can be submitted to JEC Property Consultants Ltd.:
24/7 Claims Line: +1 345 945 4400
This information is intended to be a summary of the policy cover provided to us by BF&M General Insurance Company Limited in our capacity as an insurance agent of BF&M General Insurance Company Limited. For complete details of the policy cover, terms and conditions please call on +1 345 949 9555.
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