Fire Insurance
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Fire Insurance

How do I determine the Sum Insured for my policy?

You can choose one of the following to be your policy's Sum Insured: 1) Your original mortgage loan value; 2) the cost of your property reinstatement; 3) your current mortgage loan value. If you choose your Sum Insured to be the cost of rebuilding your property, a property valuation must be conducted annually and the Sum Insured may change year to year depending on the valuation. Many homeowners choose a Sum Insured equal to their current mortgage loan value. However, a mortgage loan's value drops over time, which means the Sum Insured will also decrease. If you have any doubt, you may check with your mortgage bank for the exact Sum Insured required.

Do all banks in Hong Kong accept OneDegree Fire Insurance?

A number of HSBC, Bank of China, Standard Chartered, The Bank of East Asia, Hang Seng, Fubon and China Construction Bank mortgage customers have successfully switched their fire insurance coverage to OneDegree. We are actively expanding our bank network. If you're interested in OneDegree Fire Insurance, but your mortgage lender is not one of the banks mentioned above, please leave us your contact info here and we'll get in touch if we can cover your property.

Can I choose the effective date for my policy?

The default policy start date is set to be 28 days after your purchase. If you would like a specific policy start date, please email us at and advise on the desired policy start date.

How much does a fire insurance policy cost?

Annual policy premiums range from 0.03% to 0.15% of your Sum Insured, depending on your insurer's terms. For example, for a policy with HKD 6,000,000 Sum Insured, you may pay between HKD 1,800 and HKD 9,000 each year. OneDegree offers a Best Price Guarantee on our 0.03% premium rate.  If you find a better rate elsewhere, we’ll match it! Get a quote for your property here.

What is the minimum and maximum Sum Insured?

We accept Sum Insured from HKD 500,000 to HKD 50,000,000. Please refer to this FAQ for more on Sum Insured: How do I determine the Sum Insured for my policy?

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