Policy Management
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Policy Management

How would you handle my Fire policy after a successful submission?

We will work through the following procedures after receiving your application: ⠀⠀ ⠀⠀⠀⠀⠀ Firstly, we will examine if the submitted details correspond to the uploaded documents. ⠀⠀ ⠀⠀⠀⠀⠀ Should there be an information discrepancy or require further confirmation, our team will contact you through email, you may refer to: Why would I receive policy suspension notice after fire policy purchase? ⠀⠀ ⠀⠀⠀⠀⠀ If the information is verified, we will deliver your policy document by courier to your mortgage bank within 7 working days for their assessment, the electronic version of the policy will also be sent to you through email. ⠀⠀ ⠀⠀⠀⠀⠀ ** Due to privacy reasons, banks will not disclose clients’ details including but not limited to the fire policy assessment results, the current mortgage loan value, the required sum insured, etc... to any third parties. If you have any questions regarding the assessment status of your policy, you may contact your mortgagee a few days later upon receiving the electronic version of the policy. ⠀⠀ ⠀⠀⠀⠀⠀ For the same reasons, we are not able to inquire about the existing Fire policy with the mortgage banks or other insurers on behalf of our customers. If you need to inquire about or cancel your existing fire policy, please contact them directly. ⠀⠀ ⠀⠀⠀⠀⠀ The requirement for the sum insured varies among every mortgage bank, customers are encouraged to confirm the exact sum insured required with their mortgagee before the application. That way, it can save your time and avoid delayed assessment. The assessment of the policy shall be subjected to the decisions of the mortgage bank, which shall be final and binding.

Why would I receive policy suspension notice after fire policy purchase?

After the applicant has purchased or submitted the renewal application for the Fire insurance, according to the situations below, we will contact the applicant through email to further confirm whether the sum insured fulfills the requirement of the mortgage bank or not. This is to avoid unnecessary delay during the assessment of the mortgage bank if the sum insured is not accepted by which.   Situation 1 The most updated sum insured amount is not clearly indicated on the document uploaded during the application   Situation 2 Discrepancy of the sum insured between the submitted and indicated amount on the uploaded document during the application   Situation 3 No submission of relevant documents for the insured property during the application   Situation 4 You decreased the sum insured amount on your own during the policy renewal   If you receive such notification, please simply respond to us by referring to the email guidance. We will then follow up on your application accordingly.

Can I cancel my pet policy?

Yes. You can cancel your pet policy as long as no claims have been paid during the current policy period. If a policy is canceled before the end of the 7th day from the policy start date, we will refund in full: For example, for a plan bought on 1 June, you can get the full amount back if it is canceled before the end of 7 June. For cancellations after the 7th day from the policy start date: If you have chosen the annual billing option, we will refund the unused premium net of a 10% cancellation fee. The unused premium is calculated on a pro-rata monthly basis. A partial month is considered a full month in determining your refund amount. For example, if you paid HKD 1,200 at the beginning on 1 January, and you chose to cancel this policy on 1 February, the unused premium is equal to 10 months of premium counting from March, which is HKD 1,000. The cancellation charge is 10% of the annual premium which is HKD 120. You will then get a cancellation refund of HKD 1,000 - HKD 120 = HKD 880.   If you have chosen the monthly billing option, there will be no premium refund or cancellation charges.

Under what circumstances will my pet insurance policy be terminated or discontinued?

Your pet insurance policy will only be terminated when:   - the pet insured passed away*; - the premium is not fully paid at the end of the grace period; or - any misrepresentation, false information, or failure to disclose details which could influence our assessment of your policy application.   You will be notified in advance, and in line with fair and transparent practice, we will inform you the reason for ending your policy. If you have questions about our termination policy, please contact us via our live chat or email us at care@onedegree.hk.   *If the insured pet has passed away, you need to cancel the policy on your own through our online system or by sending us an email for policy termination, please refer to: Can I cancel my policy if my pet passed away during the insurance period?

Will my premium increase when I renew my pet’s policy?

It's possible that the premium may be adjusted or remain unchanged* when it's time to renew your policy. Factors we consider for pricing adjustments including but not limited to:    ⠀⠀ ⠀⠀⠀⠀⠀⠀ ⠀⠀⠀  - Collective claim experience in the preceding years by Hong Kong pet owners   - Your pet’s age at renewal#   - Average increase of the veterinary surgeon charges     ⠀⠀ ⠀⠀⠀⠀⠀⠀ ⠀⠀⠀  As the exact renewal premium will be calculated based on the factors stated above, we therefore cannot provide preview on renewal premium beforehand. Please rest assured that if there’s any adjustment, we will indicate the renewal premium 30 days before the policy renewal. If you prefer not to renew the policy, you may stop the auto-renewal function of the policy through our online system upon receiving the renewal notice. If you do not stop such function, the policy will be automatically renewed so that your pet’s protection will not be disrupted.     ⠀⠀ ⠀⠀⠀⠀⠀⠀ ⠀⠀⠀  *Premium discount offered by Promo code is only applicable to the first year of a policy. The renewal premium will be calculated based by the original price according to the pet’s age.     ⠀⠀ ⠀⠀⠀⠀⠀⠀ ⠀⠀⠀  #The age band of Pawfect Care are: 13 weeks to 11 months, 1 year old to 3 years old, 4 years old to 7 years old, and 8 years old to 11 years old.    ⠀⠀ ⠀⠀⠀⠀⠀⠀ ⠀⠀⠀  The premium trend and age band above are for reference only, no upper age limit for renewal. Renewal premium for pets that are over 11 years old will be adjusted annually. The exact renewal premium indicated in the Renewal Notice shall prevail. OneDegree reserves the right of final decision.

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