Essential for Mortgages
Fire Insurance

Homeowner's Must-Have Fire Insurance

Best Price Guarantee*

At OneDegree • No Agent •  Low Cost • Better Protection! Enroll Fire Insurance with referral code 【HOMEPOD】 by 31 May to receive a free HomePod mini or HKD 200 supermarket cash coupon**!

Best Price Guaranteed
Some insurers may charge up to 0.15% of the sum insured annually for fire coverage. With OneDegree, you’ll pay just 0.03% for a policy, and if you find a better rate elsewhere, we’ll match it!
Other Insurers
Up to 0.15%
best price fire mortgage
See how much we can save for you!
Enter your mortgage amount to get an instant quote.
HKD 500,000
HKD 50,000,000
We insure from HKD 500,000 to HKD 50,000,000. If you need more or less coverage, get in touch and we'll see what we can do for you. Please note that the minimum premium is set at HKD 400/year.
OneDegree HK
OneDegree HK
OneDegree HK
Other Providers
You would be
saving up to
Premium with our rate 0.03% & highest market rate 0.15%
Our Key Features
Most banks require homeowners to take out fire coverage before approving a mortgage.
While the banks themselves also offer fire insurance, OneDegree gives homeowners an affordable alternative with the same comprehensive coverage.
Best-Price Guarantee
Customized coverage to meet your lender's requirements
Policy can be cancelled at any time
We cover damages caused by
OneDegree HK
OneDegree HK
OneDegree HK
OneDegree HK
Boiler or Gas Explosion
Coverage can be extended depending on your mortgage bank's needs
What’s Not Covered?
We currently only insure residential properties. In our standard Fire Insurance policy, damages from earthquakes, forest/bush fires, riot and strikes are among items that are excluded. However, this may differ from policy to policy, coverage can be extended depending on your mortgage bank's needs.
OneDegree HK
OneDegree HK
OneDegree HK
How does it work?
Buy a fire insurance policy on our website
We’ll inform your lender about your policy switch, and they will send you a notice once your new policy is confirmed. You just have to sit back and enjoy the savings!
If you are switching from another insurance provider, don’t forget to ask them for a premium refund.
OneDegree HK
OneDegree HK
OneDegree HK

Is Building Insurance same as “Fire Insurance”?

Yes, Buildings Insurance is also commonly known as Fire Insurance. It covers a property's structure if there is damage caused by events including fire, typhoons/windstorms, and explosions. Many homebuyers looking to take out a mortgage need to buy fire insurance, as it is required by banks before they will approve a home loan.

Can I choose the effective date for my fire insurance policy?

The policy start date must be within the period from 10 to 180 days after your purchase.

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.

Are premiums higher for certain property types?

OneDegree Fire Insurance premiums are fixed at  0.03% of the Sum Insured. The rate is applicable to residential properties of all types and all ages. Get a quote for your property here.

When purchasing fire insurance from a bank, the premium rate may depend on your property's type and valuation. For example, village houses and older buildings will tend to cost more to insure than private housing estates and newer buildings. The rates offered by banks generally range from 0.08% to 0.15%.

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.

Terms and Conditions

This promotion is valid from 1 May to 31 May 2022 (“Promotion Period”).     


Customers must complete the fire insurance policy purchase on the OneDegree website and enter “HOMEPOD” as the referral code. Customers whose policy is still effective as of 31 August 2022, will get one of the below rewards (“Reward”): Premium (excluded premium levy) is between HKD 400 – HKD 1399: HKD 200 ParknShop Supermarket Cash Coupon (“Coupon”); Premium (excluded premium levy) is over HKD 1399: Apple HomePod Mini (“HomePod”).   


Only one referral code may be used per policy purchase. The referral code will be deemed invalid if more than one referral code is input on the checkout page.   


The Reward is only available to customers purchasing OneDegree fire insurance for the first time.   


A customer who successfully purchases a policy using the referral code during the Promotion Period, and provided that the policy is still effective by the time of collection of the Coupon or HomePod, (“Eligible Reward Recipient”) will receive an email about the collection arrangement of the Reward in the week of 31 August 2022 via the email address provided during policy purchase.


Customers should ensure that their email address provided during policy purchase is accurate. OneDegree is not responsible for any delivery failure due to errors or missing information in the email address provided. Actual reward collection date may vary as it is subject to stock availability. If the Reward is out of stock, it will be replaced by a product with the same value.   


If the policyholder cancels the fire insurance policy during the policy term, OneDegree reserves the right to deduct the value of Reward from any premium refund.   


The Reward cannot be transferred, returned, exchanged for cash, or exchanged for other products or services under any circumstances.   


The Coupon is subject to the terms and conditions imposed by the supermarket coupon supplier. In case of any enquiry or dispute in relation to the Coupon, customers should deal with the supermarket coupon supplier directly.    


For details of coverage, terms, conditions, and exclusions of OneDegree fire insurance, please refer to the policy wording.    


All matters or disputes in relation to this promotion and the interpretation of these terms and conditions shall be subject to the decision of OneDegree, which shall be final and binding.   


In case of any discrepancy between the English and Chinese versions of these terms and conditions, the English version shall prevail.