5 Ways to Protect High-Value Items at Home

You might believe that your possessions are adequately covered by your home’s insurance policy, but in some cases, such as when pricey goods are damaged or stolen, coverage may be limited or nonexistent.

For instance, many homeowners’ policies often have a $1,000 or $1,500 coverage threshold for jewelry if the loss results from theft. These restrictions are in place to keep homeowners insurance costs down. However, if your home is broken into and $2,000 worth of jewelry is taken, and your policy only covers $1,000, your insurer will only pay you $1,000 to replace the lost things.

When that happens, an insurance endorsement (also known as a rider) may be able to give your possessions further protection. This coverage can help shield you from losing expensive goods, including jewelry, furs, antiques, artwork, and collectibles, for an additional fee.

Here are five recommendations to help protect high-value items at home:

1. Go over your insurance policy.

A contract between you and your carrier governs your insurance policy. This document specifies the maximum amount for which you may be reimbursed if certain expensive products are lost or damaged. Be aware that some things cannot be covered, so carefully study your policy to see if your insurance matches your needs. Contact your insurance representative if you have any queries.

2. Have Your Items Valuated

You might own things that are more valuable than you realize. It might be beneficial to have them valued to aid in your decision regarding whether you require additional coverage. Given that some items may not be covered by your homeowner’s insurance policy, an appraisal can assist you in determining if your home is fully insured.

Without expert advice, estimating the worth of some goods, such as jewels or collectibles, may be challenging. It can be required to frequently have your possessions reevaluated. If their worth rises, you might need to buy more insurance.

3. Make an inventory of your home.

Until you completely understand your possessions, you might not be able to decide whether to purchase more coverage. Making an inventory of your possessions may be a good idea. Don’t forget to search your attic, cellar, and garage for items like coin collections and antiques that may be housed there.

List all valuable objects and, if available, attach copies of the invoices or the appraisals. This might be helpful if you ever need to submit a claim to your insurance company.

4. Check the Crime Rate in Your Area

You could need more extra coverage to secure your possessions if you reside in a neighborhood with a high crime rate. Police agencies may keep track of crime data and disseminate it to the general public. You can think about inquiring with the authorities about local home invasion patterns. Installing a security alarm system is another option. You may be eligible for a homeowners insurance discount if you have an alarm system.

5. Make a list of your electronic devices.

People use their electronic devices to carry out work and maintain social relationships in our increasingly high-tech society. Numerous new tools and equipment have been created in recent years that could improve our lives. Make sure your homeowner’s coverage will cover their loss if you keep expensive equipment and laptops in your home.

Need help finding homeowner’s insurance in Hong Kong? Get in touch with us.


What are 5 tips for saving money on health insurance?

Hong Kong was recognized as the nation having the world’s most effective healthcare system in 2019. Both the public and private sectors have access to top-notch hospitals, cutting-edge technology, and highly skilled medical professionals. Hong Kong currently boasts the second-most expensive healthcare system in the world, only after the United States, thus this excellent quality of care also comes at a hefty cost. How can you reduce these costs, then?

Here are 5 tips to make sure you’re only spending what you need on health insurance.

1. Shop around for health insurance quotes. There are many different health insurance providers available, and the prices can vary greatly. Compare quotes from different providers to find the best deal.

Signs to look for when it comes to a good health insurance cover include:

-A provider with a good reputation.
-A provider with a wide range of cover options.
-A provider with good financial stability.
-A provider with a low premium price.

2. Consider using a health insurance discount. There are many health insurance discounts available, and finding one that is suitable for you can save you money.

Some common health insurance discounts include:

-Special discounts for members of particular health insurance schemes.
-Discounts for people who have a certain level of health insurance coverage.
-Discounts for people who live in a certain area.
-Discounts for people who are aged over a certain age.

3. Review your health insurance policy regularly. Regularly reviewing your policy will help you to identify any changes or updates that may need to be made, and will also help to ensure that you are fully covered.

Some things to look out for when reviewing your health insurance policy include

-The cover that is available to you.
-The exclusions that are included in the policy.
-Any changes to the premium price.
-Any changes to the cover that is available.
-Any changes to the conditions that are included in

4. You might think about choosing a co-insurance or annual deductible if you want to save money on your health insurance plan without sacrificing complete coverage. Your annual premium will drop dramatically if you choose one of these options.

The amount you must pay out-of-pocket before your insurance plan will begin to cover medical costs is known as a deductible. For instance, you have to pay the first $1,500 of your insurance’s coverage out of your own pocket before it starts to pay for your medical costs. Once you have paid the annual deductible, which is typically per year, any medical expenses that are covered by your plan will be fully reimbursed. If your work currently offers medical insurance but you would like to supplement your coverage and raise your level of benefits, taking on a deductible can be very appealing.

Choosing a co-insurance percentage is another way to pay a lesser premium. For instance, if you select a 20% co-insurance percentage, you will be responsible for 20% of all out-of-pocket medical expenses while your insurance will pay the remaining 80% in full.

5. Most health insurance providers give their customers the option of having private rooms available to them if they are hospitalized. Even while some extra comfort and privacy are necessary if you have to spend the night away from home, opting for a semi-private room would ultimately result in lower hospital and surgical costs.

The cost of a hospital stay will be reduced if you choose a semi-private room or a ward (which you may share with three people or more) if you don’t have access to private medical insurance or if your coverage for hospitalization and surgery has a low cap.

For example, a private room costs HK$3,300 per night at the Matilda Hospital, a well-liked private hospital among expats, whereas a night in a ward only costs HK$900.

In addition, hospital expenses and doctor fees are assessed independently in Hong Kong. This implies that the physician’s costs will be more expensive the higher the room standard. By selecting a shared room, you can reduce your costs while still receiving the same level of services.

In summary, you can save money on health insurance by researching different providers, reviewing your policy regularly, and choosing a co-insurance or deductible. By taking these simple steps, you can save money on your health insurance premiums.