【KKplus Incident】Does home insurance cover third-party property damage? Senior insurance professional Marcus Wong: Legal procedures necessary.
- RT FAMILY
- Apr 16, 2024
- 2 min read
At KKplus toy store in Langham Place, a boy accidentally knocked over and broke a statue, resulting in his parents compensating over HKD 30,000 on the spot. This incident sparked widespread discussion. KKplus clarified that the parents took the initiative in handling the situation. Concerns arise among parents about coverage for damages caused by their children, potentially leading to significant compensation claims.
Certain home insurance products not only cover accidents within the home but also extend coverage to accidents outside the home. Some insurance companies offer personal liability coverage, encompassing legal responsibilities for bodily injuries or property damage to others occurring within Hong Kong during the insurance period. If citizens purchase these insurance products, can they make claims for accidents that cause damage to store owners?
Marcus Wong, a senior insurance professional and father, explained that while some insurance products cover household members, including children, and third-party liability insurance has the potential to cover accidental damages, there are no explicit provisions in the policies.
Third-party liability coverage, including coverage for household members, applies to legal liabilities arising from accidents in Hong Kong or elsewhere. Claims can be made under this insurance.
However, it is important to review policy wording and requirements, as intentional damages, such as kicking, may not be covered. Legal liability compensation must be sought. If one admits fault and compensates first, the insurance company will not provide compensation.
If relevant insurance coverage has been purchased and an accident occurs, it is advisable to report the incident to the police and let the insurance company handle it, understanding that the process may take time.
For valuable exhibits or collections in private locations, additional coverage for these items can be obtained by applying to the insurance company for assessment and a quotation.
As a father himself, Marcus Wong understands the primary concern is the well-being of the child after an accident. He believes that the immediate actions taken by the parents in this incident were correct, as protecting the child from distress is their priority. Prompt resolution and compensation are necessary to prevent further harm to the child.
If a similar incident happened to him, Marcus Wong would also prioritize the well-being of the child, seeking a quick resolution to prevent harm. He would provide comfort and encouragement, emphasizing the minor nature of the incident and the need for caution in the future.
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