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Unilateral Recognition
等效先認
等效先认
Quota-free Scheme and Unilateral Recognition
What is the Quota-free Scheme?
Under the Quota-free Scheme, eligible Hong Kong private cars are allowed to travel between Hong Kong and Guangdong via the HZMB without obtaining a regular quota. The Quota-free Scheme enables Hong Kong residents to drive to Guangdong for business, visiting families or sight-seeing on a short-term basis, thus making better use of the HZMB and promoting the development of the Greater Bay Area. Applicants must be Hong Kong residents with a valid Hong Kong Identify Card and a valid Mainland Travel Permit for Hong Kong and Macao Residents (i.e. a Home Return Permit), and they must be the registered owners of the private cars concerned. The applicants’ vehicles are allowed to stay in the Mainland for a continuous period of no more than 30 days per visit, and no more than 180 days each year in total.
For details regarding the Quota-free Scheme, please refer to the website of Guangdong Provincial Government (in Chinese only). For details regarding the application procedures, please refer to the website of the Transport Department (in Chinese only, English version will be available in due course).
What is Unilateral Recognition?
For the convenience of Hong Kong car owners and/or drivers, the Government of the Hong Kong Special Administrative Region, the Insurance Authority and the relevant authorities in the Mainland reached an agreement for implementing the Unilateral Recognition policy. A Unilateral Recognition insurance policy issued by a Hong Kong insurer comprises a main policy, which is the Hong Kong motor insurance cover, and a top-up policy, which is the Mainland motor insurance cover and is effective in the Mainland. The entire insurance policy is issued by a Hong Kong insurer, so that Hong Kong car owners and/or drivers do not have to purchase two separate policies for Hong Kong and the Mainland.
The applicability of Unilateral Recognition policy is aligned with the Quota-free Scheme: Hong Kong non-commercial private cars entering Guangdong via the HZMB and Zhuhai port without a regular quota (i.e. with a Hong Kong car plate only – no Mainland car plate).
What does the Unilateral Recognition policy cover?
Unilateral Recognition products comprise a main policy, a mandatory top-up cover and a selective top-up cover:
The main policy is a Hong Kong statutory motor insurance policy (either a third-party liability or comprehensive insurance policy) compliant with the Motor Vehicles Insurance (Third Party Risks) Ordinance (Chapter 272 of the Hong Kong laws).
The mandatory top-up cover is equivalent to the Mainland Compulsory Traffic Accident Liability Insurance for Motor Vehicles (Compulsory Motor Insurance), which protects against only third-party (excluding the driver and passengers of the insured vehicle) personal injury and/or property loss and covers liability of a maximum of RMB 200,000 per event (which is the statutory minimum requirement in the Mainland).
The selective top-up cover is equivalent to the Mainland Commercial Insurance for Motor Vehicles (Commercial Motor Insurance), which protects against third-party personal injury and/or property loss in excess of the statutory minimum requirement in the Mainland, as well as claims relating to the driver and passengers of the insured vehicles. Policy holders can choose the protection limits that meet their needs, ranging from RMB 1 million to 10 million for the former, and from RMB 10,000 to RMB 100,000 for the latter.
Considering the economic development and geographical risks in Mainland cities and to meet the needs of Hong Kong car owners and/or drivers entering Guangdong province for motor insurance protection in the Mainland, we recommend that Hong Kong car owners and/or drivers choose selective top-up cover (i.e. Commercial Motor Insurance) depending on their ability to withstand risks to obtain more comprehensive protection. If the insurance protection limit is insufficient to cover liabilities arising from an accident, car owners and/or drivers will be liable for the difference.
Hong Kong car owners and/or drivers can procure Unilateral Recognition products when they first purchase a motor insurance policy or renew their existing motor insurance policy. If they have in-force Hong Kong statutory motor insurance, they can procure top-up Mainland cover within the validity of their existing Hong Kong policy. The maximum validity of the top-up cover is one year (i.e. the maximum validity of Hong Kong statutory motor insurance); Hong Kong insurers may offer top-up cover with shorter validity (validity of 30 days would be the most common) depending on clients' needs.
Unilateral Recognition
等效先認
等效先认
Quota-free Scheme and Unilateral Recognition
What is the Quota-free Scheme?
Under the Quota-free Scheme, eligible Hong Kong private cars are allowed to travel between Hong Kong and Guangdong via the HZMB without obtaining a regular quota. The Quota-free Scheme enables Hong Kong residents to drive to Guangdong for business, visiting families or sight-seeing on a short-term basis, thus making better use of the HZMB and promoting the development of the Greater Bay Area. Applicants must be Hong Kong residents with a valid Hong Kong Identify Card and a valid Mainland Travel Permit for Hong Kong and Macao Residents (i.e. a Home Return Permit), and they must be the registered owners of the private cars concerned. The applicants’ vehicles are allowed to stay in the Mainland for a continuous period of no more than 30 days per visit, and no more than 180 days each year in total.
For details regarding the Quota-free Scheme, please refer to the website of Guangdong Provincial Government (in Chinese only). For details regarding the application procedures, please refer to the website of the Transport Department (in Chinese only, English version will be available in due course).
What is Unilateral Recognition?
For the convenience of Hong Kong car owners and/or drivers, the Government of the Hong Kong Special Administrative Region, the Insurance Authority and the relevant authorities in the Mainland reached an agreement for implementing the Unilateral Recognition policy. A Unilateral Recognition insurance policy issued by a Hong Kong insurer comprises a main policy, which is the Hong Kong motor insurance cover, and a top-up policy, which is the Mainland motor insurance cover and is effective in the Mainland. The entire insurance policy is issued by a Hong Kong insurer, so that Hong Kong car owners and/or drivers do not have to purchase two separate policies for Hong Kong and the Mainland.
The applicability of Unilateral Recognition policy is aligned with the Quota-free Scheme: Hong Kong non-commercial private cars entering Guangdong via the HZMB and Zhuhai port without a regular quota (i.e. with a Hong Kong car plate only – no Mainland car plate).
What does the Unilateral Recognition policy cover?
Unilateral Recognition products comprise a main policy, a mandatory top-up cover and a selective top-up cover:
The main policy is a Hong Kong statutory motor insurance policy (either a third-party liability or comprehensive insurance policy) compliant with the Motor Vehicles Insurance (Third Party Risks) Ordinance (Chapter 272 of the Hong Kong laws).
The mandatory top-up cover is equivalent to the Mainland Compulsory Traffic Accident Liability Insurance for Motor Vehicles (Compulsory Motor Insurance), which protects against only third-party (excluding the driver and passengers of the insured vehicle) personal injury and/or property loss and covers liability of a maximum of RMB 200,000 per event (which is the statutory minimum requirement in the Mainland).
The selective top-up cover is equivalent to the Mainland Commercial Insurance for Motor Vehicles (Commercial Motor Insurance), which protects against third-party personal injury and/or property loss in excess of the statutory minimum requirement in the Mainland, as well as claims relating to the driver and passengers of the insured vehicles. Policy holders can choose the protection limits that meet their needs, ranging from RMB 1 million to 10 million for the former, and from RMB 10,000 to RMB 100,000 for the latter.
Considering the economic development and geographical risks in Mainland cities and to meet the needs of Hong Kong car owners and/or drivers entering Guangdong province for motor insurance protection in the Mainland, we recommend that Hong Kong car owners and/or drivers choose selective top-up cover (i.e. Commercial Motor Insurance) depending on their ability to withstand risks to obtain more comprehensive protection. If the insurance protection limit is insufficient to cover liabilities arising from an accident, car owners and/or drivers will be liable for the difference.
Hong Kong car owners and/or drivers can procure Unilateral Recognition products when they first purchase a motor insurance policy or renew their existing motor insurance policy. If they have in-force Hong Kong statutory motor insurance, they can procure top-up Mainland cover within the validity of their existing Hong Kong policy. The maximum validity of the top-up cover is one year (i.e. the maximum validity of Hong Kong statutory motor insurance); Hong Kong insurers may offer top-up cover with shorter validity (validity of 30 days would be the most common) depending on clients' needs.
© Copyrights 2024. The Hong Kong Federation of Insurers. All rights reserved
© Copyrights 2024. The Hong Kong Federation of Insurers. All rights reserved