Frequently Asked Questions
1.What kind of documents do I need to provide for buying the private vehicle insurance?
• Proposal form
• HKID and driving licenses of all named drivers
• Vehicle registration document
• Previous policy schedule or renewal notice (if applicable), such as the NCD supporting or no. of consecutive years which are free of accident
• Certificate of Incorporation if the policyholder is a registered company
• Motor accident report if there was any accident happened in the last 3 years
• Supporting documents (Specific requirements please refer to webpage “fill in quote details" on ) for policyholders who wish to enjoy extra benefits
2.What kinds of information are needed for motor insurance quotation?
Applicants are required to provide the following information for quotation
1. Age/Date of Birth
2. Occupation
3. Years of Driving experience
4. Year of Manufacture of the vehicle
5. Vehicle Make and Model
6. Cylinder Capacity (c.c.)
7. No. of consecutive years free of accident
8. No. of accidents or claims for the past three years
9. Sum insured Value (applicable to Comprehensive only)
3.What should I do after obtaining the quotation online?
If you are satisfied with the quotation, quotation information will be sent to you by email when you click the “save quotation” button. Or you may continue to complete the procedure of buying insurance by selecting the policy start date (* Manual processing is required if the Policy needs to take immediate effect), and then fill in the online detailed insurance information, and finally complete the payment procedure by credit card, cheque, cash, online banking or ATM transfers, etc., you will then receive a Cover Note shortly via your email.
4.Does Target's commercial vehicle insurance extend to cover the Insured's legal liability to third party arising out of the operation of accessories forming part of the vehicle?
The insured must disclose the accessories installed on the vehicle, such as tailgate, to Target once the insured decides to join Target's commercial vehicle insurance and request this extension. Target will thereby cover the Insured's legal liability to third party arising out of the operation of tailgate.

This extension is subject to the following condition:
Limit of Liability: HK$1,000,000 for any one accident / any one period
Third Party Property Damage Excess: HK$20,000 each and every loss

For more details please refer to Policy or Endorsements / Clauses.
5.What is the information needed for commercial vehicle insurance quotation?
You only need to provide the following information and your contact to obtain a preliminary quote immediately:

• Vehicle Make and Model
• Year of Manufacture of the vehicle
• Tonnage
• Type of body
• Use of vehicle
• No. of years free of accident
• Accessories (If any)
• Special Permit (If any)
• Car owner information
6.What are the conditions for the online purchase of commercial vehicle insurance?
I. The applicant must be the car owner.
II. All named drivers are aged between 25 and 65 years old#
III. Hold a valid driving licence of the specific vehicle classification with more than 2 years driving experience#
IV. Incurred no more than 9 points in Driving-offence Points System in the past 2 years
V. No accident or claim incurred in last 3 years
VI. No licence suspended or cancelled in last 3 years

#If the driver has less than 2 years of driving experience or is aged below 25, Target will consider the application on a case-by-case basis.

7.What documents do I need to provide to buy Target's commercial vehicle insurance scheme?
I. Proposal form (Applicable to non-online applicants)
II. HKID and driving licenses of all main drivers and car owner; certificate of Incorporation if the policyholder is a company
III. Vehicle registration document and supporting documents for related permits and licenses (if applicable)
IV. Renewal notice issued by Insurer or the policy schedule of the previous year
V. Motor accident report if the proposer or the main driver has any accident happened in the last 3 years
VI. Policyholders who wish to enjoy extra benefits, please provide the required supporting documents
8.Can I cancel the policy? How?
Yes. You can notify us with a 7-day written notice and return the original certificate of insurance and schedule to cancel the insurance. Written notice could be sent by fax or email.

We will cancel the policy as soon as possible upon receipt of your written notice. You are required to return the original of certificate of insurance (C.I.) within 7-10 days. We will only arrange the refund after receiving the original certificate of insurance (C.I.). Target Insurance will return the premium according to the below proportion for any cancellation of policy halfway, durations less than a month will be regarded as a month. The minimum and non-refundable premium is HK$500 (Plus MIB & IA Levy).
1 month - 80% premium
2 months - 70% premium
3 months - 60% premium
4 months - 50% premium
5 months - 40% premium
6 months - 30% premium
7 or 8 months - 20% premium
More than 8 months - No refund

* Please be noted that if any car accident report is filed during the insurance period, no refund of premium will be made upon cancellation of policy.
9.How will I get refunds?
The payment will be reimbursed by Direct Credit and will take around 4 -6 weeks.
10.Can I modify my insurance information? (What information can be modified?) How?
For the below amendments for your policy, please call our customer service hotline 2926 2926 during office hours for the charges incurred and procedures
1. Change of license plate
2. Change of vehicle
3. Change of vehicle engine
4. Change of financial / banking affaires
5. Change of address
6. Change of the name of insured
7. Change of named driver
8. Change / Transfer NCB
11.No claim discount (NCB/NCD)?
NCB/NCD is no claim bonus/ no claim discount that we offer you as incentive during your renewal if there are no claims caused by accident on your policy in the past year of insurance.

For the first year of free of accident, the no claim discount is 0%
For the first year after renewal, the no claim discount is 20%
For the second year after renewal, the no claim discount is 30%
For the third year after renewal, the no claim discount is 40%
For the fourth year after renewal, the no claim discount is 50%
For the fifth year after renewal or more, the no claim discount is 60%

There are different calculations of no claim discount for different type of vehicle, so there is no common calculation of no claim discount. For example, no claim discount for private vehicle can be accumulated up to 60% while no claim discount for motorcycle and commercial vehicles can only be accumulated to 30%.

No claim discount is attached to the policy holder only. Thus, you are not entitled to have the no claim discount when you have sold your vehicle. Meanwhile, even though the owner of the no claim discount is the same person, the no claim discount only applies to one vehicle. Therefore, the owner who have several vehicles will have more than one no claim discount. Moreover, the vehicle owner should also be aware that if he/she fails to apply transferring the no claim discount to another vehicle when the first vehicle was sold, the no claim discount will be automatically cancelled after one year. Even if it is a 60% no claim discount, the discount will be reset to 0% in this scenario.
12.What is an excess?
An excess is the amount that you must contribute towards the cost of a claim. The policyholder should pay the excess amount first and the insurance company will pay the rest of the compensation. In a normal situation, the higher the excess you contribute, the lower the premium you will pay.

For example, if the excess for the policy holder is HK$5,000 and the total compensation is HK$12,000, the policy holder is necessary to afford the first HK$5,000 whilst the remaining HK$7,000 will be payable by the insurance company.

The policy will also list different excess in details as follows:
1. General Damage / Own Damage (Applicable to Comprehensive only)
2. Unnamed Driver
3. Young Driver
4. Inexperienced Driver
5. Theft Loss
6. Third Party Property Damage
7. Parking Damage (Applicable to Comprehensive only)
13.What is MIB?
MIB is the abbreviation for the Hong Kong Motor Insurance Bureau. The Bureau is responsible for managing two funds. The source of both funds is contributed from the 3% surcharge of the auto insurance policy.

Hong Kong Motor Insurance Bureau has been providing compensation for the wounded during traffic accidents when drivers are not insured or missing, or relevant insurance companies are insolvent since it was founded in 1980. All insurance companies authorized to engage in mandatory auto insurance in Hong Kong shall become the member of Hong Kong Motor Insurance Bureau.

14.How to claim for compensation?
The procedure of claim for compensation of Target Insurance is simple: please download the form of claim for compensation online and fax to 2789 1172 and email to or call at 2926 2926 and provide necessary proof within 14 working days. You can also come to our registered office where the opening hours is from 9:00 a.m. to 5:30 p.m. on Monday to Friday.

Please complete all the blanks in the Form of Notice of Accident Under Motor Policy for avoiding any delay of your compensation. The more sufficient documents you provide, the more efficient we deal with your claim.
15.What documents / information shall submit when claim for compensation?
1. Completed Claim Form
2. Copy of Driver's Identity Card
3. Copy of Driver's Driving License
4. Letter of Consent signed by the Driver
5. Copy of Vehicle Registration Document (Both front and back page)
6. Copy of Police Statement of the Driver
7. Copy of Screening Breath Test Report (if any)
8. Copy of Motor Rental Agreement
9. Copy Video Footage of the Accident Occurrence
16.What shall I do if there is an accident?
In the scene:
I.Remain calm and immediately report to the police and call an ambulance when someone is injured, avoid arguing with the other driver.
II.In case of casualties, do not move the vehicles without permission of the police.
III.Do not accept any compensation arrangement voluntarily without consent of Target Insurance, otherwise all responsibilities shall be on one’s own account. In addition, do not reach any agreement with the other party before getting prior written consents from the insurance company.
IV.If possible, get the name and address of the driver of the accident vehicle; the license plate number of the accident vehicle, the vehicle owner's name, the applicant’s name and policy numbers of other vehicles involved.
V.Notify the insurance company and submit documents as soon as possible within 14 working days after the occurrence of the accident, otherwise the rights and interests of the insured may be affected.
VI.Notify the insurance company promptly if receiving any information relevant to the case in any forms (for example, any court/police notices or any third party claims).
17.Under what circumstances we need to report to the police?
According to the existing law, all accidents are required to be reported to the police for recording.

When traffic accident occurred which causes no vehicle damages and personal injuries or damage to the government or third party’s property, both parties may reach a reconciliation by exchanging information and reaching reconciliation agreement. Since a reconciliation has complied to the legislation requirements, the accident is no need to report to the police for further actions.

If both sides fail to reach reconciliation, or there are deaths, injuries or damages to the government’s public property or severe damages to the vehicles, one must report the accident to the police within 24 hours after the accident regardless of whether the parties have exchanged any information. And without prior authorization from the police officers, both parties involved or anyone else should not move or interfere with any vehicles involved in accidents. Any actions causing destruction, changes or concealment to the evidence of the accidents are criminal acts, and can be fined for HK$10,000.00 and imprisonment of six months.

We recommend you to report to the police traffic accident investigation agency immediately after the accident to protect yourself.
18.How to calculate the market value of your car?
We will calculate the market value of the vehicle and it’s annual depreciation based on the comprehensive insured sum provided by you when buying the insurance policy. We will also obtain the market value provided by vehicles agents and professional valuer. Value of similar vehicles (including make, model and age) in the market at the time of the accident will also be used as a reference.
19.Under what circumstances should the vehicles be sent to the garage for repair?
When the vehicle is damaged, the owner (with a comprehensive policy) has to send the vehicle to the garage and obtain the quotation (commonly known as getting the quotation), we will arrange a surveyor (in about 2-3 days) to conduct inspection and verification in the garage.
20.Customer feedback or complaint
We’re proud of our products and services. In case you have feedback or complaint, you can contact us in one of the following ways:

Phone: 29262926
Fax: 35856028
Post: 5/F, Low Block, Grand Millennium Plaza, No. 181 Queen's Road, Central, Hong Kong

Upon receipt of your feedback or complaint, we will acknowledge your request within one working day and commit a resolution within 5 working days.
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