Does driving experience count towards insurance claims? This article breaks down the experience calculation method!
When purchasing car insurance, driving experience is a major factor in determining the premium: the less driving experience a car owner has, the higher the probability of accidents and claims, and the higher the premium the insurance company will charge. But how is driving experience calculated? Is overseas driving experience included? Below is a simple explanation of the calculation methods
Driving experience equals license plate age; there are methods to replace old license plates
"Driving experience" is a rather subjective term. Generally, insurance companies use an objective calculation method, which is based on the number of years the owner has held their driver's license, also known as the license age, and can be calculated from the date of holding a provisional driver's license (commonly known as a "P license"). Therefore, when applying for insurance, you only need to submit the relevant driver's license to the insurance agent to provide your driving experience
If a vehicle owner's license plate is over ten years old, they must go to the Transport Department to renew it. When applying for insurance or making a claim, they need to prove their driving experience (especially when proving more than two years), and they must hand over both the old and new license plates as proof. However, if the vehicle owner has discarded the old license plate, and the newly renewed license plate is less than two years old, will they have to pay a higher insurance premium or incur additional down payment fees when making a claim?
Insurance companies consider each customer's situation holistically. When car owners are asked to provide documentation, those who have lost their old license plates can pay $160 to the Transport Department to apply for a "Certificate of Driving License Details," which provides a certificate containing complete license plate records, including the permit dates for the P plate and the full license. By submitting this certificate to the insurance company, they can still prove their 10 years of driving experience with their old license plate
Overseas driving experience license - keep the documents safe
Hong Kong residents often travel abroad for study or work holidays, inevitably renting or buying cars for commuting or travel. When car owners need to purchase car insurance in Hong Kong or make claims against Hong Kong car insurance companies, their overseas driving experience can actually be taken into account. Generally, buying or renting a car abroad requires relevant car insurance. As long as you keep the relevant insurance documents and your foreign driver's license, you can use them when applying for insurance or making claims in Hong Kong to prove your driving experience at the time
Choose a thoughtful car insurance plan
Hong Kong people's international perspectives mean that everyone has different driving backgrounds and experiences, making it crucial to choose the right car insurance company that best suits your needs. Want a comprehensive analysis before deciding on a car insurance company? AWM's car insurancequote servicemakes it easy to compare car insurance prices, and industry professionals are available to answer all your policy questions, ensuring you get the best car insurance service.