OneDegree increases cover for home appliances

It can now cover up to 14 types of commonly used home appliances

Hong Kong-based insurer OneDegree has optimised its home insurance plan and expanded the coverage of home electrical appliances.

The insurer has enabled coverage for up 14 types of commonly used home appliances, with coverage limited to TVs (excluding screens), air conditioners, refrigerators, washing machines, dryers, washer dryer combo, hood, hobs, oven, dehumidifier, air purifier, water heater, vacuum cleaner, and water filtration system purchased in Hong Kong, in use for less than 5 years and with the value ranging from $382.17 (HK$3k) to $3.82k (HK$30k); and out of the manufacturer’s original warranty.

Additionally, for only an additional premium of $7.64 (HK$60) per month, customers can receive more comprehensive home protection to safeguard their loved ones and their warmest home.

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“As of September 2022, the number of OneDegree Home Insurance policies has more than doubled from our previous quarter, with our sales – up by 1.2 times. As we noticed from our  market research, the current home appliance repair coverage in the market was insufficient to meet the market needs. Thus, we are now providing enhanced coverage for our customer’s home appliance repairs and needs. As a customer-centric company, we will continue adapting to our customers' changing home insurance needs and further optimise our products for families across the city,” Alvin Kwock, Co-Founder of OneDegree Group said.