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Interior Decoration Protector - Building a Safe Environment for Decoration Work
Interior Decoration Protector is an insurance that is tailor-made coverage for either Contractor or Principal who wants to have protection on renovation, remodeling, or improvement work. The insurance covers material damage of the contract work and liability to third-party during the contract period. The Employees' Compensation Insurance is optional insurance for the Insured to have for the employees' injury or death arising from the accident that occur during the contract work.
Professional Fees Extension
Covers the cost and expenses necessarily to the professional bodies with maximum limit of 5% of Contract Sum or HK$100,000 in aggregate
Cover for Vibration, Removal or Weakening of Support
Indemnifies the Insured's liability subject to HK$2,000,000 any one accident/in aggregate
Optional Material Damage and Employees' Compensation Coverage
Covers the loss of or damage to the contract works and materials, and indemnifies the Insured against the legal liability at law to the employees for bodily injury or death
We've got your needs covered
Summary of Coverage
Section I - Material Damage (Optional)
This section covers the loss of or damage to the contract works and materials caused by fire, water damage and other unforeseen accident during the contract period.
Free Extension
- Professional Fees
Covers the costs and expenses necessarily to the professional bodies with maximum limit of 5% of Contract Sum or HK$100,000 in aggregate. - Removal of Debris
Indemnifies the Insured on the costs and expenses necessarily after an insured incident with up to 5% of Contract Sum per accident and in aggregate.
Section II - Third-Party Liability
This section indemnifies the Insured against the liability to third-party property damage and/or bodily injury arising out of contract works due to the negligence of the Insured.
Free Extension
- Cover for Principal’s Property
Indemnifies the Insured’s liability in respect of loss and damage to building, property of the Principal due to contract work being performed subject to a sub-limit of HK$2,000,000 in aggregate. - Cover for Vibration or Removal or Weakening of Support
Indemnifies the Insured’s liability in respect of collapse of any building, property or structure or any part thereof or any damage which impairs the structural stability of any building, property or structure or which endangers its users caused by or resulting from vibration or removal or weakening of support subject to HK$2,000,000 any one accident/in aggregate.
Section III - Employees' Compensation (Optional)
This section indemnifies the Insured against the legal liability at law (including Common Law) to the employees for bodily injury or death arising out of or in the course of employment under Employees’ Compensation Ordinance subject to an amount of HK$200 million per event.
Excess
(as low as being shown in this table)
| Contract Sum | Material Damage | Material Damage - Water Damage |
|---|
- Section I - Material Damage (Optional)
-
Contract Sum Material Damage Material Damage - Water Damage Up to HK$100,000 HK$10,000 HK$10,000 or 20% of adjusted loss, whichever is greater HK$100,001 to HK$300,000 HK$15,000 HK$15,000 or 20% of adjusted loss, whichever is greater HK$300,001 to HK$500,000 HK$20,000 HK$20,000 or 20% of adjusted loss, whichever is greater HK$500,001 to HK$700,000 HK$25,000 HK$25,000 or 20% of adjusted loss, whichever is greater HK$700,001 to HK$1,000,000 HK$30,000 HK$30,000 or 20% of adjusted loss, whichever is greater
| Limit of Indemnity Any One Accident |
Third-party Property Damage | Third-party Bodily Injury | Third-party Property Water Damage |
|---|
- Section II - Third-party Liability
-
Limit of Indemnity
Any One AccidentThird-party Property Damage Third-party Bodily Injury Third-party Property Water Damage HK$5,000,000 HK$10,000 HK$10,000 HK$10,000 or 20% of adjusted loss, whichever is greater HK$10,000,000 HK$15,000 HK$15,000 HK$15,000 or 20% of adjusted loss, whichever is greater HK$15,000,000 HK$20,000 HK$20,000 HK$20,000 or 20% of adjusted loss, whichever is greater HK$20,000,000 HK$25,000 HK$25,000 HK$25,000 or 20% of adjusted loss, whichever is greater HK$25,000,000 HK$30,000 HK$30,000 HK$30,000 or 20% of adjusted loss, whichever is greater HK$30,000,000 HK$35,000 HK$35,000 HK$35,000 or 20% of adjusted loss, whichever is greater
Extension
| A7: Principal's Property Damage | A1: Vibration or Removal or Weakening |
|---|
- A7: Principal's Property Damage
-
A7: Principal's Property Damage A1: Vibration or Removal or Weakening HK$20,000 or 20% of adjusted loss, whichever is the greater HK$20,000 or 20% of adjusted loss, whichever is the greater
Premium Table (HK$)
Contractor without Use of Scaffolding (as low as being shown in this table)
| Contract Sum | Up to HK$100,000 | HK$100,001 - HK$300,000 | HK$300,001 - HK$500,000 | HK$500,001 - HK$700,000 | HK$700,001 - HK$1,000,000 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
|
Benefits Selected: Public Liability |
Section I & II | Section II | Section I & II | Section II | Section I & II | Section II | Section I & II | Section II | Section I & II | Section II |
| HK$5,000,000 | 1,200 | 900 | 1,500 | 1,100 | 1,800 | 1,200 | 2,100 | 1,500 | 2,800 | 1,800 |
| HK$10,000,000 | 1,700 | 1,400 | 1,900 | 1,500 | 2,200 | 1,600 | 2,600 | 2,000 | 3,500 | 2,500 |
| HK$15,000,000 | 1,900 | 1,600 | 2,200 | 1,800 | 2,600 | 2,000 | 2,900 | 2,300 | 4,000 | 3,000 |
| HK$20,000,000 | 2,100 | 1,800 | 2,400 | 2,000 | 2,800 | 2,200 | 3,300 | 2,700 | 4,400 | 3,400 |
| Optional EC Cover | 1,500 | 1,500 | 1,800 | 1,800 | 2,800 | 2,800 | 4,000 | 4,000 | 6,000 | 6,000 |
Contractor with Use of Scaffolding - Scaffolding work not exceeding 25% of total contract work (as low as being shown in this table)
| Contract Sum | Up to HK$100,000 | HK$100,001 - HK$300,000 | HK$300,001 - HK$500,000 | HK$500,001 - HK$700,000 | HK$700,001 - HK$1,000,000 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
|
Benefits Selected: Public Liability |
Section I & II | Section II | Section I & II | Section II | Section I & II | Section II | Section I & II | Section II | Section I & II | Section II |
| HK$5,000,000 | 1,500 | 1,200 | 1,800 | 1,400 | 2,000 | 1,500 | 2,400 | 1,800 | 3,100 | 2,100 |
| HK$10,000,000 | 2,000 | 1,700 | 2,200 | 1,800 | 2,400 | 1,900 | 2,900 | 2,300 | 3,800 | 2,800 |
| HK$15,000,000 | 2,200 | 1,900 | 2,500 | 2,100 | 2,800 | 2,300 | 3,200 | 2,600 | 4,300 | 3,300 |
| HK$20,000,000 | 2,400 | 2,100 | 2,700 | 2,300 | 3,000 | 2,500 | 3,600 | 3,000 | 4,700 | 3,700 |
| Optional EC Cover | 2,500 | 2,500 | 2,800 | 2,800 | 4,000 | 4,000 | 6,000 | 6,000 | 8,000 | 8,000 |
The above premiums include both Employee Compensation Insurance (“EC”) levy and levy on insurance premium collected by the Insurance Authority (“IA”). EC levy is required if you elect the Section of Optional Employee Compensation Insurance. Levy collected by the Insurance Authority (if any) has been imposed on this Policy at the application rate and would be remitted in accordance with the prescribed arrangements. For further information, please visit https://www.libertyinsurance.com.hk/premium-levy. If you do not pay the overdue levy timely, the Insurance Authority (“IA”) may, according to the law, impose on the policyholder a penalty and may recover the outstanding levy as a civil debt due to the IA.
The Company shall have the right to alter the Table of Premium and the terms and conditions of this Policy from time to time without notice.
Important Information
- Major Exclusions
-
- Any fault, defect, error or omission in or failure of any design, plan or specification
- Any defect in material or workmanship except resulting from an accident
- Loss of use, liquated damages, penalties, performance guarantees or other consequential loss
- Contract works for whole building and construction site. Any works involving demolition, excavation and civil engineering will not be covered
- Liability arising out of or in connection with installation and/or demolition of scaffolding works
- Liability to self-employed persons or sole proprietor
- Liability to property belonging to or in the care, custody or control of the insured
- Important Notes
-
- Building must be Class One construction type
- Public entities such as hotels, building lobby, hospitals, cinemas, etc. will need to be individually assessed
- The policy is non-renewal and is on an individual contract basis
- Premium is non-refundable once effective
- The product is primarily for interior decoration. Any external works such as neon sign, exterior signboard, cage, claddings, building’s public and common area will need to be individually assessed
- Scope of work must be submitted to Liberty International Insurance Limited for review before commencement of the contract work