Is HSBC a Good Insurance Company?
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Discover the methodologyYou are considering buying an insurance policy at HSBC and are wondering if HSBC is the best insurer for you?
You've come to the right place!
In the below guide you’ll find everything you need to know about HSBC: expert and consumers reviews, insurance policies detailed, recommendation, contact and much more.
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Good to know
Safe's mission is to help anyone trying to get the best value for money deal on personal insurance making the right decision. We've analyzed over 1000 insurance companies and contracts. You will find below our independent and neutral rating and evaluation for HSBC.
Who is HSBC?
HSBC is one of the world’s largest banking and financial services organizations, and so far, it provides services for up to 36 million people worldwide. HSBC has over 600 branches in the UK and has long understood the importance of protection. Its travel insurance products are underwritten by Aviva Insurance Limited, a leading insurance company in the UK that is authorised and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
What are the main insurance policies available at HSBC?
Let's discover below main insurance policies offered by HSBC.
| Safe overall rate | Our reviews | |
|---|---|---|
| Travel insurance | Get to know more | |
| Home insurance | Get to know more | |
| Life insurance | Get to know more |
HSBC expert and consumers reviews: Defaqto, TrustPilot
HSBC is regularly audited by Defaqto expert rating. Defaqto ranks each company as well as policies with scores of 1 to 5 stars. Cover details, admin fees, value for money, claim and complaint process and more are analyzed and weighted.
Consumers, on the other hand, can write down their opinions on independent websites such as TrustPilot, Reevoo or Reviews which give great insights on claim process and refund as well as customer service at HSBC.
| Defaqto | |
|---|---|
| Home insurance | 5 |
Is HSBC a good travel insurance company?
4,2 Safe overall rating for HSBC travel insurance
Its travel insurance products are underwritten by Aviva Insurance Limited, a leading insurance company in the UK that is authorised and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The company's Single and Annual Multi Trip Policies are available across 2 levels: Standard and Premier. In addition to the main policies, one can opt for optional covers such as Golf, Baggage Cover, and Scuba Diving Cover.
We would recommend to HSBC to anyone looking for a simple and affordable Single or Annual Multi Trip travel insurance policy.
For single and annual multi-trip cover, age and maximum number of days limits at HSBC are:
| Main travel insurance policies | Available at HSBC |
|---|---|
| HSBC maximum number of days limit | Not Stated |
| HSBC age limit | Single Trip: 80 years |
You will find HSBC cover details (compensations, deductibles, extras etc.) for single and annual multi-trip policies in our review.
Besides main travel insurance policies, HSBC also provides extra cover such as:
- backpackers travel insurance
- long stay travel insurance
- winter sports cover
- golf cover
- cover for business trips
- cruise gear
- gadget cover
Scuba Diving Cover is also available as an optional upgrade.
>> MORE: read our complete review on HSBC travel insurance.
Is HSBC a good home insurance company?
4,3 Safe overall rating for HSBC home insurance
The company offers one level of cover for home insurance although you can choose whether you'd like to go for sum insured policy or bedroom related policy.
Both building and contents insurance are well rated by Which as well as by Defaqto expert rating. However, customer reviews on Trustpilot are poor which means that the claim process might not be smooth and stress-free.
HSBC building insurance
You will find below building main insurance details for the Standard Home Insurance cover at HSBC:
- Maximum sum insured for your property: Unlimited
- Owner's liability: £2 000 000
- Alternative emergency accomodation: £80 000
- Period of home's unoccupancy cover: 60 days
- Trace and access: £5 000
- Keys cover: £1 000
- Subsidence excess: £1 000
Alongside building insurance, you can get additional cover such as:
| Home building insurance extras | |
|---|---|
| Home emergency |
|
| Boiler cover |
|
| Family legal protection |
|
HSBC contents insurance
You will find below contents insurance details for the Standard Home Insurance cover at HSBC:
- Maximum sum insured for your contents: £80 000
- Alternative emergency accomodation: £10 000
- Single item limit: Not covered
- Contents in the open: £1 000
- Contents in outbuildings: £80 000
- Money / credit card kept at home: £750 / Not covered
- Items temporarily removed from home: £5 000
Alongside contents insurance, you can get additional cover such as:
| Home contents insurance extras | |
|---|---|
| Accidental damage cover | Optional extra |
| Personal possessions cover |
|
| Mobile cover |
|
| Bike cover |
|
Standard excess to report a claim at HSBC is £100.
You will find exhaustive cover details, administration fees, contacts etc. on HSBC home insurance on our review below.
>> MORE: read our complete review on HSBC home insurance.
Is HSBC a good life insurance company?
4 Safe overall rating for HSBC home insurance
HSBC life insurance offers cover of up to £2m, decreasing term cover, accidental benefit cover, among others. Their ratings are however low with a 1.5/5 rating on TrustPilot and an average rating of 3 stars on Defaqto. There are other better life insurance services that can be recommended, and adequate research should be made to find one that would suit your needs as a policyholder. In 2017, its insurance arm in the UK paid out 99.9% of life claims.
In summary, here are the main features you need to know when taking out life insurance with HSBC.
| Life insurance criteria | |
|---|---|
| Minimum age | 17 years |
| Maximum age | 69 years |
| Pay-out | Up to £2,000,000 |
| Extras | A life insurance calculator is available on the website. |
| Terminal illness | Yes |
You will find everything you need to know on HSBC life insurance in our review.
>> MORE: read our complete review on HSBC life insurance.
HSBC discount codes, promos and vouchers
| Discounts and promo codes available | |
|---|---|
| Travel insurance | 15% discount when you purchase your policy online. |
| Home insurance | No discount available. |
| Life insurance | Not stated |
How to contact HSBC?
Find out how to contact and log in to HSBC on our contact page.
