FAQs

Got questions? We’re here to help!

General

KoverNow is a passion-driven, pioneering Insurtech company built to provide personalized insurance for the things you cherish, accessible right from your phone. We offer simple and affordable item products on our app. It’s one-stop digital for you to get instant quotes, manage policies and file a claim anytime, anywhere!

KoverNow is a fully licensed agent (IA License No. GA1069) and a member of FinTech Association of Hong Kong. We partner with IA-regulated insurance carriers that underwrite our products.

We are available to all legal residents of Hong Kong of legal age, verified through Shufti Pro.

If you would like to verify through Shufti Pro, please prepare the following documents: 

  • Hong Kong Identity Card (HKID) 
  • Proof of Address (recent utility bill, bank statement or credit card statement) 

If you have a KoverNow policy or have had one in the past, please navigate to the menu on our app and click “Contact us”.

Otherwise, you can contact us at info@kovernow.com

Item Insurance

Policy

We insure a range of high value items. Details for what we insure are available on the KoverNow app.

We base your premiums on the current market value and any additional information you provide. Because the value of items may change over time, you might see a drop, or rise in the premium at renewal. This just means the insurance cost is keeping up with your item’s current market value.  

For watches, we’ve gone a step further. By partnering with WatchCharts, you are in addition able to track daily market values for the most popular makes and models. 

Easy! Just add the item to your personal Vault on the KoverNow app, upload proof of ownership like receipt(s) and a selfie(s) with your item, then get an instant quote. Love the premium? Seal the deal with a secure payment and voila! Your item is insured. 

Our policies can adjust to your needs instantly, by allowing you to add or remove items from your policy. A single policy holds all your items. If you add an item, you will be quoted a premium reflecting the period to the roll date of the policy. 

With KoverNow, you’re never tied down. You can cancel coverage for individual items within your policy at any time through the KoverNow app. When canceling an item’s coverage, you will have two options: 

  1. Keep Coverage until the End of the Policy (No Refund): Your item will remain insured until the policy ends, but no refund will be provided for the remaining period of the policy. 
  2. End Coverage Now (Refund Eligible): Your item will no longer be insured after cancellation, and you will receive a refund for the remaining period of the policy.  

Please note: Refunds are unavailable for cancellations made within 7 days of the policy end date.

No, our policies are structured for simplicity, so you do not need to worry about either. 

Coverage

We specialize in item insurance tailored to protect each of your possessions based on their individual value and risk, offering global protection. Unlike Home Contents Insurance, which typically imposes coverage limits for each item category, our policies are designed to accommodate the unique needs of luxury items that may appreciate in value. Relying on general Home Contents insurance could leave these high-value items underinsured in the event of loss, meaning if your item costs more than the limit, you won’t be able to replace it with a similar item. Additionally, Home Contents policies often bundle services that may not be necessary, potentially leading to higher premiums. With KoverNow, you ensure your premiums are affordable and your coverage is adequate with transparent policies.

Warranties typically cover mechanical failure only, while KoverNow’s item policies offer “all-risk” protection including accidental damage, loss and theft.

Our coverage is worldwide, with some territorial limitations. This may change from time to time, depending on global sanctions and conflicts. For updated lists of exclusions, please refer to the policy wordings.

Payments

After reviewing your coverage summary, you’ll be able to pay using your credit/debit card (we accept Visa, Master, American Express), Google Pay and Apple Pay. We will charge you when you pay for your policy, and automatically at renewal.

You can find and download them from the menu of our app under “Invoice & Subscription”.

If there is an issue with your credit card, we’ll ask you to provide us with a different one or update the details. We need to collect the premium before your item can be covered. We will notify you by email in case of any issues. 

Claims

You can file a claim 24/7 on the KoverNow app by clicking “Make a Claim” in your policy tab. We will guide you through the rest of the short process there.

Once your claim is approved, our underwriter will issue payment directly into your bank account. We will ask you for your bank account information during the claims process already.

Confidentiality

We take the safekeeping of your information very seriously (see our Privacy Policy) and KoverNow is PDPO Compliant. We will never sell your information or share it with anyone except to provide our services such as issuing a policy and promote our business.

Should you have any concerns or questions regarding your data please contact us at dpo@kovernow.com

Insurance companies – like banks – and other financial intermediaries are at the risk of being used for money laundering and terror financing.

The Insurance Authority (IA) therefore requires banks and insurance companies to implement specific procedures to prevent those criminal activities. You can refer to details here.

KoverNow’s underwriting partners are regulated by the IA and subject to those rules. To satisfy regulatory- and record-keeping requirements we must identify you before you can purchase a policy. To make this as convenient as possible, we use the particularly safe e-KYC (Know Your Customer) technology called ShuftiPro.