HSBC provides worldwide insurance services for travellers with a 40% discount rate. Personal accident cover for travellers can be also taken 3 hours before departure in case of an accident or any personal effect. HSBC travel insurance package has benefit for single trip and regular travellers. While on the other hand, Standard Chartered Bank (SCB) is for risk-free travelling that starts when a traveller charges the entire return air ticket by using the credit card of a standard chartered bank. Insurance includes cover for interpreter referral, medical assistance, passport assistance, and accident. Below a table for making the comparison of Standard Chartered bank and the HSBC bank regarding the travel insurance is mentioned.

Benefits	Standard Chartered	HSBC
Personal Accident	1000000	2000000
Medical Expenses (up to 3 months after return to HK)	50,000	Fully covered
Overseas Hospital Cash	50,000	Fully covered
Loss or Delay of Baggage	25,000 / 6,000	20,000 / 2,000
Personal Liability	2,000,000	10,000,000
Travel Delay	5,000 (250 every 6 hours)	2,500 (over 6 hours)
Trip Re-route	12,000	4,000
Trip Cancellation and Cultailment	50,000	50,000
Missed event	3,000	10,000
Rental Vehicle Excess	5,000	3,000

v Comparison by Standard Chartered Bank & HSBC

Following the above-presented table, personal accident cover provided by Standard Chartered Bank (1,000,000) is less than the amount of coverage paid by HSBC (2,000.000). Moreover, HSBS also cover the entire expenses of overseas hospital cash requirement and medical expenditure. While on the other hand, Standard Chartered Bank (SCB) partially cover medical expenses and overseas hospital cash (limited to $50,000 only). Additionally, the cover amount paid for the missed event and personal liability expenses are also greater by HSBC bank than Standard Chartered Bank (SCB). Excluding this, Standard Chartered Bank (SCB) has advantage on the services of HSBC because of its strength to pay relatively more amount for travel delay, trip-re-route, trip cancellation curtailment, loss or delay of baggage. Thus comparatively, HSBC should be given priority to the insurance package of HSBC on Standard Chartered Bank (SCB) because the total amount of benefits offered to the clients of Standard Chartered Bank (SCB) are less than total amount of benefits offered to travellers of HSBC. Thus suggested bank for travelling insurance is HSBC.

Home Insurance by Standard Chartered Bank & HSBC

In the context of Standard Chartered Bank, the home insurance is the product of the bank which is more affordable for inclined customers. It tends to provide potential customers with protection against disasters. In this way, the Standard Chartered Bank provides the customers with home insurance along with the valuable possessions that a house contains. The significant features of home insurance at Standard Chartered Bank include as given:

· The comprehensive insurance is provided for the household and the possessions.

· Any loss or damage that occurs to the home is covered with the home insurance at Standard Chartered Bank.

· Home insurance is hassle-free.

· It provides the customers with the time saving along with the reduction to the trouble.

· It provides the customers with cost-effective ways to protect against the disastrous loss to the home and the belongings.

HSBC Bank provides home insurance product of Aviva Insurance Limited. In this insurance, clients are given a full package for home security with free Motorola security camera having the capability of smart live streaming. The client is given three options from which they have to select one. Three options are building, contents, and combine the two. In the context of HSBC, the significant features of home insurance are as given:

· In case the customers are willing to pay the monthly instalments then no additional charges are required to be paid.

· There exist the contact centers in Hong Kong that help to provide guidance to the potential customers who intend to get the home insurance from HSBC.

Benefits	Standard Chartered	HSBC
Home contents	1,500,000	1,200,000
Worldwide All Risk	50,000 per period of insurance / 20,000 per item	20,000 / 10,000 per item
Personal Liability	12,000,000	10,000,000
Benefits	Standard Chartered	HSBC
Accidental Death	1,500,000	1,000,000
Total Permanent Disability & Partial Permanent Disability	1,500,000	1,000,000 maximum

v Comparison by Standard Chartered Bank & HSBC

Comparatively, the home content of Standard Chartered Bank (SCB) is greater than HSBC. However, risk per item is also greater for the standard chartered bank as compared to HSBC. While personal liability amount of Standard Chartered Bank (SCB) more than HSBC makes Standard Chartered Bank (SCB) insurance relatively more beneficial for HSBC. But at the same time, total permanent disability and accidental death benefits of Standard Chartered Bank (SCB) again encouraged to give preference to Standard Chartered Bank (SCB) on HSBC.

Accident Protect Insurance by Standard Chartered Bank & HSBC

Standard Chartered bank provides the customers with protection against the accidents. For the said purpose the accident protection policy for insurance exists at Standard Chartered bank. It provides the inclined customers against the protection from the accidents and after-effects. The amount paid for the accidental protection is as per the insurance policy of Standard Chartered bank.

HSBC takes responsibility of the bank to serve its clients with high-quality services. HSBC package includes benefits for the family of the insured person in case of his/her death and disability by accident. Bank provides a lump sum amount of $1,000,000 to cover all medical expenses and treatment fee after the accident. Although the bank provides access to 250 hospitals in the mainland.

The table below is providing with the comparison for the benefits of the accident protection insurance. This comparison is made in the context of accidental death as well as total permanent disability and partial permanent disability.

Benefits	Standard Chartered	HSBC
Accidental Death	1,500,000	1,000,000
Total Permanent Disability & Partial Permanent Disability	1,500,000	1,000,000 maximum

v Comparison by Standard Chartered Bank & HSBC

Accident protection insurance package offered by HSBC a maximum of $1,000,000 for partial and permanent disability. However, comparatively Standard Chartered Bank (SCB) pays $500,000 more than HSBC to its clients in case of permanent or partial disability. Somehow, again for accidental death, HSBC is liable to pay only 1,000,000 which is less than the benefit of 1,500,000 provided by Standard Chartered Bank (SCB). Thus comparatively, accident protection insurance package of Standard Chartered Bank (SCB) is better than HSBC.

Car Insurance by Standard Chartered Bank & HSBC

Along with the other insurance facilities of banks, another important insurance cover is provided by both the banks i.e., Standard Chartered Bank and HSBC bank. The Standard Chartered bank provides the clients with a comprehensive cover for car insurance purposes. Also, it intends to provide potential customers with third party coverage for the same. It can be the case of strike, malicious damage, terrorism or the riots etc. This service is hassle free.

The car insurance policy at HSBC provides the customers with both the cover for the damage & the loss. It provides the customers with the preferred repairer as well as the replacement for the vehicle. The life and asset are covered by HSBC in the car insurance policy. The comparison for both is given in the table below:

Benefits	Standard Chartered	HSBC	The third party involved
Cover loss of or damage to the car	✓	✓	Χ
NCD Protector	✓	✓	Χ
“New for Old” Replacement	✓	✓	Χ
Medical Expenses	✓ (5,000)	✓ (6,000)	Χ
Third party cover	✓ (property damage 2,000,000)	✓ (Death or bodily injury 100,000,000 & Property damage 2,000,000)	-

v Comparison by Standard Chartered Bank & HSBC

The comparison of car insurance services is considered for Standard chartered bank and HSBC bank. Both banks policies and sureties are different from each other. The coverage amount of car insurance from both banks is approximately equal. The total difference is $1000 which is caused by HSBC medical expenses. Standard Chartered Bank (SCB) and HSBC both are providing similar benefits as a replacement for old to new, NCD protector, and damage of the car. However, additional medical expenses for passengers given by HSBC makes it a better option as compared to car insurance product offered by Standard Chartered Bank (SCB).