Health & Protection in Hangzhou

The industrializing face of China is not always about coals plants, factories and massive retail stores. Hangzhou, also known as Hangchow, is one of the most prosperous and most beautiful cities in the country. Before packing your belongings to this city, you should think about ways to protect yourself, your loved ones, and your most valuable property and explore the options for insurance in the city. You will learn that even the Hangzhou born Internet giant Alibaba has is entering the world of insurance providers, see what it means for you as you arrive in the city.

Getting Insurance

Most expats working in Hangzhou and other parts of China are provided with comprehensive health insurance package that include dental and optical cover. This employer-sponsored plan supplements that state-mandated social insurance services extended to some qualified foreigners. If you’re holding a Foreigner Work permit, a Foreign Expert Certificate, a Resident Foreign Correspondents Card, a Permanent Residency Permit, or any other evidence of employment in the country you’re automatically covered under China’s social insurance system. Your premiums, which are partly paid by your employer, go to your basic employee pension insurance, basic employee medical insurance, industrial injury insurance, unemployment insurance, and maternity insurance.

If you’re a foreign student who doesn’t qualify for social insurance, you can purchase a private cover from an international private medical insurance company. There are a lot of such companies in Hangzhou.

Commuting in Hangzhou is fairly convenient compared to other parts of China. There’s a reliable network of trains that connect with more than 50 main cities including Beijing and Shanghai. However, if you choose to drive around either with a purchased or rented car, you’d need a third-party liability insurance. If you’re renting a car, the renting company will charge you a fee for a compulsory traffic accident insurance. You’d need to buy it yourself if you’re insuring your own car. This insurance will pay for the treatment of individuals injured in an accident involving your car, as well as damage on third party property.

Hangzhou is one of the real estate havens in China. The demand for properties has recently skyrocketed due to upcoming international events: the G20 summit and the 2022 Asian Games. If you’re buying a home to Hangzhou, you’d need to buy a property insurance for the structure. It’s also advisable to purchase a contents insurance for your personal belongings. If you’re renting, your landlord will take care of the property insurance but you’re still advised to buy a coverage for the contents of your home.

If you need a life insurance, there are global insurance providers in Hangzhou. A travel insurance is recommended if you’re temporarily visiting China and move around a lot. Choose a travel insurance that has a multilingual customer support available 24/7.

Importance of Insurance

China is a massive country. Its fast-growing economy is enticing millions of expats from all parts of the world. There are skilled workers, foreign students, investors and retirees choosing China over Western destinations. Life abroad exposes an expat to various risks such as illnesses, Injuries, property damage or loss and even political turmoil. It’s imperative to have a shield against the financial disaster that can come with these unforeseeable events. An insurance plan will give you and your family peace of mind whether or not these emergencies arise.

Local Insurance in Hangzhou

If you’re not buying a car or a house in Hangzhou, insurance is not compulsory for you. Nevertheless, you’re strongly advised to buy at least a basic private health cover for ambulatory services, in-patient care and certain types of surgical procedures. You should have a travel insurance that include a medical repatriation feature where you’d be flown back home in the event of a serious ailment. Some of the best local insurance companies are China Taiping and People’s Insurance Company of China (PICC).