HSBC Auto Insurance Review (2020)
In our HSBC auto insurance review, we'll explain why HSBC no longer offers auto insurance to new customers. While existing HSBC customers can receive auto insurance, new customers will need to explore other options. Need coverage fast? Save up to 20 percent on your next policy by comparing quotes online.
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Written by
Mathew B. Sims
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Reviewed by
Daniel Walker
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UPDATED: Sep 21, 2020
It’s all about you. We want to help you make the right coverage choices.
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Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
- UPDATE: Hongkong and Shanghai Banking Corporation (HSBC) Bank no longer offers HSBC auto insurance to new customers.
- HSBC Bank offers its Home and Auto Security Plan through American Traveler Motor Club, Inc.
- The Home and Auto Security Plan offers protection for home, legal expenses, and health benefits, in addition to auto insurance.
- The Home and Auto Security Plan also covers emergency living expenses, stolen car expenses, and registered key tags.
In this HSBC auto insurance review, we’ll discuss HSBC Bank’s Home and Auto Security Plan through American Traveler Motor Club, Inc., which provides auto-related insurance programs through financial institutions in the United States and Canada.
When an HSBC customer buys a car, they can also purchase HSBC auto insurance through the company’s affiliate. Wondering what you should buy? We’ll discuss the types of auto insurance coverage as well.
If you want to search for coverage outside of HSBC car insurance, we can help you compare auto insurance rates from the top car insurance companies in your area. Just enter your ZIP code above to get started.
HSBC Auto Insurance Locations
HSBC is a worldwide banking corporation that got into auto insurance a few years ago. However, the corporation has since suspended selling auto insurance to new customers.
Watch this HSBC commercial for more insight into the company.
HSBC Bank provides banking products all over the United States.
There are HSBC branches in:
- New Jersey
- New York
- Connecticut
- Pennsylvania
- Washington, D.C.
- California
- Florida
- Maryland
- Virginia
- Delaware
- Illinois
- Washington
- Oregon
The bank provides auto insurance as well, through its Home and Auto Security Plan. The Home and Auto Security Plan is not available in all states. According to the Insurance Information Institute, each state has a unique minimum requirement for car insurance.
Let’s look at what you could pay for auto insurance in the states where HSBC branches are located.
| States with HSBC | Average Annual Auto Insurance Rates | Average Monthly Auto Insurance Rates |
|---|---|---|
| Virginia | $859 | $72 |
| Illinois | $895 | $75 |
| Oregon | $932 | $78 |
| Pennsylvania | $986 | $82 |
| Washington | $985 | $82 |
| California | $1,004 | $84 |
| Maryland | $1,145 | $95 |
| Connecticut | $1,191 | $99 |
| Delaware | $1,248 | $104 |
| Florida | $1,293 | $108 |
| Washington, D.C. | $1,364 | $114 |
| New York | $1,384 | $115 |
| New Jersey | $1,405 | $117 |
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According to the National Association of Insurance Commissioners (NAIC), you could pay less than $1,500 per year or less than $120 per month for full coverage auto insurance. The cheapest states for auto insurance are Virginia, Illinois, and Oregon.
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HSBC Bank Auto Insurance Quotes
If a new car loan customer wants an HSBC auto insurance quote, they can refer to the company’s website. The quote tool asks for the customer’s state, coverage desired, and the policy’s term length.
Once the information has been submitted, the quote will be generated almost instantly. The customer can locate an HSBC representative at 1-800-975-HSBC to discuss more details about fast ways save on car insurance quotes.
The Home and Auto Security Plan offers coverage for home, legal expenses, health care, and auto insurance.
For cars, the plans can cover the following:
- Unlimited emergency towing
- Roadside service
- Emergency locksmith service
- Deductible reimbursement
- Theft reward benefits
Policyholders will also receive emergency medical expenses and transportation benefits and ambulance and paramedic expense reimbursement.
The Home and Auto Security Plan also covers emergency living expenses, stolen car expenses, and registered key tags. For insured travelers, HSBC provides personalized trip routing service and professional travel services and discounts.
HSBC Auto Insurance Claims
When a customer needs to file a claim, the HSBC Bank website will guide them through the proper procedure for filing an auto insurance claim.
If an accident occurs, the claimant should file a police report and gather as much information as possible from the other driver(s) and any available witnesses.
If possible, provide photos of the damage for the insurance adjuster, and have the policy number handy when the initial call is made to HSBC to report the accident.
HSBC Bank Customer Service
HSBC offers several ways for its customers to simplify their account management. EasyView allows a customer to see all of their accounts, financial and otherwise — whether HSBC or non-HSBC — on one page.
The free Bill Pay service makes it easy for auto insurance customers to pay their premiums online.
It’s also possible to set up alerts and reminders for payment due dates.
EasyView is a free service for Bill Pay customers. Customers can call 1-800-975-4722 with any questions about EasyView. Representatives are available to help 24 hours a day, seven days a week.
Find the best auto insurance companies by entering your ZIP code in the FREE comparison tool.
Free Auto Insurance Comparison
Enter your ZIP code below to view companies that have cheap auto insurance rates.
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HSBC Bank Careers
HSBC provides opportunities for employees that can mean travel or relocation across the country or worldwide. HSBC’s website contains a tab with extensive information for both job seekers and current employees.
Information seekers can choose to explore HSBC’s areas of opportunity by finding out more about the various business lines, and they can also search for local job openings.
HSBC sponsors two-year graduate programs for college graduates interested in furthering their finance careers. HSBC actively recruits candidates who demonstrate leadership qualities.
Candidates who are chosen for the graduate programs find that their experience at HSBC provides them with a platform to launch a rewarding career. Instructions for how to apply to these programs are available on the HSBC website under “Careers.”
For undergraduates, HSBC offers internships periodically. It is not a formal internship program, but opportunities are available from time to time, depending on the needs of the company.
Students seeking internships can visit the HSBC website, search for “intern” as a keyword, and apply online.
For those who have lost their jobs due to corporate restructuring, there’s a link on the HSBC website that will allow them to search and apply for internal positions or find additional information about their situations.
If you’re tired of searching “auto insurance near me” and scrolling through thousands of options, look no further. You can find car insurance near you by entering your ZIP code in the FREE comparison tool below.
Free Auto Insurance Comparison
Enter your ZIP code below to view companies that have cheap auto insurance rates.
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HSBC Auto Insurance: The Bottom Line
As an HSBC bank customer, you’ll have auto and home insurance options. However, new customers won’t be able to get auto insurance. There are other ways to find affordable car insurance.
Those who do have HSBC auto insurance will have access to HSBC car insurance claims and other services related to auto insurance coverage.
If you need auto insurance, enter your ZIP code below to find affordable rates available near you.
Frequently Asked Questions: HSBC Auto Insurance Review
Let’s answer a few questions to wrap up our HSBC auto insurance review. These questions appear on popular search engines across the internet.
#1 – Is HSBC a reputable bank?
HSBC is a reputable bank. It’s been in business since 1865. However, there are a lot of conflicting reviews online.
#2 – What is the most reliable car insurance company?
According to Investopedia, Amica Mutual, USAA, Progressive, and Erie Insurance are the most reliable insurance companies.
#3 – Is HSBC the worst bank?
No. According to The Fiscal Times, Bank of America is the worst bank.