HSBC Auto Insurance Review (2024)

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.

UPDATED: Dec 19, 2023Fact Checked

Leslie Kasperowicz

Farmers CSR for 4 Years

Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insuranc...

Farmers CSR for 4 Years

Schimri Yoyo

Licensed Agent & Financial Advisor

Schimri Yoyo is a financial advisor with active insurance licenses in seven states and over 20 years of professional experience. During his career, he has held roles at Foresters Financial, Strayer University, Minnesota Life, Securian Financial Services, Delaware Valley Advisors, Bridgemark Wealth Management, and Fidelity.  Schimri is an educator eager to assist individuals and families in ach...

Licensed Agent & Financial Advisor

UPDATED: Dec 19, 2023

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

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.

UPDATED: Dec 19, 2023

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

UPDATED: Dec 19, 2023Fact Checked
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HSBC

Average monthly rate for good drivers:

$83

A.M. Best rating:

N/A

Complaint level:

High

Pros

  • HSBC has been in business since 1865

Cons

  • There are a lot of conflicting reviews online

Final Verdict: Review of HSBC

UPDATE: Hongkong and Shanghai Banking Corporation (HSBC) Bank no longer offers HSBC auto insurance to new customers.

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.

[su_box title="Things To Remember" style="default"]
  • 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.
[/su_box] 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.

What You Should Know About HSBC

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

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 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.

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.

HSBC Insurance Coverage Options

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.

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HSBC Insurance Rates Breakdown

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.

Average Auto Insurance Rates of States with HSBC Bank Auto Insurance
States with HSBCAverage Annual Auto Insurance RatesAverage 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

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.

Frequently Asked Questions

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.

What is the most reliable car insurance company?

According to Investopedia, Amica Mutual, USAA, Progressive, and Erie Insurance are the most reliable insurance companies.

Is HSBC the worst bank?

No. According to The Fiscal Times, Bank of America is the worst bank.

Can I manage my HSBC auto insurance policy online?

Yes, HSBC provides online account management tools that allow customers to manage their auto insurance policies conveniently. You can access your policy details, make payments, view documents, and update information through the online portal or mobile app.

Can I customize the coverage limits and deductibles on my HSBC auto insurance policy?

Yes, HSBC typically allows customers to customize their coverage limits and deductibles based on their needs and preferences. You can discuss your coverage options and adjust the limits and deductibles with an HSBC representative when purchasing or renewing your policy.

Does HSBC offer roadside assistance coverage?

Yes, HSBC’s Home and Auto Security Plan includes roadside assistance coverage. This coverage can provide services such as emergency towing, flat tire changes, battery jump-starts, and fuel delivery in case of a breakdown or roadside emergency.

Can I transfer my existing auto insurance policy to HSBC if I become an HSBC banking customer?

If you become an HSBC banking customer, you may have the opportunity to transfer your existing auto insurance policy to HSBC, subject to their policies and eligibility criteria. Contact HSBC directly to inquire about the process and requirements for transferring your policy.

Does HSBC offer gap insurance?

Gap insurance, which covers the difference between the actual cash value of a vehicle and the remaining balance on an auto loan or lease, may be available through HSBC. Gap insurance helps protect you financially in case of a total loss. It’s recommended to check with HSBC to confirm the availability and details of their gap insurance coverage.

Free Auto Insurance Comparison

Enter your ZIP code below to view companies that have cheap auto insurance rates.

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Leslie Kasperowicz

Farmers CSR for 4 Years

Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insuranc...

Farmers CSR for 4 Years

Schimri Yoyo

Licensed Agent & Financial Advisor

Schimri Yoyo is a financial advisor with active insurance licenses in seven states and over 20 years of professional experience. During his career, he has held roles at Foresters Financial, Strayer University, Minnesota Life, Securian Financial Services, Delaware Valley Advisors, Bridgemark Wealth Management, and Fidelity.  Schimri is an educator eager to assist individuals and families in ach...

Licensed Agent & Financial Advisor

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.

Compare Quotes from Top Companies and Save

Enter your ZIP code below to view companies that have cheap auto insurance rates.

secured lock Secured with SHA-256 Encryption