Traditional current transformers (CTs) suffer from DC and AC saturation and remanent magnetization in many industrial applications. Moreover, the drawbacks of traditional CTs, such as closed iron cores, bulky volume, and heavy weight, further limit the development of an intelligent power protection system. In order to compensate for these drawbacks, we proposed a novel current measurement method by using Hall sensors, which is called the Hall-effect current transformer (HCT). The existing commercial Hall sensors are electronic components, so the reliability of the HCT is normally worse than that of the traditional CT. Therefore, our study proposes a redundancy mechanism for the HCT to strengthen its reliability. With multiple sensor modules, the method has the ability to improve the accuracy of the HCT as well. Additionally, the proposed redundancy mechanism monitoring system provides a condition-based maintenance for the HCT. We verify our method with both simulations and an experimental test. The results demonstrate that the proposed HCT with a redundancy mechanism can almost achieve Class 0.2 for measuring CTs according to IEC Standard 60044-8.