[한국방송/김국현기자] The financial authorities have decided to expedite auto insurance compensation in relation to vehicle flood damage caused by the recent heavy rain.
The Financial Services Commission (FSC) said on the 10th, “It usually takes 10 days from the filing of the accident to the payment of the insurance money, but the non-life insurance industry plans to pay the insurance money as quickly as possible for the damage caused by the heavy rain.”
“If you subscribe to the auto insurance policy for damage to your vehicle, you can be covered for damage to your vehicle due to flooding, etc.
The main types of coverage are ▲ in case of a flood accident while parking in an apartment parking lot ▲ in case the vehicle is damaged due to a typhoon or flood ▲ in case the vehicle is damaged due to being swept away by water while passing through a flooded area.
The owner of the flooded vehicle reports the accident to the insurance company, and if the vehicle is repaired and claims for insurance money, the insurance money is paid following a damage assessment, etc.
However, damage caused by opening the sunroof or by deliberately passing the access control area may not be covered.
In addition, if you do not subscribe to the ‘Compensation for Damages from Single Vehicle Accidents’ special agreement among your vehicle damage collateral, repair costs that exceed the value of the vehicle, or damage caused to items left in the vehicle, it is difficult to pay the insurance money.
Insurance companies plan to faithfully inform auto insurance subscribers, accident receivers, and owners of flooded towed vehicles regarding how to deal with vehicle damage, insurance details, and expedited payment procedures through text messages.
The insurance industry is operating a comprehensive response situation team led by the Non-life Insurance Association and is preparing a temporary storage place for flooded vehicles.
In particular, if a vehicle is replaced with a new vehicle due to total damage to the vehicle, a partial reduction in acquisition tax can be obtained if the insurance company issues a ‘certificate of total vehicle damage’.
Inquiries: Insurance Division, Financial Services Commission (02-21002964)
