Wando-gun Supports Personal Premiums for Weather Disaster Insurance

Insurance Premiums Generally 52.5%, Up to 92%...

Wando County Office (Photo by Wando County)

[Asia Economy Honam Reporting Headquarters Reporter Choi Kyung-pil] Wando-gun, Jeollanam-do (Governor Shin Woo-cheol) announced on the 4th that it is actively encouraging enrollment in wind and flood disaster insurance as a countermeasure to minimize the burden on residents from natural disaster damages.

Wind and flood disaster insurance is a policy insurance designed to compensate for property damage caused by typhoons, heavy snow, strong winds, heavy rain, earthquakes, and other wind and flood disasters. Eligible for enrollment are houses, greenhouses (including vinyl houses), and stores and factories operated by small business owners.

The insurance premium is subsidized at a basic rate of 52.5% for the general public, 75% for the lower-income class, 86.2% for basic livelihood security recipients, and 59% for small business owners. Depending on the financial conditions of local governments, personal insurance premium support can be provided up to 92%.

In particular, starting this year, the national government subsidy rate for small business owners' wind and flood disaster insurance has been raised from the original 25% to 50%, easing the economic burden. Additionally, the insured amount for tenants' inventory assets has been increased from 30 million KRW to 50 million KRW, significantly expanding coverage.

The county plans to actively promote group insurance enrollment, focusing on areas affected by typhoon damage last year.

Residents who wish to enroll individually can visit their respective eup/myeon offices to fill out the enrollment consent form or enroll through private insurance companies selling wind and flood disaster insurance [DB Insurance, Hyundai Marine & Fire Insurance, Samsung Fire & Marine Insurance, KB Insurance, NH Nonghyup Property & Casualty Insurance].

A Wando-gun official said, "Due to recent abnormal weather, wind and flood disaster damages such as typhoons and heavy rains are gradually increasing," and added, "This year, we will actively promote so that many residents can enroll in wind and flood disaster insurance at an affordable cost to minimize damage burdens."

This content was produced with the assistance of AI translation services.