Sejong City Encourages Subscription to Wind and Flood Damage Insurance and Provides Premium Support

[Asia Economy (Sejong) Reporter Jeong Il-woong] Sejong City is encouraging local citizens to subscribe to flood and windstorm insurance while supporting part of the insurance premium.

According to the city on the 7th, flood and windstorm insurance is a type of policy insurance where the government and local governments support more than half of the insurance premium to compensate for property damage caused by natural disasters such as typhoons, heavy rain, and earthquakes.

The eligible subjects for flood and windstorm insurance are ▲houses ▲greenhouses (including vinyl greenhouses) ▲stores and factories (small business owners), and the insured receive support covering 52.5% to 92% of the total insurance premium.

Through this, in Sejong, there was a case in August 2018 where a house subscriber suffered damage due to ground subsidence caused by heavy rain, resulting in the house being completely destroyed, but received compensation of 45 million KRW through flood and windstorm insurance (insurance premium 10,100 KRW).

In particular, the city emphasizes that basic livelihood security recipients and lower-income groups have their insurance premiums fully exempted (100%) through support from the city and sponsoring organizations, making the insurance subscription highly effective.

Applications for flood and windstorm insurance can be made at insurance companies or at the Eup, Myeon, Dong community service centers. For more detailed information, inquiries can be made through the Eup, Myeon, Dong community service centers and the city's Disaster Management Division flood and windstorm insurance department.

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