[Becoming an Insurance Insider] Drunk Driving Increases on 'December and Saturdays'... Liability Reaches 165 Million Won

[Editor's Note] Difficult insurance, a definitive explanation of insurance that remains confusing even after listening to explanations. There is no bad insurance in the world, only insurance that doesn't fit me. Following easy-to-understand insurance explanations is not far from becoming an 'insurance insider.'

[Asia Economy Reporter Oh Hyung-gil] Traffic accidents caused by drunk driving were found to occur most frequently in 'December,' on 'Saturdays,' and between '10 PM and midnight.'

On the 4th, based on data submitted by the National Police Agency and the Korea Road Traffic Authority, Rep. Seo Young-kyo of the Democratic Party analyzed drunk driving accidents from last year and compiled these findings.

The number of accidents caused by drunk driving decreased from 19,517 cases in 2017 to 19,381 in 2018, and 15,708 in 2019. However, from January to August this year, the number of drunk driving accidents was 11,266, a 16.6% increase compared to the first half of last year.

By month, December had the highest number with 1,575 cases (10.0%), followed by November with 1,531 cases (9.7%), showing a relatively high rate toward the end of the year. Regarding fatalities, October recorded 31 deaths (10.5%) and March 30 deaths (10.2%), indicating a higher occurrence during outing seasons.

By day of the week, Saturday had the most cases with 2,782 (17.7%), while fatalities were highest on Thursdays (60 deaths, 20.3%). By time of day, accidents were most frequent between 10 PM and midnight (2,898 cases, 18.4%), and fatalities were highest between midnight and 2 AM (53 deaths, 18.0%).

The age group with the most drunk driving accidents was people in their 20s (3,669 cases, 23.4%), and fatalities were also highest among those in their 20s (69 deaths, 23.4%).

Rep. Seo emphasized, "Although accidents caused by drunk driving had been on a decline, they have recently increased again. This is due to complacent attitudes such as leniency toward drunk driving. As the year-end, when many accidents and fatalities occur, approaches, caution is necessary."

Monthly Status of Drunk Driving Accidents (Source: Office of Seo Young-kyo, Democratic Party of Korea)

Additionally, from this month, those causing drunk driving accidents must pay up to 165 million KRW.

From the 22nd of this month, the deductible for compulsory insurance in drunk driving traffic accidents will increase. Recently, the Financial Supervisory Service announced revisions to the insurance supervision regulations, revising the standard automobile insurance terms in line with the enforcement rules of the Automobile Damage Compensation Guarantee Act.

Until now, when a driver caused an accident while drunk driving, the accident deductible was up to 3 million KRW for Bodily Injury I (damage amount up to 150 million KRW based on death) and 1 million KRW for property damage. The remaining damage costs were paid by the insurance company.

However, going forward, the deductible for Bodily Injury I will increase to 10 million KRW, and for property damage to 5 million KRW. Additionally, for voluntary insurance such as Bodily Injury II (damage amount exceeding 150 million KRW based on death) and property damage (damage exceeding 20 million KRW), new accident deductibles of 100 million KRW and 50 million KRW respectively will be introduced.

For example, if a drunk driving accident results in one death with damages of 400 million KRW, previously the driver paid only 3 million KRW, but now must pay 103 million KRW. If vehicle damage amounts to 80 million KRW, the driver's burden will increase from the previous 1 million KRW to 51 million KRW.

An insurance industry official said, "The enforcement of the 'Yoon Chang-ho Act,' which strengthens drunk driving penalties, appears to have had an effect, but the recent relaxation of crackdowns due to the novel coronavirus (COVID-19) has led to a loosening of vigilance. Since perpetrators must directly compensate a significant portion of victims' damages in drunk driving accidents, special caution is required."

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