MG Sonbo, Launches Two Types of Property Insurance Covering Property Damage and Injury

On the 1st, MG Insurance announced the launch of 'Seonggong Dream Property Comprehensive Insurance' and 'Business Owner Seonggong Dream Property Comprehensive Insurance,' property insurance policies that cover everything from property damage to liability, expense loss, and injury.

[Asia Economy Reporter Oh Hyung-gil] MG Insurance announced on the 1st that it has launched the property insurance products 'Success Dream Comprehensive Property Insurance' and 'Business Owner Success Dream Comprehensive Property Insurance,' which cover everything from property damage to liability, expense loss, and injury.

The Success Dream Comprehensive Property Insurance covers risks occurring at various business sites such as residential, general, and factories. In the case of injury, it covers accidental death, permanent disability due to injury, as well as injury hospitalization expenses, injury surgery expenses, fracture diagnosis fees (excluding tooth fractures), and fracture surgery expenses. The actual loss compensation limit for factories has been newly set up to a maximum of 1 billion KRW, and coverage competitiveness has been enhanced by adding coverage for water supply and drainage facility leakage damage, and landlord's (fire) rental loss, thereby strengthening housing-related coverage.

The Business Owner Success Dream Comprehensive Property Insurance is a product that covers various risks arising from operating general business sites, and it features applying insurance premiums according to the type of business the customer actually operates. Unlike existing property insurance, it does not require subscribing based on the riskiest business type within the same building, so customers do not pay premiums higher than the risk level of their own business site.

The insurance period is available in terms of 3, 5, 10, or 15 years. When subscribing, if a fire extinguisher is installed, a fire extinguisher discount system offers about a 3% discount on premiums for certain coverages, and a maturity maintenance bonus system pays an additional 2-4% of the prepaid premium at maturity.

An MG Insurance official said, "We aimed to protect customers' safety by covering various risks encountered while operating business sites," adding, "Through property insurance, customers can select property insurance tailored to the characteristics of their business sites and reduce their premium burden with premium discount benefits."

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