Carrot Sonbo Launches Per Mile Auto Insurance Product Exclusively for Corporate Vehicles

Carrot General Insurance announced on the 29th that it has launched a corporate vehicle-exclusive subscription product for Per Mile Auto Insurance.

[Asia Economy Reporter Oh Hyung-gil] Carrot General Insurance announced on the 29th that it has launched a per-mile auto insurance product exclusively for corporate vehicles.

The eligible vehicles are those registered under a corporation, and corporations wishing to subscribe can calculate estimated premiums and sign up through the Carrot website.

The driver coverage for corporate products can be selected between 'Employees Only Endorsement' and 'Anyone Can Drive.' For corporate passenger cars, if the 'Employees Only Endorsement' is chosen to limit drivers to employees, tax benefits may be available for the subscription cost.

Compensation for bodily injury, property damage, and own vehicle damage is provided at levels similar to individual products. For Bodily Injury Liability I, compensation is provided within limits of KRW 150 million per person for death or permanent disability and KRW 30 million for injury, while Bodily Injury Liability II can be set to cover damages up to unlimited amounts.

Personal accident coverage also allows selection of compensation limits up to KRW 100 million for death and KRW 50 million for injury. Additionally, through optional deductible selection, compensation is provided excluding the insured's deductible ranging from a minimum of KRW 200,000 to a maximum of KRW 500,000, which is within 20% of the damage amount.

A Carrot General Insurance official stated, "We launched this product reflecting the steady customer demand for auto insurance exclusively for corporate vehicles," adding, "Per-mile auto insurance can be much more reasonable for corporate vehicles that are not driven frequently."

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