Sejong City Urges Enrollment in Flood and Windstorm Insurance... Up to 92% Premium Support Provided

Recovery work is underway at farms in Jungsan-myeon, Gimcheon-si, which were damaged by last year's typhoon. The photo is unrelated to the article. Source=Asia Economy DB (Provided by Gimcheon-si)

[Asia Economy (Sejong) Reporter Jeong Il-woong] Sejong City has urged residents to subscribe to flood and wind disaster insurance.

On the 30th, the city announced that it is encouraging citizens to enroll in flood and wind disaster insurance in preparation for the summer rainy season and typhoons.

Flood and wind disaster insurance is a policy insurance that compensates for damages such as destruction and flooding caused by nine types of natural disasters: typhoons, heavy rain, floods, strong winds, wind waves, tidal waves, heavy snow, earthquakes, and earthquake-induced tsunamis.

The city emphasizes that the insurance premium is supported up to 92% by the national and local governments, and basic livelihood security recipients and lower-income groups can receive full premium support without any out-of-pocket expenses, making the burden of subscribing to insurance low.

Anyone residing in Sejong City can subscribe to the insurance, and the coverage includes houses, greenhouses (vinyl houses), small business stores, factories, fixtures, supplies, machinery, and inventory assets. In particular, tenants of facilities can also subscribe to the insurance.

The annual premium that subscribers must pay varies depending on the region, area, and compensation limits. However, based on 90% coverage, a house of 80㎡ requires an annual premium of 16,000 KRW, and a greenhouse of 1,000㎡ requires 102,000 KRW annually to receive insurance benefits. For stores, with a compensation limit of 100 million KRW, the annual premium is about 38,000 KRW.

For more detailed information about subscription, residents can inquire at the Eup, Myeon, and Dong community centers or contact the flood and wind disaster insurance officer at the city's Disaster Management Division.

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