Gwangju Seo-gu Enrolls All Residents in 'Bicycle Insurance'... Coverage Up to 30 Million KRW

[Asia Economy Honam Reporting Headquarters Reporter Shin Dong-ho] Residents of Seo-gu, Gwangju Metropolitan City can now receive up to 30 million KRW in coverage in case of an accident while riding a bicycle.

Seo-gu, Gwangju Metropolitan City (District Mayor Seo Dae-seok) announced on the 2nd that it has enrolled all residents (including foreigners) in bicycle insurance.

The newly enrolled bicycle insurance is intended to ensure the safety of residents using bicycles and to prepare for unforeseen accidents, and it is applied uniformly without any separate enrollment procedures.

In case of an accident caused by a bicycle, coverage includes 10 million KRW for death (excluding those under 15 years old), up to 10 million KRW for accident-related disabilities, 100,000 KRW for hospitalization consolation money, and injury diagnosis consolation money ranging from 100,000 KRW to a maximum of 500,000 KRW for diagnoses of 4 weeks or longer (based on the initial diagnosis).

Additionally, if a cyclist causes injury to another person, fines up to 20 million KRW, attorney fees up to 2 million KRW, and traffic accident handling support funds up to 30 million KRW can be received.

To claim insurance benefits, the victim or legal heir must submit a claim form along with relevant supporting documents to the insurance company when the claim event occurs.

For more details, please check the notice section on the Seo-gu Office website of Gwangju Metropolitan City (search for ‘Seo-gu Residents Bicycle Insurance Enrollment Guide’) or contact DB Insurance for guidance.

A Seo-gu official stated, “With the increase in bicycle users due to social distancing caused by COVID-19, we hope that this enrollment of bicycle insurance for all residents will reduce the economic burden on residents in case of unexpected accidents and help maintain the growing trend of bicycle use.”

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