Chungnam Supports Farmers' Safety Insurance Premiums with Up to 90% Coverage

[Asia Economy (Hongseong) Reporter Jeong Il-woong] Chungnam Province will support up to 90% of the subscription fee for Agricultural Safety Insurance.

The province announced on the 24th that it will support disaster insurance subscriptions so that farmers can prepare for accidents occurring during farm work.

The total budget allocated for subscription support is 29.3 billion KRW. The insurances eligible for support include the "Agricultural Safety Disaster Insurance," which compensates for injuries, illnesses, disabilities, or death occurring during farm work, and the "Comprehensive Agricultural Machinery Insurance," which covers damages to agricultural machinery, personal injury, and liability for bodily injury and property damage.

Agricultural Safety Insurance is available to farmers aged 15 to 87 who are registered as agricultural business entities and is divided into a general type and an industrial accident type that provides coverage equivalent to industrial accident insurance.

The annual premium for the general type 1 is approximately 101,000 KRW. Of this, 75% to 90% of the total premium is supported by city and county governments, and compensation for death due to farm work accidents can be up to 60 million KRW.

The Comprehensive Agricultural Machinery Insurance supports 80% of the premium for those who own or manage the insured agricultural machinery (12 types). For example, for a tractor, paying 20% of the 505,000 KRW premium, which is 101,000 KRW, entitles the insured to compensation up to 50 million KRW in case of total loss.

Insurance subscriptions can be applied for year-round at nearby regional agricultural cooperatives and product-specific agricultural cooperatives.

Over the past three years, the number of cases where insurance premiums were paid due to farm work-related accidents totaled 83,858, with a total compensation amount of 49.3 billion KRW paid to these farms.

Im Seung-beom, Director of the Agriculture, Forestry and Livestock Bureau of the province, said, "Farmers are not included in the industrial accident insurance subscription target, so subscribing to agricultural safety insurance is essential," and added, "We will actively promote to ensure timely subscription without missing the subscription period."

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