Hanwha General Insurance Launches 'Non-Dividend Hanwha 119 Fire Insurance' with Direct Design Option

[Asia Economy Reporter Changhwan Lee] Hanwha General Insurance announced on the 21st that it has launched Hanwha 119 Fire Insurance, which not only compensates for damages caused by fire but also covers risks occurring in daily life, in preparation for the dry winter season when the use of heating appliances is frequent.

This product is a direct insurance that customers can design and subscribe to directly through digital devices, mainly covering damages caused by fire, fines, and liability. It also features the option to add coverage for daily life risks such as inter-floor noise damage, water leakage, and repair of home appliances.

In the case of inter-floor noise, compensation of up to 500,000 KRW is provided once if the measurement results conducted by a noise measurement agency exceed the standard value. Water leakage is covered up to the insured amount limit for damages to the downstairs neighbor or the insured's own home. Repairs for household appliances such as washing machines and computers are covered on an actual expense basis up to an annual limit of 1,000,000 KRW.

The eligible subscription age ranges from 19 to 80 years old, and the insurance period can be selected from 3, 5, 7, or 10 years. The conditions, which previously allowed only apartments to subscribe, have been expanded to include multi-family houses, multi-unit houses, and officetels. The scope of subscribers has also been broadened to include landlords in addition to homeowners or tenants currently residing in the property.

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