Following KB Insurance, Hyundai Marine & Fire Insurance also lowers auto insurance premiums by 2.0%
Applied from the responsibility commencement contract at the end of February next year
[Asia Economy Reporter Minwoo Lee] Following KB Insurance, Hyundai Marine & Fire Insurance has also decided to lower automobile insurance premiums.
Hyundai Marine & Fire Insurance announced on the 21st that it will reduce personal automobile insurance premiums by 2.0%. The reduction applies to contracts with coverage starting on or after February 26, 2023.
A Hyundai Marine & Fire Insurance official stated, "We lowered automobile insurance premiums considering the decreased accident rates and the effects of automobile insurance system improvements," adding, "We will continue to lead in improving customer service along with various premium discount benefits."
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Meanwhile, earlier on the same day, KB Insurance also announced that it would reduce personal automobile insurance premiums by about 2.0% for contracts with coverage starting from February 25 next year. Although the automobile insurance market next year is not optimistic due to increased traffic from eased social distancing and rising insurance costs, the premium reduction was decided as a measure to share the economic burden of customers amid high inflation.
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