DB Insurance Lowers Car Insurance Premiums by 2.5%... Average Decrease of 22,000 KRW per Person
DB Insurance will reduce personal automobile insurance premiums by 2.5% starting from mid-February next year.
On the 20th, DB Insurance announced that it had decided to lower automobile insurance premiums. As a result, the average premium per subscriber will decrease by about 22,000 KRW.
After preparations including verification of premium rates, the reduced premiums will be applied to contracts starting mid-February next year. There will be no changes to commercial and business-use automobile insurance premiums.
Thus, automobile insurance premiums will decrease again about one year after the last reduction in February.
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A DB Insurance official explained, "Although an increase in accident rates and repair costs is expected to raise insurance costs, we decided to reduce automobile insurance premiums as a part of shared financial support to ease the burden on the low-income economy amid inflation and high interest rates."
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