Kakao Pay Insurance Sees Mobile Phone Insurance Subscribers Surge 12.5 Times in 2 Years... Launches First Month Premium at 100 Won Event

100 Won Premium for First Month on All iPhone and Galaxy Models Until May 31

Coverage Limit Raised to 5 Million Won Reflects High Repair Cost Environment

Kakao Pay Insurance announced on April 29 that it is launching a "First Month Premium at 100 Won" event as a gesture of appreciation to customers, following a surge in mobile phone insurance subscribers.

The event runs until the 31st of next month, and users who sign up for mobile phone insurance during this period will only need to pay 100 won for the first month's premium. All iPhone and Galaxy models are eligible, and the offer applies equally to self-purchased devices and budget phone users, regardless of carrier. The event is designed to lower the initial barrier to entry, allowing more users to experience the service.

Amid the recent trend of increasing users, the cumulative number of mobile phone insurance subscribers as of last month increased by 1,148% compared to March 2024. Annually, the number rose by 371% from 2024 to last year, and by 165% from last year to this year, maintaining triple-digit growth rates each year.

Kakao Pay Insurance recently expanded the compensation limit for mobile phone insurance to a maximum of 5 million won, thereby strengthening its competitive edge in coverage. This measure reflects the ongoing increase in smartphone retail prices and repair costs due to rising semiconductor prices and manufacturing costs.

In particular, since premium smartphone prices exceed 3 million won, the coverage is designed to sufficiently cover the significant repair costs that arise in cases of complex damage to screens, cameras, and mainboards. This change reflects the sharp rise in accidents exceeding the previous compensation limit.

A representative from Kakao Pay Insurance commented, "Interest in mobile phone insurance continues to increase as smartphone prices and repair costs rise," adding, "We prepared this event so that more users can experience the service without burden, in line with the growing user base."

Meanwhile, Kakao Pay Insurance's mobile phone insurance allows users to customize their coverage terms. By selecting the number of repair claims (2 to 5 times) and deductible rates (10% to 40%), premiums are calculated accordingly. The policy is open to self-purchased device and budget phone users, regardless of carrier.

The insurance is structured so that repeated coverage is possible within the set limit for each incident, reducing the burden of repair costs. For example, if a 10% deductible (minimum 30,000 won) is chosen, 90% of the repair cost is covered for each incident. As of last month, 98% of subscribers had opted for the 10% deductible.

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