Hanwha Life Insurance, Home Insurance Covering Fire Damage for 3,700 Won per Month

Hanwha General Insurance launched the 'Hanwha 3700 Apartment Household Insurance' on the 22nd, which provides focused coverage for damages to buildings or household goods caused by apartment fire accidents, fire liability, and fire fines, all for a monthly premium of 3,700 KRW.

[Asia Economy Reporter Oh Hyung-gil] Hanwha General Insurance launched the 'Hanwha 3700 Apartment Household Insurance' on the 22nd, which provides focused coverage for damages to buildings or household goods caused by apartment fire accidents, fire liability, and fire fines with a monthly premium of 3,700 KRW.

The product is designed for owner-occupants and tenants, covering property and expense damages as well as liability.

The coverage includes fire damage (building 100 million KRW, household goods 20 million KRW), fire liability (personal injury 150 million KRW, property damage 1 billion KRW), fire fines (20 million KRW), repair costs for 12 major home appliances (1 million KRW), temporary housing expenses due to residential fire (over 4 days, 100,000 KRW per day), and building restoration support (20 million KRW).

As an online long-term insurance product, it can be easily subscribed through the Hanwha Direct website and mobile. The insurance periods are 5 and 10 years.

A Hanwha General Insurance official stated, "In line with the untact financial environment, we planned a mini home fire insurance product that compresses essential coverage for apartment residents in case of fire accidents. We structured the product to minimize customers' legal and economic losses from sudden fire damage, while enhancing customer convenience by enabling easy subscription at reasonable premiums through online channels."