All Residents of Gangbuk-gu Eligible for Bicycle Insurance Benefits

Insurance Claims Available Until March 31, 2022, for Gangbuk-gu Residents... Applicable Nationwide... Coverage Includes Injury Diagnosis, Hospitalization Over 4 Weeks, Death, and Sequelae

[Asia Economy Reporter Park Jong-il] Gangbuk-gu (Mayor Park Gyeom-su) plans to renew bicycle insurance for all residents in April.

The purpose is to ensure that many residents can use bicycles with peace of mind by preparing for safety accidents.

The district revised the "Ordinance on the Promotion of Bicycle Use in Gangbuk-gu, Seoul" in 2018 to establish the basis for insurance, allowing residents to enjoy benefits every year.

All people with an address in Gangbuk-gu are automatically enrolled in the insurance without any separate procedures, and residents who move in during the coverage period are also included.

The coverage period is from April 1 this year to March 31 next year, during which insured persons are covered nationwide.

In case of a bicycle accident, coverage includes ▲300,000 KRW for death ▲up to 300,000 KRW for permanent disability ▲100,000 to 500,000 KRW for injuries requiring more than 4 weeks of treatment ▲100,000 KRW for hospitalization consolation money (diagnosis over 4 weeks, hospitalization over 7 days) ▲up to 20,000,000 KRW for bicycle accident fines ▲up to 2,000,000 KRW for attorney fees ▲up to 30,000,000 KRW for accident handling support funds. However, those under 15 years old are excluded from death coverage, and those under 14 years old are excluded from fine and attorney fee support.

Insurance claims can be filed within 3 years from the date of the accident, and payments can be received in conjunction with other personal insurance policies. After submitting the claim form, diagnosis, and other required documents to the insurance company, the insured’s bank account will be credited following review.

Mayor Park Gyeom-su of Gangbuk-gu said, “We have prepared bicycle insurance to ensure that residents can safely use bicycles, which are gaining attention as an eco-friendly means of transportation,” and added, “We will continue to strive to develop policies that help residents’ transportation convenience.”

For insurance claims or detailed inquiries, contact the Gangbuk-gu Office Transportation Administration Division or DB Insurance by phone.