Samsung Fire & Marine Insurance "Enhancing Product Competitiveness through Driver Insurance Revision"

[Asia Economy Reporter Changhwan Lee] Samsung Fire & Marine Insurance announced on the 6th that it has revised its driver insurance in line with the increasing domestic travel demand and vehicle operation following the endemic phase.

Driver insurance is a product that provides coverage for costs and damages related to car accidents. Upon subscription, it covers driver fines, traffic accident handling support funds, attorney fees, and more.

Through this revision of driver insurance, Samsung Fire & Marine Insurance has expanded the coverage limit for traffic accident handling support funds and newly established special contracts for wound suture treatment costs and repair cost support for sudden accidents while driving.

First, to provide solid coverage for minor injuries that have increased compared to the past, the coverage limit for traffic accident handling support funds has been expanded. Injuries requiring less than 4 weeks of treatment are covered up to 3 million KRW, and injuries requiring less than 6 weeks of treatment or school zone accidents are covered up to 8 million KRW.

A new 'wound suture treatment cost' coverage, which also compensates for simple sutures, has been added. In cases of wounds or diseases requiring wound suture treatment, up to 1.5 million KRW will be paid. The existing 'injury surgery fee' does not cover simple sutures.

A special contract has also been newly established to cover repair costs caused by sudden accidents while driving, such as roadkill or potholes on national roads.

If the car is damaged and repaired due to a direct collision with a living animal while driving, the actual damage amount will be compensated up to 500,000 KRW per accident. In the case of pothole accidents on national roads, if compensation is paid by the entity managing the road, the actual repair costs incurred will be reimbursed up to 500,000 KRW.

Typically, when a pothole accident occurs, the driver bears the cost directly by applying driver fault or handles it through the vehicle damage coverage of the car insurance.

A Samsung Fire & Marine Insurance official stated, "We revised the product to cover risks arising from strengthened related laws and changes in driving patterns," adding, "We will continue to strive to provide products that reflect the diverse needs of customers."