Hanah Sonbo, 'One Day Car Insurance' Surpasses 4 Million Cumulative Subscriptions

Hana Insurance announced on the 7th that the cumulative number of subscriptions for its One-Day Car Insurance has surpassed 4.4 million as of the end of last month.

One-Day Car Insurance is a "daily" car insurance product launched by Hana Insurance in 2012, mainly used when driving a family member’s, acquaintance’s, or rental car. It can be easily subscribed to via smartphone for 24 hours, and the number of subscribers surges especially during the summer vacation season or periods with increased outdoor activities.

Typically, when driving someone else’s car, people use the "Short-Term Driver Extension Rider" to change the driver coverage of the vehicle owner’s car insurance. However, since the insurance coverage starts from 24:00 on the subscription day, it must be subscribed at least one day in advance, and the vehicle owner must make the change directly. Hana Insurance explained that although One-Day Car Insurance is a short-term insurance for temporary use, it offers substantial coverage benefits and takes effect immediately upon subscription. Subscribers can choose to subscribe for as many days as needed, up to a maximum of 7 days.

Moreover, while the Short-Term Driver Extension Rider increases the insurance premium of the vehicle owner who is not the accident party, One-Day Car Insurance does not cause any premium increase for the insured.

Hana One-Day Car Insurance is available for foreign cars, vans, and trucks (under 1 ton), and the subscription age starts from 20 years old. Coverage options include Bodily Injury Liability (Bodily Injury II), Property Damage Liability, Personal Injury Protection, Injury caused by uninsured vehicles, Other Vehicle Repair Costs, Bodily Injury Liability I Support Rider, and Legal Expense Support Rider. The property damage liability limit is 100 million KRW, and the deductible for other vehicle repair costs is 500,000 KRW.