Coverage for Various Bicycle Accidents... Possible Overlap of Insurance Benefits
Yeongju City in Gyeongbuk is playing the role of a "safety net" by providing bicycle insurance to all citizens to compensate for damages caused by unexpected bicycle accidents.
Since 2016, the city has automatically enrolled all citizens in bicycle insurance every year to support compensation for damages caused by bicycle accidents. Last year, 58 citizens received a total coverage of 20 million KRW, and this year, 48 citizens received a total coverage of 30 million KRW.
Bicycle insurance is automatically applied to all citizens registered as residents in Yeongju City without any separate enrollment procedures or insurance premium burdens. Coverage is possible regardless of the accident location and can overlap with other insurances. Claims can be made within three years from the date of the accident.
The newly renewed Yeongju City bicycle insurance as of the 27th has expanded coverage. The diagnosis consolation payment has increased by 50,000 KRW, with 150,000 KRW paid for diagnoses over 4 weeks and 350,000 KRW for diagnoses over 8 weeks. Additionally, the hospitalization consolation payment condition has been relaxed from 200,000 KRW for hospital stays of 7 days or more to 150,000 KRW for stays of 6 days or more.
The bicycle insurance coverage includes seven items: ▲ 5 million KRW for death caused by bicycle traffic accidents ▲ up to 5 million KRW for permanent disability ▲ diagnosis consolation payment of 150,000 KRW for over 4 weeks and 350,000 KRW for over 8 weeks ▲ 150,000 KRW for diagnosis over 4 weeks and hospitalization over 6 days ▲ up to 20 million KRW for fines related to bicycle accidents ▲ 2 million KRW for attorney fees for bicycle accident cases ▲ up to 30 million KRW for support funds related to bicycle traffic accident handling.
Compensation covers accidents occurring while directly riding or boarding a bicycle, as well as injuries caused by bicycles while walking. However, in the case of permanent disability, insurance payments depend on the degree of injury according to the disability grading table, and those under 15 years old are excluded from death compensation.
A city official stated, “We will do our best to ensure that citizens can use bicycles with greater peace of mind by preparing for unexpected accidents through bicycle insurance.”
For more details, contact DB Insurance Bicycle Insurance or the Safety Policy Team of the Safety and Disaster Division at Yeongju City Hall.
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