Hyundai Marine & Fire Insurance Expands Discount Eligibility for Vehicles Equipped with Advanced Safety Devices

Hyundai Marine & Fire Insurance announced on the 20th that it has revised its automobile insurance product, the 'Advanced Safety Device Installation Discount Special Contract,' to include the 'Around View Monitor (AVM)' as a discount target.

With this revision, individuals can receive up to a 14.2% discount and commercial users up to 15% off their insurance premiums based on the number of advanced safety devices installed. This will apply to contracts with coverage starting on or after the 21st.

The Around View Monitor is a device that provides footage captured by cameras installed on the vehicle to a monitor inside the car. It offers drivers a 360-degree bird’s-eye view of the vehicle’s surroundings, helping to reduce the risk of accidents during parking or driving through narrow alleys.

On June 1st, Hyundai Marine & Fire Insurance was the first in the industry to add the ‘Rear Side Collision Warning Device’ and ‘Head-Up Display (HUD)’ to the discount targets, offering up to a 12% discount based on four safety devices. With the newly added Around View Monitor, customers can now receive discounts for up to five advanced safety devices.

A Hyundai Marine & Fire Insurance representative said, “As various advanced safety devices are released and their safety effectiveness is proven, we are continuously improving our products to allow premium discounts centered on these advanced safety devices. We will continue to strive to reduce insurance premium burdens through elements that are effective in preventing accidents.”