Seocho-gu Expands Bicycle Insurance Coverage... 971 Residents Compensated Over 7 Years

Duplicate Compensation Possible with Personal Indemnity Insurance

Seocho-gu, Seoul (Mayor Jeon Seong-su) operates the 'Seocho-gu Residents Bicycle Insurance' to prepare for unexpected bicycle accidents involving residents.

The insurance period runs from March this year to February next year, and residents registered in Seocho-gu at the time of the accident are automatically enrolled without any separate procedures. Benefits can be received for bicycle accidents occurring anywhere nationwide.

Provided by Seocho-gu.

The district has been implementing residents' bicycle insurance since 2018, and over the past seven years, a total of 971 residents have received compensation amounting to more than 370 million KRW.

This year, the coverage amount for death and permanent disability has been increased by 5 million KRW each compared to last year, allowing residents to receive more reliable protection. Detailed coverage includes ▲ up to 10 million KRW for death and permanent disability ▲ diagnosis consolation money of 200,000 to 600,000 KRW for treatment lasting more than 4 weeks ▲ hospitalization consolation money of 200,000 KRW for those hospitalized for 6 days or more who are eligible for diagnosis consolation money ▲ fines up to 20 million KRW ▲ attorney fees up to 2 million KRW ▲ traffic accident handling support fund up to 30 million KRW, etc.

Death, permanent disability, diagnosis, and hospitalization consolation money can be claimed in conjunction with personal indemnity insurance. Accidents occurring during the insurance period can be claimed within 3 years from the date of the accident. In case of a bicycle accident, related supporting documents can be submitted through phone consultation with DB Insurance.

Mayor Jeon Seong-su said, “I hope the Seocho-gu Residents Bicycle Insurance will be of some help to residents who have experienced bicycle accidents,” and added, “We will continue to take responsibility for the safety of residents and strive to create a better environment for bicycle use.”