Compensation for Subway Delays Over 30 Minutes in the Seoul Metropolitan Area
Up to 30,000 Won Once a Month... Claims Must Be Filed Within 7 Days
An insurance policy has been introduced in the Seoul metropolitan area?including Seoul, Gyeonggi, and Incheon?that compensates taxi fares when the subway is delayed by more than 30 minutes.
According to the industry on June 13, Samsung Fire & Marine Insurance has launched, for the first time in the industry, the "Metropolitan Subway Delay Insurance," which covers alternative transportation expenses?such as taxi or bus fares?up to 30,000 won (once per month) if the metropolitan subway is delayed by more than 30 minutes. According to major transportation statistics from the Seoul Metropolitan Government, the average taxi fare per ride was 13,221 won.
With a one-time premium payment of 1,400 won, coverage is provided for one year. In addition, T-money transportation card users will soon be able to enroll for free. After agreeing to sign up through T-money, users can claim insurance benefits from Samsung Fire & Marine Insurance if the relevant situation occurs.
To claim insurance benefits, users must pay for taxi or other alternative transportation within two hours after leaving the metropolitan subway, and submit the transportation card number (to verify subway boarding and alighting records) and transportation receipts within seven days of the ride. This insurance only compensates for delays on the metropolitan subway. If more than seven days have passed since the incident or if the receipts are unreadable, payment may be restricted.
News of the launch of this insurance product has been met with positive responses, with some calling it a "practical insurance product."
According to Seoul Metro, which operates subways in Seoul, there was an annual average of 51.4 subway delays of more than 30 minutes between 2019 and 2023. This means that, on average, there is a subway delay of more than 30 minutes about once a week.
In particular, at around 8:20 a.m. on June 13, during the morning commute, a catenary failure occurred between Gajwa and Sinchon stations in Seodaemun-gu, Seoul, causing the suspension and delay of Gyeongui-Jungang Line train operations.
Because subway delays of more than 30 minutes are not uncommon, using this insurance can help commuters use taxis without worrying about the cost.
However, there are also skeptical views. Some argue that there is no need to purchase the insurance because, in most cases, submitting a delay certificate is sufficient for tardiness to be accepted without penalty. Others point out that, since subway accidents are usually announced in advance via emergency text messages, commuters can prepare in advance and tend to use alternative transportation before waiting for a 30-minute subway delay, making the insurance less practical.
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