The Financial Supervisory Service announced on the 13th that it has established a’auto insurance premium discount/premium inquiry system’ (prem.kidi.or.kr) that can easily check auto insurance subscription information and the cause of insurance premium fluctuations, and provide services from the next day.
Auto insurance, which has more than 23 million people, is a big concern for drivers, and the average annual premium last year reached 740,000 won.
However, it has been pointed out that it is difficult for drivers to understand the reasons for premium discounts or premiums when renewing their insurance, and the FSS has established a system that can inquire details.
◇ Provide details such as accident history, violation of laws, and age
The discount/premium inquiry system provides detailed information related to the premium of the contract before and after the driver’s car insurance renewal.
It provides detailed information on the number of accidents that determine auto insurance premiums, number of violations of laws, discount and premium grades, age, and subscription history so that consumers can understand the reasons for insurance premium changes.
In addition, the estimated premium discount and premium rates for the current contract are also provided.
Such detailed information can be inquired only for car insurance that has been subscribed to as a private car and a small car for privately owned business.
Example of querying car insurance premium discount/premium detailsIn addition, ▲ auto insurance subscription information ▲ history of past accidents and violations of laws and regulations ▲ a function to inquire about the method of calculating renewal insurance premiums.
First of all, if it is confirmed that there are a large number of minor accidents by inquiring about accidents and violations, the burden of insurance premiums can be reduced by reversing the small amount of insurance money at your own expense.
This is because if there are three or more minor accidents in the last three years, the premium is significantly increased by 50% or more.
Significant violations of laws and regulations such as unlicensed driving, drunk driving, and speeding in school zones subject to premium premiums can be inquired within the past 10 years.
For drivers who do not remember the insurance company and the expiration date, they are able to check their insurance subscription information through simple identification by text message.
It also provides an overview of how to calculate auto insurance premiums that are difficult for consumers to understand.
Overview of how auto insurance premiums are calculated◇ New Year’s car insurance premium saving’honey tip’
The Financial Supervisory Service also guided several ways to save on car security.
First of all, you can compare car insurance premiums by insurance company through’Insurance Damoa’ (www.e-insmarket.or.kr) operated by the Non-life Insurance Association.
Unlike general insurance products, he explained that auto insurance has the same coverage and price, so price comparison is relatively easy.
Driving distances less than a certain distance, installation of black boxes and advanced safety devices, and children under the age of 6 can be included in the premium discount special contract.
Even when you first sign up for a car, you can get a discount on insurance premiums in recognition of your driving experience.
Insurance premiums are applied to first-time subscribers in consideration of the high risk of accidents, but insurance premiums can be reduced by providing a history of military driver or overseas auto insurance subscription.
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