Gyeonggi Province Holds "On-Site Briefing Session for Wind and Water Damage Insurance"

[Suwon Ilbo = Reporter Park No-hun] Gyeonggi Province announced on the 25th that it plans to hold an "On-Site Briefing Session for Wind and Water Damage Insurance" at the Anseong 2-dong Community Center on the 28th.
This on-site briefing session was organized to increase insurance subscription rates among farmers in the Anseong region who suffered damage such as damaged vinyl greenhouses from Typhoon 'Lingling' (No. 13) on September 7 by widely promoting the advantages of "wind and water damage insurance."

"Wind and water damage insurance" is an "advanced disaster management system" operated under the Ministry of the Interior and Safety, which enables citizens to proactively respond to unexpected wind and water damage as well as seismic disasters at affordable insurance premiums by having the state and local governments subsidize a portion of the insurance premiums that policyholders must bear.
In the case of the "disaster support system" provided free of charge by the state, a fixed amount equivalent to the minimum recovery cost is paid regardless of the damage scale; however, those who subscribe to "wind and water damage insurance" can receive compensation for 70-90% of the damage depending on the type of product purchased.
With "wind and water damage insurance," subscribers can receive compensation for eight types of "natural disasters" including typhoons, floods, heavy rain, strong winds, rough seas, storm surge, heavy snow, and earthquakes. Eligible facilities include homes (detached and multi-unit, including personal property), greenhouses (including vinyl greenhouses), and small business owners (storefronts and factories).

Looking at compensation examples, in May last year, farmer A in Anseong City paid an insurance premium of 1.15 million won and subscribed to wind and water damage insurance for a 5,243㎡ greenhouse. Subsequently, in October last year, most of the greenhouse vinyl was damaged by strong winds, but he received 10.27 million won in compensation, which minimized the damage.
Similarly, in April last year, A, a resident of Yangju City, paid 28,000 won and subscribed to wind and water damage insurance for a 165㎡ house. In August, four months later, the house was completely destroyed, but he received 160 million won in compensation and was able to recover without significant difficulties.

Those wishing to subscribe to wind and water damage insurance can inquire at city/county disaster departments or eup/myeon/dong offices, or with five private insurance companies (DB Insurance, KB Insurance, Samsung Fire & Marine Insurance, Hyundai Marine & Fire Insurance, and NH Agricultural Cooperative Insurance).
The province plans to continue holding on-site briefing sessions to enable more residents to subscribe to wind and water damage insurance.

Kim Nam-geun, director of the Natural Disaster Division of Gyeonggi Province, said, "Wind and water damage insurance can be the best means to protect valuable assets from various disasters at an affordable cost," and added, "In particular, residents living in areas with frequent house flooding and farmers engaged in greenhouse cultivation are strongly urged to subscribe to wind and water damage insurance."