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Auto insurance, benefits will rise

Posted July. 20, 2000 11:47,   


Auto insurance premiums will increase an average of 3.8% starting Aug. 1. Policyholders of basic insurance only are required to pay 18.3% more on an average.

Insurance benefits also will be expanded drastically. Starting next month, the benefit paid to the family of the dead will increase from 19 million won to 32 million won.

Also, the minimum compensation for dead and injured persons will rise from 15 million won to 20 million won. At the same time, the maximum compensation money will be adjusted to 80 million won from the current 60 million won.