Basic situation of the insurance industry in South Korea, what is included in loss insurance in Sout

1. The meaning of vehicle loss insurance refers to the loss of the insured vehicle itself due to natural disasters (excluding **) or accidents within the scope of insurance liability. This kind of loss insurance is generally purchased by the owner of the private car and is the insurance with the highest premium among most private car insurance.

1) External force loss: collision, overturning, falling; Accidental collision (accidental collision of the insured vehicle with an external object) and accidents such as judgment and rollover.

2) Loss of foreign objects: falling and collapsing of external objects; The insured vehicle suffers from the loss of the insured vehicle caused by the collapse of external objects, the fall of flying objects in the air, and the parallel fall of the insured vehicle while driving.

3) Natural disasters: tornadoes; lightning strikes, floods, tsunamis; ground subsidence, ice subsidence, cliff avalanche, avalanche, debris flow, landslide; Fire**.

3. Except for the following dozen types of insurance that do not pay compensation during the insurance period, all others will be compensated.

1) **No compensation.

2) No compensation for mental damages.

3) No compensation for drunk driving, driving without a license, and failure to pass the annual inspection.

4) No compensation will be paid for damage caused by starting the engine after water ingress.

5) Some parts are stolen without compensation.

6) There is no compensation for a puncture.

7) No compensation will be paid if the right of recourse is waived.

8) No compensation for the added equipment after modification.

9) No compensation for losses during the repair period.

10) There is no compensation for accidents in paid parking lots.

11) No compensation for direct repair without damage assessment.

12) No compensation will be paid for accidentally hitting one's own family.

13) No compensation will be made before the new car insurance policy takes effect.

4. Legal basis: Article 21 of the Judicial Interpretation of the Supreme People's Court on State Compensation (11-20).

If a traffic accident involving multiple motor vehicles causes damage to a third party, and the loss exceeds the sum of the liability limits of the compulsory traffic insurance of each motor vehicle, the insurance companies shall be liable for compensation within the limits of their respective liability limits; Where the losses do not exceed the sum of the liability limits of the compulsory motor vehicle insurance, and the parties request that the insurance companies bear the liability for compensation in accordance with the proportion of the sum of their liability limits and liability limits, the people's court shall support it.

Where a traffic accident occurs when a tractor and a trailer are connected and used separately in accordance with the law, causing damage to a third party, and the parties request that each insurance company compensate equally within their respective liability limits, the people's court shall support it.

Where a traffic accident involving multiple motor vehicles causes damage to a third party, and some of the motor vehicles are not insured with compulsory traffic insurance, and the parties request that the insurance company that has underwritten the compulsory traffic insurance first compensate them within the limits of liability, the people's court shall support it. Where an insurance company exercises its right of recourse against an insurance obligor or tortfeasor who has not taken out compulsory traffic insurance for the part that it should bear in excess of its responsibilities, the people's court shall support it.

1. Health insurance; Health insurance, also known as "National Health Insurance", is one of the social security systems that provide a certain amount of remuneration in the event of illness, injury, childbirth, or death. In principle, the company should enroll all employees in health insurance, regardless of whether they are full-time employees or not, and whether or not they have signed a labor contract.

2. Property accident insurance; Accident insurance is insurance that applies to the accident in the event of an injury or death caused by work, without being paid by health insurance. Accident insurance is called "work-related injury insurance" in China.

3. Employment insurance; Employment insurance is a system that provides unemployment insurance benefits to those who lose their jobs due to layoffs, malaise, or other reasons, and provides incentives such as vocational training to companies.

4. National Pension; National pension is a legal system that pays old-age remuneration for aging, disability, or death, and achieves stability and improvement in well-being.

Since each company's policy is different, it is recommended to call the insurance company** directly for consultation.