🚗 Car Insurance Prices in Korea — What Really Affects Your Premiums 🇰🇷

Thinking about getting car insurance in Korea? Here are the 4 key factors that determine your premium 👇

1️⃣ Insurance History
If it’s your first time in Korea, rates can be high.
After one year of claim-free driving, premiums may drop by 30–45%!
You can also get a discount with a previous insurance record from abroad — just provide your old policy or certificate.

2️⃣ Date of Birth
Younger drivers generally pay more.
The same car can cost twice as much to insure for a 24-year-old compared to a 30-year-old.
Adding a spouse usually has little effect on price unless there’s a big age gap.

3️⃣ Car Make, Model & Fuel Type
Smaller engines are cheaper (usually!).
Imported cars cost much more if you add Own Car Damage (OD) coverage.
LPG/LPI cars have slightly higher rates, while new cars enjoy lower premiums.

4️⃣ Type of Coverage
In Korea, liability insurance is mandatory, but it only covers others — not you or your car.
For better protection, upgrade your plan to include:
✅ Higher BI/PD limits
✅ Own Bodily Injury (OBI)
✅ Own Car Damage (OD)
✅ Roadside Assistance (flat tire, battery, towing, etc.)

💡 Bonus Discounts:
✔️ Kids living with you
✔️ Installed black box

📞 Need help choosing the right plan?
Contact Byung Geun Chun — your trusted insurance advisor at Samsung Expat Insurance.
📧 byung625@gmail.com
📱 010-3232-0625
🌐 facebook.com/expatinsurance

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