Osan City Provides Support for Wind and Water Damage Insurance...Up to 90% Compensation

Osan City announced on the 21st that it will provide support for enrollment in wind and water damage insurance operated jointly by the National Fire Agency and private insurance companies.

Eligible properties for wind and water damage insurance include residences (single-family and multi-family) and greenhouses (including vinyl houses) in the city, with an insurance period of one year from the enrollment date.

The support range covers approximately 55~62% of insurance premiums for general residents and up to 86% for recipients of basic livelihood security benefits.

In the event of disasters covered by wind and water damage insurance, compensation is provided up to 90% of the facility restoration standard amount according to damage types including typhoons, floods, heavy rain, strong winds, rough seas, storm surge, and heavy snow. Insurance payments are disbursed within one week.