▲ Vehicles piled up due to heavy rain
As the risk of secondary accidents on highways and vehicle flooding rises during the summer vacation season, the Financial Supervisory Service (FSS) and the insurance industry are advising drivers to check their auto insurance policies for relevant special coverage.
On Wednesday, July 8, the FSS issued guidance for consumers on auto insurance, aiming to prepare for accident risks caused by long-distance travel and heavy rainfall during the peak summer months of July and August.
According to the FSS, there were 65 cases of secondary accidents—which occur when vehicles stop on a highway due to an initial accident or breakdown—last year, marking a 30 percent increase over the past four years.
During the same period, the number of casualties from these accidents also rose by 46 percent, with 25 deaths and 67 injuries.
The FSS explained, "The fatality rate for secondary accidents on highways is approximately five times higher than that of regular accidents," adding that "most victims were involved in accidents while remaining inside or near their vehicles."
Data showed that only 13.2 percent of drivers take proper action, such as evacuating or reporting the incident, when an accident or breakdown occurs.
Consequently, the FSS urged drivers to ensure safety by moving to a secure location after an accident before proceeding with steps such as gathering evidence, contacting their insurance company, and reporting the incident to the police.
Additionally, the FSS recommended that drivers check whether they have signed up for an "emergency roadside assistance special contract" before leaving for their vacation.
Drivers can receive services under their auto insurance special contracts in emergency situations, such as flat tires or running out of fuel.
Vehicle flood damage due to heavy rainfall is also concentrated in July and August.
Over the past five years, the average flood damage during the summer season amounted to 44.3 billion won, more than double the average during other periods (20.3 billion won).
During the same period, 65 percent (4,589 cases) of the total average flood damage cases (7,035 cases) occurred during the monsoon season in July and August.
In response, the FSS advised that drivers must be enrolled in a "single-vehicle accident damage special contract" to be compensated for vehicle flood damage.
The FSS explained that if it is proven that the driver was not at fault in a single-vehicle accident, such as flooding, their insurance premiums will not be increased.
The FSS emphasized, "Drivers should complete vehicle inspections before the monsoon season and frequently check weather information," adding, "Please move your vehicle to a safe location if you identify information about flood-prone areas through services such as emergency evacuation alerts."
(Photo: Yonhap News)
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