Over the past five years, 41.2 traffic accidents have occurred annually due to highway falls. The probability of death from a load drop on a highway is 28.5%, twice the fatality rate of all traffic accidents. It means that a car crash is more dangerous. In addition, if you don’t know which car the falling object that caused the accident fell from, there’s no way to get compensation.
However, if the accident occurs after January 28 this year, you can be compensated. This is because a vehicle drop accident was added to the Automobile Damage Compensation Guarantee Act, which was revised in July last year and took effect on January 28 this year.
The “Automobile Damage Compensation Guarantee Project” is a social security system in which the government compensates for human damage within the liability insurance compensation limit (150 billion won for death, 30 million won for injury) if a victim dies or injured in a car accident is not compensated.
Under the automobile damage compensation guarantee project, victims of hit-and-run accidents where the vehicle has fled and there is no way to be compensated by the perpetrator can be compensated by the government instead. If a hit-and-run driver is caught running away, he or she can be charged to the perpetrator, so he or she is excluded from the guarantee project. You can also benefit from uninsured vehicles that do not have liability insurance. From this year, the scope of coverage has been expanded by adding vehicle drop accidents.
In order to be compensated for damage, you must first report the accident to the police and apply for compensation to 10 non-life insurers in charge of compensation for the auto damage guarantee project. △Lotte Insurance △ Meritz Fire & Marine Insurance △ Samsung Fire & Marine Insurance △ Hyundai Marine Insurance △ DB Insurance △ KB Insurance are eligible. You can apply for compensation from any of the 10 non-life insurers, even if you do not have an insurance company you have subscribed to.
If you receive an application for compensation with a traffic accident fact checker, medical certificate, and treatment non-receipt issued by the police station, the insurance company will compensate for human damage through accident investigation and document confirmation. The deadline for applying for compensation is within three years from the date of the damage (usually the date of the accident).
If you provide black boxes or closed-circuit (CC) TV videos with accident scenes to police stations and non-life insurance companies that receive government-guaranteed projects, compensation can be processed quickly. However, it is worth noting that if you can receive compensation for damages from the perpetrator or receive compensation in accordance with other laws and regulations such as industrial accident insurance, you will not be eligible for the automobile damage compensation guarantee project.