SEOUL, Aug. 11 (Korea BIzwire) – There are more accidents that occur due to strong wind than heavy rain during typhoons, a South Korean non-life insurer said Thursday.
Hyundai Marine & Fire Insurance Co. analyzed some 9,500 car insurance damage claims resulting from typhoons between 2018 and 2022.
During this period, the Korean peninsula experienced the landfall of about 20 typhoons.
Out of the total claims, roughly 6,500 were attributed to strong winds, constituting 68 percent of all cases.
On the other hand, heavy rains were responsible for about 3,000 damage claims, accounting for around 32 percent of the total.
Interestingly, incidents involving submerged vehicles due to heavy rain generally lead to a total loss and result in significant damages.
Accidents caused by strong winds resulted in 98 percent of cases as partial losses, with the remaining 2 percent categorized as total losses.
On the other hand, acidents caused by heavy rain had a higher rate of resulting in a total loss, with 74 percent falling under this category.
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