Jeju Island: Protect Your Property with Feng Shui & Insurance
Jeju Island Offers Disaster Insurance Amid Climate Concerns
Table of Contents
JEJU ISLAND, South korea – In response to increasingly frequent climate-related events, the jeju Special Self-Governing Province is promoting ”Feng Shui and Earthquake Disaster Insurance” to safeguard residents’ properties.
Complete Coverage Against Natural Disasters
The insurance policy, subsidized by the government and local administrations, acts as a safety net, providing compensation for damages caused by various natural disasters.These include typhoons, floods, heavy rains, strong winds, storms, tsunamis, heavy snow, and earthquakes.
Eligibility and Coverage Details
Eligible properties include houses (including gardens), greenhouses (including vinyl structures), shopping centers, and factories owned by small businesses. Premium support ranges from 55% to 100%, depending on the specific characteristics of the insured property.
Expanded Housing Support
This year, the program has broadened it’s housing support, newly including single-parent families.
The government support rate for housing and small businesses’ general price components has been adjusted from 70% to 55%.
Local Subsidies
Jeju Island provides a 50% subsidy on housing premiums for its citizens. However, greenhouses, shopping centers, and factories (small business owners) are excluded from this local support.
Cost Breakdown
For example, the total premium for an 80-square-meter detached house is approximately 93,000 won. With government and provincial support totaling 72,000 won, citizens pay only 21,000 won.
Additional Support for Vulnerable Areas
Residents in disaster-vulnerable areas may receive full co-payment support through private organizations’ social contribution projects if thay join the Eupmyeon-dong office group.
How to Enroll
Citizens interested in enrolling in the Feng Shui and Earthquake Disaster Insurance can contact any of the six participating private insurance companies or their local Eup, Myeon, or Eup-myeon Community Center.
Target Beneficiaries
- Housing: Economically vulnerable individuals
- Residents in disaster-vulnerable areas
- Those with a history of disaster assistance and Feng Shui insurance
Official Statement
Cho Sang-bum, head of the Safety and Health Division of Jeju Island, stated, “We will continue to promote awareness so that more residents become interested in the feng shui and earthquake disaster insurance, which is helpful for rapid recovery and stability in the event of natural disasters.”
# Jeju Island Disaster Insurance: Your Questions Answered
here’s a comprehensive guide to Jeju Island’s “Feng Shui and Earthquake Disaster Insurance,” offering valuable insights and addressing your key questions.
## What is the Jeju Island “Feng Shui and Earthquake Disaster Insurance“?
This insurance program, promoted by the Jeju Special Self-Governing Province, is designed to protect residents’ properties from climate-related disasters. It’s offered in response to the increasing frequency of such events on the island.
## What Kind of Disasters Does This Insurance Cover?
The insurance policy provides coverage for damages caused by a wide range of natural disasters. These include:
* Typhoons
* Floods
* Heavy rains
* Strong winds
* Storms
* Tsunamis
* Heavy snow
* Earthquakes
## Who is Eligible for Jeju Island Disaster Insurance?
The insurance covers various properties, including:
* Houses (including gardens)
* Greenhouses (including vinyl structures)
* Shopping centers
* Factories owned by small businesses
## Is This Insurance Subsidized?
Yes, the government and local administrations subsidize the insurance policy. Premium support ranges from 55% to 100%,depending on the specific characteristics of the insured property.
## Has There Been Any Recent change in the Housing Support?
Yes,the program has expanded it’s housing support this year to include single-parent families.
## How Have Government Support Rates Changed?
The government support rate for housing and small businesses’ general price components has been adjusted from 70% to 55%.
## Are There local Subsidies Available?
Yes, Jeju Island provides a 50% subsidy on housing premiums for its citizens. However, greenhouses, shopping centers, and factories (small business owners) are excluded from this local support.
## Can You Provide a Cost Example?
Certainly. For an 80-square-meter detached house, the total premium is approximately 93,000 won. With government and provincial support totaling 72,000 won, citizens pay only 21,000 won.
## Are there Any additional Support Programs?
Yes, residents in disaster-vulnerable areas may receive full co-payment support thru private organizations’ social contribution projects. This is available if they join the Eupmyeon-dong office group.
## How Do I Enroll in the Jeju Island Disaster Insurance?
Citizens interested in enrolling can contact any of the six participating private insurance companies or their local Eup, Myeon, or Eup-myeon Community Center.
## Who Are the Target Beneficiaries of This Insurance?
The program specifically targets:
* Economically vulnerable individuals
* Residents in disaster-vulnerable areas
* Those with a history of disaster assistance and feng Shui insurance
## What are the Key Takeaways from the Official Statement?
Cho Sang-bum, head of the Safety and Health Division of Jeju Island, stated that the local government will continue to promote awareness of this insurance. The program aims to help provide faster recovery and stability in the event of natural disasters.
## Key Information at a Glance
Here’s a table summarizing the key aspects of the Jeju Island “Feng Shui and Earthquake Disaster Insurance”:
| Feature | Details |
|---|---|
| Purpose | Safeguard Jeju Island residents’ properties against natural disasters |
| Coverage | Typhoons, floods, heavy rains, strong winds, storms, tsunamis, heavy snow, and earthquakes |
| Eligible Properties | Houses (including gardens), greenhouses (including vinyl structures), shopping centers, and factories |
| Government Subsidy | 55% to 100% of premiums |
| Local Subsidy (Housing) | 50% subsidy |
| How to Enroll | Contact participating insurance companies or local community centers |