Overview

The Car Insurance Calculator estimates annual premiums based on vehicle type, model year, driver age, driving experience, and accident history. It reflects Korea's bonus-malus (discount-surcharge) system and covers liability, collision, and comprehensive coverage options.

Formula

Premium = Base Premium x Vehicle Factor x Age Factor x Experience Factor x Bonus-Malus Rate. For example, 3+ years of no claims can yield up to about 60% discount.

How to Use

1. 1Enter vehicle details (type, model year, displacement).
2. 2Enter driver information (age, license year, accident history).
3. 3Select desired coverage (liability, collision, comprehensive, etc.).
4. 4Click 'Calculate' to see the estimated annual premium.

Tips

• ✔A longer claims-free period means higher discounts (up to about 60%).
• ✔Take advantage of discounts for dashcams, mileage-based insurance, and other riders.
• ✔Restricting the driver scope (e.g., spouse only) lowers the premium.
• ✔Setting a minimum driver age of 26 can reduce costs significantly.
• ✔Online (direct) insurance is typically 10–20% cheaper than agent-based insurance.

FAQ