If you convert a business van or a private car into a camping car, you will be able to get a refund on insurance premiums. The Financial Supervisory Service said on the 27th that if a van or passenger car is converted into a camping car, it will be classified as an individual ride under the revised Automobile Management Act and a new special (discount) rate will be applied. Accordingly, if a business van or a private car is converted into a camping car, the overpaid insurance premium will be refunded from May 1.
Refunds are expected to be reduced by up to 40% depending on individuals. The Financial Supervisory Service said it will refund all overpaid insurance premiums imposed on vehicles tuned for camping after the revision of the Automobile Management Act, which will reach about 1.1 billion won. In detail, if the 11-seater Carnival, which was insured based on business (vans), removes the seat and converts it into a 9-seater Carnival, it will be changed to a personal (vans) and can be refunded.
If Kia Light Car Ray, a passenger car, is converted into a passenger camping car, the car insurance premium, which is 1,092,630 won, will be reduced by about 42% to 633,730 won. Subject to the refund are vehicles that have been converted from vans to passenger cars since January 2019, vehicles that have been approved for business change from passenger cars to passenger camping cars since February 2020, or vehicles that have not been subject to special rates.
The Financial Supervisory Service plans to allow insurers to directly refund overpaid insurance premiums without individual applications from contractors. It is also possible to inquire and apply directly through the Korea Insurance Development Institute’s “Integrated Inquiry System for Overpaid Insurance Premiums.” Meanwhile, the government has been easing regulations by revising the Automobile Management Act to change the structure of cars and revitalize camping cars. The number of modifications to camping cars increased by 251 percent compared to the previous year to 7,709 in 2020.
Until now, the government has revised the Automobile Management Act and continued to ease regulations related to tuning to change the structure of cars and revitalize camping cars. Regulations that do not allow changes in vehicle models due to tuning were revised in January 2019.
As a result, the van (carnival 11 seats) made with the same body and car as the passenger car was allowed to be changed to a car (carnival 9 seats) when the seat was removed. Camping cars were unconditionally classified as vans, so cars could not be tuned, but in February 2020, cars were also allowed to tune camping cars due to the abolition of restrictions on camping car types.
The Financial Supervisory Service’s plan to reform the system for calculating camping car insurance premiums announced on the same day is a measure to realize insurance premiums that camping vehicles, which are already allowed to change their vehicle types, are paying excessively according to the initial vehicle classification standards stipulated under the existing “Car Management Act.”
The government intends to normalize this in that vehicles that have been newly allowed to tune have not been properly reflected in the insurance rate calculation system since deregulation.
For example, if the seat of an 11-seater carnival was removed and tuned to a 9-seater carnival, it was insured based on the first newly registered business (victory vehicle) when subscribing to auto insurance. 레이 중고차 가격 (average insurance premium of 893,500 won) However, it will be about 10% cheaper if personal car insurance (91,300 won for 9 people) is applied.
