Korea Business Fleet Insurance Quote Comparison Calculator

Compare up to three written Korean business fleet insurance quotes on one annual, per-vehicle, and per-distance basis, with vehicle-roster, compulsory-cover, optional-cover, and deductible checks.

The sample premiums are fictional calculation inputs, not a Korean market average or recommended rate. Replace them with written quotes based on the same vehicle roster and conditions.

Fleet and common comparison scenario

Apply one vehicle count, total distance, current premium, and representative repair scenario to every quote.

Quote AQuote input

Zero gross cost keeps this quote out of the comparison.

Quoted cost and vehicle count

Vehicle roster and compulsory cover

Optional cover and representative deductible

Quote BQuote input

Zero gross cost keeps this quote out of the comparison.

Quoted cost and vehicle count

Vehicle roster and compulsory cover

Optional cover and representative deductible

Quote CQuote input

Zero gross cost keeps this quote out of the comparison.

Quoted cost and vehicle count

Vehicle roster and compulsory cover

Optional cover and representative deductible

Enter at least two active quotes

Add a written fleet premium or confirmed extra cost to two quotes before comparing annual cost.

Raw lowest cost; conditions may differ

No active quote entered

KRW 0

Lowest annualized cost

KRW 0

Highest-to-lowest annual gap

KRW 0

Best quote versus current contract

Input required

Active quotes

0

No fleet premium or discount rate is invented

Korean law sets per-vehicle compulsory cover and a minimum property limit, not an insurer-wide fleet price or discount. This result only annualizes written inputs and provides a checklist; the final vehicle schedule, application, policy terms, and insurer confirmation control.

Paid transport, rental, and licensed freight vehicles need separate review

Taxis, rental fleets, licensed freight transport, construction-equipment rental, and certified parcel delivery may face additional bodily or sector-specific duties. This tool covers an ordinary business-use fleet and does not determine commercial-vehicle compliance.

Related calculators

Why should a business fleet be compared with written quotes?

A low fleet total can be misleading when providers quote different registration rosters, driver scopes, vehicle uses, policy dates, limits, optional-cover counts, or deductibles. This calculator does not manufacture an insurance price. It converts up to three written Korean quotes to one annual basis, then tests whether the same fleet and coverage are being compared.

No invented market rate

Korean law does not set one fleet discount or national average premium. Only premiums, fees, payment costs, and confirmed credits entered from a real quote are calculated.

Roster before price

The quoted vehicle count must equal the fleet count, and the user must confirm that registration identifiers, models, and model years match.

Coverage before recommendation

A lowest annual cost is labeled as a recommendation only after compulsory cover, optional-cover counts, and the representative deductible align.

Meaning of fleet on this page: fleet means a group of business-use vehicles managed and compared together. It is not a statutory product name, a nationwide minimum vehicle count, or automatic eligibility for a discount.

South Korean compulsory-cover screen for 2026

On July 30, 2026, the current Automobile Accident Compensation Security Act was verified through the National Law Information OPEN API as MST 277017, effective October 1, 2025. Article 5(1) requires bodily liability insurance or mutual aid, Article 5(2) requires property cover, and Article 5(5) requires the cover to be held for each automobile. A single aggregate fleet premium therefore cannot prove that every vehicle on a schedule is insured.

2026 Korean legal checks used by the business fleet insurance comparison
CheckOfficial basisCalculator gate
Bodily compulsory coverAct Article 5(1) and 5(5)Bodily Liability I on every vehicle
Property compulsory coverAct Article 5(2), Decree Article 3(3)At least 20,000,000 KRW per accident
Per-vehicle contractAct Article 5(5)Fleet count equals quoted count
Driving without compulsory coverAct Article 8Recommendation blocked

Enforcement Decree MST 284827, effective March 24, 2026, was also verified. Article 3(1)(1) describes the compulsory death benefit as loss up to 150,000,000 KRW per victim, with 20,000,000 KRW when the loss is below that floor. The calculator does not estimate a victim’s loss or payout; it asks whether Bodily Liability I is present on every scheduled vehicle. Article 3(3) supplies the 20,000,000 KRW property-liability screen per accident.

The 20,000,000 KRW property figure is a minimum screen

Passing the statutory screen does not mean the limit is sufficient for the fleet’s actual risk. A business may need a higher limit based on routes, surrounding property, vehicle use, and risk tolerance. Bodily Liability II, own damage, uninsured-motorist cover, and roadside service are compared as contract terms, not declared universal statutory minima for an ordinary business-use fleet.

What each input means

Fleet count and total distance

The fleet count is the number of vehicles every quote must cover. Total annual fleet distance is the sum across all vehicles and supports a cost-per-10,000-km measure. Enter zero when the combined distance is not reliable.

Current annual premium

Enter the current twelve-month outlay only when it represents the same roster. A positive result means the proposed quote is lower; a negative result means extra cost. Zero hides this comparison.

Premium, fees, and payment cost

Use the written base premium, then add separately stated rider, issue, administration, installment, or payment costs. Subtract only a discount or refund that is already confirmed.

Covered count and identical roster

A matching count is necessary but not sufficient. Twelve quoted vehicles can still differ from the twelve vehicles in another proposal, so the registration roster must also be checked.

Optional-cover vehicle counts

Record how many vehicles receive own-damage, uninsured-motorist, and roadside cover. A cheaper proposal that protects fewer vehicles is a coverage change, not a clean saving.

Representative repair scenario

Use the same hypothetical repair for one representative vehicle. When own-damage cover is selected, the written percentage, floor, and cap determine the scenario deductible. Without that cover, the full repair amount remains out of pocket.

Formulas and recommendation safeguards

Convert every quote to a twelve-month basis

gross period cost = premium + separate fees + payment cost

applied credit = min(gross period cost, confirmed credit)

net period cost = gross period cost - applied credit

annualized cost = round(net period cost × 12 ÷ quote months)

annual cost per vehicle = round(annualized cost ÷ covered vehicles)

cost per 10,000 km = round(annualized cost ÷ fleet km × 10,000)

Fleet-scope gates

  • At least two quotes have a positive gross cost
  • Every quoted count equals the fleet count
  • The identical vehicle roster is confirmed
  • Bodily Liability I is present on every vehicle
  • Property cover is at least 20,000,000 KRW per accident

Like-for-like coverage gates

  • Driver, use, date, rider, and payment terms match
  • Bodily Liability II treatment and property limits match
  • Optional-cover vehicle counts match
  • The representative own-damage and deductible terms match

Only after every gate passes does the lowest annualized cost receive a recommendation label. Before that point, the page can still show a raw lowest amount and differences, but it explicitly warns that the scopes may differ. Tied lowest quotes remain tied rather than being ranked by input order.

Worked example: a 12-vehicle fleet

These are fictional formula inputs, not a Korean market benchmark. Assume 12 vehicles, 300,000 km of combined annual distance, a current annual premium of 18,000,000 KRW, and a representative repair of 3,000,000 KRW.

Fictional quote A and quote B results for a 12-vehicle Korean business fleet
ItemQuote AQuote B
Net quote-period cost15,700,000 KRW / 12 months7,800,000 KRW / 6 months
Annualized cost15,700,000 KRW15,600,000 KRW
Annual cost per vehicle1,308,333 KRW1,300,000 KRW
Fleet cost per 10,000 km523,333 KRW520,000 KRW
Saving versus current contract2,300,000 KRW2,400,000 KRW
One-repair deductible500,000 KRW500,000 KRW

Interpreting the example

If both quotes use the same twelve vehicles, compulsory cover, ten own-damage vehicles, twelve uninsured-motorist and roadside vehicles, unlimited Bodily Liability II, and identical deductible terms, Quote B is lower by 100,000 KRW a year. A 20% deductible on a 3,000,000 KRW repair is 600,000 KRW, but the 500,000 KRW cap reduces the scenario outlay to 500,000 KRW. This does not endorse a provider or estimate an available market price.

Step-by-step workflow

  1. Freeze one registration, model, and model-year roster before asking for proposals
  2. Request written quotes with the same driver scope, vehicle use, policy start, limits, riders, and payment terms
  3. Enter each period, base premium, separate fees, payment cost, and only confirmed credits
  4. Check the written vehicle count, identical roster, Bodily Liability I on all vehicles, and the property limit
  5. Copy Bodily Liability II, own-damage, uninsured-motorist, roadside, and representative deductible terms
  6. Read the status before using the annual, per-vehicle, per-distance, or current-contract differences
  7. Reconcile the final application and vehicle schedule with the compared quote before signing

How to read each status

Fleet scope mismatch

A quote for eleven vehicles can appear cheaper than a twelve- vehicle renewal simply because one vehicle is missing. Even equal counts must be backed by an identical roster confirmation.

Compulsory cover unconfirmed

Missing Bodily Liability I or a property limit below 20,000,000 KRW blocks the recommendation. This is an input-based checklist, not automatic policy interpretation or a legal determination.

Conditions or coverage differ

Different driver scope, use, optional-cover counts, or deductibles means that a lower premium may purchase less cover. The raw amounts remain visible, but no recommendation is made.

Comparison ready

The lowest annualized quote is highlighted only when roster, compulsory cover, optional cover, and deductible terms align. Claims service, exclusions, insurer strength, and account support still require qualitative review.

Practical business uses

Annual renewal tender

Issue one roster and coverage matrix four to six weeks before renewal. The calculator can normalize twelve-month, six-month, installment, and fee structures after providers respond.

Adding or removing vehicles

Compare before-and-after scenarios separately. Do not treat a smaller roster as a cheaper like-for-like quote; freeze the roster inside each comparison batch.

Changing own-damage scope

Removing own damage from older vehicles can lower premium while retaining more repair risk. Optional-cover counts and the repair scenario make that trade-off visible.

Payment and cash-flow review

Annualization puts six- and twelve-month proposals on one basis, but it does not model short-rate cancellation, missed payments, or seasonal fleet changes. Review the actual payment schedule.

Paid transport and statutory commercial vehicles are out of scope

A vehicle used for company work is not automatically the same as a statutory commercial-transport vehicle. Act Article 5(3) separately lists passenger transport operators, vehicle rental operators, licensed freight carriers and networks, construction-equipment rental operators, and certified parcel-delivery operators. Those fleets may need additional bodily cover or sector-specific mutual aid. Taxis, rentals, paid delivery, and licensed freight vehicles should not rely on this ordinary business-use screen. Use the commercial-truck quote comparison for Korean freight-insurer and freight mutual-aid checks.

Quote request checklist

  • Send every provider the same dated vehicle schedule
  • Align employee-only, age-limited, or unrestricted driver scope
  • Disclose commuting, business, service, delivery, or paid use accurately
  • Prepare one matrix for bodily, property, own damage, and optional cover
  • Record each vehicle’s deductible percentage, floor, and cap
  • Confirm policy dates, installment count, financing cost, and refund terms
  • Separate confirmed discounts from mileage or telematics forecasts
  • Verify that claim history and recent roster changes reach every provider
  • Check the final application schedule against the compared proposal

Frequently asked questions

How many vehicles make a fleet?

Korean statutes do not establish one minimum that binds every insurer. Product and underwriting rules vary, so use the actual count accepted and listed by the quote provider.

Is average premium per vehicle enough?

It is useful only when the roster and terms match. A mixed fleet of newer, older, high-value, and differently used vehicles can hide risk differences behind a simple average.

Should a forecast mileage refund be entered as a credit?

Not until its conditions are satisfied or the amount is otherwise confirmed. Keep a conditional refund in a separate scenario so it does not make the base quote look artificially low.

Is 20,000,000 KRW of property cover enough?

It is the statutory minimum screen used here, not a recommendation. Review a higher limit against credible property-loss scenarios and the company’s risk tolerance.

Can only some vehicles carry own-damage cover?

Yes, and the comparison can be ready when every active quote uses the same own-damage count and representative deductible. Different counts block the recommendation because coverage is not aligned.

Does the result identify the cheapest insurer in Korea?

No. It identifies the lowest annualized amount among the written quotes entered after like-for-like gates pass. It is not a market ranking, underwriting approval, or claims-service score.

Official sources and update boundary

The legal verification date is July 30, 2026. The calculator pins Automobile Accident Compensation Security Act MST 277017, Articles 5 and 8, and Enforcement Decree MST 284827, Article 3. If the current MST, effective date, property minimum, or Article 5 commercial- operator scope changes, the requirements, constants, tests, and both language guides must be updated together.

Align the vehicle roster before comparing the price

Load the fictional example to understand the workflow, then replace every value with the actual vehicle schedule, premium, covered counts, and deductible terms. A lower annual or per-vehicle cost is meaningful only after the compulsory and optional coverage are truly comparable.