Flooded Car Insurance Compensation Calculator

Flooded Car Insurance Compensation Calculator helps estimate Korea-related auto accident, repair, rental, towing, compensation, or surcharge scenarios in English.

Flooded-car claim inputs

Flood compensation result

Coverage status

Covered

Net payout

₩10,500,000

Gross payout

₩11,000,000

Deductible

₩500,000

Estimated repair amount

₩11,000,000

Total-loss threshold

₩20,000,000

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Korean flooded-car own-damage insurance compensation

This English guide follows the Korean calculator logic and preserves the Korean rates, thresholds, statutory periods, and insurance assumptions used by the source page.

Covered, partial loss, and total loss

Flood compensation in Korea depends on own-damage coverage. Liability-only insurance does not pay for the owner vehicle. The Korean function also excludes cases where water entered because a window or sunroof was left open.

The model estimates repair cost from flood level: wheel lower level 7 percent of vehicle value, cabin floor 25 percent, seat level 55 percent, dashboard 90 percent, and engine or roof level 125 percent. If loss reaches vehicle value, the result becomes total loss.

  • For total loss, gross payout is the insured vehicle value and no deductible is subtracted.
  • For partial loss, deductible is based on the selected 20 percent or 30 percent rate.
  • Manual repair-cost mode lets the user override the flood-level estimate.

Deductible caps and post-total-loss duties

Partial-loss deductible is clamped between a minimum and maximum. The minimum is based on the property-damage surcharge base of 50, 100, 150, or 200 in KRW 10,000 units, and the maximum is KRW 500,000 for the 20 percent deductible rate or KRW 1 million for the 30 percent rate.

For total-loss flooded cars, the Korean source warns that scrappage should be requested within 30 days after insurer notice. Failure can lead to an administrative fine up to KRW 3 million. A replacement vehicle purchased within 2 years can qualify for disaster-related acquisition-tax relief under the source assumptions.