Korean travel insurance: the most common payout was for lost or damaged belongings

Many people think of travel insurance only as cover for medical bills. As a result, they rarely look at belongings or flight delay cover when they buy a policy. Yet the category with the most claims paid was not medical.

This guide is based on a News1 report (October 10, 2026) on data that Korea’s Financial Supervisory Service submitted to the office of lawmaker Kim Jun-hwan, covering four Korean non-life insurers.

Most claims by number: personal belongings

According to the data, four insurers (Samsung Fire & Marine, Hyundai Marine & Fire, KB Insurance and DB Insurance) paid 414,936 overseas travel insurance claims from 2022 to July 2026.

Of these, personal belongings accounted for 209,119 claims, or 50.4%, more than half. Injury and illness came second (127,477 claims) and flight delays and cancellations third (55,729 claims).

Most paid by amount: injury and illness

By amount, the order changes. Injury and illness payouts were the largest, more than twice those for belongings, followed by belongings and then flight delays and cancellations. In short, belongings and delay cover are used most often, while overseas medical cover is where large sums are involved.

Three lines to check first

It is tempting to compare premiums only, but these figures suggest checking the coverage items first. Limits and exclusions differ between products, so cover with the same name may pay out differently.

• Belongings cover: the limit and what is excluded
• Whether flight delay and cancellation cover is included, and its conditions
• The limit for overseas injury and illness medical costs

How to read these figures

The statistics are totals for four insurers from 2022 to July 2026 and do not include other insurers. A high number of payouts does not mean one product is better than another. What matters most is checking, in the policy terms, that the cover fits your itinerary, luggage and travel companions.