Drivers who sign up for the odd-even license plate special rider will receive a 2% discount on their annual auto insurance premium.
The Financial Services Commission announced the measures at the fourth meeting of the Special Committee on Economic Response to the Middle East War held at the National Assembly Members' Office Building on the 27th. Commissioners of the Special Committee on Economic Response to the Middle East War, the Financial Services Commission Secretary-General, the General Insurance Association of Korea chair, and the heads of five non-life insurers—Samsung, Hyundai, KB, DB and Hanwha—attended the meeting.
The discount applies to personal auto insurance policyholders, and excludes corporate and commercial vehicles. Electric vehicles, which are exempt from the public institutional sector's 2/5 odd-even restriction, are also excluded from this rider, and high-end vehicles valued at 50 million won or more are excluded for equity in support. As a result, about 17 million vehicles are expected to benefit from the rider.
The discount rate applies equally across all insurers, and the individual discount amount is calculated based on the participation period. Policyholders who enroll in the rider will receive a refund of the discount amount at the expiration of their existing policy. For example, if 700,000 won was paid as the premium in Apr. 2026 and the rider is maintained for one year, about 14,000 won will be refunded in Apr. 2027. Double enrollment with a mileage discount rider is also allowed, so a tangible reduction in the premium can be expected.
To prevent confusion with the public institutional sector's 2/5 odd-even system, the no-drive day for rider participants is designated based on the last digit of the license plate. Monday restricts 1 and 6, Tuesday 2 and 7, Wednesday 3 and 8, Thursday 4 and 9, and Friday 5 and 0. For example, if the plate number is 1111, Monday is the participation day.
Even if an accident occurs while driving on a no-drive day, the insurance benefit will be paid in full. However, the discount provided on the condition of complying with the 2/5 system will not apply, and a special surcharge may be applied when calculating the next year's premium.
Starting the week of the 11th of next month, insurers will take advance indications of intent to enroll in the rider from auto insurance policyholders prior to the product launch. Methods differ by insurer, including phone, email, and notification messages, and customers will be individually notified via website or message about a week before the start of intake, in the week of May 4. Those wishing to enroll must fill out an odd-even participation application. Even if an advance application is made, actual enrollment in the rider will proceed through a separate process after product development and system setup are completed, from the week of May 18 onward.
For those who enroll in May, the rider will be applied retroactively to Apr. 1. If a rider participant complied with the odd-even system during the enrollment period, the discount period includes from Apr. 1. However, if an accident already occurred between Apr. 1 and the application date, the discount applies only to the period after enrolling in the rider.
A verification process for driving records will also be introduced to ensure fair operation of the rider. Insurers plan to confirm compliance with the 2/5 system by using a driving record application (app) or existing mileage rider data (such as connected cars). If vehicle operation is confirmed on a no-drive day, the rider discount may be limited.
Support for commercial vehicle drivers will also be strengthened. To ease financial burdens on low-income people, eligibility for the "preferential discount rider for low-income people" will be expanded to commercial vehicles. Eligible drivers include basic livelihood security recipients, people with severe disabilities, and those with a combined spousal annual income of 40 million won or less, with discounts ranging from 1% to up to 8% depending on the insurer and enrollment channel. Face-to-face contracts offer up to 8%, telephone (TM) contracts about 3.0%–5.1%, and online (CM) contracts about 1%–5.4%.
Previously, only personal or business auto insurance policyholders could use this rider, but eligibility will be expanded to include commercial auto insurance policyholders with cargo trucks of 1 ton or less. Insurers plan to launch the products sequentially in May after going through product development procedures.