Hyundai Car Insurance : Compare Plans, Renewal Process, Coverages & More

When it comes to buying cars, Hyundai Motors is a leading name in the car insurance segment. The company offers a range of cars for the Indian consumer ranging from affordable models to premium ones. Hyundai Motor India Limited (HMIL) was founded on 6th of May 1996 as a wholly-owned subsidiary of the Hyundai Motor Company (HMC). Hyundai Motors India boasts of being the second-largest car manufacturer in India with its unit located in Chennai. The company is also the primary car exporter in India and an important part of Hyundai Motor Company’s export hub. Hyundai Motor India currently exports to 88 countries across different continents like Latin America, Africa, Australia, the Middle East and the Asia Pacific. In India, the company has 93 dealers and more than 1300 service points across the country.

Though Hyundai Motors has a range of cars in India, some of its popular models include the following –

Hyundai car insurance

You can choose to buy any Hyundai car as per your preference and budget. However, whichever car you buy, you should know that every Hyundai car should carry a valid insurance cover on it so that you can drive it on Indian roads. The Motor Vehicles Act, 1988 mandates a valid third party cover for every car being driven in India and Hyundai cars are no different. So, you need a Hyundai car insurance policy on any Hyundai car that you buy.

When it comes to buying Hyundai insurance in India, there are two types of car insurance policies which you can choose from. These types include the following –

The types of Hyundai car insurance

1. Third-party liability-only policy

   This is the mandatory cover which the Motor Vehicles Act, 1988 stipulates. Under this policy, any liability which you incur because of third-party injuries or damages would be covered. So, if any individual suffers any bodily injury or property damage due to the car, the liability suffered would be covered by the policy.

2. Comprehensive package policy

   A comprehensive policy is one which covers both third party liability and the damages suffered by the car. The policy, therefore, provides an inclusive scope of coverage where the mandatory third party coverage is allowed along with the damages which your car might suffer itself.

Inclusions in Hyundai car insurance

The perils which are covered by the Hyundai car insurance policy depends on the policy that you opt for. Inclusions of a comprehensive policy are wider than the inclusions of a third party plan. So, let’s understand the coverage inclusions of both these types of plans –

1. Third-party liability plans
   • Death of a third party and the financial liability suffered thereof
   • The bodily injury suffered by a third party and the financial liability suffered thereof
   • Third-party property damage and the financial liability suffered thereof
2. Comprehensive package plans
   • Death of a third party and the financial liability suffered thereof
   • The bodily injury suffered by a third party and the financial liability suffered thereof
   • Third-party property damage and the financial liability suffered thereof
   • Damages suffered by the car due to natural calamities like earthquakes, flood, lightning, storm, typhoon, hurricane, landslide, subsidence, etc.
   • Damages suffered by the car due to man-made calamities like fire, explosion, riots, malicious acts, etc.
   • Damages suffered by the car when it is transported through water, air or road

Additionally, under both the plans, a personal accident cover is also provided which covers accidental death and disablement suffered by the owner or driver of the car. This cover pays a lump sum benefit in case of death and disablement for covering the financial loss suffered.

Exclusions in Hyundai car insurance

There are instances when the car insurance policy doesn’t cover the damages suffered. These instances are called policy exclusions and they include the following –

1. Damages suffered due to war and nuclear perils
2. Damages suffered when driving without a valid driving license 
3. Damages suffered when driving under the influence of alcohol or other intoxicating agents
4. Damages suffered when driving outside the Indian borders
5. Depreciation of the car and its parts and normal wear and tear
6. Consequential losses
7. Damages suffered when the car is not being used within its limitations
8. Deliberate accidents
9. Damages suffered when engaging in hazardous activities or criminal acts

Add-ons in Hyundai car insurance

Comprehensive car insurance plans offer optional add-ons which help in increasing the scope of coverage of the policy and, in many cases, also the claim amount. Some of the most common and popular add-ons in Hyundai insurance plans are as follows –

1. Roadside assistance add-on
   If your car breaks down in the middle of the road and cannot be taken to the nearest garage, the roadside assistance add-on promises 24*7 assistance. Under this add-on, the insurance company provides you with the required assistance in case of emergencies like towing, fuel provision, flat tyre replacement, jump-starting the battery, etc.
2. Zero depreciation add-on
   Whenever a claim is made in your car insurance policy, the insurance company pays for the depreciated parts of the car which are repaired or replaced. This cost is considerably lower than the actual costs incurred and so you end up paying a considerable portion of the claim from your pockets. Zero depreciation add-on helps in this regard. The add-on removes the effect of depreciation and the insurance company pays the actual cost of repairs or replacement of the damaged parts of the car.
3. Return to invoice add-on
   Under this add-on, if your car gets totally damaged or stolen, the insurance company pays the invoice price of the car as claimed and not the Insured Declared Value of the car insurance policy.
4. Engine protect add-on
   If there is water-seepage into the engine of your car and the engine is damaged consequently, your car insurance policy would not cover the damages suffered. However, if this add-on is selected, engine damage due to water seepage would be covered under the policy.
5. NCB protect add-on
   NCB is the no claim bonus which you get if you make no claim in a policy year. This bonus also increases with every subsequent claim-free year but if there is a claim, the entire bonus is lost. The NCB protect add-on helps preserve the no claim bonus even if you make a claim in your car insurance plan.
6. Personal accident cover for passenger
   While a normal car insurance plan comes with an inbuilt personal accident cover for the owner or driver of the car, this add-on provides the coverage for the passengers of the car as well.
7. Consumables cover
   The consumables cover add-on provides coverage for the cost of consumables incurred during repairing. This cost is not covered under the car insurance policy without the add-on.

A premium of Hyundai car insurance

A premium of Hyundai car insurance plan depends on the car that you buy, its model and variant and the policy that you choose. Third-party premiums are fixed by the Insurance Regulatory and Development Authority of India (IRDAI) depending on the engine capacity of the car. Third-party premiums are, therefore, same across all insurers. Comprehensive policy premiums, however, vary across insurance companies. 

The range of premium for the afore-mentioned top five models of Hyundai is given below assuming that the car is bought in Mumbai, is manufactured in the year 2020 and is a petrol variant.

Discounts in Hyundai car insurance

There are different types of discounts which you can get in your Hyundai car insurance premium. These discounts are offered by insurance companies and help in reducing the premium payable for the policy. The different types of discounts which can be availed include the following –

1. Discount for installing safety devices in the car
2. Discount for choosing a voluntary deductible in the policy and bearing a part of the claim yourself
3. No claim bonus discount for not making a claim in the previous policy year
4. Discount for buying the policy online
5. Discount for modifying the car for the use of a disabled individual
6. Discount for having a membership of a reputed automobiles association
7. Discount for owning another insurance policy of the insurance company

How to buy a Hyundai car insurance?

You can buy Hyundai car insurance online through Turtlemint. Turtlemint is an online platform which is tied up with leading car insurance providers. When you choose Turtlemint for buying Hyundai insurance, you get some of the best quotes of the industry. You can, then, compare the available quotes to find the one which offers the best coverage benefits at the lowest rate of premium. You can also choose the required add-ons to enhance the scope of coverage of your policy and the quotes would be updated for comparison. Once you select the best car insurance policy for your Hyundai car, you can buy the policy online from Turtlemint’s platform. The process is as follows –

1. Visit https://www.turtlemint.com/car-insurance/ and enter in your car number to continue to find the quotes of different car insurance plans. Alternatively, you can leave behind your contact details for Turtlemint’s expert executives to get in touch with you and help you buy the most suitable policy for your Hyundai car.
2. If you don’t have a car number, you can proceed without that too by entering in your registration location
3. Thereafter, you should provide your make and model of your car, manufacturing year, fuel variant and the variant of the car
4. Details of the previous policy if you have one otherwise the type of policy that you want for your new car
5. You can also provide your contact details to save your quote. Thereafter, you would be shown the quotes of leading insurance companies. 
6. Compare and choose the policy which most suits your needs. Pay the premium online and the policy would be issued instantly

How to do the Hyundai car insurance renewal?

You can do Hyundai car insurance online renewal easily from your home or office. You can choose your existing insurance company to renew the policy. For that, you just have to visit the insurer’s website and enter your policy number. You would be shown your policy details. You can make changes in your policy with respect to the add-ons that you need and you would be shown the updated premium. Pay the renewal premium online and your policy would be renewed instantly.

Hyundai car insurance online renewal can also be done through Turtlemint. If you are an existing customer, you can simply log into your Turtlemint account and choose to renew the policy from there. You can also compare quotes from other insurers at the time of renewals and switch your policy to another insurance company if you get a better deal.

Making a claim in Hyundai car insurance policy

The claim process for your Hyundai car insurance plan is quite simple. You just have to follow some simple steps to make a valid claim in your car insurance policy. These steps are as follows –

1. In case of any type of claim, immediately contact the insurance company and inform them of the claim. This step is necessary to register your claim so that it can be processed
2. In the case of third party claims, you would have to file an FIR with the police. The claim would, then, be taken to the motor accidents claim tribunal where the claim amount would be determined. Based on the financial liability determined by the tribunal, the insurance company would pay the claim to the third party itself
3. In case your car is damaged, the insurance company would ask you to take your car to the nearest preferred garage. Once the car is at the garage, the insurer’s surveyor would visit the garage for inspecting the damage
4. The surveyor would file a claim report mentioning the possible amount of claim
5. Based on the surveyor’s report, the insurance company would approve the claim and the repair work would begin
6. The garage would do cashless repairs on your car and the bills would be settled by the insurance company directly. Once the car is repaired, you would be given delivery after the claim is completely settled
7. If alternatively, you take your car to a non-networked garage, you would have to pay the repair costs from your pocket. Once the car is repaired you should submit your claim with the insurance company along with all the repair bills and the insurance company would reimburse you for the costs incurred.
8. If your car is stolen, you should file a police FIR. Thereafter, the police would try and locate your car. If they are unable to do so, they would issue a non-traceable certificate which you should present to the insurance company to get a settlement of your claim.

You can also inform Turtlemint for your car insurance claims. Turtlemint has a dedicated claim settlement department which would process your claims and help you get the settlement at the earliest. Since Turtlemint has experts, they can follow the correct claim procedure on your behalf and expedite your claim settlement. Just inform Turtlemint of your claim at 1800 266 0101 or send them an email at support@turtlemint.com and your claims would be handled.

Documents required for Hyundai car insurance claim

For the settlement of your Hyundai car insurance claim, you have to submit some relevant documents. These documents include the following –

1. Your driving license
2. The claim form, duly filled and signed
3. RC book of the car
4. Policy document
5. Police FIR for theft of the car or third party claims
6. Repair bills of the garage in original
7. Any other document as required by the insurance company

Hyundai has a range of cars to offer for all your conveyance needs. Choose a suitable car based on your needs and don’t forget to insure the car under a valid insurance policy so that you can comply with the law.