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 –
Name of the model
The most popular car with which Hyundai launched itself in India, Santro is a small hatchback which is quite affordable. It was relaunched with a new design to appeal to modern tastes. It has 17.64 cm touch screen AV system which can connect with your phone’s Bluetooth for a hands-free experience
Another popular hatchback, the Grand i10 delivers a power-packed performance with a 1.2 Kappa engine with a maximum torque of 11.6kg.m. The car comes equipped with a digital gear shift indicator which indicates the optimum gear which would give the maximum mileage
A stylish sporty sedan, Verna comes with many features like Hyundai Blue Link mobility assistant, Arkamys premium sound system and a 20.32 cm touchscreen AVNT which has a HD display.
Won the award for Indian Car of the Year 2020, Venue is a popular SUV with blueLink technology. The car comes with Kappa Dua VTVT Technology and 1.0 Turbo petrol engine with 6-speed manual transmission. The car has a comfortable and spacious interior ensuring that you have a safe and comfortable drive
The most popular SUV offered by Hyundai, the car has been revamped with a sleeker design and trendy outlook. The car has an advanced Blue Link feature which comes with in-voice car command technology. Other features include voice-enabled smart panoramic sunroof, electric parking brake which has auto hold, powerful engine and auto healthy air purifier
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
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.
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 –
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 –
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 –
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.
Model of the car
INR 16,148 to INR 27,323
INR 17,584 to INR 28,910
INR 21,022 to INR 59,170
INR 16,270 to INR 31,333
INR 36,392 to INR 66,987
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 –
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 –
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 –
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 email@example.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 –
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.
If you have bought your car on or after 1st September 2018, you would have to buy a mandatory three-year third party cover for the car. Own damage cover, however, is available for a period of one year. For older cars, however, the coverage tenure for both third-party and own damage cover is one year after which it should be renewed.
In case of theft of the car, the insurance company pays the Insured Declared Value of the car insurance policy. The Insured Declared Value is the maximum claim payable under the policy. It represents the market value of the car after deducting depreciation based on the age of the car.
The rate of no claim bonus depends on the number of claim-free policy years that you have. The bonus starts at 20% after the first claim-free year and then increases every subsequent claim-free year. The rates are as follows –
No claim bonus rate
No claims in the first policy year
No claims in two successive policy years
No claims in three successive policy years
No claims in four successive policy years
No claims in five or more successive policy years
Voluntary deductible is that portion of the claim which you voluntarily choose to pay from your own pockets. When you choose a voluntary deductible, you reduce the claim burden from the insurance company and due to this the insurance company offers you a premium discount.
Total loss or Constructive Total Loss is considered in those cases when the repair cost of the car exceeds 70% or 75% of the Insured Declared Value of the car insurance policy. In such cases, a claim for total loss is paid. The Insured Declared Value of the car insurance policy is paid in the claim after deducting the salvage value of the totalled car.