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It is a matter of utmost pride and joy to own a four-wheeler. However, securing your vehicle with an appropriate insurance policy is equally important to stay financially covered against any damages or losses caused in any incident. Also, to go out with your vehicle on a drive, you must abide by the Motor Vehicles Act of India, 1988. This act mandates that your car must have an active third-party car insurance policy. It covers the third-party damages caused by your car in a road accident.
An accident also may cause a severe impact on your own vehicle. The expense of repairing your car may be financially distressing. Hence, having a car insurance policy that gives complete coverage against third-party liabilities, own damage, and personal accident cover is important.
Bajaj Finance has partnered with leading insurance companies to provide four insurance policies that can specifically cater to your requirements. Insurance policies like Hyundai insurance policy cover damages caused to your own vehicle and third-party life or property. It gives you significant financial relief in case of vehicle mishaps.
Here's a guide to all types of four-wheeler insurance policies for your car to choose a suitable one according to your need.
Following are the types of Hyundai car insurance policies that you can purchase to safeguard yourself against the on-road damages caused by accidents:
Here are major advantages you can avail of by covering your Hyundai vehicle under this policy:
In order to comply with the Motor Vehicles Act of India, you must cover your Hyundai car with an insurance policy. Otherwise, you may face legal challenges or pay a hefty amount as a fine.
You do not have to pay for compensating damages caused to the third-party properties or individuals. The insurer will take care and compensate for the losses after you request policy coverage.
You can cover the repairing costs of your Hyundai vehicle if it meets with an accident. However, you need to know that this benefit is available only with the comprehensive and stand-alone own damage Hyundai insurance policies.
An accident may put severe financial pressure to compensate for the losses it causes. If your Hyundai car is secured with car insurance, you will get financial assistance up to the sum insured from the insurer.
Another major benefit of a comprehensive insurance policy is that you can get your damaged Hyundai vehicle repaired without making payment from your end. For this, you must visit a network garage listed by your insurer.
With Bajaj Finance, you can purchase your Hyundai car insurance online from the comfort of your home. Here are the benefits you obtain by purchasing this plan online:
Here are all the inclusions this four-wheeler insurance policy comes with:
Your claims under this Hyundai insurance policy will be invalid in the following circumstances:
Here is how you can claim the Hyundai insurance policy benefits:
As mentioned earlier, if you purchase a comprehensive Hyundai car insurance plan, you can maximise your financial protection by including several add-ons. Although it increases the cost of your premium to some extent, its benefit may save you financially.
Here are the add-ons you can include within your comprehensive car insurance policy:
Third-party and comprehensive car insurance policies for Hyundai vehicles come at different costs as their encompassed coverage varies. Let’s get a clear insight into the difference in their premiums:
|Basis of difference||Third-party insurance premium||Own-damage insurance premium|
|Factors for weighing the premium amount||In a third-party insurance policy, the insurance companies determine the premium amount according to the vehicle's cubic capacity.||In a standalone insurance policy, the insurer checks the Insurance Declared Value (IDV) along with the cubic capacity to fix the premium amount.|
|Coverage||In this policy, the insurer covers accidental damages and consequent losses of third-party properties/individuals.||This policy covers losses to a car caused due to accidents, or other disasters, such as storms, fires, earthquakes, etc.|
|Amount||The premiums of this type of insurance policy are generally lower.||The premium amount of this policy is higher. So, for Hyundai car insurance renewal, individuals will have to pay more.|
Following are some of the updates you may want to know about the car manufacturer, Hyundai:
Hyundai Creta has held the record for the bestselling SUV in India. Its compact design combined with technologically developed features is one of the reasons behind the high demand in the Indian market.
There is an anticipation that the price of Hyundai Alcazar may reduce. However, this does not mean that the price of existing models will decrease. The manufacturer is going to launch an entry-level variant in this series.
All of these reflect Hyundai's pro-activeness in holding its position as one of the market leaders in India. In case you intend to buy one of the vehicles from this car brand, do not forget to choose a suitable insurance provider. You can visit the official website of Bajaj Finance for your Hyundai car insurance policy requirements. You can get a high IDV value/coverage at an attractive premium.
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