Hyundai Car Insurance

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.

Types of Hyundai car insurance policy

Following are the types of Hyundai car insurance policies that you can purchase to safeguard yourself against the on-road damages caused by accidents:

Third-party car insurance policy

It is the basic insurance plan that every Hyundai vehicle must be covered under according to Indian laws. Else, you may have to bear unnecessary penalties. This third-party Hyundai car insurance policy gives substantial coverage against damages to others’ properties or person. It provides compensation if an individual succumbs to an accident or if it causes permanent or temporary disability.

Comprehensive car insurance policy

With a comprehensive Hyundai insurance policy, you get coverage for the damages caused to your vehicle along with losses or damages of the third party. You can also enhance your comprehensive car insurance policy with an add-on cover. You can choose from various add-on covers, such as roadside assistance, passenger protection, etc.

Standalone own damage insurance policy

This insurance plan cover own damage, which means damages caused to your vehicle. It excludes third-party damages. You should purchase this plan only when you have an active third-party insurance policy. Otherwise, you may have to indulge in unnecessary litigation challenges. In addition to accidental damages to your Hyundai car, this standalone own damage insurance policy will cover the losses caused due to vandalism, theft, natural disasters, etc.

Benefits of buying Hyundai car insurance policy

Here are major advantages you can avail of by covering your Hyundai vehicle under this policy:

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  Legal liabilities

  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.

• 

  Stress-free compensation

  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.

• 

  Own damage cover

  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.

• 

  Monetary protection

  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.

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  Network garage

  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:

• You can fill in the application form online from any device to buy your required four-wheeler insurance policy. It saves you time and effort of visiting the insurer’s office.
• You have a minimal documentation process. You do not need to undergo a cumbersome offline documentation process. This will help you save precious time arranging your necessary papers and carrying them to your preferred insurance company.
• It lets you transact the amount virtually from any of your preferred payment modes available on the official website. This reduces your burden of carrying physical cash to get the Hyundai car insurance plan.
• The insurance companies extending policies online ensure that customers get coverage through effortless online claims. You can verify your claims by sending them photos of the damages caused by accidents.

Here are all the inclusions this four-wheeler insurance policy comes with:

• Damages caused to your vehicle owing to natural disasters including cyclones, floods, earthquakes, etc.
• Impacts sustained in your vehicle due to explosions, fire and man-made disasters, like riots, vandalisms, terrorism etc.
• Financial liabilities of the damages of third-party belongings and injuries sustained by a person due to collision with your vehicle
• Compensation for the permanent/total disability or death of a third-party
• Any damage caused to your own car after an on-road mishap
• Total loss of your vehicle in case of theft, or irreparable damages

Your claims under this Hyundai insurance policy will be invalid in the following circumstances:

• If the damages are deliberately caused for getting policy benefits
• In case the driver has no valid driving license during the accident
• When the driver is under the influence of narcotics or alcohol
• Wear and tear impairment and mechanical/electrical damages
• If the damage is caused due to war or nuclear radiations
• When the impacts or collisions happen in a geographical area not covered within your policy

Here is how you can claim the Hyundai insurance policy benefits:

• Step 1: Inform the insurance company by contacting it through its customer care number
• Step 2: Make an appointment to survey your damages
• Step 3: Provide necessary documents to the assessor
• Step 4: Know how much the insurer will cover to compensate your damages
• Step 5: Choose the mode of repair. Either you can opt for a cashless facility through a network garage or repair your vehicle from any garage and get reimbursement.
  If you visit a cashless garage, the insurer will pay the bills directly to the service centre. To get reimbursement, you need to send the invoice for car servicing to the insurance company. After validating the bill, it will provide you with coverage.
  This way, you can complete your claiming process.

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:

• Zero depreciation cover
  Your vehicle’s value decreases over time, depleting the insured amount. With this add-on cover, you can ensure that your vehicles and their parts get immunity from depreciation and get the full repairing cost, without any deduction.
• Engine protection cover
  The engine and gearbox of your vehicle may not function properly or may get damaged due to leakage of lubricating oil or excess water spillage. With this engine protection cover, you can get coverage against the breakdown of these parts.
• Return to invoice cover
  You can get the full ex-showroom price of your Hyundai car if it is stolen or the damages caused to it are not reparable by including this plan within your Hyundai insurance policy. This can significantly help you get over the shock due to your loss.
• Passenger cover
  This add-on covers you and all passengers during the ride. In case of any road mishaps causing injuries to passengers, you can raise a claim to cover the treatment expenses. It also gives compensation against the death and disability of co-travellers.

Third-party premium vs. own damage premium

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.

• What is the Hyundai insurance plan?
  It refers to a car insurance plan that covers vehicles manufactured by Hyundai. You can purchase this insurance plan to cover any of your models from this brand.
• Does Hyundai have its own insurance policy?
  No, Hyundai does not provide insurance. You need to get a Hyundai insurance policy from various insurers in India while buying your vehicle.
• What is Hyundai assurance policy?
  With Hyundai assurance, the car manufacturer has come up with facilities for the new Tucson and Elantra owners. They can enjoy privileges, including warranty, roadside assistance, maintenance package, etc.
• Which car insurance plan is best?
  Every car insurance plan has its own benefits and coverage. You need to decide the coverage you want before choosing an insurance plan. It will help you determine the policy that suits you.
• How can I find my car insurance details?
  Visit the official website of VAHAN e-services or your insurance company to access your policy details. You get the policy details by providing your registration number and get all the details like coverage, premium, inclusion and exclusion, etc.