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In the unfortunate event of damage to your Hyundai Verna, repair and replacement costs can quickly add up, reaching a significant amount. To shield yourself from unexpected expenses, having a  car insurance plan for Hyundai Verna is essential. You have three main options: third-party insurance, standalone coverage, or comprehensive coverage. 

 

Opting for comprehensive car insurance provides coverage not only for damages to third parties but also for your own vehicle.

Hyundai Verna Variants with Car Insurance Premiums

Variant

Transmission

Engine & Displacement

Ex-showroom Price in New Delhi (in ₹ and Lakhs)

Estimated Third-Party Insurance Premium (2023-2024)

EX - 1.5L Petrol MT

Manual

1.5L Kappa (1497cc)

9.99 - 10.14

₹3,416

S Plus - 1.5L Petrol CVT

Automatic

1.5L Kappa (1497cc)

10.84 - 11.03

₹3,416

SX Opt - 1.5L Petrol IVT

CVT

1.5L Kappa (1497cc)

11.64 - 11.83

₹3,416

SX Opt Turbo DCT - 1.4L Petrol

Automatic

1.4L Gamma (1482cc)

13.85 - 14.04

₹3,416

EX - 1.5L Diesel MT

Manual

1.5L U2 CRDi (1493cc)

11.54 - 11.69

₹3,416

S Plus - 1.5L Diesel AT

Automatic

1.5L U2 CRDi (1493cc)

13.09 - 13.24

₹3,416

SX Opt - 1.5L Diesel AT

Automatic

1.5L U2 CRDi (1493cc)

14.69 - 14.84

₹3,416

Disclaimer: Please note that the aforementioned figures are only indicative and are subject to change.

How to Buy Car Insurance Online

  • Navigate to the ‘Car Insurance Premium Calculator’ section.

  • Enter your Hyundai Verna’s registration number and your mobile number. You may also need to provide a few other relevant details. 

  • Browse the insurance plans available for your car and pick one that suits your needs.

  • Pay the insurance premium online.

 

That’s it! The policy document will be sent to your registered e-mail ID.

Why Do You Need an Insurance Plan for Your Hyundai Verna?

Owning a Hyundai Verna comes with the joy of driving a stylish and efficient car. However, the roads can be unpredictable, and accidents or damages are always a possibility. This is where having a reliable insurance plan for your Hyundai Verna becomes crucial. An insurance policy ensures that you are financially protected in case of unforeseen events, offering peace of mind while on the road.

Which Type of Car Insurance Plan Should You Buy for Your Hyundai Verna?

1. Third-Party Liability Insurance:

  • Coverage: This type of insurance provides coverage for damages and injuries you may cause to others in an accident where you are at fault. It typically includes property damage and bodily injury liability coverage.
  • Mandatory or Optional: Third-party liability insurance is often mandatory in many regions, as it ensures that you can compensate others for their losses in an accident you caused.

  • Why Consider It: It satisfies legal requirements, protects your financial assets, and ensures that you can cover the costs of damage or injuries you cause to others.

2. Comprehensive Insurance:

  • Coverage: Comprehensive insurance offers coverage for a wide range of events that may damage your vehicle, including theft, vandalism, natural disasters, and collisions with animals.

  • Mandatory or Optional: Comprehensive coverage is typically optional, but it is recommended for those seeking extensive protection for their own vehicle.

  • Why Consider It: It provides comprehensive protection beyond just collision incidents, ensuring that your car is covered in various situations, such as theft or damage from natural disasters.

3. Standalone Insurance:

  • Coverage: A standalone insurance policy usually refers to a single type of coverage, such as comprehensive or collision, without bundling it with other coverage types. For example, you can purchase standalone comprehensive insurance without including liability coverage.
  • Mandatory or Optional: The decision to opt for standalone coverage depends on individual preferences and circumstances. In some cases, it might be required, while in others, it's a matter of choice.
  • Why Consider It: Standalone insurance allows you to tailor your coverage to specific needs. For instance, if you have liability coverage through another source (such as mandated state insurance), you might choose standalone comprehensive coverage to focus on protecting your vehicle.
  •  

When deciding on the most suitable insurance plan for your Hyundai Verna, consider factors such as your driving habits, the value of your car, and your willingness to cover a broad range of risks. Many individuals opt for a combination of coverage types to ensure both liability protection and coverage for their own vehicle. As always, it's advisable to carefully read and understand the terms and conditions of any insurance policy before making a purchase.

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What’s Covered?

With a comprehensive insurance plan for your Hyundai Verna, you can enjoy coverage for:

  • Accidents: Damages to your car due to collisions.

  • Theft: Protection against theft or burglary of your vehicle.

  • Natural Disasters: Coverage for damages caused by natural calamities like floods or earthquakes.

  • Third-Party Liabilities: Financial protection for damages to other people or their property.

What’s Not Covered?

While comprehensive insurance provides extensive coverage, certain things may not be included:

  • Wear and Tear: Regular wear and tear of your vehicle over time.

  • Mechanical Failures: Damages due to mechanical breakdowns.

  • Intentional Damage: Damages caused intentionally or due to negligence.

Add-on Covers to Enhance Your Car Insurance Plan

Car insurance plans come with some useful add-on covers or riders to fortify your car’s insurance coverage. Here are some of those add-on covers that offer extra coverage for your Verna car:

  • Roadside Assistance Cover
    Covers the cost of availing immediate repair and replacement services such as flat tyre repair, and quick fuel delivery, when you are stranded with your Verna car during an emergency.

  • Engine Protect Cover
    Offers financial aid for the repair of Verna engine’s damage that may be caused by oil leakage, water seepage, or any other corrosive incidents.

  • Personal Baggage Cover
    Covers loss or damage caused to your baggage lying in your Verna car during an accident.

  • Consumables Cover
    Offers financial support for consumable replacement or repair such as coolant, engine oil, brake oil, etc., post an accident.

  • Invoice Cover
    In the event of a total loss of your Verna due to theft or a grave accident, this add-on permits you to claim as much as Verna car’s insured declared value (IDV) or its on-road price.

Filing a Claim - Things to Know

In case of a claim, you are required to submit the following documents:

  • Duly filled and signed claim form

  • Copy of the insurance policy

  • Copy of the vehicle’s registration certificate (RC)

  • Licence copy of the driver driving the vehicle at the time of the accident

  • Copy of the FIR registered

 

There are two types of car insurance claims:

Claiming a Cashless Car Insurance Policy

With a cashless claim, you'll be able to get your damaged car repaired at a network garage near you. Your insurer will pay the garage after the repairs are completed.

Claiming Reimbursement

With this claim, you can choose a garage of your preference and get your damaged car repaired at your own expense. Once the repairs are completed, you can file a claim for reimbursement from your insurance provider. Post the completion of the processes, the funds will be transferred into your account.

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Reduce Your Insurance Premiums: Tips and Tricks

Here are some ways to help reduce your car insurance premium:

  • No Claim Bonus Rewards

Use your No Claim Bonus (NCB) rewards to get a cost-effective renewal premium on your car insurance policy. You can earn NCB rewards by making zero claims throughout the policy tenor.

  • Avoid Filing Small Claims

Avoid filing car insurance claims for inexpensive repairs and secure your No Claim Bonus (NCB) reward.

  • Install Anti-theft Devices in Your Car

You can install anti-theft devices authorised by the Automotive Research Association of India (ARAI) to get an additional reduction in the insurance premium.

  • Compare Premiums 

Don’t forget to compare the car insurance premium quotes offered by various companies to get the best plan that suits your needs!

Check Out Car Insurance Partners Available at Bajaj Markets

FAQs

What types of car insurance are available for Hyundai Verna?

There are two main types of car insurance available in India for Hyundai Verna:

  • Third-party car insurance: This is the minimum mandatory cover required by law. It covers the financial liabilities arising from any damage or injury caused to a third party person or property due to an accident involving your Verna.

  • Comprehensive car insurance: This provides coverage for your own car, in addition to third-party liability. It covers damages or losses caused by accidents, theft, fire, natural disasters, etc.

What is the cost of car insurance for Hyundai Verna?

The cost of car insurance for Hyundai Verna depends on various factors, such as:

  • IDV (Insured Declared Value): This is the market value of your car as determined by the insurance company. Higher IDV means higher premium.

  • Your location: Premiums are generally higher in metros and cities compared to rural areas.

  • Your age, gender, and driving experience: Younger drivers, especially males, are considered higher risk and pay higher premiums.

  • Add-on covers: Additional covers like zero depreciation, engine protection, etc., increase the premium.

    You can get an estimate of your car insurance premium online using car insurance comparison websites or by contacting different insurance companies.

What are the benefits of buying car insurance online for Hyundai Verna?

There are several benefits of buying car insurance online for Hyundai Verna:

  • Convenience: You can compare quotes from different insurance companies and choose the best one at your own convenience.

  • Paperless process: Most of the paperwork can be done online, saving you time and effort.

  • Discounts: You may get discounts for buying your car insurance online.

How can I make a claim for my car insurance?

In case of an accident or any other covered event, you should immediately inform your insurance company. They will guide you through the claims process. You will need to provide them with the necessary documents, such as a copy of your car insurance policy, the FIR (if applicable), and repair bills.

Additional tips:

  • Read the terms and conditions of your car insurance policy carefully before buying it.

  • Choose an insurance company with a good claim settlement ratio.

  • Renew your car insurance policy on time to avoid any penalties.

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