Hyundai i20 Car Insurance

Protect your Hyundai i20 with a comprehensive car insurance policy. Read on to know the coverage, benefits, and features.
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Hyundai i20 Car Insurance
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3 mins
08-Jan-2024

The Hyundai i20 is a symbol of style, performance, and innovation on wheels. This article will take you through various aspects of Hyundai i20 car insurance, including pricing, coverage options, and the types of insurance available, including third-party insurance and comprehensive coverage. This guide will help you make an informed decision to protect your prized possession.

Car insurance is not just a legal requirement but also a smart investment to shield yourself and your vehicle from unforeseen circumstances. The Hyundai i20, with its cutting-edge features and sleek design, deserves a tailored insurance plan that meets its unique needs. Check the key aspects of i20 car insurance, such as pricing, coverage types, and the factors that influence insurance premiums.

Types of Hyundai i20 car insurance policies

There are two main types of i20 car insurance: third-party insurance and comprehensive insurance.

  • Third-party insurance
    Third-party insurance is mandatory in India and covers damages to third-party property or injury/death caused by the insured vehicle. It does not cover any damage to your own vehicle. As it is mandatory by law, the i20 third-party insurance price is set by the Insurance Regulatory and Development Authority of India (IRDAI). The i20 third-party insurance price is calculated based on the engine capacity of the car.
  • Comprehensive insurance
    Comprehensive insurance provides all-round coverage for your i20. It includes coverage for damages to your vehicle, third-party damages, theft, and more. The i20 full insurance price is higher than third-party insurance but provides complete protection for your car. The i20 full insurance price can vary depending on the insurance company and the coverage options selected.

Hyundai i20 models with insurance premiums

Insurance prices for different Hyundai i20 car models may vary based on factors such as the model variant, geographical location, and insurer. Here’s a comparison table highlighting insurance prices for select Hyundai i20 car models:

Hyundai i20 Variant

Insurance premium

Hyundai i20 Era

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Hyundai i20 Magna

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Hyundai i20 Sportz

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Hyundai i20 Asta

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Hyundai i20 Asta (O)

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Hyundai i20 Sportz Dual Tone

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Hyundai i20 Asta (O) Turbo DCT

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Factors affecting i20 insurance price

The i20 insurance price is not a fixed amount and can vary due to several factors, such as:

  • Engine capacity
    The insurance price for the i20 varies based on the engine capacity of the car. Generally, the higher the engine capacity, the higher the insurance price. There also is an option to get an add-on benefit of engine protection cover on your car insurance policy.
  • Age of the car
    The age of the i20 also affects its insurance price. Older cars may have a lower insurance price than newer cars due to their lower market value.
  • Past claims
    If the i20 has had past insurance claims, then the insurance company may charge a higher insurance price.
  • Location
    The location where the car is registered also affects its insurance price. If the area is prone to accidents or theft, then the insurance price may be higher.
  • Security features
    The i20 car insurance price can also be lower if the car has safety and security features, such as anti-lock brakes, airbags, and anti-theft devices.

How to choose i20 car insurance?

Choosing the right i20 car insurance can be a daunting task, but it is important to choose the right one to protect your car. Here are some tips to help you select the best i20 car insurance:

  • Compare quotes
    It is important to compare the different insurance quotes provided by different insurance companies. This will help you to get the best deal for your car insurance.
  • Assess your needs
    Before selecting the insurance plan, assess your needs and the coverage options provided. Different insurance plans have different coverage options, and it is important to choose a plan that suits your needs.
  • Reputation of insurance company
    Choose a reputed insurance company that has a good track record of handling claims and providing customer service.
  • Check premium amount
    Check the premium amount, i.e., the amount you will have to pay periodically for your insurance coverage, before choosing your plan. Make sure that the premium amount is affordable and does not cause an undue financial burden.

Inclusions and exclusions of Hyundai car insurance

Let’s take a look at some of the key aspects that are covered and not covered under a car insurance policy for your Hyundai i20.

Inclusions of Hyundai i20 car insurance:

  • Third-party liability coverage
    Protects against financial losses caused to third parties in case of accidents.
  • Own damage coverage
    Covers repairs for damages to your Hyundai i20 caused by accidents, theft, or natural calamities.
  • Personal accident cover
    Provides financial assistance in case of injury or death to the owner/driver of the Hyundai i20.
  • No Claim Bonus (NCB)
    Offers discounts for claim-free years, reducing renewal premiums.
  • Roadside assistance
    Assistance for breakdowns, towing, and emergency services.
  • Add-on covers
    Options for additional coverage such as zero depreciation, engine protection, and return to invoice.

Exclusions of Hyundai i20 car insurance:

  • Regular wear and tear
    It excludes coverage for gradual deterioration due to regular use.
  • Drunk driving
    Claims arising from driving under the influence of alcohol or drugs are not covered.
  • Illegal activities
    Accidents during illegal activities or with an invalid licence are not covered.
  • Consequential damages
    Damages resulting from a previous incident or negligence are excluded.
  • Mechanical failures
    Repairs for mechanical breakdowns unrelated to accidents may not be covered.
  • Non-disclosed modifications
    Any modifications not declared during insurance purchase may lead to claim rejection.

Also check: Hyundai Creta Car Insurance

How to buy insurance for Hyundai i20 from Bajaj Finance Insurance Mall?

Bajaj Finance Insurance Mall offers a convenient platform for you to buy or renew car insurance plans for your Hyundai i20. Choose from plans offered by leading insurance partners and buy the policy in just a few clicks. Here’s how:

Step 1

Click on 'Get Quote' to open the online application form.

Step 2

Enter the vehicle type, car registration number, mobile number, and residential PIN code. Check the terms and conditions and click on the 'Get Quote' button below.

Step 3

Choose the IDV, NCB value, add-on covers, and plan type to get a list of relevant car insurance policies. You need to update your current policy expiry date here.

Step 4

Click on the ‘Buy Now’ button. You will need to add owner-driver personal accident cover mandated by the RTO. Click on ‘Next’ to proceed.

Step 5

Confirm the vehicle registration date and the previous policy type (comprehensive/third-party). Click on 'Proceed'.

Step 6

Enter the vehicle owner's name, date of birth, residential address, and contact number. Also, enter the vehicle engine and chassis number (as mentioned in RC) and previous policy details.

Step 7

Review your previously filled details and make the payment through your preferred online payment mode. You can use net banking, UPI, or credit/debit card to complete the application process.

Insuring your Hyundai i20 is a crucial step in ensuring a secure and worry-free driving experience. Whether you opt for third-party insurance for budget-conscious coverage or comprehensive insurance for extensive protection, understanding the pricing, coverage options, and factors affecting the premium is essential for making an informed decision.

Frequently asked questions

Is it necessary to purchase a car insurance policy for my Hyundai i20 car?

Yes, it is mandatory to have at least third-party liability insurance as per the Motor Vehicles Act, 1988, to legally drive your Hyundai i20 car on Indian roads. Additionally, having comprehensive insurance coverage provides financial protection against damages to your vehicle due to accidents, theft, natural calamities, and other unforeseen events.

Is my Hyundai i20 car’s engine covered in my car insurance policy?

Generally, standard car insurance policies do not cover damages to the engine due to water ingression or oil leakages unless you have opted for specific add-ons like Engine Protect cover. However, damages to the engine caused by accidents or fire may be covered under the comprehensive insurance policy.

What is the Insured Declared Value and how is it calculated for my Hyundai i20 car?

The Insured Declared Value (IDV) is the maximum sum insured amount that you can claim in case of total loss or theft of your Hyundai i20 car. It is calculated based on the manufacturer's listed selling price of the vehicle minus the depreciation value as per its age. IDV represents the market value of your car at the time of policy purchase and is crucial in determining the premium and claim settlement amount.

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Disclaimer

*T&C Apply - Bajaj Finance Limited (‘BFL’) is a registered corporate agent of third party insurance products of Bajaj Allianz Life Insurance Company Limited, HDFC Life Insurance Company Limited, Future Generali Life Insurance Company Limited, Bajaj Allianz General Insurance Company Limited, SBI General Insurance Company Limited, ACKO General Insurance Limited, ICICI Lombard General Insurance Company Limited, HDFC ERGO General Insurance Company Limited, Tata AIG General Insurance Company Limited, The New India Assurance Company Limited, Cholamandalam MS General Insurance Company Limited, Niva Bupa Health Insurance Company Limited , Aditya Birla Health Insurance Company Limited, Manipal Cigna Health Insurance Company Limited and Care Health Insurance Company Limited under the IRDAI composite CA registration number CA0101. Please note that, BFL does not underwrite the risk or act as an insurer. Your purchase of an insurance product is purely on a voluntary basis after your exercise of an independent due diligence on the suitability, viability of any insurance product. Any decision to purchase insurance product is solely at your own risk and responsibility and BFL shall not be liable for any loss or damage that any person may suffer, whether directly or indirectly. Please refer insurer's website for Policy Wordings. For more details on risk factors, terms and conditions and exclusions please read the product sales brochure carefully before concluding a sale. Tax benefits applicable if any, will be as per the prevailing tax laws. Tax laws are subject to change. Tax laws are subject to change. BFL does NOT provide Tax/Investment advisory services. Please consult your advisors before proceeding to purchase an insurance product. Visitors are hereby informed that their information submitted on the website may also be shared with insurers. BFL is also a distributor of other third party products from Assistance Services providers such as CPP Assistance Services Pvt. Ltd., Bajaj Finserv Health Ltd. etc. All product information such as premium, benefits, exclusions, sum insured, value added services, etc. are authentic and solely based on the information received from the respective insurance company or the respective Assistance service provider company.

Note – While we have made all efforts and taken utmost care in gathering precise information about the products, features, benefits, etc. However, BFL cannot be held liable for any direct or indirect damage/loss. We request our customers to conduct their research about these products and refer to the respective product’s sales brochures before concluding their sale.