What is the Cost of Hyundai Venue Insurance?

Comment Off 19 Views

A crossover SUV is a growing segment in India, with people preferring the combination of the power and space of an SUV with the convenience of a car. Many automobile manufacturers have recently started offering these vehicles in the Indian market. While the market is considered to be niche, competition is rife, with established players like Ford, Maruti, and Mahindra dominating the sector. In such a landscape, Hyundai Venue – a sub-compact crossover SUV – has gained much popularity since its launch in 2019.

In India, third-party four-wheeler insurance is mandatory. However, these policies do not offer coverage for damages to the insured vehicle. Hence, many people opt for comprehensive four-wheelers insurance plans that include third-party and own damage cover. Insurance providers also offer bumper-to-bumper car insurance plans where depreciation is not considered while calculating claim settlement amounts. If you are planning to buy a Hyundai Venue, then you might want to consider buying a policy that offers comprehensive coverage. Many leading insurers offer Hyundai Venue Insurance – a car insurance policy that offers third-party and own damage cover for your Hyundai Venue.

About Hyundai Venue

The Hyundai Venue is a five-seater sub-compact SUV that was introduced in 2019 with a facelift version launched in 2022. It is known for its edgy design, attractive grille, and tyres that make an impression. It stands out in its segment for its build quality, fit and finish of its interiors, and efficient ergonomics. It is available in petrol and diesel motors with various transmissions, making driving a pleasurable experience. It is available in a range of colours, including Fiery Red, Phantom Black, Denim Blue, Typhoon Silver, Titan Grey, and Polar White. The average ex-showroom price of the Hyundai Venue ranges between ₹7.53 lakh and ₹12.72 lakh.

Why is it necessary to buy Hyundai Venue Car Insurance?

Accidents or mishaps cannot always be avoided. If such incidents cause damage to a third party or to your insured vehicle, then the costs of repair can be high depending on the damage. If a third-party person gets injured or dies during an accident caused by your vehicle, then the compensation you might have to pay can also be a financial strain. Non-accident-related damages due to fire, natural disasters, man-made disasters, and theft can also dent your finances.

When you opt for Insurance for Hyundai Venue, you get comprehensive coverage for your car. These policies offer coverage from third-party liabilities and damages to your insured car. You also get coverage if your car is stolen or damaged beyond repair. Hence, you can drive your car without having to worry about these costs.

What is the Cost of Hyundai Venue Insurance?

There are various aspects that impact the Hyundai Venue insurance cost. These include:

  • The variant of the car – petrol/diesel, transmission, etc.
  • The car’s age
  • Your geographical location
  • The choice of the type of policy (third-party or comprehensive)
  • Voluntary deductible
  • Add-on covers chosen
  • Claim history or No Claim Bonus

How Can I Reduce My Hyundai Venue Car Insurance Price?

If you are opting for a comprehensive Hyundai Venue car insurance, then here are two ways in which you can reduce the premium:

  1. Ensure that the Insured Declared Value or IDV of your car is based on the market price of the vehicle. Avoiding boosting it too high to get higher coverage as it will increase the premium too.
  2. Insurance providers offer a voluntary deductible option to help you reduce the premium. When you choose a voluntary deductible, you agree to pay an agreed portion of the claim amount in exchange for a discount on the premium.

Summing Up

If you are looking for complete protection for your Hyundai Venue, then you might want to consider opting for a comprehensive car insurance policy designed for it. Also, while buying the policy, make sure that you go through the list of add-on covers offered and choose based on your needs and expected use of the vehicle. Also, go through the inclusions and exclusions, policy wordings, and terms of the policy before signing the dotted line.

In : Finance

About the author