Team AckoAug 16, 2022
Hatchbacks are compact cars suitable for nuclear families or for people who travel alone. The maximum seating capacity of hatchback cars is four people. Hatchbacks fulfill the minimum requirements of a car and are quite inexpensive to purchase. Some low-end models like the TATA Nano cost approximately Rs. 1.5 lakh.
Some hatchbacks like Maruti Suzuki Baleno or Hyundai Elite i20 begin at Rs. 6.5 lakh. This difference in price is due to the presence or absence of certain features offered. For example – the number of safety features, comfort, inbuilt infotainment systems, etc. Depending upon the ex-showroom price of the car and included features, the cost of insuring these hatchbacks also changes.
Hatchback cars offer a combination of decent load-bearing capacity and can carry passengers comfortably. A hatchback can be distinguished with the help of its peculiar features like a hatch-type rear door that opens upwards, smaller size, five doors (including the rear hatch), and less number of pillars (A, B and C pillars).
Hatchback cars came into existence around the 1960s and became a sensation through the 1970s. A hatchback called ‘Countryman’ developed by The British Motor Corporation is considered to be one of the very first of its kind. However, modern cars have evolved and are not similar to this generation of hatchbacks.
Car insurance policies can be of two types – Third party insurance and Comprehensive insurance. The difference between these two lies in the coverage offered. A third-party policy provides coverage for mishaps with the involved third party. And as the name suggests, the latter provides a comprehensive coverage for third-party, damages to the insured car and Add-on coverages.
This price has the direct effect on car insurance premium. IDV i.e. Insured Declared Value is calculated based on the ex-showroom price. The IDV is 95% of the Ex-showroom price for a one-year-old car.
NCB is the abbreviation of No Claim Bonus. It is the discount offered on car insurance renewal for driving safely during the previous policy period. NCB is cumulative in nature and increases with each consecutive claim-free year. You can get up to 50% discount on the policy premium if no claims are raised in 5 consecutive years.
A deductible is an amount one needs to pay at the time of claim settlement. There are two types of deductibles – Compulsory and Voluntary. The compulsory deductible has to be paid at the time of claim. However, the amount of Voluntary deductible can be set by you. This has an impact on the premium as you have promised to pay a part of the claim amount in advance.
Add-ons are additional coverage options offered with a comprehensive car insurance policy. The more number of Car Insurance Add-ons one buys, the more will be the cost of their car insurance policy.
Installing an anti-theft device on your hatchback might decrease the cost of a policy to some extent. Insurance companies appreciate the fact that you take an initiative to secure your car against theft and thus consider offering a discount.
Also, read: Vehicle Scrappage Policy in India
Based on the above factors, one can gauge the cost of insuring a hatchback to be between Rs. 10,000 to 25,000. This again depends on the factors that affect your car insurance premium. However, the money you pay to get your hatchback insured is way less compared to the amount you would have to pay in case of an unfortunate event. Thus, secure yourself and your car with insurance not only because it is mandatory by law but to be prepared in case of accidents, theft, etc.
|Maruti Swift||Rs. 12,000 to 22,000|
|Maruti Suzuki Baleno||Rs. 15,000 to 20,000|
|Tata Tiago||Rs. 10,000 to 15,000|
|Hyundai Elite i20||Rs. 20,000 to 25,000|
|Maruti Suzuki Celerio||Rs. 12,000 to 15,000|
One of the best methods to buy a new car insurance policy for your hatchback car is to go online. Buying car insurance online will not only help you get the best deal but also the most suitable policy. You will have to buy a new car insurance policy if you are buying a new car.
Buying car insurance online also offers the advantage of car insurance comparison. With the help of car insurance comparison, you can understand the different features and services offered by various insurance companies. Remember that buying your car insurance online will allow you to review the coverage of your policy with each renewal and you can save even more money on your hatchback car.
Hatchback cars offer space and convenience over the luxurious sedan cars. They offer the convenience of driving in narrow spaces where a usual sedan or SUV may not fit. For example, driving a hatchback on a traffic-laden road is easier as compared to driving larger models of other types of cars.
It is easier to learn driving on a hatchback car as compared to a sedan or SUV. Sedans may have complex mechanisms like additional gears or complicated control panels. This is not the case with a hatchback. These cars consist of some of the most basic models. Thus they are considered to be the best for new drivers. If you have a learning driver in your family, you can consider buying a hatchback rather than choosing other types of cars.
India serves as a huge market for hatchback cars. Models like Maruti Wagon R are manufactured in the country. This is one of the main factors that contributed to the maintenance cost being lower as compared to other types of cars. The availability of spare parts is high when it comes to Indian automobile manufacturers. This not only speeds up the repair/replacement process but also lowers the final cost.
As mentioned earlier, a hatchback car is capable of carrying a decent amount of goods/load plus passengers. To serve this purpose, you will receive a large boot space in your hatchback car. This makes it an ideal fit for families with fewer members, singles, and people who travel alone and carry load.
Nowadays, people prefer to change the fuel type of their car to CNG due to its affordability. The CNG kit mainly consists of a large cylinder filled with CNG fuel and control options. Enhanced boot space of hatchback cars serves as a perfect fit for installing the CNG kit, making this category of cars even more popular.
In India, buying a hatchback is cheaper than buying a sedan or SUV. We have numerous options like Maruti Alto, Maruti Wagon R, Tata Tiago, Hyundai Santro, and many more that cost less than 5 lakh rupees. As mentioned earlier, their maintenance cost is also low.
Thus, a hatchback is a complete package consisting of useful features and low cost. Those who wish to avail more features can always opt for premium hatchback models. The above factors make hatchback cars a popular choice in the Indian market.
|Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on industry experience and several secondary sources on the internet; and is subject to changes. Please go through the applicable policy wordings for updated ACKO-centric content and before making any insurance-related decisions.|
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