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Korea’s oldest motor vehicle manufacturer Kia Motors set foot in India in 2017. The carmaker’s first manufacturing plant in India at Andhra Pradesh is capable of producing nearly 300,000 units per year. In 2019, the company launched its first vehicle in India, Kia Seltos. Read on to learn about Kia insurance, how to buy and renew online, the claim procedure and answers to some of the frequently asked questions.
Motor insurance for your Kia vehicle is of utmost importance since it acts as a shield against possible losses or damages to the third party as well as the insured vehicle. Besides, the cost of replacing damaged parts can sometimes be expensive. Below are the main benefits of Comprehensive insurance for your Kia cars.
Coverage for third party life and property.
Coverage for the insured vehicle in case of damages.
Personal accident cover for owner-driver.
In case of theft or total loss to the insured vehicle, get the sum insured amount.
Coverage against man-made calamities such as riots, vandalism,etc.
Coverage against natural calamities such as floods, storms, earthquakes, etc.
Coverage against damages or losses due to fire.
Car insurances are mainly segregated by two types, they are.
This type of car insurance covers third party life and property; however, it does not cover damages to the insured car.
Under this type of car insurance, both third party and the insured vehicle are covered along with the option to choose Add-on covers.
|Coverage||Comprehensive Insurance||Third-Party Insurance|
|Third-party life and property||✔||✔|
|Damages to the insured car||✔||✘|
|Man-made calamities (riots, vandalism)||✔||✘|
|Personal Accident (PA) cover for owner-driver||✔||✔|
|Modify the Insured Declared Value (IDV)||✔||✘|
Insurance for an automobile is the mandatory Third-party car insurance or optional Comprehensive cover. To ensure your vehicle is covered and coverage for third parties, it is possible through Comprehensive car insurance compared to Third-party car insurance. The latter offers benefits with the following coverage:
Damages to the insured vehicle.
Personal Accident cover for the policyholder or the owner-driver.
Damages or losses to the third-party property or life.
Coverage against theft.
Damages or losses due to man-made calamities such as riots, vandalism, etc.
Damages or losses due to natural calamities such as floods, earthquakes, storms, etc.
Damages or losses due to fire, explosions, etc.
All types of insurances have their limitations or exclusions. So does the auto insurance for your Kia vehicle. Below are the exclusions of Kia insurance:
Regular wear and tear of car parts caused over the years.
Damages or losses while driving the insured vehicle without a valid driving licence.
Found driving the insured car in an intoxicated state.
Mechanical or electrical breakdown.
Damages or losses caused while driving outside the specified geographical limits.
The mandatory Third-party insurance policy covers the liabilities of a third party, while the Comprehensive insurance covers the liabilities of the third party as well as Own Damage (OD). The following Add-on covers for your Kia car insurance offer an added coverage for your vehicle:
Without factoring the element of depreciation on the value of the car, the insurance provider pays the claim amount.
Engine Protection Cover:
Extra shield to protect your engine in case of leakage of oil or physical damage to your gearbox or due to water ingression to your engine.
Invoice Protection/Return to Invoice:
In case of a total loss due to fire or if the insured vehicle is stolen, you claim up to the ex-showroom price of your vehicle.
NCB (No Claim Bonus) Protection:
Protect your NCB even if you register a claim during the policy period without forgoing the discount.
Provides coverage of the cost of consumables which is not available with the basic insurance plan.
High-value accessories such as a high-end stereo system, instrument console, or reverse camera are covered.
It provides immediate assistance in case of a mishap or a breakdown of your car along with emergency towing, flat tyre service, emergency fuel, repair on the spot, etc.
Digital insurance companies such as Acko are transforming the insurance industry with its innovative technology which is aimed at providing an excellent experience to customers. Below are the benefits of Acko car insurance for your Kia:
Whether to buy, renew or to even register a claim, the entire process is online by raising a request on the website or the smartphone app.
The entire process is online and hence is much quicker that the traditional method of paperwork.
Throughout the policy period, get expert advice on buying, renewing and settling claims from trained professionals.
The claim procedure through new-age digital insurance companies has become efficient and hassle-free. Below are the steps to register claim from your Kia car insurance policy:
Step 1: Call the insurance company and inform them about the same.
Step 2: Ensure you register the claim.
Step 3: File an FIR (if required) at the nearest police station.
Step 4: Upon raising the claim, the insurer will assign a surveyor to inspect the damage and assess the cost.
Step 5: If the insurance policy offers cashless claims, the insurance company will settle the bill and you do not have to pay from your pocket.
Step 6: in the case of a non-cashless claim, you have to submit the bills and receive reimbursement for the same.
Below are answers to some of the frequently asked questions about car insurance in India:
The traditional or the conventional method of buying car insurance for your Kia vehicle will require you to fill the required paperwork, approach the branch or the agent to buy Kia car insurance. However, this is not required in the case of new-age digital insurance companies such as Acko. They strive to provide paperless, hassle-free and technology-driven transactions. From the initial step of buying car insurance, renewal of the policy to the servicing of claims, everything is online. Simply visit the insurer’s website or their smartphone app to buy car insurance online.
The cost of car insurance or the premium depends on the model, variant, year of manufacture, the location of the vehicle, fuel type, etc. Hence, the variant or the cost of the vehicle determines the car insurance premium for Kia cars. However, insurance costs are lower when opted through digital insurance companies. This is because they have removed the aspect of middlemen or insurance agents which has led to a reduction in operation costs, which is passed on to the customer. Online car insurance is transforming the way insurance is offered by an insurer.
Instantly. Yes, this is possible through digital insurance providers who have moved the complete process of car insurance renewal online. Simply visit the company’s website or download their mobile app to renew the policy instantly and receive the policy to your registered email address.
Below is the list of mandatory documents required while insuring your Kia car: >Registration certificate of the vehicle. >ID and Address proof of the policyholder. >Pollution Under Control (PUC) Certificate. >Previous policy details in case switching to a new insurance company.
While the insurance cost for all vehicles is determined by the value of the car, the model, the year of manufacture, the variant, and the location of the vehicle, you can still reduce the cost of the insurance. This is possible if you are a member of the Western India Automobile Association (WIAA) or the Automobile Association of India (AAI). Furthermore, you can install anti-theft devices on your car as this is taken into consideration when the insurance company fixes the premium for the vehicle.
Typically, the Comprehensive car insurance for your Kia will include coverage towards losses or damages to the third party life or property as well as to the insured Kia car. The premium under the Comprehensive car insurance is calculated based on the model of the car, year of manufacture, the type of variant, any voluntary deductibles, discounts (if any), the number of Add-on covers and No Claim Bonus (if applicable).
Add-on covers can be bought if you want to insure your car with the Comprehensive insurance. They provide extra coverage, which the basic policy does not cover such as engine damages, depreciation cover, etc. You can choose from a various car insurance add-on covers mentioned-above which suits your requirement since these cater to a specific need.
When the car insurance policy has lapsed or expired, then the insurance provider will send a surveyor to inspect and assess your vehicle for any possible damages after the policy expired as they will not be covered. It is important to renew the policy with its due date to avoid penalties and avoid financial burden in case of an accident to the insured vehicle. Insurance companies usually provide 30 days of grace period when you need to renew the policy. However, during the grace period, the policy is not active. You can still renew the policy after the grace period, but you may have to pay the required charges as prescribed by the insurer.
Yes, you can switch to a new insurance company while renewing the policy. Visit the new insurer’s website or mobile app, provide the details of your vehicle such as registration number, year of manufacture, the variant, location of the vehicle and the details of the existing policy. Upon providing the details, the new insurance will provide a quote for the same. If you are able to get wide coverage at a competitive price, then you should switch to the new insurance company after performing a background check of the insurer.
Typically, the car dealer will assist you in getting the car insurance for your Kia; however, this is not mandatory and you can buy the car insurance yourself. You can approach digital insurers who are offering a wide range of coverage at a lower premium with a hassle-free experience.
Below is the car insurance for Kia models in India: