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Discontinued Hyundai Car Variants And Their Impact On Insurance

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Published on June 30, 2023. EST READ TIME: 3 minutes

Hyundai is a leading automobile brand based in Seoul, South Korea. Hyundai has a worldwide dealership network in over 190 countries. Hyundai has a significant market share in countries such as the United States, China, and India. Hyundai has recently decided to stop the manufacturing of its 11 variants. This decision has shocked the customers owning those variants about the importance of their Hyundai car insurance. This article will delve into the 11 variants and explore  Hyundai car insurance , which includes third party car insurance and zero depreciation car insurance.

11 Hyundai Discontinued Car Variants

Hyundai, known for its diverse range of vehicles, from affordable cars to SUVs and Sedans, discontinues 11 variants. All car manufacturers, including Hyundai, often review their cars and update them to meet the market's demands and technological evolution. It leads to discontinuing specific car variants that perform poorly in sales or meet the latest technological requirements. Here is a table containing the details of the 11 Hyundai discontinued cars.

Variants discontinued in the i20 model

Sr. No.	Car Model	Fuel Type	Discontinued From	Last Recorded Price (in Rupees)
1	I20 Asta (O) 1.5 CRDi MT	Diesel	Jan 2023	₹10.84 L
2	Magna 1.5 CRDi MT	Diesel	Jan 2023	₹8.43 L
3	Sprotz 1.5 CRDi MT	Diesel	Jan 2023	₹9.28 L
4	I20 Sprotz 1.0 Turbo GDi MT	Petrol	Sales till stocks last	₹8.88 L

Variants discontinued in the Verna model

 

Sr. No.	Car Variant	Fuel Type	Discontinued From	Last Recorded Price
1	1.0 Turbo GDI DCT SX (O)	Petrol	Jan 2023	₹13.03 L
2	1.5 CRDi MT S+	Diesel	Feb 2023	₹10.46 L
3	1.5 CRDi MT SX	Diesel	Feb 2023	₹12.19 L
4	1.5 MPI MT S+	Petrol	Feb 2023	₹12.98 L
5	1.5 MPI MT SX	Petrol	Feb 2023	₹14.81 L

Variants discontinued in the Creta model

Sr. No.	Car Variant	Fuel Type	Discontinued From	Last Recorded Price
1	1.4 Turbo GDI DCT S	Petrol	Jan 2023	₹15.79 L
2	1.5 iMT S	Petrol	Jan 2023	Not available

These are the car variants that have been discontinued by Hyundai in 2023. There might be various reasons for Hyundai to discontinue these variants, but it is to be noted that discontinuing a car variant will impact Hyundai car insurance.

Hyundai Car Insurance by HDFC ERGO

HDFC ERGO, a General Insurance Company, Limited, is a leading insurance provider in India. It is also one of the leading Hyundai car insurance providers. HDFC ERGO is also a trustable provider of third party car insurance and zero depreciation car insurance. Let's delve into how the discontinuation of cars by Hyundai affects Hyundai car insurance and the popular types of Hyundai car insurance provided by HDFC ERGO.

Hyundai Discontinued Cars And How It Affects Hyundai Car Insurance Provided By HDFC ERGO.

Regarding HDFC ERGO, discontinuing a car model will impact the availability and cost of Hyundai car insurance coverage.

Availability of Insurance Coverage:

HDFC ERGO will analyze the risk of providing insurance for Hyundai discontinued cars. HDFC ERGO will assess several factors, such as the availability of spare parts, repair costs, and market demand to decide on how to cover the specific Hyundai discontinued car. It will result in continuing the ongoing Hyundai car insurance coverage, modifying it, or even halting the insurance coverage for the specific car variant.

Premium Rates:

With Hyundai discontinuing its 11 car variants, the Hyundai discontinued cars might change the premium rates for insurance coverage offered by HDFC ERGO. Higher premium rates may be charged for difficulties obtaining spare parts or increased repair costs, as the factors would increase the overall Hyundai Car insurance cost.

Hyundai Car Insurance Options by HDFC ERGO

HDFC ERGO modifies the coverage options for Hyundai discontinued cars. 

This segment will focus on the two major insurance coverage options HDFC ERGO provides.

Third Party Car Insurance 

Third party car insurance  provided by HDFC ERGO covers damages or injuries caused to third parties in case of an accident that involves a Hyundai car with insurance coverage. It is mandatory to have this insurance coverage according to the Motor Vehicles Act in India. Any damages to the discontinued Hyundai car variant will not be covered under third party car insurance coverage. Only damages or injuries to the third party will be covered under the third party car insurance coverage provided by HDFC ERGO. Hyundai car owners need to update their insurance policies regularly. Suppose the manufacturer has discontinued the car variant they own. In that case, the car owners must consult with the HDFC ERGO for any changes in the Hyundai car insurance policy, third party car insurance, premium rates, zero depreciation car insurance, and other policies. Even though discontinuing a car variant will not impact third party car insurance, it could change other coverage options or premium rates. It is better to consult HDFC ERGO and ensure adequate protection for any changes.

Zero Depreciation Car Insurance:

Zero Depreciation Car Insurance  is also known as bumper-to-bumper car insurance. It is a popular add-on insurance policy provided by HDFC ERGO. The zero depreciation car insurance policy covers the total value of repairs or replacement of car parts without depreciation. Most car owners choose this coverage as it protects and reduces the expense in case of damage and repair to the insured car.

However, if the owner already possesses an insured Hyundai car that has been recently discontinued, it will impact zero depreciation car insurance for that particular model provided by HDFC ERGO. The changes could impact the coverage, deductibles, or premium rates for Hyundai car owners who have chosen zero depreciation car insurance. Therefore, HDFC ERGO will no longer add this add-on coverage for Hyundai discontinued cars and will also revise its premium rates.

Visit the link given below for more information: https://www.hdfcergo.com/car-insurance#section_key

Conclusion

In conclusion, Hyundai has discontinued 11 car variants recently, impacting its car owners and the Hyundai car insurance providers like HDFC ERGO. Due to this action from Hyundai, HDFC ERGO will have to change the Hyundai car insurance policies, majorly on coverages like third party car insurance coverage and zero depreciation car insurance coverage. Car owners should stay updated and consult with HDFC ERGO for any changes in the insurance policies. For more information on car insurance, visit HDFC ERGO.

Disclaimer : The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales

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