Hyundai IONIQ 5 Car Insurance

How to Buy

• Step 1: To buy online insurance for a car, go to the top of the page or open the mobile app to view your options.
• Step 2: Provide the Hyundai IONIQ 5 registration number and other personal details to get estimated car insurance quotes.
• Step 3: Select a suitable car insurance plan, set an IDV and choose add-ons based on your vehicle and usage.
• Step 4: Review your policy coverage and then pay the car insurance price using your preferred payment mode.
• Step 5: Upon successful payment, you will get your car insurance policy document at your registered email address.

Important Tip: You don't have to buy Hyundai IONIQ 5 insurance from a dealer. You can buy your car insurance online within minutes from TATA AIG.

How to Renew

• Step 1: Begin your car insurance online renewal by selecting ‘Renew your TATA AIG car policy’ at the top of this page. You can also renew through the TATA AIG mobile app.
• Step 2: Enter your Hyundai IONIQ 5 registration number or existing policy number to access your policy details.
• Step 3: Check the renewal premium and the no claim bonus (NCB) applicable to your policy.
• Step 4: Review your coverage and select any add-ons you may need for your Hyundai IONIQ 5.
• Step 5: Pay the Hyundai IONIQ 5 insurance renewal price online to complete the process and continue your insurance coverage.

Important Tip: If your Hyundai car insurance policy has expired, you may need to undergo an inspection. Also, if you are buying a used car, you may need an inspection.

Purchase a customised Hyundai IONIQ 5 car insurance plan in a few simple steps with TATA AIG

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How to Buy

As every Accent is a used car, TATA AIG may ask for a vehicle inspection before issuing cover. We will let you know if this applies to you.

• Step 1: Go to the top of this page or open our mobile app.
• Step 2: Type in your car registration number and select Get Price.
• Step 3: Enter the car and owner details we request.
• Step 4: Pick a plan and review the Hyundai Accent insurance premium.
• Step 5: Complete payment and receive your policy immediately.

Important Tip!

Buying Accent auto insurance online straight from TATA AIG cuts out agent commission and keeps your premium low.

How to Renew

• Step 1: Click the renewal button at the top of this page or use our mobile app.
• Step 2: Type in your registration number or policy number.
• Step 3: Review the online car insurance policy renewal price.
• Step 4: Add or upgrade your policy cover if needed.
• Step 5: Pay and download your renewed policy.

Please Note:

You get a 90-day grace period for car insurance renewal after it expires. A lapsed policy may need an inspection before renewal.

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Third-Party Coverage is a Legal Requirement

Third-party motor insurance is mandatory for driving the Hyundai IONIQ 5 on Indian roads. Driving without insurance can attract a fine of up to ₹2,000 for a first offence and ₹4,000 for subsequent offences, along with possible imprisonment.

Furthermore, if your Hyundai IONIQ 5 causes injury or damage to a pedestrian or another vehicle, you may have to bear the compensation yourself if you do not have valid third-party cover.

Repair Bills Scale With What's in the Car

The Hyundai IONIQ 5 comes with advanced technology, including ADAS features, cameras, sensors, LED lighting and a panoramic sunroof. Damage to these components can make even a seemingly minor accident more expensive to repair.

Furthermore, its high-voltage battery and electric powertrain also make the repair assessment different from that of a conventional petrol or diesel car. With Hyundai IONIQ 5 car insurance with relevant EV add-ons, you can reduce the repair expenses.

Access to Hyundai Authorised Workshops in the Network

For a technology-heavy premium EV like the IONIQ 5, access to an authorised Hyundai workshop can be important when repairs involve its electric powertrain, battery systems, ADAS or other specialised components.

TATA AIG's network includes authorised Hyundai service centres, allowing IONIQ 5 owners to access cashless repair facilities at network garages. We also offer doorstep pick-up and drop-off services for cashless repairs.

Covers Fire, and Natural & Man-Made Disasters

Flood, storms, fire, and other natural or man-made events can also cause damage to the Hyundai IONIQ 5 body, electrical systems or high-voltage components. For a high-value EV like the IONIQ 5, such damage can result in substantial repair expenses.

A Hyundai IONIQ insurance policy will protect you against losses arising from these events, subject to the policy terms and exclusions.

Covers Theft & Total Loss

With a price of around ₹55.70 lakh, the Hyundai IONIQ 5 is a premium, high-value vehicle that may be more attractive to thieves. This makes theft or total loss a significant financial setback for the owner. TATA AIG Hyundai IONIQ car insurance covers eligible theft and total-loss claims up to the applicable IDV .

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8+ Add-Ons Covers

With Pre-Set bundles & EV-specific add-ons

Quick Roadside Support

Within 60 minutes in cities!

Pick-up & Drop-off Service

For Doorstep Cashless Repairs

24/7 Customer Support

Call-back within 2-3 minutes & regional language support

Car Insurance Policies We Offer

Comprehensive Car Insurance

For premium electric vehicles like the Hyundai IONIQ 5, comprehensive car insurance is a suitable choice as it offers broader protection. It protects the vehicle not only from third-party liabilities but also from own damage due to accidents, fire, theft, and other man-made and natural disasters. It also comes with EV-specific add-ons to enhance vehicle protection.

Buy Comprehensive Car Insurance

Third Party Car Insurance

Vehicle owners looking for an affordable car insurance plan can go with a mandatory third-party car insurance plan . This plan will cover your legal liabilities if the Hyundai IONIQ 5 causes damage to a third party person or property.

Buy Third-party Car Insurance

Own Damage Car Insurance

This car insurance plan works well if you have a third-party car insurance plan. It protects your Hyundai IONIQ 5 against damage from accidents, fire, theft, and other covered natural and man-made disasters.

Buy Own-Damage Car Insurance

Does Your Variant Change Your Insurance Choice?

Yes, the Hyundai IONIQ 5 comes with features such as ADAS, cameras, parking sensors and a panoramic sunroof, which can increase repair costs if damaged. While the basic insurance requirement remains the same, your IDV and add-on selection should match your specific variant and its features. This becomes particularly relevant for a high-value vehicle like the IONIQ 5.

What Policy Do I Buy?

For a premium electric vehicle like the Hyundai IONIQ 5, you can use the add-ons mentioned below for enhanced vehicle protection.

Electric Surge Secure

With this add-on, your Hyundai IONIQ 5 gets additional protection against specified electrical damage, including short circuits, arcing, electricity leakage, self-heating and water ingress. It also extends to the car's charging equipment and is available for EVs up to 5 years old.

Depreciation Reimbursement

The Hyundai IONIQ 5 is a high-value vehicle, so even a minor accident can involve expensive replacement parts. With the zero depreciation add-on, you can cover the depreciation deducted on eligible parts during an own-damage claim.

Key Replacement

The Hyundai IONIQ 5 comes with a smart key, making this add-on useful if the key is lost, stolen or damaged. The key replacement add-on can cover eligible key and lock replacement costs, including labour charges, subject to the policy terms and required documentation.

Depreciation Allowance- Battery

If your Hyundai IONIQ 5's battery needs replacement, this add-on covers the depreciation deducted from the battery's replacement cost under an approved claim. It is available for cars up to 5 years old.

Roadside Assistance

If you regularly use your Hyundai IONIQ 5 for long commutes, highway travel or road trips, Roadside Assistance can help if the car becomes immobile due to a breakdown or accident. Services can include towing, flat-tyre assistance, jump-starting and minor on-the-spot repairs, subject to the policy terms and applicable conditions.

Disclaimer: Add-ons are subject to specific eligibility criteria and terms and conditions. Please check whether the add-on applies to your car before purchasing car insurance.

Hyundai IONIQ car insurance cost depends on two components: third-party and own-damage premium. IRDAI sets the third-party premium based on your EV's battery capacity, while the own-damage premium depends on factors related to your vehicle and policy choices.

The Fixed Part: Third-party Premium

Third-party premium for private electric cars is based on battery capacity in kWh, not the vehicle's price or motor output. The Hyundai IONIQ 5 has an 84 kWh battery, placing it in the above 65 kWh category.

The Variable Part: Own-damage Premium

Hyundai IONIQ 5 own-damage insurance component depends on several factors such as:

What You Can Do

• Don't lower the IONIQ 5's IDV just to reduce the premium. A lower IDV can also mean a lower payout in case of theft or total loss.
• Another tip is to check the insurance for cars with and without optional add-ons to balance useful protection with premium cost.
• If you have an eligible No Claim Bonus, use it when renewing to reduce your own-damage premium.

Insured declared value is the maximum amount you will receive if your Hyundai IONIQ 5 is stolen or declared a total loss. Since the IONIQ 5 is a premium EV priced at around ₹55.70 Lakh, choosing an adequate IDV that reflects its current value is particularly important.

The Trade Off

What's Different on an EV

For the Hyundai IONIQ 5, a significant part of the vehicle's value is tied to its high-voltage battery and electric systems. Damage to these components after an accident can, therefore, significantly affect the overall repair assessment.

The IONIQ 5's high-voltage battery is covered by Hyundai's warranty for 8 years or 1,60,000 km, whichever comes first, but the warranty excludes damage resulting from accidents, theft, flooding and fire. This is where IDV matters. Battery or EV-system damage arising from an insured event is an insurance matter, while normal battery degradation is a warranty matter.

So, don't rely on the battery warranty as a substitute for choosing an appropriate IDV. For a total or constructive total loss, the applicable payout is linked to the vehicle's IDV, subject to the policy terms.

What IDV to set on a Hyundai IONIQ 5

The Hyundai IONIQ 5 is a premium EV priced at around ₹55.70 Lakh, so its IDV should reasonably reflect its current value after applicable depreciation. Avoid choosing a lower figure simply to reduce the premium, as it can reduce the payout in case of theft or total loss.

If you finance the IONIQ 5, check the IDV against your outstanding loan. You can also opt for return-to-invoice cover for a newly purchased car, as it can bridge the gap between a vehicle's insured value and its on-road price.

The Mistake to Avoid

Avoid choosing the very low IDV simply to reduce your premium. If your IONIQ 5 is stolen or suffers a total loss, a lower IDV means a lower maximum payout. With TATA AIG’s Hyundai IONIQ 5 insurance, the IDV selected when you purchase your policy is not negotiated at the time of a claim. This gives you greater clarity and certainty about the coverage amount applicable in the event of total loss or theft.

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What’s Covered

What’s Not Covered

• Normal Wear and Tear: Routine servicing, maintenance, depreciation, ageing and normal wear and tear of IONIQ 5 are excluded.
• Electrical or Mechanical Breakdown: Any damage and loss to the IONIQ 5 due to mechanical, electrical or component failures are not covered unless it is from an insured event.
• Violation of Law: Damage and loss to Hyundai IONIQ 5 due to illegal activities or violation of traffic laws are not covered.
• Undeclared Accessories and Modifications: Excludes coverage for any undeclared accessories at the time of buying the plan.
• Loss or Damage Outside India: Loss or damage to IONIQ 5 outside the geographical limits is not covered under the plan.
• War or War-like Events: Loss or damage to vehicles due to war, invasion, mutiny, rebellion or similar events is excluded.
• Consequential Loss: Any further damage to Hyundai IONIQ 5 after an accident due to its usage is not covered.

Cashless Claims

• Raise the Claim: Report the damage to TATA AIG by calling 022-6489-8282, emailing general.claims@tataaig.com, visiting a branch, or using WhatsApp at 9136160375. You can also submit the claim through the online claim portal or mobile app.
• Get Cashless Repairs: Choose a TATA AIG network garage for your Hyundai IONIQ 5. With 6,300+ garages across India, you can access cashless repair services, with pick-up and drop-off available at select locations.
• Allow Damage Assessment: A surveyor will inspect your IONIQ 5 and evaluate the extent of the damage. Wait for the inspection before authorising repairs.
• Authorise the Repairs: Once the damage assessment is complete, the garage will proceed with the approved repairs. Any additional damage found during the process may require a revised estimate and TATA AIG approval.
• Pay Your Share: After the repairs are completed, TATA AIG will settle the eligible amount with the network garage. You will need to pay applicable deductibles, depreciation, and other costs not covered by your policy.

Reimbursement Claims

• Register the Claim: Report the damage to your Hyundai IONIQ 5 by calling 022-6489-8282, emailing general.claims@tataaig.com, WhatsApp at 9136160375, or visiting a TATA AIG branch. You can also raise a claim through the TATA AIG mobile app or online claim portal.
• Complete the Inspection: TATA AIG will arrange a digital or physical assessment to determine the extent of damage. Wait for the inspection before proceeding with repairs.
• Repair the Vehicle: Once the assessment is completed, get your Hyundai IONIQ 5 repaired at a garage of your choice. Pay the repair costs and retain the original invoices and payment receipts.
• Submit the Documents: Share the required claim documents, repair bills and receipts with TATA AIG for verification and assessment.
• Receive the Reimbursement: After reviewing the submitted documents, TATA AIG will settle the approved claim amount through NEFT, subject to the terms, conditions and applicable deductions of your policy.

Note: For EV-specific claims, damage to the IONIQ 5's battery or charging system may require a different assessment from conventional body damage.

• Duly completed and signed claim form.
• Copy of your Hyundai IONIQ 5 insurance policy schedule or certificate.
• Valid driving licence and Hyundai IONIQ 5 registration certificate.
• Valid identity proof, such as Aadhaar Card, PAN Card or Voter ID.
• Repair estimate from an authorised Hyundai service centre or network garage.
• Clear photographs or videos showing the damage to your Hyundai IONIQ 5.
• Original repair bills and invoices for reimbursement claims.
• Medical records or third-party bills, where the claim involves injuries.
• FIR or police report in case of theft or a major accident.
• All original keys of the Hyundai IONIQ 5 for theft-related claims.
• Financier's NOC, where applicable, for theft or total-loss claims when the vehicle has an active loan.
• No Trace Report if the stolen Hyundai IONIQ 5 remains unrecovered.
• RTO Forms 28, 29 and 30, wherever required for eligible theft or total-loss claims.
• Court summons or legal notices for claims involving third-party legal proceedings.

Note: The documents required may differ depending on the type and circumstances of the Hyundai IONIQ 5 insurance claim. TATA AIG may request additional documents during claim assessment or verification, if necessary.