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Methods to purchase the Volkswagen Golf GTI car insurance in India

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Volkswagen Golf GTI Car Insurance Guide

The Volkswagen Golf GTI is a unique hatchback vehicle, especially noted for its exquisite performance. It is a petrol-driven car with a smart dual-clutch auto transmission facility. This vehicle is currently available in 4 colours and a single variant with a fuel tank capacity of 45 litres. Equipped with entirely LED headlamps with LED Daytime Running Lamps r DRLs.

When it comes to safety and security, the Volkswagen Golf GTI remains equipped with ABS, Hill Start Assist, camera-installed reverse parking sensors, airbags for both the driver and passenger, etc.

Volkswagen Golf GTI: Key specifications

Before you plan on purchasing such an elite vehicle, it is best that you have a clear knowledge and understanding of the basic mechanisms of the vehicle. The key specifications of Volkswagen GTI include the following:

• Average mileage: 16.34 km/ltr.
• Transmission: Automatic
• Fuel type: Petrol
• Power: 189.3 BHP
• Engine: 1798 cc
• Seating capacity: 5-seater
• Torque: 250Nm
• Ex-showroom price: Begins from INR 20.69 lakhs onwards

The insurance requirements of the Volkswagen Golf GTI:

Every single vehicle owner must maintain an active third-party car insurance policy. Car insurance in India is not only a security measure but also used to meet the legal standards. The third-party plan is the basic minimum requirement.

However, this is a simple liability cover, targeted to offer compensation only for damages and losses faced by the third party during any accidental circumstance involving your vehicle.

Driving any vehicle without a third-party policy is a punishable legal offence in India as per the existing Motor Vehicles regulations. Lack of insurance can attract a penalty of INR 2000 or might even land you in jail for a maximum of 3 months.

However, considering the luxuriousness of the Volkswagen Golf GTI, we can say that a simple third-party plan is not sufficient. You must invest in an elaborate, comprehensive coverage protection policy to ensure optimum security. GTI car insurance, India has to be special.

While dealing with car insurance plans, you must be aware of the types of car policies available in the market, along with their individual characteristics.

Third-party policy: As mentioned before, this is the basic liability coverage insurance policy, not meant to protect your vehicle. It is exclusively designed to meet the third-party losses and damages caused by your vehicle due to any accidental circumstances. Usually, the property damage coverage is limited to INR 7.5 lakhs under this plan. Having this plan is mandatory for every vehicle owner to meet the legal standards.

Own damage cover: As the name suggests, this specific plan has been carefully designed only to meet the damages and losses caused to your insured vehicle. The circumstances may vary, like fire, theft, accident, or damage due to natural/manmade disasters, as per the terms and provisions of the chosen plan.

Pro tip: Even if you maintain this kind of plan, you have to separately purchase a third-party policy to abide by the legal norms.

Comprehensive policy: This is the most elaborate form of car insurance that competently takes care of both first and third-party losses and damages. You can even expand the basic policy coverage with the help of befitting riders by paying an additional premium for each rider chosen.

Pro tip: When Volkswagen Golf GTI insurance is concerned, a comprehensive plan is the best choice despite its high cost when compared to other types of policies, since it allows complete holistic coverage for your beloved four-wheeler.

Best add-ons

With a comprehensive plan, you can easily expand the coverage span of the basic plan with suitable add-ons or riders. However, you need to pay additional premiums for every rider you choose. Therefore, you need to be very critical while making your choice, as it runs the risk of adding unnecessary riders, eventually leading to undesirable financial drainage.

Some of the popular add-ons that you might consider while opting for your Volkswagen Golf GTI insurance include the following:

• Pay-as-you-drive insurance: Also known as performance car insurance, here you need to pay your premium based on your usage, i.e., the number of kilometres. This is a perfect suit if you use your vehicle occasionally. The policy span is for 1 year and can be customised up to a certain extent as per the chosen plan provisions.

• Zero depreciation: With this add-on, your chosen insurer will settle the concerned claim amount without considering the depreciation value. This enhances the overall claim amount. However, the benefit can only be availed up to pre-defined limited times as per the terms’ regulations.

• No Claim Bonus: This is a special reward offered by the concerned insurer for not raising any claim during the plan tenure. The bonus keeps accumulating with each claim-free year and ranges between 20% and 50%. The overall accrued percentage of NCB earned earns you a commendable discount on the overall premium payable amount during plan renewal.

Note: If you raise any claim during this span, or you fail to maintain the plan and it lapses, then the entire NCB accumulated so far will automatically become null and void.

• Engine Protection Cover: This is a special add-on allowing you coverage for the damages incurred by the vehicle engine due to oil leakage or issues with gearbox or water ingression, engine failure, etc.

Note: You must note that this add-on is only applicable with a comprehensive policy or a standalone damage cover plan.

• Loss of personal belongings: As the name suggests, this covers the losses incurred due to damage, loss or theft of personal belongings present in the concerned insured vehicle. You can easily add this rider to your base plan by paying a nominal additional premium.

• Roadside Assistance cover: This add-on to your insurance allows prompt on-ground assistance if your insured vehicle faces any trouble or breaks down in between. Usually, this sort of coverage allows services like jump-starting the vehicle, handling tyre puncture issues, etc.

Premium estimation

The car insurance premium payable amount is often dependent on several associated factors. Every insurance company considers all these factors to assess the amount of risk and liability associated and then determine the premium value.

Some of the most significant factors that affect a comprehensive car policy premium include:

• Driving record: A comparatively safe and clean driving record usually attracts comparatively lower premiums.

• Age and experience: Younger drivers with less experience might attract comparatively higher premiums than older and experienced drivers.

• Vehicle type: The model, make, and manufacturing year of the concerned vehicle may impact the premium value. The more luxurious your vehicle is, the costlier your premium payable amount. Moreover, newer and high-performance vehicles also attract high premiums.

• Coverage options: The amount and type of coverage chosen, like collision, liability, comprehensive, etc., also affect the premium.

• Location: Based on the geographical location, the premium amount may vary. The premiums tend to rise in metro cities than in smaller towns.

• Deductible: The amount that you voluntarily agree to pay out of your pocket during any claim settlement also affects the premium value. The higher the deductible, the lower the premium and vice versa.

• Credit score: Certain insurers also consider your credit score. The lower the score, the higher the premiums.

• IDV: IDV or the Insured Declared Value, reflects the current market value and affects the premium.

• Add-ons: The greater the number of add-ons, the higher the premium. You have to pay additional premiums for every individual add-on you choose.

Conclusion

Choosing the right insurance plan for your Volkswagen Golf GTI must be a commendable combination of peace of mind and cost-effectiveness. Irrespective of the circumstances, you must be aware of all the terms and conditions of your chosen plan.

Regular maintenance of the vehicle with safe and clean driving habits will help you go a long way. Ensure to choose a comprehensive car insurance policy for your vehicle for complete protection.

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

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• Why Volkswagen Cars are India's Safe Choice

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