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Hyundai Car Insurance Australia – Australia’s first car manufacturer to offer a five-year warranty has finally increased the cover to seven years, but only on certain models for a limited time.
Hyundai has introduced a seven-year warranty on most of its model range – up from the first five-year warranty introduced 20 years ago.
Hyundai Car Insurance Australia
However, according to a confidential dealer newsletter obtained by CarAdvice, the factory extended warranty only applies to certain Hyundai vehicles ordered and delivered between early October and late December 2019 “without exception”.
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“This is a retail offer, available for a limited time. This is not a permanent condition for the sale of Hyundai,” the statement said.
It also adds some exceptions: “The seven-year warranty does not apply to corporate, government or rental … or to cars not used by (exhibitors).”
Private car buyers get a seven-year/unlimited kilometer warranty, while all Hyundai iLoad commercial vehicles and vans come with a seven-year/175,000km warranty.
Also in detail: If a customer orders a new Hyundai between now and December 31, 2019 – but the vehicle isn’t delivered until 2020 – the seven-year warranty offer won’t apply.
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Customers who purchase vehicles on new leases using the corporate discount also do not receive the seven-year warranty.
“Sometimes corporate sales refer to retail customers through new leases. Do they have a seven year warranty? No, not every off (retail) sale gets a seven-year warranty,” says Hyundai’s newsletter.
“Dealers should make it clear to customers that they can choose between a seven-year warranty or a national fleet discount without a retail offer.”
The seven-year warranty is in addition to the current offer on most models in the range, including the Hyundai i30 hatch and Elantra sedan, as well as the Kona, Tucson and Santa Fe SUVs. The iLoad van gets a seven-year warranty, but lacks the mechanically similar iMax sedan.
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According to the dealer’s newsletter, the Veloster sports car and Venue City SUV are not included, but a Hyundai Australia representative contacted CarAdvice to confirm that the two vehicles are part of the extended warranty offer.
However, as previously announced, the Ionic model and the Konanota electric version are included in the seven-year warranty campaign.
It is not clear whether Hyundai will introduce a seven-year warranty until the new year. While it’s billed as a “limited time offer” with a deadline of December 31, 2019 (a screenshot of Hyundai’s homepage is shown below), the trick is often to get people to sign up before it’s too late.
For example, Volkswagen late last year introduced a five-year warranty that expires on 31 December 2018 – but launched it as a permanent offer from 1 January 2019.
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Since Hyundai temporarily switched to a seven-year warranty, three brands in the top 10 now offer warranties longer than five years. The other two are Kia (in the entire range) and Mitsubishi (in the Triton ute).
Hyundai was the first brand in Australia to offer a five-year range-wide warranty, introducing extended coverage in 1999.
The list of car companies moving to five-year warranties in 2018 includes Volkswagen (December), Mazda (August), Holden (July), Ford (May).
While Subaru and Toyota followed suit with a five-year warranty in January 2019, Nissan rounded out the top 10 by adopting a five-year warranty in April 2019, coinciding with the start of the Japanese fiscal year.
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As part of its relaunch, new Korean carmaker Ssangyong increased its warranty from five years to seven in September 2018, matching Kia’s industry-leading seven-year coverage introduced in October 2014.
Citroen accepted a six-year warranty in July 2014, but that cover was reverted to three years in November 2017 following a change of dealership in Australia.
However, following a backlash, importer Citroen and its sister brand Peugeot increased the warranty from three years to five years/unlimited kilometers for all models except the van (which has five years/200,000km coverage) from February 2018.
Honda introduced a five-year warranty in July 2017 and has a monthly sales campaign offering a seven-year warranty on select models.
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Isuzu introduced a five-year/130,000km warranty on its D-Max ute in January 2013, and the MU-X SUV received the same cover when it was launched in November 2013.
Since April 2011, Renault has a five-year warranty on passenger cars – but not on sports models or vans.
In August 2018, Hyundai Australia executives told the media that the company was considering increasing warranty coverage from five years, in response to a marketing advantage being eroded by other brands.
In December 2018, Mitsubishi added a seven-year/150,000km warranty to the Triton ute as a special offer (up from five years/unlimited kilometres), but this has been extended until the end of 2019.
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As of the publication of this article, Kia remains the only brand in the top 10 with a seven-year warranty remaining in its range.
Joshua Dowling has been a motoring journalist for over 20 years, most of that time working for The Sydney Morning Herald (as motoring editor and a founding team member) and News Corp Australia. He joined CarAdvice in 2018 and has been a World Car of the Year judge for over 10 years.
New car sales in Australia in October 2024: Toyota RAV4 leads again, but shrinking market threatens annual growth. Electric vehicles (EVs) are on the rise in Australia, thanks to better technology, greener options and rising petrol prices. To explore alternatives.
While buying insurance can still seem like a big step due to their cost and the car insurance that comes with it, understanding how electric car insurance works can make a big difference. Here’s a quick guide on what you need to know about insuring your electric ride.
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Basically, EV insurance isn’t that different from the traditional car insurance we’re all used to. It offers the same protection against the usual suspects: accident, theft and damage. However, it is very clear that electric vehicles have unique needs. For example, with an electric vehicle you can cover the possibility of damage to the high-voltage electrical system, such as damage to the charging infrastructure, which does not happen with conventional gasoline cars.
Despite these differences, insurers are in no rush to reinvent the wheel. Instead, just amend their existing policy to protect electric vehicles. This means that most electric vehicle owners are sold a standard car insurance policy with some modifications specific to electric vehicles.
In fact, we don’t see a significant change in the market until 2024. When insurance disrupts KOBA launches Australia’s first car insurance policy designed specifically for electric vehicle owners.
So while electric vehicle insurance is very similar to traditional car insurance—a standard policy still fits—it’s clear that the unique nature of electric vehicles is beginning to be recognized. This means we could see more innovation in electric vehicle insurance as time goes on.
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Given the limited number of EV-specific policies currently available, you may wonder if standard car insurance will adequately cover electric vehicles. Generally, the answer is yes; Whether you drive to work on gas or electricity, car insurance is designed to protect against major issues like accidents, theft and damage.
But since the EV is a little different under the hood, here are a few things you should double-check:
While standard car insurance covers a lot, a quick review of these things will help you ensure that your electric vehicle is properly covered. The world of electric vehicles is still relatively new to some insurance companies, so it doesn’t hurt to ask a few questions and sort things out.
In general, an EV is more expensive to insure, all things being equal. The reason for this is not just the vehicle, but a combination of factors related to the market and the way insurers assess risk.
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As the supply chain for electric vehicle parts and models matures, insurance prices are likely to fall over the long term. But for now, electric car owners typically face higher premiums.
If you’re looking for more inspiration on how to keep your car costs down, check out our full guide to cheap car insurance.
Ultimately, the best car for a person depends on their needs, budget and circumstances. However, in addition to the environmental benefits, owning an electric vehicle brings significant cost benefits.
According to the Electric Vehicle Council (EVC), the average gasoline car costs about $14 per 100 km, while the average electric vehicle costs only $4 per 100 km. That’s almost a 75% difference in price!
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Customers who have installed solar panels on their homes can get free charging costs if they charge during the day. Free charging stations in some stores also make your journey easier.
Meanwhile, the simplicity of an EV engine compared to an internal combustion engine (20 parts versus more than 2,000) means that repairs are less likely and easier to implement in practice, even if the parts take a while to get here.
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