Magma Car Insurance

About Magma HDI General Insurance

Magma HDI is a general insurance company established in 2009 as a joint venture between Magma Fincorp Limited and HDI-Gerling Industrie Versicherung AG. The company operates in India with more than 135 branches and 5 zonal offices. It aims to fulfil the needs and requirements of the stakeholders of the company and aspire to provide all the services required and demanded by the consumers.

The company directs its focus to both rural and urban areas and comes up with products for rural and semi-urban populations. Consumers can get the answers to their queries and can gain access to essential information via the responsive Customer Service and support helplines of Magma HDI. It is a trustworthy insurance company with a track record of providing hassle-free claim settlements. The insurance company is not limited by the boundaries of urban geographical locations as it continues to expand its geographical reach.

Magma HDI Car Insurance

Magma HDI offers a complete portfolio of insurance products that are required by a majority of individuals and corporates. It sells two types of car insurance policies namely third party liability car insurance policies and comprehensive car insurance policies. The intent of offering third party policy is to protect its policyholders against any financial liability towards third parties, arising out of an accident with the involvement of your car, leading to any bodily injury or death of a person and any damage caused to the third-party property, whereas, the comprehensive plan offers cover against any damage to or loss sustained by your car due to an accident, mishap or any calamity.

The general insurance company also offers a wide range of add-on covers like depreciation reimbursement cover, return to invoice cover, engine cover, key cover, roadside assistance cover, and so on, which can be purchased at an extra premium along with comprehensive car insurance policies. In addition to this, it also offers a personal accident cover for individual owners while driving, however, it is available only if the owner holds a valid driving licence. The insurer renders affordable car insurance products and an easy and hassle-free claim settlement process with some discount deals like anti-theft devices, AAI membership, no claim bonus and so on.

Significant Points of Magma HDI Car Insurance

Features

Coverage

Founding Year.                             2009

Network Garages.                       4000

Claim Settlement Ratio.              97.10%

Third Party Property Damag.  Up to Rs. 7.5 Lakh

Own Damage Cover.   Coverage for Own Car for Its Loss and Damage

Personal Accident Cover.  Up to Rs. 15 Lakh for Owner-Driver

Add-on Covers.      8 Add-on Covers

Claim Assistance.     24/7 Claim Assistance

Magma HDI Car Insurance Benefits

Compensation for bodily injury of a third party travelling in a vehicle or walking on the road

Unlimited liability cover in case of death of third party

Optional personal accident cover of up to Rs 15 lakh for the policyholder

Policy cover for damages/theft of the insured vehicle

No Claim Bonus (NCB) discount of up to 50% for claim-free years

Discount on installing ARAI-approved anti-theft devices and also on being a member of the Automobile Association

Online renewal process and easy claim initiation

Cashless claim services in over 4,000 authorised workshops.

Availability of a range of add-on covers such as Zero Depreciation, Engine Cover, etc.

Round the clock 24*7 customer support from the toll-free helpline

Instant grievance redressal

Online service to locate the nearest cashless garage