Magma HDI Car Insurance

Magma HDI is an entity of Rising Gun Group viz Sanoti Properties LLP, which holds a major share in the company. Other shareholders are HDI Global SE, Celica Developers Private Limited and Jaguar Advisory Services Private Limited. The company has a range of products to secure all risks within the general insurance circle. The company has its presence across 22 cities within India. 

Magma HDI has come up with a unique package car insurance policy which protects your cars from unexpected and unanticipated liabilities such as accident, theft, and burglary. The company offers Package policy for cars at an affordable rate.

Types of Magma HDI Car Insurance Policies

Motor Act only Policy

As the name suggests, this is a party that satisfies the motor vehicles act which says every vehicle plying on the road must be insured with at least a third party liability. This policy does not cover damages to own vehicle

Magma Private Car Insurance Package Policy

Magma Private Car insurance package policy covers damages to your own vehicle in addition to the third party vehicle damage. No one can predict an accident or a theft, and such an incident can drain you financially and emotionally, if you are unprepared. Hence, to avoid that discomfort, always keep your insurance policy up to date.     

Features of Car Insurance Policies at Magma HDI

  • Cashless claim at more than 4300+ Network Garages
  • Easy Purchase from their website or even through Fincover
  • No Unnecessary Paper works
  • Wide Range of Discount
  • Superior Customer Support 24/7

What is covered in Car Insurance at Magma HDI?

  • Third Party Liability: Coverage against Third Party Liabilities arising out of damages sustained to third party vehicle or person
  • Loss or Damage to car: Loss or damage to car and the accessories fit inside in the event of an accident
  • Natural Disasters: Coverage against Fire, Explosion, Self-ignition, Earthquake, Flood, Typhoon, Hurricane, Landslide and other kinds of natural disasters
  • Man-made disasters: Provides coverage against theft, burglary, riot, strike, and other means
  • Cashless Garages: Magma HDI has tie-ups with various cashless garages across the country. You can use their website to locate the cashless garage most comfortable to you.

What are the exclusions in a Magma HDI Car Insurance

  • Wear and tear of the vehicle due to regular usage
  • Mechanical and Electrical Breakdown
  • Intoxicated driving
  • Driving without a valid license
  • Cars being used other than in accordance with prescribed limitations for use
  • Damages incurred outside the geographical limits
  • Damage due to war, mutiny etc

Damage due to war, mutiny etc Add-on covers available with Go Digit Car Insurance Plans

Magma HDI offers a range of add-ons that will be definitely worth the money. You can buy it an affordable premium and get complete protection

Personal Accident Cover

Compulsory Personal Accident Cover of 15 lakhs for owners. It is not applicable for company-owned cars.

Additional Legal Liabilities

While applying for this insurance, you can also opt for additional legal liabilities at an additional premium which may be used for:

  • Paid Driver/Conductor involved in the operation of vehicle
  • Employees travelling other than the paid driver
  • Non-fare paying passengers

Bi-fuel Kit

CNG-LPG Kit can be protected by paying an additional premium

Engine Protection

Covers the cost incurred towards repair or replacement due to consequential damages of the internal parts of the engine following an accident

Zero Depreciation cover

Having this cover pays the value of the parts without any depreciation in the event of parts damage

Tyre Protect Cover

Covers the damage of tyres and tubes following an accident

How to file a claim at Magma HDI?

If you want to file a claim, visit their official site, and place a claim request. Their claims executive will call you back with the exact claim settlement process. It is best advised to file an FIR in the event of an accident.

Cashless Claim

  • Contact Magma HDI immediately after the accident. Locate a cashless garage 
  • Seek Roadside assistance if your car is not in a condition to move
  • Once, the car is in the garage, it will be inspected  by surveyor
  • Post inspection, the repairs will be done and the bills are directly settled by the insurer

Reimbursement Claim

  • Here the claim process is similar to the above, except, you can drop your vehicle at any garage.
  • In the event of getting your vehicles repaired at non-network garage, you will have to submit the bills along with duly filled claim form and apply for reimbursement
  • Mostly your claim will be settled within 7 days.
For Car Insurance, Magma HDI has a claim settlement ratio of 95.7%
You can get a cashless claim for your Magma HDI Car Insurance Policy by leaving your vehicle in authorized cashless garage. Magma HDI has more than 4000+ Network Garages all over the country
Copy of claim intimation, copy of policy, premium receipt, duly-filled claim form, driving license copy, estimate of repairs, bills and memo (in the event of reimbursement), Road tax certificate, Police Panchnama