Magma HDI General Insurance Company Limited is a joint venture between Magma Fincorp Limited and HDI Global SE Germany. It uses Magma Fincorp’s in-depth understanding of Indian markets to identify the needs of its customers and amalgamates it with HDI Global’s innovative approach to serve them in the most efficient manner. Magma HDI offers a range of innovative retail & commercial line of general insurance products.
Magma HDI is one of our Premium Insurance Partner. With a claim settlement ratio of almost 95%, unique customer base of more than 46 Lakh, protection against most of the unforeseen situations including natural calamity, you can be assured that your car is well protected.
Add-Ons from Magma HDI for Your Car Insurance
Comprehensive motor insurance policy only covers accidental damage to the vehicle or damage to the third party by the vehicle and doesn’t cover some specific risks such as engine or tyre damage. It is also possible that claiming under motor insurance can nullify the no claim benefits. Magma HDI offers add-ons so that you can cover such eventualities also in case of any unforeseen circumstance.
Assists you in case your car breaks down in the middle of the road far from the city. With Road Side Assistance Add-On from Magma HDI you are never far from a service center.
Engine Protection Add On from Magma HDI covers you in case the engine gets damaged which is not covered in the comprehensive insurance package.
Pays you the value of the parts without deducting any depreciation in case of parts damage. Popularly known as bumper to bumper insurance, it covers all sorts of expense resulting after an accident or any untoward incident
Covers you in case of any damage to your vehicle tyres which is not covered in general comprehensive motor insurance.
Available discounts from Magma HDI on your motor insurance
If you do not make a claim during the policy period, a No-Claims Bonus (NCB) is offered at the time of car insurance renewal. This discount can go as high as 50% (NCB will only be allowed provided the policy is renewed within 90 days of the expiry date of the previous policy).
You can avail more discount on the insurance premium, if you opt for a Voluntary Excess, in addition to the Compulsory Excess (Compulsory Excess is the amount of loss which the insured has to bear in each and every claim).
You can avail additional discount, if you are a member of the Automobile Association of India (AAI), which is registered with IRDAI.
If you have installed anti-theft devices approved by the Automotive Research Association of India (ARAI) in your car, you can avail 2.5% discount (or up to Rs. 500) on your Own-Damage (OD) Premium.
How to Buy Motor Insurance from Magma HDI
- Sign Up for the above form
- You will get an instant call from our executive asking for further details
- Share the related documents
- In case your policy has expired, someone from our team will go and do inspection
- Upon completing of all the relevant process you will get your insurance policy
Alternatively you can also visit the official website of Magma HDI and get your car insurance policy.