Magma HDI General Insurance Company Ltd. is a joint venture between the Kolkata based Magma Fincorp Ltd and German heavyweight insurer HDI-Gerling Industrie Versicherung. This insurance venture is exclusive provider of an array of non life insurance products in India. With a vision to be the the most preferred, vibrant, and responsible general insurance company, Magma HDI is poised to be a domain expert with its massive products portfolio in the general insurance segment.
Magma HDI Auto Insurance segment provides comprehensive insurance options private cars, two wheelers and commercial vehicles along with ancillary packages for all categories of motor vehicles.
Overview of Magma HDI Auto Insurance for Cars
This policy is designed with a vision to provide an all inclusive coverage which not only shields liabilities arising out of injury or damage to a third party, but also the loss or damage to the insured vehicle.
General Features of Magma HDI Auto Insurance for Cars
Coverage: By default, the scope of coverage includes protection against legal liability arising out of damage caused to third party person/property involving the insured car. The policy also protects the insured vehicle by means coverage of damage caused to the vehicle and its accessories. The coverage includes damages inflicted by both natural and man made calamities.
Sum Insured: The premium and sum insured are determined on the basis IDV(Insured’s declared value) - as per the standard industry practice. This sum is calculated on the basis of manufacturer’s listed selling price of the vehicle and the cost of accessories minus depreciation at a fixed percentage every year.
Additional Coverage: Magma HDI also provides add on covers for the standard policy such as personal accident cover, coverage for Bifuel kits etc. at nominal premium costs.
Benefits of Magma HDI Auto Insurance
Discounts on Premium
Further reduction in the annual premium payable can be in the form of NCB(No claim Bonus), discount for voluntary excess and monetary perks for installing anti theft devices. Members of recognised automobile associations are also eligible for attractive discounts on the insurance premium.
Easy & Cashless Claims
Claims processing is quick and efficient owing to a robust system. With the cashless claims feature, Magma HDI settles the claim amount directly with the network garage. For repairs outside the network, the settlement is equally efficient.
Peak Time Customer Support
Customer service is always at your disposal for all your claims and queries. Magma HDI provides a three way support system which includes phone support, e mail service and DIY online system. Manage your insurance account online that comes with a user friendly interface.
Magma HDI Auto Insurance for Two Wheelers
Two wheelers are the most exposed category of motor vehicles on road today in terms of accidents and mishaps. It is very important to protect your interests by means of an insurance cover. Magma HDI offers cover for two wheelers with features and benefits akin to the private car policy.
One can buy or renew an existing Magma HDI Vehicle Insurance Online within minutes by following the on screen instructions on the portal.
GST Update: GST of 18% is applicable on car insurance effective from the 1st of July, 2017