Magma HDI Car Insurance Claim

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Magma HDI General Insurance Co. Ltd. is a joint enterprise between HDI Global SE Germany and Magma Fincorp Ltd., Kolkata.

Magma HDI (MHDI) Car Insurance Claim Process

Magma HDI Car Insurance claim process includes the following steps:

• Inform the insurer as soon as the mishap takes place and provide the requested details with respect to the mishap.
• Provide the insurer with the name and address of the garage where the vehicle will be taken for repairs.
• File an FIR at the nearest police station in case of theft.
• Drive or get your vehicle towed to the nearest garage for repairs.
• In case of an accident, the vehicle should be repaired only after the surveyor’s inspection of the vehicle.
• The surveyor will provide you with loss assessment details once the survey process is completed.
• Once the repairs are done, MHDI will send a surveyor to carry out re-inspection of the vehicle.
• All the requested documents, originals and copies, should be submitted to the surveyor or the nearest MHDI office for verification.
• In case of a cashless claim, if the vehicle was repaired at an MHDI authorised garage, the insurer will settle the bills for repairs directly with the garage.
• In case of a reimbursement claim, if the vehicle was repaired at an MHDI unauthorised garage, the bills for repairs should be settled by you directly with the garage. The payment receipt and invoice for the repairs should be submitted to the insurer. The insurer post verification of the submitted documents will reimburse the amount you spent on the repairs.
• MHDI will settle the claim within 7 working days post receiving all the requested documents.

To Be Submitted:

The documents, information and objects to be submitted at the time of a mishap are as follows:

• In case of Theft:
  • Claim Form duly filled and signed by the policyholder
  • Repair bills
  • Vehicle’s Registration Certificate (RC)
  • Photographs of the damaged car
  • The driving license of the person driving the vehicle at the time of mishap
  • Vehicle keys
  • FIR filed by the policyholder
  • No Trace Report from the police
  • Fire Brigade Report (in case of fire)
  • Letter of Subrogation
  • Letter of Indemnity
  • Power of Attorney in case of total loss and theft
  • Discharge Voucher
  • NOC from the financer in case of total loss and theft
• In case of Accident:
  • Claim Form duly filled and signed by the policyholder
  • FIR filed by the policyholder
  • Vehicle’s Registration Certificate (RC)
  • Fire Brigade Report (in case of fire)
  • The driving license of the person driving the vehicle at the time of mishap
  • Photographs of the damaged car
  • Repair bills
  • Discharge Voucher

Exclusions of Magma HDI Car Insurance

Magma HDI car insurance claim process will not be applicable under the following circumstances:

• General wear and tear of the vehicle due to aging
• If the person driving the vehicle was underage or didn’t have a valid licence
• Depreciation in vehicle's value
• If the person driving the vehicle was under the influence of alcohol/drugs
• Mechanical and/or electrical breakdown of the vehicle
• Loss or damage as a result of war/mutiny/nuclear risk
• If the vehicle bought for personal use was being used for commercial purpose or vice-versa
• If the accident took place outside of the specified geographical location

Magma HDI Car Insurance FAQs:

1. Is it necessary to inform the insurer in case I fit a CNG/LPG kit in the vehicle?

Yes, it is necessary to inform the insurer when you fit a CNG/LPG kit in the vehicle.

2. What factors determine my car insurance premium?

Your insurance premium is determined based on the following factors:

• The type of insurance plan you have chosen; third-party liability cover or comprehensive car insurance cover
• The manufacturing year of your car
• The Insured Declared Value (IDV) of your car
• Your area of residence
• The make and model of your car
• Any add-ons you want to opt
• Number of No Claim Bonuses

3. What is a comprehensive car insurance cover?

A comprehensive car insurance cover is an agreement between the insurer and the insured where the insurer promises to financially protect the insured at the time of a mishap in exchange for a premium. Both third-party liabilities, as well as own damage liabilities, are covered under this insurance policy.

4. What is a voluntary deductible in car insurance?

A voluntary deductible is a part of the insured amount that you offer to pay at the time of claim settlement.

5. Does my area of residence have an impact on my insurance premium?

Yes, your area of residence has an impact on your insurance premium.