One among the most preferred insurance service providers, Magma HDI General Insurance is a joint collaboration between HDI Global SE Germany and the Kolkata-based Magma Fincorp Ltd. Magma HDI Car Insurance is one of their insurance products.
|Cashless Network Garages||NA|
|Incurred Claim Ratio 2017-18||81.71%|
|Net Earned Premium 2017-18||Rs.320.49 crore|
|Additional Covers Provided||
Listed below are the features and benefits of Magma HDI car insurance:
Customers can avail a car insurance policy from Magma HDI by following the steps mentioned below:
|Host of discounts|
|Good add-on options|
The following are the add-on covers provided by Magma HDI car insurance:
Loss or damage caused due to:
||When the policyholder uses the vehicle contrary to mandated instructions|
|Loss due to theft, robbery, and other manmade calamities such as strike, riots, terrorist activities, accidental external damage||Accident due to intoxication|
|Damage caused due to travel by road, air, elevator, inland waterway||Damage due to own negligence|
|Third-party liability in cases of injury, death or damage||Mechanical or electrical breakdown|
|Personal accident cover||Loss due to nuclear risks|
|Loss due to electrical or non-electrical accessories||War related risks|
|Legal liability to passengers who do not pay fares||Consequential loss|
|Loss of accessories by theft|
|If used/driven outside geographical area|
|Age of vehicle||% of depreciation|
|Not exceeding 6 months||5%|
|Exceeding 6 months but not exceeding 1 year||15%|
|Exceeding 1 year but not exceeding 2 years||20%|
|Exceeding 2 years but not exceeding 3 years||30%|
|Exceeding 3 years but not exceeding 4 years||40%|
|Exceeding 4 years but not exceeding 5 years||50%|
Magma HDI provides offers customers services at their empanelled list of cashless garages across the country. Customers have the advantage of directly making claims at any of the list of garages available to the insurance provider. To locate the nearest network garage, log on to the website and you can easily obtain this information.
Filing a claim is a very organised, hassle-free and hasty process. All you have to do is log on to their website and provide your details. You will then be contacted by a Magma HDI representative who will provide you stepwise assistance throughout the claim settlement process. Once this is done, you can register your claim instantaneously. The process of filing a claim and the documents required differs slightly depending on the kind of emergency situation like theft, accident, death or natural calamities. It is usually advisable to file an FIR in case it is an accident case. There are a few important guidelines that need to be followed while filing a claim. Below are the details:
Let's explore the steps to be taken while making a cashless claim:
The following are the steps to be taken to file a claim for reimbursement:
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