• Magma HDI General Insurance

    Car Insurance
    • Protect yourself with third party or complrehensive cover
    • Use bumper to bumper policies to reduce your liability
    • Enjoy facilities like zero depreciation and roadside assistance covers

    Magma HDI, with the vision to become a top and responsible general insurance company, offers several insurance products to cater to the insurance needs of individuals. The company has many online options such as automatic call request, claim registration, network garage locator, and so on. Individuals can access information about any of the plans offered by the company by downloading the product brochure or prospectus. 

    Each of the insurance categories and the plans offered by the company is given below: 

    Popular Insurance Products Offered by Magma HDI General Insurance Company

    Motor Insurance 

    The motor insurance plans offered by Magma HDI include plans for private as well as commercial cars and two-wheelers. Motor Act Only policies in addition to package policies are available under the insurer. Individuals can opt for motor insurance add-ons if they wish to enhance the base coverage. 

    • Private Car Insurance Package 
    • Commercial Comprehensive Insurance Package 
    • Two-wheeler insurance package 
    • Motor Trade Internal Risk Insurance 
    • Motor Trade Insurance Package 
    • Motor Act Only Policy 
    • Third-party Long-term Two-wheeler Insurance Policy 
    • Motor Add-ons 

    Health Insurance 

    The general insurer offers three health insurance products – a comprehensive insurance plan, a loan liability plan that will help family members clear the policyholder’s debts in case the life insured falls ill, and a personal accident plan. Prospective policyholders can opt for any of the three plans based on their requirements. 

    • One Health 
    • Loan Guard 
    • Individual Personal Accident Policy 

    Liability Insurance 

    This insurance category, made available by Magma HDI covers several legal liabilities that individuals may face due to various mishaps. Any legal liability faced by a policyholder for an error, an omission, damage to property, etc. are covered under these plans. 

    • Public Liability Insurance Act 
    • Public Liability Industrial Insurance 
    • Public Liability Non-industrial Insurance 
    • Product Liability Insurance 
    • Clinical Trials Liability Policy 
    • Directors & Officers Liability Policy 
    • Errors and Omissions Insurance Policy 

    Fire insurance 

    Industries that are prone to fires should get the fire insurance plans offered by Magma HDI. The company offers three plans – a comprehensive plan that covers a wide range of risks, a plan that covers the material damage suffered by the policyholder, and a plan that helps cover the consequential losses of the fire accident. 

    • Industrial All Risk Insurance 
    • Standard Fire and Special Perils Insurance Policy 
    • Fire Loss of Profits Insurance Policy 

    Engineering insurance 

    Engineering insurance plans, offered by Magma HDI, can be availed by individuals whose businesses involve heavy and expensive machinery. The insurance plans will cover the damage or breakdown of the machinery. 

    • Machinery Breakdown Insurance 
    • Machinery Loss of Profits Insurance Policy 
    • Boiler & Pressure Plant Insurance 
    • Electronic Equipment Insurance 
    • Erection All Risk Insurance 
    • Contractor’s Plant and Machinery Insurance 
    • Contractor’s All Risks Insurance 

    Marine Insurance 

    Marine insurance policies basically cover loss or damage to cargo in transit. Individuals who ship cargo can get any of the three marine insurance plans offered by the company based on their requirements. 

    • Marine Cargo Specific Voyage 
    • Marine Cargo Open Insurance Policy 
    • Marine Cargo Insurance 

    Miscellaneous Insurance 

    Besides all the insurance plans mentioned above, Magma HDI offers two miscellaneous insurance plans. While the burglary insurance offers coverage for cash, assets, or securities stolen from an individual, the all-risk policy covers many different valuable items owned by an individual such as jewellery, camera, laptop, etc. 

    • All Risk Policy 
    • Burglary Insurance Policy 

    Magma HDI is a partnership between Magma Fincorp and HDI Global SE Germany. Magma Fincorp is an NBFC and HDI Global is a multi-branch insurance and financial services provider. The company is well known for its services and insurance products. 

    The content on this website is meant only for general information purpose and does not and shall not be construed as any solicitation, procurement, display, aggregation, marketing or advertisement of insurance products. BankBazaarInsurance is not an insurance intermediary and hence does not endorse or solicit any such products. The information on this website is derived from publicly available sources and BankBazaarInsurance cannot verify or confirm the genuineness, truth, veracity or authenticity of this information.

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