Magma HDI Zero Depreciation Car Insurance

A Magma HDI zero depreciation add-on cover can additionally be purchased with your Magma comprehensive car insurance policy. This add-on covers the cost of any depreciation borne by your car or its parts which is usually not covered under a standard comprehensive motor insurance policy.

Read more


No documents required Compare & Save upto 85%* on Car Insurance
Renew in 2 minutes
Chose from 20+ insurers
51 lakh+ Cars insured
Processing

Compare & Save upto 85%* on Car Insurance

Cashless garages4000

Plans starting @₹ 3507

Claim settlement ratio

Claim settlement ratio 97.1%

*TP price for less than 1000 CC cars. All savings are provided by insurers as per IRDAI approved insurance plan. Standard T&C apply.

Benefits of Magma HDI Zero Depreciation Insurance

The value of a car starts to depreciate as soon it is taken out of the showroom. This depreciated value is deducted by your insurer at the time of claim settlement. With the help of a Magma HDI zero dep cover, a policyholder can get the whole claim amount without deducting the cost of depreciation borne by the insured vehicle. Some benefits of having a Magma HDI zero depreciation cover include:

  • No Out-of-Pocket Expenses: By purchasing a Magma zero depreciation add-on, you will not have to pay any depreciation-related expenses out of your pocket. All the expenses along with depreciation will be covered by your insurer.
  • Overall Protection: With Magma zero depreciation car insurance, you can get overall protection in case your car meets with an unforeseen incident. 
  • Easy Claim: Claiming under a Magma HDI nil depreciation cover is also very simple and easy. The company offers a timely and straightforward approach towards claim settlement.
  • Affordable Premium: The premium of a Magma HDI zero depreciation cover is also very affordable. By paying a small premium over your existing one, you can get your car fully covered with a zero dep cover.

How to Buy Magma HDI Zero Depreciation Add-on Cover?

You can buy Magma HDI zero dep add-on along with a comprehensive car insurance policy easily from Policybazaar.com. Follow the steps given below:

  • Visit the homepage of Policybazaar.com
  • Select the 'Car Insurance’ from the 'Insurance Products' dropdown
  • Enter your car number and select the rest of the details of your car
  • From the given comprehensive car insurance plans, select Magma HDI car insurance plans
  • Now, add the 'Zero Depreciation' cover from the 'Add-ons and Accessories' dropdown
  • Once, you have selected the add-on, your premium will get updated accordingly
  • Now pay the premium amount via desired online mode of payment
  • Once you have paid the premium, you will be issued Magma HDI comprehensive car insurance policy along with zero depreciation cover.

Magma HDI Zero Depreciation Car Insurance Claim Process

Claiming for a Magma HDI zero depreciation car insurance is also very simple. Here is how you can claim with a Magma zero dep add-on cover:

  • Firstly, inform the insurance company about the damages sustained by your car
  • The insurance company upon intimation will register a claim under your plan
  • A surveyor will be appointed by the insurance company to estimate the cost of damages sustained by your car
  • The insured vehicle will then be sent for repairs to an authorised garage. 
  • Once the repairs are done, the insurer will directly settle the claim with the network garage
  • Since the policyholder has purchased a zero dep cover, the insurer will pay the full claim amount without deducting the depreciation. 

Documents Required for a Magma HDI Zero Depreciation Car Insurance Claim

The following documents are necessarily required to raise a claim under Magma HDI zero depreciation cover:

  • Magma HDI motor insurance policy papers
  • Valid driving license
  • Copy of Registration Certificate
  • Duly filled and signed claim form
  • Estimates of repair and bills of repair
  • Copy of Police FIR

FAQs

Find similar car insurance quotes by body type

Hatchback Sedan SUV MUV
 Why buy from policybazaar

Car insurance articles

Recent Articles
Popular Articles
Does Comprehensive Car Insurance Cover Hit and Runs?

09 Jan 2023

Yes, your comprehensive car insurance policy may cover the damages
Read more
The New IRDAI Regulations for KYC in Car Insurance

03 Jan 2023

As per the IRDAI guidelines, all motor insurance sectors including
Read more
How Can We Use Roadside Assistance Cover in Car Insurance?

09 Dec 2022

Roadside Assistance is an add-on cover offered with your
Read more
Is Nut Bolt Covered Under Car Insurance?

06 Dec 2022

No, any damage to the nut bolt or any other consumable of your
Read more
What Happens When You Only Have Third-Party Insurance?

05 Dec 2022

Third-party car insurance is a mandatory cover as per the motor
Read more
Getting Your Duplicate Car Insurance Policy is Easy-Here’s How!
Losing your car insurance documents can be daunting. In such a state of affairs, the first thing that comes to your
Read more
Check Car Insurance Status Online on Parivahan Sewa/ RTO?
It doesn’t matter if you are an excellent driver or take your car out only once in a few months, your car must be
Read more
Multiple Ways To Check Your Car Insurance Status Online
With everything going digital, checking vehicle insurance status online has become easier than ever. It not only
Read more
How to Find Car Insurance Details by Registration Number?
As a car owner, it is mandatory to have a car insurance policy under the Motor Vehicles Act, 1988. Sometimes, you
Read more
Transferring Car Insurance from One Person to Another
An integral part of selling a car, for both the buyer and the seller, is ensuring a successful car insurance
Read more

top
View Plans
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL