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.
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:
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:
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:
The following documents are necessarily required to raise a claim under Magma HDI zero depreciation cover:
Ans: Yes, you can purchase a Magma zero depreciation cover for your 5-year-old car. A zero dep cover can be purchased for new and old cars of up to 5 years old.
Ans: A Magma HDI zero depreciation does not cover drunk driving, third-party damages, driving without a license, cars more than 5 years, or mechanical or electrical failure.
Ans: No. A Magma HDI nil depreciation add-on can only be purchased with a comprehensive car insurance plan as it only covers depreciation borne by the insured car.
Ans: Yes, you can easily buy a Magma zero depreciation cover along with your comprehensive car insurance policy online on Policybazaar.com.
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*Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB. Actual time for transaction may vary subject to additional data requirements and operational processes.
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*Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB. Actual time for transaction may vary subject to additional data requirements and operational processes.
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