Magma HDI Zero Depreciation Car Insurance

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Magma Hdi Zero Depreciation Car Insurance
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      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.

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      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

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      #Rs 2094/- per annum is the price for third-party motor insurance for private cars (non-commercial) of not more than 1000cc

      *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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