Download the Policybazaar app
to manage all your insurance needs.
*Standard T&C Apply.UIN/ADV/1368/Banner/August/2022-23
-
Home
-
Car Insurance
-
Magma HDI Car Insurance
- Zero Depreciation
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.
You might be interested in
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
Car zero Depreciation Insurers
Bajaj Allianz Zero Depreciation Car Insurance
Chola MS Zero Depreciation Car Insurance
Digit Zero Depreciation Car Insurance
Future Generali Zero Depreciation Car Insurance
HDFC Ergo Zero Depreciation Car Insurance
IFFCO Tokio Zero Depreciation Car Insurance
Kotak Mahindra Zero Depreciation Car Insurance
Liberty Zero Depreciation Car Insurance
Expand
FAQs
-
Q1. Can I buy a Magma zero dep cover for my 5-year-old car?
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.
-
Q2. What is not covered under a Magma HDI zero dep car insurance?
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.
-
Q3. Can I purchase a Magma HDI zero depreciation cover with a third-party car insurance policy?
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.
-
Q4. Can I buy a Magma zero depreciation cover online?
Ans: Yes, you can easily buy a Magma zero depreciation cover along with your comprehensive car insurance policy online on Policybazaar.com.
Car insurance articles
Recent Articles
Popular Articles
29 Nov 2023
Considering the population of rats in our country, it is common to
29 Sep 2023
The concept of Own Damage(OD) is not a new one. For those of us
29 Sep 2023
Filing a motor insurance claim can be a complex process, and
29 Sep 2023
To continue receiving coverage benefits, it's necessary to renew
20 Sep 2023
Having third-party car insurance is mandatory as per the motor