Magma HDI Car Insurance Add on Covers

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Buying car insurance policy is not enough today. The policy comes with certain exclusions such as depreciation cost of the repaired parts, consumable expenses, engine problems, etc. Keeping all that in mind, Insurance providers, such as Magma HDI, offer customers add-on covers to increase their coverage. With the help of these riders, Magma HDI policyholders can get wide coverages. There are several Magma HDI car insurance add-on covers you can choose from as per your requirement. These can be added to a comprehensive insurance or a standalone insurance plan of Magma HDI. Let us know more about the Magma HDI car insurance add-on covers. 

Magma HDI- 10 Important Add-on Covers for Your Car Insurance Policy

The add-on covers of Magma HDI car insurance come with an additional premium. So, choose the one that meets your needs as well as budget. Here’s a list of those add-on covers.

No Claim Bonus Protection Cover

 No-Claim Bonus is a reward that the insurance company provides the policyholder for every claim-free year. If you have not raised a single in a year of your policy term, the insurer will give you a bonus in the form of discounts on the premium. In addition, for every claim-free year, the percentage of NCB increases. However, a single claim will diminish all such benefits, not when you have a Magma HDI car insurance no claim bonus protection cover 

Zero Depreciation Cover 

The most common rider out of the Magma HDI car insurance add-on covers is the zero depreciation cover. By purchasing this rider, you can ensure that you will receive complete compensation for the damages incurred by the vehicle, including the car's depreciated value. With a zero depreciation cover in place, you would not have to pay for the depreciation out of your own pocket. Instead, Magma HDI will pay the complete amount at the time of claim settlement, without factoring in the vehicle's depreciated value. 

Engine Protection

It is a rider under which Magma HDI reimburses the damages incurred by your car's engine in the event of an accident. This rider is highly beneficial for those who live in flood-prone areas and face engine damage due to waterlogging. Water ingression also causes mechanical and electrical breakdowns covered under the engine protection cover.

Personal Accident

Personal accident cover is a protective rider that covers personal injuries faced by the policyholder. The Magma HDI car insurance add-on covers have the facility of buying a personal accident cover over a comprehensive and a standalone plan.

Roadside Assistance

This rider aids the policyholder at the accident site if they need any assistance. Roadside assistance is a rider under which the insurance company pays compensation for the expenses incurred by the policyholder in acquiring assistance at the accident site. 

Key Replacement

As the name suggests, the key replacement rider covers the expenses incurred by the policyholder while replacing the vehicle's lost keys in the event of an accident or collision. Magma HDI covers expenses for replacing the car keys if they are lost or misplaced in an accident.

Return to Invoice

Return to invoice is a rider that helps the policyholder receive the complete value of the vehicle at the time of an accident. The insurer must match reimbursement with the car's original cost mentioned on the purchase invoice. This will be beneficial if the vehicle suffers total constructive loss or is stolen. 

Tyre Damage

Tyre damage cover, one of the Magma HDI car insurance add-on covers, is a rider that covers expenses incurred from tyre damages during an accident. If your car tyres incur structural damages in a collision, the insurer will compensate the complete amount spent on repairing the tyres.

Loss of Personal Belongings

Policyholders can buy a loss of personal belongings cover for protection against the loss of belongings such as clothing, electronics, etc, in the event of an accident. Magma HDI would compensate for the loss of belongings during a mishap involving your insured. 

Ambulance Cover

As the name suggests, an ambulance cover is a rider under which the insurer compensates for the expenses incurred due to availing the services of an ambulance. During an accident, if the policyholder or any other person is injured and an ambulance is called on-site, the expenses incurred by the policyholder would be reimbursed by Magma HDI. You can buy this rider listed under the Magma HDI car insurance add-on covers. 

Magma HDI Car Insurance Add on Cover FAQs

  • 1. Can I transfer the NCB earned from my old policy to Magma HDI and apply for its NCB protection cover

    You can transfer your NCB benefit to Magma HDI on renewal and add that protection cover too.

  • 2. Can I buy zero depreciation Magma HDI car insurance add-on cover for my 10-year-old vehicle?

    The zero depreciation rider is only available for less than five years old cars. 

  • 3. Is it necessary to buy Magma HDI car insurance add-on covers?

    Magma HDI add-on covers increase the coverage of specific areas that are prone to damage. Therefore, it is recommended to buy add-on covers on top of your base policy. 

  • 4. Would I have to pay an extra premium for Magma HDI car insurance add-on covers?

    Add-on covers are available for a minor increase in the premium you pay for your policy. This is because the riders provide increased coverage to the policyholder.

  • 5. I live in a flood-prone area of my state. Should I buy a tyre damage add-on cover of Magma HDI for my car?

    People who live in flood-prone areas do face risks of water-related damages to their cars. A tyre damage cover would be ideal for covering the expected damages due to waterlogging. 

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