Magma Car Insurance is a motor insurance policy offered by Magma General Insurance Company, designed to protect Indian car owners against third-party liabilities, vehicle damage, and unforeseen losses. It offers third-party, comprehensive, and standalone own-damage plans, along with access to a wide cashless garage network and flexible add-ons, making it a practical choice for everyday driving in India.
Magma General Insurance Company Limited (previously known as Magma HDI General Insurance Limited) is a Pan-India general insurance provider founded in 2009, formed as a joint venture between India’s Magma Fincorp and Global SE of Germany, with IRDAI Registration No. 149. It offers a wide range of products with a strong focus on motor insurance alongside health and commercial lines, and complies fully with IRDAI regulatory standards for solvency and claims handling. The company has been recognised with industry awards for customer centricity and technology excellence, reflecting its commitment to digital and customer-focused initiatives.
| Feature | Details |
|---|---|
| Cashless Garage Network | Access to 4,000+ cashless garages across India |
| Personal Accident Cover (Owner-Driver) | Coverage up to ₹15 lakh |
| Additional Legal Liability Cover | Optional cover for paid driver/employee legal liability |
| Bi-Fuel Kit Cover | Optional protection for CNG/LPG bi-fuel kits |
| Battery Add-On Cover | Covers battery damage/loss, especially useful for modern and EV-ready cars |
| Accessories Cover | Protection for electrical & non-electrical accessories with additional premium |
| Zero Depreciation Claims | Unlimited |
| Normal Claims | Unlimited |
Magma Car Insurance is designed to offer not just protection but also meaningful cost savings for responsible car owners through multiple discounts and rewards.
Get rewarded for safe driving with a discount of up to 50% on your own-damage premium for every claim-free year.
Opt to pay a small part of the claim amount yourself and enjoy a lower premium in return.
Members of recognised Automobile Association of India (AAI) clubs are eligible for special premium discounts.
Installing approved anti-theft devices in your car reduces theft risk and helps you save on insurance premiums.
These benefits make this car insurance policy a cost-effective and rewarding choice for Indian car owners.
Magma third-party policy provides statutory coverage mandated under Indian law, protecting you financially against injury, death, or property damage caused to others in an accident involving your car. It’s an essential base plan for every vehicle on Indian roads.
This plan from Magma protects your car against physical damage due to accidents, theft, fire, natural disasters, or man-made calamities — without including third-party liability. It’s ideal when combined with existing third-party cover or as part of a broader custom policy.
Also known as Magma comprehensive policy, this plan bundles third-party liability and own damage cover, giving end-to-end protection for both third-party losses and damage to your own vehicle. It also offers flexibility to include optional add-ons like zero-depreciation, engine protection, roadside assistance, and return to invoice.
Magma Car Insurance offers well-rounded protection that safeguards both your car and your legal responsibilities, ensuring peace of mind for Indian car owners.
Covers own damage to your car and its accessories caused by accidents, fire, explosion, self-ignition, lightning, or theft, ensuring financial protection against sudden and unexpected losses.
Protects your vehicle against natural calamities such as earthquakes, flood, cyclone, storm, landslide, hailstorm, frost, and inundation.
Includes coverage for man-made calamities like riot, strike, malicious acts, burglary, theft, terrorist activity, and damage caused during transit by road, rail, air, or inland waterways.
Provides mandatory third-party liability cover, safeguarding you against legal liabilities arising from bodily injury, death, or property damage to third parties.
Offers personal accident cover for the owner-driver, providing financial support in case of accidental death or permanent disability, as per policy terms.
To avoid claim surprises, it’s important to understand the standard exclusions under Magma car insurance.
Excludes normal wear and tear, ageing of the car, depreciation, and any consequential or indirect losses.
Does not cover mechanical or electrical breakdowns unless they occur due to an insured accident or are covered under an add-on.
Claims are rejected if the vehicle is used beyond the policy’s permitted limitations, such as unauthorised commercial use.
Loss or damage is not payable if the car is driven without a valid driving licence or under the influence of alcohol or drugs.
Damages occurring after policy expiry or arising from war, mutiny, rebellion, or nuclear risks are not covered.
Magma Car Insurance offers a strong set of add-on covers that allow car owners to customise protection beyond standard coverage, especially useful for EVs, hybrids, financed cars, and daily city driving.
Designed specifically for electric and hybrid vehicles, this add-on protects the most expensive component—the battery and related EV/HEV systems. It covers losses arising from unexpected power surges during charging, as well as consequential damage due to water ingression or short circuit, including damage to the battery, electric motor, and hybrid system, whether factory-fitted or installed separately.
Ensures no depreciation deduction on replaced parts during claims, allowing you to receive a higher claim payout, especially beneficial for newer cars.
In case of total loss or theft, this add-on reimburses the original invoice value of the car, including registration charges and road tax, instead of the depreciated IDV.
Magma provides a compulsory personal accident cover of ₹15 lakh for individual owner-drivers while driving the insured car. This cover applies only if the owner holds a valid driving licence and is not applicable to company-owned vehicles.
Offers extended legal protection for liabilities related to paid drivers, conductors, or cleaners employed for vehicle operation, employees travelling in or driving the vehicle (other than paid drivers), and non-fare-paying passengers. This add-on is useful for employers and households using drivers.
Covers legal liability arising from the use of a CNG/LPG bi-fuel kit, provided the kit is approved and declared in the policy.
Protects against costly repairs caused by water ingress, leakage of lubricating oil, or mechanical damage, which are otherwise excluded in standard policies.
Provides on-the-spot help for breakdowns, towing, flat tyres, battery jump-start, and emergency assistance.
Buying Magma Car Insurance online through Coverfox is quick, transparent and allows you to compare plans and get instant policy issuance:
Go to the Coverfox insurance page and choose Car Insurance as the product.
Enter your vehicle registration number and previous policy details to begin.
Fill in basic details such as car make, model, variant, fuel type, and year of registration.
From the list of available insurers, select Magma General Insurance and the plan you want — third-party, own-damage, or comprehensive.
Choose any add-on covers you prefer (like zero depreciation or battery cover).
Complete the online payment for the premium using net banking, debit/credit card, or UPI.
Once paid, you’ll receive your Magma car insurance policy documents instantly by email.
Using Coverfox also lets you compare premium quotes and benefits across insurers before finalising your Magma policy.
Magma has a wide network of 4,000+ garages across India, making cashless repairs convenient and accessible for policyholders. You can easily locate a Magma cashless network garage online by following the steps below:
Visit: https://www.magmainsurance.com/en/web/magmainsurance/more/contact-us
Go to the Locate Garages option
Enter your pin code
Magma will display the list of available network garages in that pin code
1800 266 3202
Available 24×7 for all customer queries and assistance
Customer Care: customercare@magmainsurance.com
Senior Citizens Support: namaskar@magmainsurance.com
MIRA (Magma Interactive Realtime Assistant): AI-powered chat service for instant insurance help
WhatsApp: Send “Hi” to 7208976789 to start chatting with MIRA
Address:
Equinox Business Park, Tower 3, Ambedkar Nagar,
2nd Floor, Unit No. 1B & 2B, LBS Marg,
Kurla (West), Mumbai – 400070, Maharashtra, India
Customers can register requests, queries, or complaints through the official grievance mechanism. If not satisfied, grievances can be escalated to the Branch Grievance Officer.
Email: gro@magmainsurance.com
Address:
Equinox Business Park, Tower 3, Ambedkar Nagar,
2nd Floor, Unit No. 1B & 2B, LBS Marg,
Kurla (West), Mumbai – 400070, Maharashtra, India
Debenture Trustee: Axis Trustee Services Limited
Address:
Axis House, Bombay Dyeing Mills Compound,
Pandurang Budhkar Marg, Worli, Mumbai – 400025
Email: debenturetrustee@axistrustee.in
Email: companysecretary@magmainsurance.com
Address:
Equinox Business Park, Tower 3, 2nd Floor,
Unit No. 1B & 2B, LBS Marg,
Kurla (West), Mumbai – 400070
Disclaimers
* Savings are based on the maximum discount provided on own damage premium as offered by our car insurer partners.
** Price for a basic third-party car insurance for a car under 1000 CC for 1 year policy, set by IRDAI (Excluding GST).
Yes. Magma offers EV-friendly coverage, including the Battery Secure Add-On, which protects EV and hybrid batteries against risks like power surges, water ingression, and short circuits.
Yes. Magma provides access to a 4,000+ cashless garage network across India for hassle-free vehicle repairs.
Absolutely. You can buy Magma car insurance online directly or via Coverfox, with instant policy issuance.
You can download your policy copy from the Magma customer portal or via the policy email sent after purchase.
Magma offers a No Claim Bonus (NCB) of up to 50% on the own-damage premium for consecutive claim-free years.
Yes. Roadside Assistance is available as an optional add-on, covering breakdown support, towing, and emergency help.
Yes. As per Indian law, third-party car insurance is mandatory for all vehicles, and Magma offers compliant plans.
If you miss the renewal date, your policy lapses, exposing you to legal penalties and loss of coverage. You may also lose your NCB.
IDV (Insured Declared Value) is calculated based on the car’s market value after depreciation, as per IRDAI guidelines.
Engine damage due to water ingress is covered only if you opt for the Engine Protection Add-On.
Yes. Magma car insurance can be transferred to the new owner during vehicle ownership transfer, subject to documentation.
Claim settlement timelines vary, but Magma aims for quick processing, especially for cashless claims, once documents are complete.
