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Magma HDI General Insurance

Magma HDI General Insurance Company is a joint venture between Magma Fincorp Ltd having a registered office in Kolkata and HDI Global SE from Germany.

Magma Fincorp has strong network penetration in rural India

Magma HDI General Insurance provides a comprehensive insurance option to private cars, two wheelers and commercial vehicles.

Interesting Facts of Magma HDI General Insurance

  • Magma Fincorp Ltd is one of India's premier and largest Non-banking financial company.
  • HDI Global SE Germany brand is part of Talanx group that provides insurance in around 150 countries.

Product Portfolio of Magma HDI General Insurance

Private Car Insurance Package

The policy offers a comprehensive protection along with mandatory third party coverage requirement as per India Motor Vehicles Act, 1988. The cover includes protection against natural and man-made calamities. Furthermore, the insurance policy coverage can be enhanced for extra premium with add-on covers such as personal accident, additional legal liabilities, bifuel-kit, return to invoice, key replacement cover, engine protection, loss of personal belonging, NCB protection, and basic road side assistance.

Two Wheeler Insurance Package

The two wheeler insurance package helps to safeguard your prized two wheeler against financial loss from natural and man-made calamities. The policy comes with mandatory third party liability cover. The protection can be enhanced by adding Personal accident cover an optional add on cover for an extra premium.

Other Offering under Motor Insurance

  • Motor Act Only Policy
  • Commercial Insurance comprehensive package
  • Motor Trade Internal Risk Insurance
  • Tractor Package

Health Insurance

There are two health plans offering by Magma HDI General Insurance i.e. One Health and Individual Personal Accident Policy.

One Health Plan

Magma HDI general insurance offers a comprehensive health plan to protect you and your family. The one health plan is designed to cover all the health care needs under one plan. The plan comes with four variants of different sum assured to support the individual health insurance needs for present and future. The plan’s protection can be further enhanced with optional covers for creating a cover as per one’s needs. The plan is available for 1, 2 or 3 year tenure. Discount is available on single premium payment for 2nd and 3rd year. The plan also has Ayush cover for non-allopathy treatments like Ayurveda.

One Health Plan VariantSum Insured options
Support2 lacs / 3 lacs / 4 lacs / 5 lacs
Support Plus2 lacs / 3 lacs / 4 lacs / 5 lacs
Shield5 lacs / 7.5 lacs / 10 lacs / 15 lacs
Premium20 lacs / 30 lacs / 40 lacs / 50 lacs

Additional Covers option available for extra premium under One health plan

  • Critical Illness cover
  • Personal accident cover

Eligibility

  • This policy can be taken by individual covering a single person or Family Floater basis covering maximum up to 4 adults and up to 3 children. Family includes self, spouse, dependent children, dependent parent(s), dependent parents-in-law, son-in-law, daughter-in-law, dependent grandchildren.
  • For individual policy minimum entry age is 5 years, for family floater it is 91 days.
  • Policyholder should be 18 years or above.
  • Maximum entry age is 65 years.

Individual Personal Accident Policy

Magma Individual Personal accident policy provides you a financial shield against the risks of unforeseen accidents. The policy has three variants basic, wider and comprehensive.

BasicPlan
BasicWiderComprehensive
Accidental DeathYesYesYes
Permanent Total DisablementNoNoYes
Permanent Partial DisablementNoNoYes
Temporary Total DisablementNoNoYes

Additional Optional covers can be added to the base plan for enhanced protection.

  • Medical Expenses Extension
  • Hospital Confinement Allowance

Claim Process of Magma HDI General Insurance

Motor Insurance Claim

  • Inform MHDI along with policy, driver and place of accident details.
  • Inform MHDI name and address of the garage where the vehicle will be sent for repairs.
  • Do not leave the vehicle unattended at the spot of the accident.
  • Lodge FIR at local police station immediately in case of theft.
  • It is recommended to send the vehicle to MHDI network workshop for repairs.
  • Do not proceed with the repairs before the surveyor's inspection.
  • Proceed with the repairs after inspection and inform MHDI for post repair inspection.
  • Submit all original documents of repairs to the surveyor nearest branch office.
  • The claim will be settled within 7 days of the receiving complete documentation and receipt of answers to the queries raised.

Health Insurance Claim

  • Download Claim Form from the company website

    • Claim form part A
    • Claim form part B
    • Fitness Rewards claim form
  • Intimate a claim on 1800 30023202

  • Track your claim online from the website. You will require policy number and password to log in the portal
  • Healthcare @ Home Call + 91 7097397072

Document to be submitted for Individual Personal Accident Policy

  • Claims Document
  • Claim form
  • Doctor's report, bills in case of temporary/permanent disablement.
  • Police report/post mortem report in case of accidental death.
  • Leave certificate from employer in case of temporary disablement.
  • Any other relevant document which may defer from case to case.

Magma HDI general insurance is a robust joint venture between two strong players in the financial sector. It has a strong rural presence in India and offers a range of non-life insurance products. Its auto insurance segment plans are simple to understand and offers good comprehensive cover for both private and commercial vehicles.

Contact Details of Magma HDI General Insurance

Registered Office address:

24, Park Street,

Kolkata, Pincode – 700016

Head Office address:

Rustomjee Aspire, 4th Floor,

Off Eastern Express Highway,

Imax Dome Theatre Road,

Sion East, Mumbai – 400 022

Toll Free Number: 1800 3002 3202

Email id: customercare@magma-hdi.co.in

FAQs on Magma HDI General Insurance

What are the documents required at the time of motor insurance claim?

The document list may defer from case to case but the main documents required are listed below:

  • Copy of claim intimation given to insurer with photo copy of policy and premium receipt
  • Completely filled Claim Form
  • Driving License
  • Registration Certificate of Vehicle
  • Estimate of repairs from repairer and stamped receipt
  • Bills and Cash Memo of repairs
  • verification of road tax
  • Police Panchanama/FIR
  • Permit and Fitness Certificate and any other documents deemed fit for the situation.

Why do I need Insurance?

Insurance is a hedge against the occurrence of any unexpected incidents. Having Insurance shields you against the risks that may put a financial burden on you and your business.

What are the exclusions under a private car insurance package policy?

For full details on exclusions always read the policy document carefully. Below are some of the common exclusions for which your claim may get rejected:

  • Damage or loss caused due to Driver being under intoxication
  • Vehicle being driven by a person not holding an effective valid license
  • Wear and tear from everyday usage of vehicle
  • Mechanical breakdown.
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