MAGMA HDI THIRD PARTY CAR INSURANCE

About

Magma HDI general insurance company is a joint venture between Kolkata based company called Magma fin corp Limited and HDI Gerling Industrie Versicherung AG Germany. Mr. Rajive Kumaraswami is the Managing Director & CEO of Magma HDI General Insurance Company.

MAGMA HDI Third Party Car Insurance

In India, it is mandatory to have at least a third-party car insurance cover. A third-party insurance policy is the most basic and essential option which offers compensation in case of injury/death of a third party and third-party property damage up to the amount of 7.5 lakh. In short, Third-party car insurance provides protection against any damages, losses suffered by the third party in case of an accident.

Benefits of MAGMA HDI Third Party Car Insurance

The benefits of third party car insurance in Magma HDI are-

1)  Provides legal cover as well as financial Assistance

Magma HDI Third-party car insurance protects you from legal liability in the event of a third-party death or incapacity. Loss or damage to third-party property is also covered up to a maximum of 7.5 lakh. The owner-driver is protected and covered by third-party car insurance.

2) Easy and very simple process to take third party car insurance-

In India, Third-party car insurance policy premium rates depend upon the cubic capacity of your car. Based on the slabs of cubic capacity, the premium rates are decided.

3) Unlimited cover to the third party-

The third-party coverage is unrestricted or unavoidable in case of a car accident resulting in bodily injury or death. once the court has decided on the amount of compensation to the third party, the insurance company bears the cost.

What is covered under Magma HDI Third Party Car Insurance Policy?

Magma HDI Third-party car insurance provides legal liability in case of death or disability to any third person. It also provides coverage to any loss or damage to the third person's property. The coverages are:-

1) Property damage- In case your vehicle caused some damage to the property of the third party in an unfortunate accident, then you don't have to worry about the expense arising from the incident. Third-party car insurance ensures that the insurance company will pay for the damages up to 7.5 lacs to the third party.

2) Death- In some situations, if you are involved in an accident, which causes the death of a third party, then you are responsible for this unfortunate event. In such cases, you do not have to worry because your insurer takes care of this matter. In such situations, the claims are settled as per the court tribunals.

 3) Bodily injuries-  Medical coverage is offered for all types of bodily injuries, no matter how intense the injuries of a third party. Magma HDI insurance company understands that the events are caused unfortunately or unintentionally and these events cannot be controlled .hence insurers reduce the stress of the insured person by offering them a Compensation amount.

4) Unnamed passenger cover- AS an owner of a car, you are responsible to pay for injuries that may come to your passenger. The compensation for the passengers is RS50000, RS100000, RS200000 per person as per seating capacity.

5) Owner driver cover-

The owner-driver cover also known as personal accident cover is only for the owner-driver .it is up to amount 15 lakh.

6) Paid driver cover-Amt of Rs 50 has to be paid as an add-on for buying paid driver cover. in this cover, the insurer pays compensation to your driver in case of death or injury.

How to purchase Magma HDI Third Party Car Insurance Policy?

Step 1. Go to the online website of https://quickinsure.co.in/

Step 2. Click on car insurance

Step 3. Enter your REGISTRATION no. According to your RC

Step 4. You will find a quotation for car insurance from Magma HDI and other insurers.

Step 5. You can select the quotation of Magma HDI and fill out the proposal form.

Step 6. Once you verify your information, you click on the "pay now" icon and once the payment is made, you will receive the pdf of your policy on your mail ID.

Exclusions under Magma HDI Third Party Car Insurance

1) Damages caused to yourself and your vehicle during an accident.

2) Damages that cost more than RS.750000 lakh are also not included in this agreement.

3) Third-party car insurance also does not provide any compensation if there is a drink and drive case and the vehicle was used for any commercial purpose or illegal activities

4) If the driver was found driving under influence of a drug or also, then it also does not cover

Magma HDI Third Party Car Insurance Premium Slabs

Description of vehicle	Proposed Rates (FY 2021-22) Rs.
Private cars with engine capacity
Not exceeding 1000 cc	2,072
Exceeding 1000 cc but not exceeding 1500 cc	3,221
Exceeding 1500 cc	7,890

 

FAQs

1. What is the basic meaning of third-party car insurance of Magma HDI?

 Insurance in which policy is purchased by the insured, from the insurance company, for protection from the claims of another (third party)

2)How can I buy Magma HDI third-party car insurance?

Visit https://quickinsure.co.in

3) What is an easy mode for buying third-party car insurance in Magma HDI?

The online method is the most common use mode of buying third-party car insurance.You can buy the Magma HDI  third party car insurance through quickinsure insurance  brokers Pvt Ltd. https://quickinsure.co.in/

4) Who owns Magma HDI  insurance?

Magma HDI general insurance company is a joint venture between Kolkata based company called Magma fin corp Limited and HDI Gerling Industrie Versicherung AG Germany Founded in