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Magma HDI Zero Depreciation Car Insurance
Magma HDI Zero Depreciation Car Insurance is an add-on cover that ensures you get the full claim amount without any deduction for depreciation on car parts. Normally, during repairs, insurers deduct the cost of depreciation on replaced parts like plastic, rubber, fibre, and metal. But with the Zero Dep add-on, Magma HDI pays the complete repair cost (as per policy terms), giving you maximum claim benefits.
This cover is especially useful for new cars, luxury cars, or vehicles frequently driven in busy areas. It reduces out-of-pocket expenses during claims and provides stronger financial protection after accidents or damages.
Benefits of Magma HDI Zero Depreciation Cover
Here are the benefits of Magma HDI NIL Depreciation Cover:
- 01
Higher Claim Value
You receive the maximum claim amount without depreciation deductions.
- 02
Lower Repair Costs
Most repair and replacement costs are covered, reducing your expenses.
- 03
Best for New Cars
Ideal for new and expensive vehicles where part costs are high.
- 04
Better Financial Protection
Helps avoid unexpected repair bills after an accident.
- 05
Peace of Mind
Ensures your wallet stays protected even if costly parts need replacement.
Motor Insurance Plans By Magma HDI
Inclusions and Exclusions of Magma HDI Zero Depreciation Cover
What it Covers
This add-on ensures no depreciation deduction on most car parts during a claim. It includes:
Full claim payout for replaced parts without depreciation cuts
Coverage for fibre, rubber, metal, and plastic parts
Higher claim amount for accidental repairs
Applicable for repairs at authorised or network garages
Reduced out-of-pocket expenses for part replacement
What Does it not Cover
This cover does not apply in certain situations:
Mechanical or electrical breakdowns
Wear and tear from daily use
Damage caused while driving under alcohol/drugs
Driving without a valid licence
Engine damage not related to an accident (without the Engine Protect add-on)
Claims beyond the allowed limit of Zero Dep claims per year (as per policy terms)
Damage due to illegal use or racing activities
How to Buy Magma HDI Zero Depreciation Car Insurance?
Here are the steps to buy Magma HDI Zero Depreciation car insurance:Step 1
Visit the official Magma HDI Insurance website.
Step 2
Go to the Motor Insurance section and select Car Insurance.
Step 3
Enter your car details, including registration number, make, model, variant, and contact information.
Step 4
Choose a Comprehensive Car Insurance plan.
Step 5
Select the Zero Depreciation add-on (Nil Dep or Bumper-to-Bumper).
Step 6
Review the updated premium and policy details.
Step 7
Make the payment online using your preferred method.
Step 8
Receive your e-policy at your registered email.
FAQs
It is an add-on that lets you get the full claim amount without any deduction for part depreciation.
No, you can only add Zero Dep to a Comprehensive or Own Damage policy.
It is best for new cars, expensive cars, or cars driven in busy areas where the chances of damage are higher.
No. It covers part depreciation during accidental repairs, but mechanical breakdowns or wear and tear are not included.
Yes, the premium increases slightly because you get a higher claim amount.
Most policies have a limit on zero-dep claims per year. Check your policy wording for the exact number.