Magma Zero Depreciation Add-on

Every commodity loses monetary value over its age due to regular wear and tear. This process of devaluation is known as depreciation. Your car, also being a commodity, is subjected to depreciation and loses value over time. As a result, you receive a lesser claim amount during claim settlement because of the fact that your insurer factors the depreciation cost from the sanctioned claim amount.

However, availing the Magma HDI Zero Depreciation add-on cover along with the comprehensive car insurance policy or the standalone own-damage car insurance will allow you to do away with the burden of bearing the liability of depreciation.

Benefits Of Magma HDI Zero Depreciation Insurance

Less Liability For The Insured: The Magma HDI Zero Depreciation add-on cover reduces the liability of the policyholder. It waives off the liability of paying the cost of depreciation and makes the insurer liable to bear the same. This allows the insured to enjoy higher claim amounts.

Conditions of Magma HDI Zero Depreciation Add-on Cover

• Claim with zero depreciation benefits are not applicable for theft, CTL and TL of the insured vehicle.
• The benefit is only rendered if the damaged vehicle is repaired at the company authorised workshop.