Magma HDI General Insurance

Magma HDI motor insurance covers private cars, two-wheelers and commercial vehicles against accident damage, theft, natural disasters and man-made calamities. Driver and passenger protection comes built into the comprehensive plans. You can buy third-party only, standalone own-damage, or full comprehensive cover.

Add-ons available include Roadside Assistance, Zero Depreciation, Engine Protection and Tyre Protection. These are particularly relevant for newer cars where the gap between repair cost and standard insurance payout can be significant. The cashless garage network of 4,000+ workshops covers most major cities and a wide range of Tier 2 and Tier 3 towns.

Magma HDI health insurance covers medical bills, illness and injury treatment costs, and financial assistance during medical emergencies. Cashless hospitalisation is available at 4,500+ network hospitals across India.

Plan types include Individual Health Insurance, Individual Personal Accident Cover, Loan Guard Insurance (for outstanding loan protection in case of death or disability), Group Health Insurance for employers, and Group Accident Suraksha for group personal accident cover. Additional features include preventive health check-ups, wellness programmes and Out-Patient (OPD) cover on select variants.

Magma HDI's liability portfolio covers injuries, property damage and legal costs arising from third-party claims. Variants include Public Liability Industrial Insurance for manufacturing and industrial setups, Public Liability (Non-Industrial) Insurance for retail and service businesses, Product Liability Cover for manufacturers, and Commercial General Liability Insurance for broader exposure.

The standalone Cyber Insurance Policy covers data breaches, malware attacks and identity-theft risks. For businesses handling customer payment data or personal records, this is no longer a nice-to-have — it's catching up to where Property and Public Liability sat a decade ago.

Marine insurance covers goods in transit by sea, air and other modes against partial and complete damage from unforeseen events. Magma HDI offers Marine Cargo Open Insurance for ongoing shipments under a single policy, and Marine Cargo Specific Voyage Insurance for single-shipment cover.

Importers, exporters and logistics-heavy businesses use marine insurance to protect goods against transit damage, theft, fire and natural calamities. The open policy is usually more economical for businesses with regular shipment patterns.

Magma HDI's miscellaneous insurance range includes Burglary Insurance for premises against theft and robbery, the Householders Package Policy for home structure and contents bundled with personal accident, All Risk Insurance for valuable items like jewellery and electronics, and the Shopkeepers Package Policy for retail outlet protection.

On the commercial side, Fire Insurance covers property against fire, lightning, explosion and select named perils, while Engineering Insurance covers civil works, machinery breakdown and contractor's all-risk exposures. For most SMEs in India, the Shopkeepers Package combined with Public Liability gives a reasonable risk-protection baseline.