Magma HDI Private Car Package Policy

Under this Add-on, the company pays the full claim without any deduction for depreciation in the event of an accident. (Excludes Tyres and Batteries)

Under this Add-on, the company ensures that upon a theft or a total loss to the car, the insured gets the purchase price of the car including road tax, registration charges and custom duty if any.

Under this Add-on, the Company agrees to pay for losses arising out of repair or replacement of engine parts of the Insured vehicle due to ingression of water in the engine and/or leakage of lubricating oil from the engine/assembly arising out of accidental damage.

Inclusion:

1. Repair or replacement of the internal child-parts of the engine such as Cylinder head, Crankshaft, Connecting rods and Piston.
2. Repair or replacement of internal parts of the Gearbox housing, such as gears and shafts.
3. Labour charges required to carry out the repair or replacement of the damaged child-parts of the Engine or damaged gearbox.

Special Conditions applicable:

1. Only one event in the entire policy period will be compensated.
2. There is evidence, that the vehicle had stalled and stopped in the water-logged area, resulting into damage to the internal child-parts of the engine, OR
3. There is evidence of under-carriage damage, resulting into leakage of lubricant causing damage to the internal child parts of the engine or gearbox, AND
4. The losses or damages are not otherwise admissible under Motor Insurance Policy.

For the purpose of this Endorsement, it is an implied condition that

1. The Insured shall avoid driving through water-logged areas.
2. In the event that the vehicle has stalled or stopped in water-logged area, OR there is damage to under-carriage of the vehicle, the Insured shall not try to crank or push-start the engine.
3. The Insured will inform the nearest office for technical help and spot-survey.
4. The Insured shall take reasonable care to protect against aggravation of damage or loss to the Insured vehicle.

Under this Add-on, the company will cover for:

a) The cost of replacing Insured vehicle keys in case of keys being lost or stolen.
b) The cost of replacing the vehicle keys, by a new set of lock & keys if the lock of the Insured vehicle being broken at the time of burglary or attempted burglary.

Special Conditions applicable:

a) In case of lost or stolen keys, all other duplicates of the lost or stolen keys are to be deposited with the Company.
b) In case the Insured vehicle lock is broken at the time of burglary or attempted burglary, the entire set of old keys are to be deposited with the company
c) The Company is provided with a copy of FIR lodged with Police by the Insured confirming the date and time of the incident
d) The replacement should be carried out in the Company’s Authorised Garage.
e) Each such replacement claim shall be subject to 10% co-share of the total cost of replacement - subject to a minimum of Rs. 500/- , by the Insured.
f) Any items replaced under this Endorsement, will be of the same type, quality, quantity, or standard as the ones which were lost, stolen or replaced.
g) The Reimbursement under this endorsement will be allowed only for one event during the policy period.

Under this Cover, the company will make an allowance to the Insured for loss of personal belonging of the Insured caused by perils as per the policy wordings.

Special Conditions applicable:

a) This Endorsement covers the personal belongings of the INSURED ONLY
b) Personal Belonging for the purpose of this Endorsement means, items such as clothes and other articles of personal nature likely to be worn by the Insured including jewelries, and/or used or carried by him like Mobile, Laptop, Tabs, Audio/Video tapes, CD's, but EXCLUDES money, securities, cheques, bank drafts, debit or credit cards, travel tickets, paintings, curios and items of similar nature.
c) Any claim under this Section is subject to the precondition that there is a valid own damage or Key replacement claim in respect of the insured vehicle, already admitted by the Company under the Policy. d) The Company is to be provided with a copy of FIR lodged with Police by the Insured, confirming the date and time of the incident and the articles lost.
e) The maximum amount payable under this Policy is Rs 50,000/- during the Policy period. Each claim is subject to a deductible of Rs 5000/- for Laptop, Tab and Jewelries, Rs 2500/- for Mobiles and Rs 500/- for the rest.

Under this Cover, the company would assign same No Claim percentage mentioned in the policy even if there is claim made during the policy period.

a) The Insured vehicle is renewed with company.
b) The rate of NCB allowed at the time of renewal will be same as that enjoyed by the insured prior to the loss, except in cases of Sunset Clause, where the rate of NCB will be brought down to 50%.
c) There was only one single claim lodged in the entire Policy period on the Motor Policy.
d) The insured vehicle is repaired in the Company’s Authorized Garage.

In the event, that the insured vehicle is immobilized on a public road due to any mechanical or electrical breakdown, the Company shall

a. Arrange for an automobile technician to attend to the insured vehicle on the spot of such breakdown to help mobilize the Insured vehicle on its own power.
b. Arrange for the towing of the insured vehicle to a nearest Repair shop/ Garage, if mobilization of the insured vehicle is not possible by carrying out such repairs on spot.
c. Provide for custody and storage of the insured vehicle until the Repair shops/Garages re-open, if the Repair shops/Garages are closed due to holidays or night hours.
d. Undertake to locate, procure and deliver spare parts required for repair to the Repair shop/ Garage within 72 (seventy two) hours, if such spare parts are not available with the Repair shop/ Garages, provided that the parts are available in the open market within the geographical limits of India.

In the event, that the insured vehicle is immobilized on a public road due to any accident covered by the Policy, the Company shall

a. Arrange for towing of the insured vehicle to the nearest Company's Authorized Repair shop/Garage.
b. Provide for custody and storage of the insured vehicle until the Repair shop/Garage re-open, if such Repair shop/Garage being closed due to holidays or night hours.

In the event, that the insured vehicle is immobilized on a public road, due to a flat tyre caused by puncture of or damage to the tyre /tube/valve or bolts of the tyre, the Company shall arrange for an automobile technician to attend to the insured vehicle on the spot of such event to replace the flat tyre with the spare tyre carried in the insured vehicle.

In the event, that the engine of the insured vehicle fails to start due to a dead battery, the Company shall arrange for an automobile technician to attend to the Insured vehicle on the spot of such event, to help jump start the vehicle so that it can be driven on its own power on self-propelled basis to the nearest Repair Shop/Garage.

In the event, that the insured vehicle is immobilized on a public road, due to loss of its keys, or its keys being either locked inside the vehicle or broken, resulting in a situation where the Insured is unable to gain entry into the insured vehicle, the Company shall

a. Locate and retrieve duplicate set of keys under due authorization of the Insured to do so, and deliver such keys to the Insured or his authorized representative upon production of personal identification and authorization.
b. Arrange for an automobile technician to attend to the insured vehicle on the spot of such event in order to attempt the opening of the vehicle door with normally available tools, if the Insured desires to attempt opening the vehicle, since retrieval of a duplicate set of keys would be time consuming,.

In the event that the insured vehicle is immobilized on a public road at least one kilometer away from the nearest petrol pump, due to the insured vehicle running out of fuel, or the fuel in the insured vehicle being incorrect or contaminated, or there is a air lock in the fuel system, the Company will

a. Arrange for delivery/ replacing/ changing the fuel - as the case may be, up to a maximum of ten liters- on the spot where the insured vehicle stands immobilized.
b. Arrange for bleeding of fuel line to dissipate the air lock.