These 2 new car insurance add-ons could cut your out-of-pocket expenses
Source: Business Standard
Are you still paying out-of-pocket despite having insurance? Private insurer Magma HDI has introduced two new add-ons to its motor insurance policy that could help reduce these unexpected costs. Announced on Wednesday, the new offerings include the ‘Zero Excess Add-On’ and the ‘Car Spa Add-On.’
What do these add-ons offer?
The ‘Zero Excess Add-On’ waives the compulsory deductible under the motor insurance policy, which means vehicle owners can avoid paying the usual deductible for up to two claims within a policy period. This add-on is aimed at reducing the financial strain many face after accidents, helping policyholders avoid out-of-pocket expenses.
The ‘Car Spa Add-On’ takes care of the costs associated with cleaning, vacuuming, and washing your vehicle at authorised service centres. This option ensures that your vehicle remains well-maintained after an accident or just general wear and tear.
“With these add-ons, policyholders can drive away with a new-like car after a claim, without the burden of additional costs,” said Amit Bhandari, chief technical officer at Magma HDI.
What else is Magma HDI offering?
Along with these new additions, Magma HDI has also rolled out two more add-ons in recent months. These include:
Additional towing add-on: With this your vehicle will be towed from the accident site to the nearest authorised repairer without any extra charges, providing peace of mind and preventing customers from being stranded.
Battery secure add-on: This policy is for owners of electric and hybrid vehicles. The add-on covers costs incurred in the repair or replacement of batteries due to issues like power surges while charging or damage caused by water ingress or short circuits.
First Published: Sep 11 2024 | 6:23 PM IST
