Magma HDI Motors General Insurance Policies provides comprehensive auto insurance under the name Magma HDI Car Insurance. Private Car Insurance, Commercial Vehicle Insurance, the Motor Tractor Package, the Motor Act Only Policy, the Motor Trade Policy, and the Motor Trade Internal Risk Policy are all offered by the insurer. In addition, windshield or automobile glass coverage, accident coverage for a hired driver or unidentified passenger, depreciation waiver, and personal property damage/theft coverage are additional advantages that can be added to the car package.
A joint venture between HDI Global SE and Magma Fincorp Limited is known as Magma HDI. The insurer operates 310 locations in 22 different Indian states.
The bulk of the shares in the company is held by Sanoti Properties LLP, a member of Adar Poonawalla's Rising Sun Group. Celica Developers Private Limited, HDI Global SE, and Jaguar Advisory Services Private Limited are further significant owners.
They have solutions to secure all significant risks in the general insurance arena, with over 65 products spanning several categories. From retail products like Motor, Health, Personal Accident, and Home to commercial products like Fire, Engineering, Liability, and Marine, their extensive range of covers and high-quality and agile service delivery have been the pillars of their foundation.