Stand-Alone Own Damage Policy for Private Car


Stand Alone OD Private Car

Your car is an expensive asset and you need a reliable partner to fall back should there be any untoward incident. Magma HDI's Standalone OD private Car insurance policy covers damage to your car arising out of an accident.

Additional Covers

Going for additional covers for your favorite vehicle will not cost much, but will deliver a great value.

private car insurance plans
Bi-Fuel Kit

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private car insurance policy
Electrical and Non electrical accessories

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Bi-fuel kit

The CNG-LPG bi-fuel kit can also be covered by paying an additional premium

Electrical and Non electrical accessories

All the prescribed electrical accessories eg: Speaker, LED lights and more can be covered by paying additional premium

Available Discounts

No Claim Bonus
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AAI Membership
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Anti-Theft Devices
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No-claims bonus

If you do not make a claim during the policy period, a No-claims bonus (NCB) is offered at the time of renewal. This discount can go as high as 50% (NCB will only be allowed provided the policy is renewed within 90 days of the expiry date of the previous policy).

Transfer of NCB: You can also transfer full benefits of No-claims bonus when you shift your Motor Insurance Policy from another company.

AAI Membership

You can avail additional discount, if you are a member of the Automobile Association of India (AAI), which is registered with IRDAI.

Anti-theft devices

If you have installed anti-theft devices approved by the Automotive Research Association of India (ARAI) in your car, you can avail 2.5% discount (or up to Rs 500) on your own-damage (OD) Premium.

  • Loss or damage to the vehicle

    The policy also provides cover against any damage to or loss of your vehicle or its accessories due to the following natural and man-made calamities:

  • Natural calamities

    Fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide and rockslide.

  • Man-made calamities

    Burglary, theft, riot, strike, malicious act, accident by external means, terrorist activity and any damage in transit by road, rail, air, inland waterway, lift or elevator.

While we make every effort to give you the best possible services, any loss of or damage to your car and/or its accessories will be not be covered if caused by any of the following:
  • Normal wear and tear as well as general ageing of the car
  • Depreciation or any consequential loss
  • Mechanical/electrical breakdown
  • The car being used otherwise than in accordance with limitations as to use
  • Damage by driving under the influence of drugs or liquor
  • Loss/damage due to war, mutiny or nuclear risk
  • Use of the vehicle in violation of the Limitation as to use clause, mentioned in the policy.
Sum Insured

For your convenience, we ensure that your vehicle is insured at a fixed value called the Insured's Declared Value (IDV). The IDV is calculated on the basis of the manufacturer's listed selling price of the vehicle (plus the listed price of any accessories) after deducting the depreciation for every year.

Here is a table that will help you calculate the depreciation:


Depreciation for vehicle

Not exceeding 6 months


Depreciation for vehicle

Exceeding 6 months but not exceeding 1 year


Depreciation for vehicle

Exceeding 1 year but not exceeding 2 years


Depreciation for vehicle

Exceeding 2 years but not exceeding 3 years


Depreciation for vehicle

Exceeding 3 years but not exceeding 4 years


Depreciation for vehicle

Exceeding 4 years but not exceeding 5 years



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