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These 2 new car insurance add-ons could lower your deductible | Personal Finance

These 2 new car insurance add-ons could lower your deductible | Personal Finance

Are you still paying out of pocket despite having insurance? Private insurer Magma HDI has introduced two new add-ons for its car insurance that can help reduce these unexpected costs. The new offers announced on Wednesday include the “Zero Excess Add-On” and “Car Spa Add-On” additional services.


What do these add-ons offer?

The “Zero Excess Add-On” waives the mandatory excess in car insurance, allowing vehicle owners to avoid the usual excess in up to two claims within one insurance period. This add-on is intended to reduce the financial burden many people face after accidents and help policyholders avoid spending out of their own pocket.

The Car Spa Add-On covers the cost of cleaning, vacuuming and washing your vehicle at authorized service centers. This option ensures that your vehicle remains in good condition after an accident or just due to general wear and tear.

“With these additional services, policyholders can drive away with a new car after a claim without incurring additional costs,” said Amit Bhandari, technical director at Magma HDI.


What else does Magma HDI offer?

In addition to these new additions, Magma HDI has also released two more add-ons in recent months. These include:


Additional towing option: This means that your vehicle will be towed from the scene of the accident to the nearest authorized repair shop at no additional cost. This gives you peace of mind and avoids your vehicle breaking down.


Battery-safe add-on: This policy is aimed at owners of electric and hybrid vehicles. The add-on covers costs incurred in repairing or replacing batteries due to problems such as voltage spikes during charging or damage caused by water ingress or short circuits.

First published: September 11, 2024 | 6:23 p.m. IS

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