Nissan Magnite Car Insurance

Buy car insurance policy for your Nissan Magnite car online. Check Nissan Magnite insurance plans, coverage details, and steps to buy online.
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Buy/Renew Nissan Magnite Insurance
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3 min
27-April-2024

A compact SUV from Nissan Motors, Nissan Magnite has gained popularity due to its stylish design, efficient space utilisation, and advanced technology features. For financial protection against accidents, theft, and damage, car insurance is essential for Nissan Magnite owners. It ensures coverage for repairs, replacements, and liability in case of unforeseen events, offering peace of mind and legal compliance.

Nissan Magnite car models and insurance price

For an estimated third-party premium cost on your Nissan Magnite car insurance, consult the table below:

Nissan Magnite Variant

Third-Party Premium Rates (FY 23-24)

 

Nissan Magnite XE

Rs. 2,094*

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Nissan Magnite XL

Rs. 2,094*

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Nissan Magnite XV

Rs. 2,094*

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Nissan Magnite XV DT

Rs. 2,094*

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Nissan Magnite Turbo XL

Rs. 2,094*

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Disclaimer: The above information is for Third-party premiums only. The Own Damage premium rates will depend on the specific model, variant, fuel type, place, the year of registration, IDV, add-on covers and various other factors.

Key inclusions of car insurance

Car insurance typically comes with several key inclusions that provide comprehensive protection under various circumstances. Here's a detailed explanation of each:

Accidents:

  • Covers damage to the vehicle resulting from collisions, regardless of who is at fault.
  • Includes repair costs for the car and, in comprehensive plans, may also cover replacement of parts.
  • Helps mitigate financial setbacks that come with sudden repair needs after an accident.

Thefts:

  • Provides financial compensation in case the vehicle is stolen.
  • Ensures that the owner can recover the vehicle’s current market value, minus any applicable deductibles.
  • Important in regions with high rates of vehicle theft, offering peace of mind to vehicle owners.

Natural calamities:

  • Protects against damages from natural disasters such as floods, earthquakes, hurricanes, and more.
  • Essential for owners living in areas prone to severe weather conditions and environmental hazards.
  • Reduces financial burden by covering costly repairs or total loss caused by uncontrollable natural events.

Personal accidents:

  • Offers coverage for medical expenses, disability, or death of the vehicle’s driver in an accident.
  • Frequently includes a predetermined sum for the insured party, which can support rehabilitation or act as financial aid to the family in fatal cases.
  • Enhances the personal safety net of the driver, making it a crucial aspect of car insurance.

Third-party liabilities:

  • Covers damages or injuries the insured vehicle causes to another person or their property.
  • Legally mandatory in many regions, ensuring that the vehicle owner can meet financial liabilities without undue hardship.
  • Protects the insured from significant financial and legal repercussions in the event of accidents involving third parties.

Key exclusions of car insurance

Some of the key exclusions of car insurance policies are:

  • Normal wear and tear and depreciation: Insurance policies do not cover the routine deterioration of a vehicle over time or the loss in value (depreciation) due to usage and age. This exclusion acknowledges that regular maintenance and potential value decreases are the owner's responsibility.
  • Mechanical or electrical breakdown: Any damage arising from the failure of mechanical or electrical components is not covered under standard car insurance. This is because such issues are considered maintenance-related, which are expected to be managed through regular vehicle servicing, not insurance claims.
  • Driving under the influence of drugs or alcohol: Damages resulting from accidents occurring while the driver is under the influence of drugs or alcohol are not covered. This serves as a deterrent against irresponsible driving behaviour and aligns with legal regulations.
  • Driving without a valid driving licence: If an accident occurs while the driver does not have a valid driving licence, the damages will not be covered. This provision enforces the law that requires all drivers to be duly licensed as a basic legal requirement.
  • Geographical limits: If the vehicle sustains damage outside the geographical boundaries specified in the policy, those damages will not be covered. Insurance policies typically define a territorial limit within which the coverage is applicable to manage risk and define clear operational boundaries.

Car insurance add-ons you can consider

Car insurance add-ons enhance the protection offered by a standard policy. Here are some valuable add-ons to consider:

  • Zero Depreciation Cover: This add-on ensures that you receive the full claim amount without any depreciation deduction, making it especially beneficial for new cars.
  • Engine protection cover: Covers damage to the engine due to water ingress or oil leakage, which are not covered under a standard policy. Ideal for vehicles in flood-prone areas.
  • Roadside assistance: Provides support like towing, flat tyre change, and emergency fuel delivery if your car breaks down on the road.
  • Return to invoice: If your car is totalled or stolen, this cover ensures you receive the full invoice price of the car, rather than the depreciated value.
  • Personal accident Cover: Offers compensation in the event of death or permanent disabilities resulting from a car accident.
  • No-Claim bonus protection: Allows you to file a certain number of claims without affecting the no-claim bonus, preserving your discount even after making a claim.
  • Consumables cover: Takes care of the costs of consumables like engine oil, nuts, and bolts during repairs that are not usually covered under a standard policy.
  • Key replacement cover: Reimburses the cost of replacing your car keys if they are lost or stolen.
  • Invoice price cover: Similar to Return to Invoice, this add-on ensures compensation up to the invoice price of the car, providing full financial protection in case of total loss or theft.

How to buy/renew Nissan Magnite car insurance through Bajaj Finance Insurance Mall

Bajaj Finance Insurance Mall offers a convenient platform for you to buy or renew car insurance plans for your Nissan Magnite. Choose from plans offered by leading insurance partners and buy the policy in just a few clicks. Here’s how:

Step 1

Click on 'Get Quote' to open the online application form.

Step 2

Enter the vehicle type, car registration number, mobile number, and residential PIN code. Check the terms and conditions and click on the 'Get Quote' button below.

Step 3

Choose the IDV, NCB value, add-on covers, and plan type to get a list of relevant car insurance policies. You need to update your current policy expiry date here.

Step 4

Click on the ‘Buy Now’ button. You will need to add owner-driver personal accident cover mandated by the RTO. Click on ‘Next’ to proceed.

Step 5

Confirm the vehicle registration date and the previous policy type (comprehensive/third-party). Click on 'Proceed'.

Step 6

Enter the vehicle owner's name, date of birth, residential address, and contact number. Also, enter the vehicle engine and chassis number (as mentioned in RC) and previous policy details.

Step 7

Recheck your previously filled details and make the payment through your preferred online payment mode. You can use net banking, UPI, or credit/debit card to complete the application process.

Step 8

That’s it. You have successfully secured your Nissan Magnite with a car insurance policy.

Car insurance claim process

Cashless claim process:

  • Notification: Inform your insurer about the incident through phone, website, or app.
  • Documentation: Provide relevant details to the authorities and capture photos of damages for documentation purposes.
  • Garage visit: Take your car to a network garage for assessment by a surveyor appointed by your insurer.
  • Assessment: The surveyor evaluates the damages and prepares a report to submit to the insurer.
  • Approval: Upon approval from the insurer, the network garage proceeds with the repairs.
  • Direct settlement: The insurer settles the repair bills directly with the garage, eliminating the need for upfront payment.

Reimbursement claim process:

  • Inform your insurer and register your claim.
  • Choose a garage for repairs and have a surveyor assess damages.
  • Pay for repairs and submit original bills and claim form to your insurer.
  • Your insurer reviews and reimburses your repair costs.

Documents required in the claims process

Here is the list of documents you may need while filing a claim for your car insurance policy:

  • Copy of the registration certificate (RC) of your vehicle
  • Copy of your driving licence
  • Policy document
  • Description of the incident and photographs of the vehicle (if possible)
  • First Information Report (FIR) in case of theft, injuries to any third party or damage to their property
  • The original keys to the vehicle
  • RTO transfer papers duly signed with Form 28, Form 29 and Form 30
  • No Trace Report from the police in cases of theft of the vehicle
  • The original bills for the repairs of the car to claim the four-wheeler insurance policy

Note: Check with your insurer in case you require more documents depending on the nature of the claim.

Frequently asked questions

What factors affect the Nissan Magnite car insurance premium amount?
The insurance premium for the Nissan Magnite is influenced by several factors including the car’s model and variant, the age of the vehicle, geographical location, the driver's claim history, and selected deductibles. Additional add-ons like zero depreciation or engine cover also impact the premium, as well as the no-claim bonus status of the policyholder.
How can I reduce my Nissan Magnite insurance premium?
To reduce your Nissan Magnite insurance cost, consider increasing your deductible, maintaining a clean driving record, and availing of no-claim bonuses. Additionally, installing safety devices in your vehicle can lower premiums. Finally, compare insurance quotes from different providers to ensure you're getting the best rate for the coverage you need.
Will the insurer inspect my Nissan Magnite car before renewal?

Whether your insurer conducts an inspection before renewal depends on their policies, your claim history, and the age of your car. While some may require an inspection, others offer hassle-free renewals.

Disclaimer

*T&C Apply - Bajaj Finance Limited (‘BFL’) is a registered corporate agent of third party insurance products of Bajaj Allianz Life Insurance Company Limited, HDFC Life Insurance Company Limited, Future Generali Life Insurance Company Limited, Bajaj Allianz General Insurance Company Limited, SBI General Insurance Company Limited, ACKO General Insurance Limited, ICICI Lombard General Insurance Company Limited, HDFC ERGO General Insurance Company Limited, Tata AIG General Insurance Company Limited, The New India Assurance Company Limited, Cholamandalam MS General Insurance Company Limited, Niva Bupa Health Insurance Company Limited , Aditya Birla Health Insurance Company Limited, Manipal Cigna Health Insurance Company Limited and Care Health Insurance Company Limited under the IRDAI composite CA registration number CA0101. Please note that, BFL does not underwrite the risk or act as an insurer. Your purchase of an insurance product is purely on a voluntary basis after your exercise of an independent due diligence on the suitability, viability of any insurance product. Any decision to purchase insurance product is solely at your own risk and responsibility and BFL shall not be liable for any loss or damage that any person may suffer, whether directly or indirectly. Please refer insurer's website for Policy Wordings. For more details on risk factors, terms and conditions and exclusions please read the product sales brochure carefully before concluding a sale. Tax benefits applicable if any, will be as per the prevailing tax laws. Tax laws are subject to change. Tax laws are subject to change. BFL does NOT provide Tax/Investment advisory services. Please consult your advisors before proceeding to purchase an insurance product. Visitors are hereby informed that their information submitted on the website may also be shared with insurers. BFL is also a distributor of other third party products from Assistance Services providers such as CPP Assistance Services Pvt. Ltd., Bajaj Finserv Health Ltd. etc. All product information such as premium, benefits, exclusions, sum insured, value added services, etc. are authentic and solely based on the information received from the respective insurance company or the respective Assistance service provider company.

Note – While we have made all efforts and taken utmost care in gathering precise information about the products, features, benefits, etc. However, BFL cannot be held liable for any direct or indirect damage/loss. We request our customers to conduct their research about these products and refer to the respective product’s sales brochures before concluding their sale.

Premium indicated is exclusive of taxes for third party coverage of four-wheeler up to 1,500 CC. Premium may vary based on the specification of the vehicle.