Bike insurance starting from Rs.482/year*
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*TP price for less than 75cc two wheeler. All savings/offers are provided by the Insurers which are subject to modification. Terms and conditions apply

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Magma HDI Bike Insurance

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Highlights
    Network Garages4,000+
    Claim Settlement Ratio79.60% in FY20
    Policies Issued (FY-19)16 Lakh+
    Zero DepreciationAvailable
    AccreditationCRISIL A1+ Rating
    Emergency Assistance24/7
    Third Party CoverAvailable

    About Magma HDI General Insurance Company

    Magma HDI General Insurance Company Ltd was formed as a joint venture between Magma Fincorp Ltd and HDI-Gerling Versicherung AG Germany to cater to the financial needs of the people in India. The company has gained popularity over time and has been listed as one of India’s premier and leading non-banking financial companies (NBFCs). It functions with the mission to understand the bike insurance and other insurance needs of the consumers and translate it into affordable products that deliver value for money. It strives to understand the insurance needs of the semi-urban and rural population of India. It extends its bike insurance and other related services to the distributors and retailers as well.

    The range of products and services of Magma HDI General Insurance Company extends from liability, bike, car, accident, fire, and property insurance to marine, unique lines and engineering covers. Magma HDI General Insurance Company delivers its quality products such as bike insurance, property insurance, car insurance and so on, at competitive as well as affordable rates to align with its values of transparency, integrity, fairness, and impartiality, trust and respect for people, and to demand excellence.

    In this short time, Magma HDI General Insurance Company reached out to a wide range of customers through more than 135 offices all over India. It has settled claims of bike insurance, car insurance, fire insurance, etc, which equals 1.24 lakhs to date and has policies valuing 24.68 lakhs issued to date. It is working with the vision to be the most preferred, vibrant, and responsible general insurance company and strive to provide quality service at affordable rates for bike insurance and various related products.

    Magma HDI Bike Insurance

    Magma HDI is a general insurance company started as a joint venture in 2009. Since its establishment, it has become an increasingly popular insurance provider in India. For two-wheelers, Magma HDI offers three types of insurance covers; third party insurance, standalone own damage insurance and comprehensive insurance. It is obligatory for every two-wheeler to have at least a third party insurance, if caught without it you can be punished. The fine for not having third party insurance is Rs 2,000 and/or imprisonment for up to 3 months. When you purchase this policy the insurance provider will take care of third party liabilities in case of a mishap including bodily injuries, death and property damage. If you want to get coverage for own-damage costs you can purchase a standalone own-damage cover. This will cover the two-wheeler in case of theft, road accidents, vandalism, natural and manmade disasters. The third type of insurance coverage is the comprehensive insurance cover, this will take care of third party liabilities and own-damage costs under a single premium and is the most hassle-free option of the three.

    Moreover, you can also purchase add-on covers. These will further enhance the coverage of the two-wheeler insurance and cover aspects that are otherwise excluded under general two-wheeler insurance. These covers are optional and allow you to pick and choose according to your specifications. The right combination of add-on covers can make a significant difference to your claim amount in case of a mishap. The zero depreciation cover, the passenger assistance cover, the engine protection cover, the tyre protect cover and the consumables cover are some of the add-ons covers that you should definitely check out when purchasing two-wheeler insurance.

    Significant Points of Magma HDI Bike Insurance

    Features

    Coverage

    Property Damage under Third Party Insurance

    Maximum Compensation Rs 1 Lakh

    Own Damage Cover

    Depends on the IDV of the Two-Wheeler

    Personal Accident Cover

    Up to Rs 15 Lakh

    Claim Assistance

    24x7 Helpline Available

    Calculate Your Bike Insurance

    Select your bike's brand
    • Hero
    • Honda
    • TVS
    • Bajaj
    • Yamaha
    Which city is your bike registered in?
    • Ahmedabad
    • Bangalore
    • Chandigarh
    • Chennai
    • Gurgaon
    When did you buy your bike?
    20052019
    Have you made a claim in the previous year?

    Benefits of Magma HDI Bike Insurance

    • A robust network of 4,000+ garages
    • Availability of digital insurance process
    • Prompt and hassle-free customer services
    • Instant insurance policy online renewal procedure
    • Allows the policyholders to make unlimited claims.

    Must Read Articles before buying Magma Bike Insurance

    Magma HDI Bike Insurance User Reviews

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    What users are saying
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    • Good service

      Easy and lot of insurance options to choose as per our requirement Happy and satisfied Good experience and I a...

      A
      Bajaj Avenger 220 Chennai
      By ARUN KUMAR M
      On: June 27, 2021
    • Easy insurance solutions

      Overall good experience. The process was easy to fill with no documents and no paper required. Payment gateway...

      S
      BULLET CLASSIC Malkangiri
      By SUBRAT PUJARI
      On: November 28, 2020
    • Great Service

      Great Service. Thanks to the executive of the InsuranceDekho portal for helping me buy an insurance policy exa...

      D
      Hero Splendor Pro Bhuj (Kachchh)
      By DINESH NAGSHI MAHESHWARI
      On: September 10, 2020
    • Quick settlements of claims

      I purchased a Magma bike insurance plan from InsuranceDekho portal. I made a claim request for my Hero HF Delu...

      Read More
      A
      By Aditya Mehta
      On: July 10, 2020
    • Good insurance services

      Magma insurance plan offers protection for my Yamaha Saluto bike through its great and prompt insurance servic...

      Read More
      A
      By Amish Gaur
      On: July 9, 2020
    • Top-notch support service

      I have a Magma insurance plan for my Suzuki Gixxer SF 250 bike that I bought from InsuranceDekho platform. The...

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      A
      By Arvind Mehra
      On: July 3, 2020
    • Compare and choose option

      Insurance Dekho is a perfect insurance platform that provided me with various insurance quotes to select my po...

      Read More
      S
      By Saumil Sahore
      On: June 26, 2020
    • Splendid insurance services

      The InsuranceDekho platform offered me a variety of insurance services for my Magma insurance. It helped me a ...

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      I
      By Ishaan Malhotra
      On: June 25, 2020
    • Paperless insurance procedures

      I have a comprehensive insurance plan of Magma Insurance Firm that covers my Bajaj Dominar 400. I chose and pu...

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      K
      By Kunal Tyagi
      On: June 4, 2020
    • Quick claim settlements

      Magma Insurance firm quickly settled my claim request for TVS Jupiter scooty. I have bought this great plan fr...

      Read More
      K
      By Komal Asthana
      On: May 29, 2020

    Insurance Products by Magma General Insurance

    Magma HDI General Insurance FAQs

    • I have a very basic bike, do I need to take insurance?

      Insurance is a basic need for all two-wheeler owners. The Indian Motor Tariff makes it mandatory for every two-wheeler owner to have at least a third-party insurance policy for their vehicle. Also, an insurance cover allows you to commute safely and covers you against all the uncertainties that may damage your financial capabilities.

    • Is there any eligibility criteria to get Magma HDI two-wheeler Insurance?

      Yes the customers need to fulfill certain criteria to get a policy from such as:


      • The vehicle needs to be registered with the Roads & Transport Authority (RTA) in India.
      • There should not be any modifications on the original features of the two-wheeler.
      • It should have a two-wheeler fitness certificate.
    • What are the discounts offered on premium by Magma HDI Two-Wheeler Insurance?

      There are various ways by which Magma HDI Insurance offers discounts on premium such as:


      • No-claim bonus - The policyholders can get up to a 50% discount on own-damage premium if they have not made any claim in the previous policy period.
      • ARAI approved anti-theft device - The policyholders will be eligible for a discount of up to 2.5% on own-damage premium if they have installed an ARAI-approved anti-theft device.
      • Additional discounts - Policyholders can also get an additional discount by being a member of the Automobile Association in India.
    • Can I use my existing two-wheeler policy for a new bike?

      Yes, you can use your existing two-wheeler policy for your new bike as well. For further details and procedures, you can contact the nearest branch office or call the toll-free number 1800-266-3202 to get assistance for the same. You can also email your query at customercare@magma-hdi.co.in and someone from the team will get back to you.

    • How can I get a two-wheeler insurance policy from Magma HDI General Insurance Company?

      There are different ways by which a customer can take a two-wheeler insurance policy from Magma HDI General Insurance Company. They can either visit the nearest branch of Magma HDI General Insurance Company or contact the customer support by calling the toll-free number 1800-266-3202. They can also visit their official website or Insurancedekho.com to purchase the plans.

    Why to buy from InsuranceDekho?

    • Instant policy# within 5 mins
    • More than 11.5 Lac happy customers
    • Claim Support available all 7 days of the week

    Magma HDI Bike Insurance Contact Details

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    Disclaimer

    This article is issued in general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.​
    #Applicable on non-inspection cases i.e. existing policy has not expired or when buying a policy for a new vehicle.