Bike insurance starting from Rs.482/year*
  • Save upto 75%*
    Lowest Bike Premiums
  • 11.5 Lakh+
    Happy Customers
  • Claim Support
    7 days a week

*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

Magma Bike Insurance Claim

Magma Bike Insurance

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  • Round the clock 24*7 customer support from the toll-free helpline
  • 77.89% Claim Settlement Ratio in FY18
  • More Than 200 Branches Across India
  • Claim Settlement In 7 Business Days

IFFCO Tokio Bike Insurance Claim

Magma HDI General Insurance has an impressive claim settlement ratio of 77.89% in the financial year of 2017-2018. It has seamlessly settled thousands of claims of its policyholders over the years enhancing its reputation as an insurance company.

Magma HDI General Insurance has digitalized the procedures involved in the purchase, claim and renewal of the policy to reach out to a larger number of people. The claim settlement procedure can be conducted both online and offline. Magma HDI General Insurance has established an efficient customer care service to guide the policyholders through the process.

List of Documents Required During Claim Settlement

The following documents are required at the time of settling a bike insurance claim.

  • Duly filled and signed claim form
  • Self-attested copy of Registration Certificate (RC)
  • Driving license of the person driving at the time of the accident
  • Policy copy
  • Original repair estimate, repair invoice and payment receipt for non-cashless claims
  • Original repair invoice for cashless claims.

How To Make a Cashless Bike Insurance Claim with Magma HDI Bike Insurance Policy?

Magma HDI General Insurance has introduced a claim settlement process for the bike insurance policy in the following simple steps to offer a hassle-free experience to its policyholders.

Step 1: Contact Magma HDI General Insurance and register the claim

It is essential to intimate the insurer immediately after the accident, theft or damage of the insured’s bike. For claim intimation, you need to call up its helpline number 1800 266 3202 or visit the nearest office. For the online claim intimation, follow the simple steps mentioned below.

  • Open the official website of Magma HDI General insurance
  • Click on “More”
  • Select “Claims” from the drop-down menu
  • As the new claims page opens up, select the type of insurance, i.e “Two Wheeler” in this case
  • Click on “continue”
  • Fill up the required fields in the “Enter your details” page.

Once the claim gets registered, you receive a claim registration number. In case of a call or office visit intimation, the representative provides you with the claim registration number.

Step 2: Survey of Damages

A company surveyor is appointed to assess the extent of the damages caused to the insured’s bike during the accident. The surveyor conducts a spot survey and prepares the cost estimate of repair. You should submit the duly filled claim form, policy documents and proves of the incident to the surveyor. The insured’s bike is driven or towed to the nearest network garage.

Step 3: Claim Settlement

After assessing all the aspects, the surveyor gives approval. The insurer confirms its financial and legal liabilities and bears all the expenses of repair of the insured’s bike. The claim amount is calculated taking the deductibles and depreciation into consideration.

How To Make a Reimbursement Bike Insurance Claim with Magma HDI Bike Insurance Policy?

A reimbursement claim can be registered if you fail to move the insured’s bike to the network garage or wish to repair it in any other garage. A reimbursement claim ensures compensation for the repair expenses of the insured’s bike. The process of registering a reimbursement claim has been elaborated in the following steps.

Step 1: Contact the insurer and register the claim

The policyholder should inform the insurer about the accident, theft or damage of the insured’s bike within 24 hours. You can intimate the insurer by dialling its helpline number 1800 266 3202 or visiting the nearest office. In the case of online claim intimation, visit the official website and follow the simple steps mentioned below.

  • Click on “More”
  • Select “Claims” from the drop-down menu
  • As the new claims page opens up, select the type of insurance (“Two Wheeler” in this case)
  • Click on “continue”
  • Fill up the required fields in the “Enter your details” page.

After the claim gets registered, you receive a claim registration number. In case of a call or office visit intimation, the representative provides you with the claim registration number.

Step 2: Survey of the Damages Incurred

Do not move the bike to the garage before the surveyor arrives. The insurance company appoints a surveyor to check the condition of the bike. The surveyor produces an estimate of the cost of repair and collects the required documents, duly filled claim form and contact numbers of witnesses or photos of the incident as proof.

Step 4: Repair and Reimbursement

After the approval from the surveyor, you can move the bike to your desired garage and get it repaired at your own expense. After the completion of the repair, the bills and receipts of repair along with policy documents are to be submitted to the insurer for the reimbursement. The company verifies the case and disburses the claim amount factorizing all the deductibles and depreciation.

Common Claim Rejection Reasons

Magma HDI General Insurance has a set of specific conditions for the approval of the claim. The claim is rejected by the insurance company under the following circumstances.

  • Registration of a fraud Claim
  • Claiming wrong coverage amount
  • Misinterpretation of facts
  • Improper functioning of the vehicle parts
  • Driving without license
  • Intoxication
  • Lack of details required to process the claim
  • Delay in intimation about the mishap to the insurer
  • Act of negligence.

Magma Bike Insurance User Reviews

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What users are saying
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  • Most Helpful
  • Great Service

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

    Read More
    D
    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...

    Read More
    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 ...

    Read More
    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...

    Read More
    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
  • Efficient claim settlement

    I faced not a single problem in getting my claim settled for the Magma insurance policy that I bought for my H...

    Read More
    H
    By Hemant Shekhawat
    On: May 15, 2020
  • Incredible customer support

    The customer support staff of Magma Insurance is brilliant and have provided me with great assistance to prote...

    Read More
    A
    By Avin Goyal
    On: May 8, 2020
  • Great Service

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

    Read More
    D
    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...

    Read More
    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 ...

    Read More
    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...

    Read More
    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
  • Efficient claim settlement

    I faced not a single problem in getting my claim settled for the Magma insurance policy that I bought for my H...

    Read More
    H
    By Hemant Shekhawat
    On: May 15, 2020
  • Incredible customer support

    The customer support staff of Magma Insurance is brilliant and have provided me with great assistance to prote...

    Read More
    A
    By Avin Goyal
    On: May 8, 2020

Magma HDI Bike Insurance Claim FAQs

  • Can I make a claim in case of any consequential damage under the Magma HDI bike insurance policy?

    No, you can not make a claim for any consequential damage under the Magma HDI bike insurance policy. The case of total loss is also excluded from this policy.

  • How long does Magma HDI General Insurance take to settle a bike insurance claim?

    Magma HDI General Insurance settles the bike insurance policy claim within 7 working days after receiving all the requested documents.

  • What coverage amount would I get in case of theft of the insured’s bike?

    The insurer provides the calculated Insured Declared Value (IDV) of the bike deducting the depreciation and deductibles in case of theft of the insured’s bike.

  • What circumstantial proves can help in settling a claim?

    The following circumstantial proves will help in settling a claim

    • Eyewitnesses
    • Pictures of the location of the accident
    • Pictures of the insured’s bike that clearly shows the extent of the damage.
  • If I lodge a claim after the expiry of my policy date for an event that occurred during the policy period, will it still be valid under the Magma HDI bike insurance policy?

    If the accident had occurred before the expiry date, you can make a claim to your insurer even after the expiry of the insurance policy. The insurer is obliged to settle the claim as the mishap had occurred in the policy period.

Why Choose Bike Insurance from InsuranceDekho?

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

Magma Bike Insurance Contact Details

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#Applicable on non-inspection cases i.e. existing policy has not expired or when buying a policy for a new vehicle.