Magma Third Party Bike Insurance

Magma Bike Insurance

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

​Magma Third Party Bike Insurance

Magma HDI General Insurance has been shielding the public from the unfortunate events of life successfully. Magma HDI third party bike insurance policy protects the policyholders from the financial and legal liabilities towards the third party.

Magma HDI General Insurance has tried to enhance the experience of the policyholders by digitalizing the procedure. Its active support team provides round the clock assistance to the policyholders. Magma HDI third party bike insurance policy offers the basic coverage at an affordable cost.

Magma HDI Third Party Bike Insurance vs Comprehensive Bike Insurance

Basis

Third Party bike

insurance

Comprehensive bike

insurance

Coverage

The third party bike insurance policy provides coverage for the financial and legal obligations towards the third party only.

The comprehensive bike insurance policy provides coverage for the third party liabilities and for the own damage of the insured’s bike as well.

Nature of Requirement

This is mandatory as per the Indian Motor Tariff Act.

Its purchase depends on the preference of the policyholders.

Add-ons Availability

No add-on cover is provided along with the third party bike insurance policy.

The comprehensive bike insurance policy provides a variety of add-on covers to the policyholders.

Cost

The premium of third party insurance policy is relatively lower due to its limited coverage.

The comprehensive policy is relatively expensive due to its wide coverage.

What All is Covered Under Magma HDI Third Party Bike Insurance Policy?

Magma HDI third party bike insurance policy provides coverage for the following.

  • Financial Liabilities of third party property damage: The insurer covers the financial liabilities towards the third party property damages caused by the insured’s bike. The insurer provides compensation of up to Rs. 1 Lakh for third party property damage.
Bodily Injuries/ loss of life of the third party: The insurer provides compensation for the bodily injury, disability or loss of life of the third party caused due to the insured’s bike. However, the compensation amount is decided by the court of law.

Magma Bike Insurance User Reviews

72 reviews Write a Review
  • Quick settlements of claims

    I purchased a Magma bike insurance plan from InsuranceDekho portal. I made a claim request for my Hero HF Deluxe bike and got it quickly settled with ...

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    A
    Aditya Mehta
    On: July 10, 2020 | Views
  • Good insurance services

    Magma insurance plan offers protection for my Yamaha Saluto bike through its great and prompt insurance services. I bought this plan through the Insur...

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    A
    Amish Gaur
    On: July 9, 2020 | Views
  • Top-notch support service

    I have a Magma insurance plan for my Suzuki Gixxer SF 250 bike that I bought from InsuranceDekho platform. Their customer support is excellent and hel...

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

    Insurance Dekho is a perfect insurance platform that provided me with various insurance quotes to select my policy. With its help, I opted for the Mag...

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

    The InsuranceDekho platform offered me a variety of insurance services for my Magma insurance. It helped me a lot in securing my Honda Grazia bike.

    I
    Ishaan Malhotra
    On: June 25, 2020 | Views

Magma HDI Third Party Bike Insurance FAQ

  • Why is a third party bike insurance policy needed?

    Magma HDI third party bike insurance policy is needed due to the following reasons.

    • This provides coverage for third party liabilities.
    • It is mandatory according to the Indian Motor Tariff Act.
  • How can I pay the premium of the Magma HDI third party bike insurance policy?

    You can pay for the premium of the Magma HDI third party bike insurance policy by any of the following ways.

    • Visit the nearest branch.
    • Go to the official website of Magma HDI General Insurance and follow the steps they suggest.
    • Contact the customer care of the Magma HDI General Insurance by dialling the toll-free number 1800 266 3202.
  • What are the documents required to apply for the Magma HDI third party bike insurance policy?

    The necessary documents required to get the Magma HDI third party bike insurance policy are as follows.

    • Photo ID proof, address proof (voter ID, Aadhaar card, PAN card or Passport)
    • Photocopy of a valid driving license
    • Registration number of the bike
    • Registration certificate.
  • Can I stretch the coverage of the Magma HDI third party bike insurance policy?

    No, you can not stretch the coverage of the Magma HDI third party bike insurance policy as it does not offer any add-on cover.

  • Does the Magma HDI third party bike insurance policy provide any coverage beyond the geographical area?

    No, the Magma HDI third party bike insurance policy does not provide any coverage for any kind of mishaps occurred outside the pre-decided geographical area.

Magma Bike Insurance Contact Details

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