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 Third Party Bike Insurance

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

​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

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What users are saying
  • All
  • 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 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.

Why Choose Bike Insurance from InsuranceDekho?

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  • 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.