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Magma HDI Two Wheeler Insurance is a type of comprehensive two wheeler insurance policy offered by Magma HDI General Insurance. The insurer provides two wheeler Insurance policy package, Commercial Vehicle Insurance, Motor Tractor package, Motor Act Only Policy, Motor Trade Policy and Motor Trade Internal Risk Policy.
Additional benefits that can be included in the two wheeler insurance policy package are personal accident cover. Magma HDI is a joint venture between Magma Fincorp Limited and HDI Global SE. The insurer has 310 offices across 22 states in India.
An add-on rider is an optional cover that policyholders of Magma HDI two wheeler insurance can opt for by paying an additional premium over and above the basic premium. It offers benefits that are not extended through basic Third Party Liability or Comprehensive Magma HDI two wheeler insurance policies.
One of the most effective add-on cover is the Personal Accident Cover that offers a cover of Rs. 1, 00,000 to the policy holder in case he/she runs into an accident while riding the insured two wheeler. The rider covers the policyholder as well as the individual who may have been riding as a pillion at the time of the accident. This feature is not applicable for a two wheeler that has been registered for commercial purposes.
Anyone who wants to purchase a Magma HDI Two Wheeler Insurance, should meet the following criteria to be eligible for it:
The claims procedure for Magma HDI two wheeler insurance is as below:
After the relevant documents have been submitted by the Magma HDI two wheeler insurance policyholder has been submitted, and they have been verified by the insurer, the claim will be settled within 7 business days.
Magma HDI two wheeler insurance specializes in offering a range of Third Party Liability Only and Comprehensive two wheeler insurance plans. Each of these have been tailor-made to meet different insurance needs of vehicle owners. Not just that, it also offers add-on riders, each of which are available on a minimal payment above the premium for the basic plan. Other features like cashless benefits, efficient customer service, quick claim settlement, just to name a few, further explain the reason behind Magma HDI two wheeler insurance being one of the most renowned companies in the market today.
The list of documents that you need to submit during case of theft or case of an accident claim settlement for a Magma HDI two wheeler insurance are:
Yes, you can apply for a duplicate copy of Magma HDI two wheeler insurance by paying a nominal charge of Rs. 50.
The average claim settlement period of Magma HDI two wheeler insurance is 7 working days from the date of receiving the essential documents. The number of days might increase in case the insurance company asks for certain other documents.