Magma General Insurance Company Limited is an IRDAI-registered general insurance company with IRDAI Registration No. 149. The insurer offers dedicated two wheeler insurance plans for bikes and scooters, covering both third-party liabilities and own vehicle damages. Magma’s bike insurance policies protect riders against accidents, theft, fire, natural calamities, and legal liabilities while also offering digital policy purchase and renewal services. This general insurance company additionally provides optional add-on covers, personal accident protection, and cashless repair assistance for better financial security on Indian roads.
Magma General Insurance Company Limited was earlier known as Magma HDI General Insurance Company Limited, and the company adopted the new “Magma General Insurance” identity after HDI Global SE exited its shareholding from the joint venture.
Disclaimer: The above mentioned prices are for a 2 year old Hero Honda Karizma R 223 CC, registered in Navi Mumbai & previous policy has expired.
Third-party liability cover for bodily injury, death, and property damage caused to third parties
Own damage protection against accidents, theft, fire, riots, floods, cyclones, earthquakes, and malicious acts
Personal accident cover available for the owner-driver against accidental death or disability
Transit damage coverage for losses occurring during transportation by road, rail, air, inland waterways, lift, or elevator
No Claim Bonus up to 50% benefits offering premium discounts for claim-free policy years
Cashless repair assistance at authorised 4,300+ network garages across India
24/7 customer support assistance for policy servicing and claims support.
This policy covers third-party bodily injury, death, and property damage caused due to the insured bike or scooter. It is the mandatory minimum insurance required under the Motor Vehicles Act.
This policy covers damages to the insured two wheeler caused by accidents, theft, fire, natural calamities, and man-made disasters. It can be purchased only if the vehicle already has an active third-party insurance policy.
This is Magma’s comprehensive bike insurance policy that combines third-party liability cover with own damage protection. It also allows riders to enhance coverage through optional add-on covers for broader financial protection.
The two wheeler insurance from this company provides ample number of benefits:
Magma offers “Ask Mira”, an AI-powered virtual assistance feature that helps customers with policy queries, claim support, and insurance-related assistance directly through the insurer’s website.
Policyholders get access to more than 4,300 cashless garages across India for smoother and faster bike repair claims with reduced upfront expenses.
Covers damages caused to the insured bike while being transported through road, rail, air, inland waterways, lift, or elevator, which is not commonly highlighted in many standard bike insurance policies.
The package policy specifically includes protection against damages caused by riots, strikes, malicious acts, and terrorist activities.
Riders can purchase or renew Magma two wheeler insurance digitally with instant policy generation and minimal documentation requirements.
Allows riders to enhance coverage with add-ons such as zero depreciation, engine protection, consumables cover, roadside assistance, and return to invoice protection.
Offered by Magma General Insurance Company Limited, an IRDAI-approved insurer with Registration No. 149.
Damages caused due to accidents or external impact
Theft or burglary of the insured two wheeler
Fire and explosion-related losses
Natural calamities such as floods, storms, earthquakes, and cyclones
Man-made calamities including riots and malicious acts
Third-party injury, death, and property damage liabilities
Personal accident cover for owner-driver
Transit-related damages during transportation
Riding without a valid driving licence
Riding under the influence of alcohol or drugs
Normal wear and tear
Mechanical or electrical breakdown
Consequential losses
Claims after policy expiry
Damages due to war or nuclear risks
Policy misuse or violation of usage limitations
Zero depreciation cover
Engine protection cover
Return to invoice cover
Roadside assistance cover
NCB protection cover
Consumables cover
Key replacement cover
| Zero Depreciation Cover | No Claim Bonus Cover | Roadside Assistance Cover |
| Return to Invoice Cover | Consumables Cover | Engine Protection Cover |
| Passenger Assistance Cover | Personal Accident Cover |
These add-ons help riders customise their two wheeler insurance coverage according to their riding conditions and protection requirements.
You can buy Magma bike insurance online through Coverfox:
Visit the Coverfox two wheeler insurance page.
Enter your bike registration number and vehicle details.
Select Magma two wheeler insurance from the available general insurance companies.
Choose the preferred policy type and add-on covers.
Compare premium and coverage details.
Enter personal details and previous policy information.
Complete the online payment securely.
Receive the policy instantly on your registered email ID.
Here are the Magma Two-Wheeler Insurance company’s customer support details:
1800 266 3202 - Available 24x7 for insurance and claim-related assistance.
customercare@magmainsurance.com - Customers can raise policy, renewal, and claim-related queries through email support.
Namaskar@magmainsurance.com - Dedicated assistance support for senior citizen policyholders.
Magma provides “MIRA” (Magma Interactive Realtime Assistant), an AI-powered customer support assistant for instant insurance query handling.
7208976789 - Customers can start assistance by sending “Hi” on WhatsApp.
gro@magmainsurance.com - Customers can escalate unresolved complaints to the Chief Grievance Redressal Officer.
Disclaimer: *Discount up to 85% is calculated by comparing different insurers and may vary depending on the insurer, vehicle details, location, and policy terms.
Yes, Magma two wheeler insurance offers coverage for accidents, theft, natural calamities, third-party liabilities, and optional add-ons for bikes and scooters.
Magma offers features such as 4,300+ cashless garages, Ask MIRA AI support, digital policy services, and multiple add-on covers for customised protection.
Yes, Magma provides cashless repair assistance through its network of authorised garages across India.
Yes, Magma bike insurance can be purchased online through the insurer’s official website or insurance platforms like Coverfox.
You can download the policy document from the insurer’s customer portal or through the policy confirmation email shared after purchase.
The No Claim Bonus in Magma bike insurance can go up to 50% for consecutive claim-free years, as per applicable insurance guidelines.
Yes, roadside assistance is available as an optional add-on cover with Magma two wheeler insurance policies.
Yes, roadside assistance is available as an optional add-on cover with Magma two wheeler insurance policies.
Magma calculates IDV based on the manufacturer’s listed selling price after applying depreciation according to the vehicle’s age.
Engine damage due to water ingression is usually covered only if the engine protection add-on cover has been purchased.
Yes, Magma bike insurance can be transferred to the new owner during vehicle ownership transfer procedures.
Claim settlement timelines depend on document verification, survey processes, and repair estimation, but cashless claims are generally processed faster through authorised garages.
