Magma Two Wheeler Insurance

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.

• 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.

Types of Magma Two Wheeler Insurance Policies

• Liability Only Two Wheeler Insurance Policy

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.

• Standalone Own Damage Two Wheeler Insurance Policy

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.

• Two Wheeler Insurance Package 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.

Benefits of Choosing Magma Bike Insurance

The two wheeler insurance from this company provides ample number of benefits:

• Ask Mira virtual assistant

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.

• 4,300+ cashless garages

Policyholders get access to more than 4,300 cashless garages across India for smoother and faster bike repair claims with reduced upfront expenses.

• Transit damage protection

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.

• Riot and terrorist activity coverage

The package policy specifically includes protection against damages caused by riots, strikes, malicious acts, and terrorist activities.

• Online policy issuance in minutes

Riders can purchase or renew Magma two wheeler insurance digitally with instant policy generation and minimal documentation requirements.

• Wide add-on customisation

Allows riders to enhance coverage with add-ons such as zero depreciation, engine protection, consumables cover, roadside assistance, and return to invoice protection.

• IRDAI-registered insurer

Offered by Magma General Insurance Company Limited, an IRDAI-approved insurer with Registration No. 149.

Inclusions & Exclusions Under Magma Bike Insurance Policy

• Inclusions

• 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

• Exclusions

• 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

Add-On Covers Available with Magma Bike Insurance

• Zero depreciation cover

• Engine protection cover

• Return to invoice cover

• Roadside assistance cover

• NCB protection cover

• Consumables cover

• Key replacement cover

These add-ons help riders customise their two wheeler insurance coverage according to their riding conditions and protection requirements.

How to Buy Magma Two Wheeler Insurance Online?

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.

Magma Two Wheeler Insurance Customer Support

Here are the Magma Two-Wheeler Insurance company’s customer support details:

• Customer Care Helpline

1800 266 3202 - Available 24x7 for insurance and claim-related assistance.

• Email Support

customercare@magmainsurance.com - Customers can raise policy, renewal, and claim-related queries through email support.

• Senior Citizen Support

Namaskar@magmainsurance.com - Dedicated assistance support for senior citizen policyholders.

• Ask MIRA AI Support

Magma provides “MIRA” (Magma Interactive Realtime Assistant), an AI-powered customer support assistant for instant insurance query handling.

• WhatsApp Support

7208976789 - Customers can start assistance by sending “Hi” on WhatsApp.

• Grievance Redressal Support

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.