I have a very basic bike, do I need to take insurance?

Insurance is a basic need for all two-wheeler owners. The Indian Motor Tariff makes it mandatory for every two-wheeler owner to have at least a third-party insurance policy for their vehicle. Also, an insurance cover allows you to commute safely and covers you against all the uncertainties that may damage your financial capabilities.

Is there any eligibility criteria to get Magma two-wheeler Insurance?

Yes the customers need to fulfill certain criteria to get a policy from such as: The vehicle needs to be registered with the Roads & Transport Authority (RTA) in India. There should not be any modifications on the original features of the two-wheeler. It should have a two-wheeler fitness certificate.

What are the discounts offered on premium by Magma Two-Wheeler Insurance?

There are various ways by which Magma Insurance offers discounts on premium such as: No-claim bonus - The policyholders can get up to a 50% discount on own-damage premium if they have not made any claim in the previous policy period. ARAI approved anti-theft device - The policyholders will be eligible for a discount of up to 2.5% on own-damage premium if they have installed an ARAI-approved anti-theft device. Additional discounts - Policyholders can also get an additional discount by being a member of the Automobile Association in India.

Can I use my existing two-wheeler policy for a new bike?

Yes, you can use your existing two-wheeler policy for your new bike as well. For further details and procedures, you can contact the nearest branch office or call the toll-free number 1800-266-3202 to get assistance for the same. You can also email your query at customercare@magmainsurance.com and someone from the team will get back to you.

How can I get a two-wheeler insurance policy from Magma General Insurance Company?

There are different ways by which a customer can take a two-wheeler insurance policy from Magma General Insurance Company. They can either visit the nearest branch of Magma General Insurance Company or contact the customer support by calling the toll-free number 1800-266-3202. They can also visit their official website or Insurancedekho.com to purchase the plans.

Magma Bike Insurance

Key Features:

No Inspection Needed
Immediate Policy Issurance
No Paper work

Top MAGMA Bike Insurance Plans

PLAN TYPE: Comprehensive

Starting From ₹ 714

Magma Bike Insurance

PLAN TYPE: Third Party

Starting From ₹ 714

Magma Bike Insurance

PLAN TYPE: Own Damage

Starting From ₹ 475

Calculate Your Bike Insurance Price Online

Select your bike brand

Brand

Honda
Hero
TVS
Hero Honda
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Which city is your bike registered in?

New Delhi
Bangalore
Mumbai
Chennai

City

When did you buy your bike?

Year

Disclaimer: Actual Premium might vary basis your location, age and number of members

About Magma General Insurance Company

Magma General Insurance Company Ltd was formed as a joint venture between Magma Fincorp Ltd and Gerling Versicherung AG Germany to cater to the financial needs of the people in India. The company has gained popularity over time and has been listed as one of India’s premier and leading non-banking financial companies (NBFCs). It functions with the mission to understand the bike insurance and other insurance needs of the consumers and translate it into affordable products that deliver value for money. It strives to understand the insurance needs of the semi-urban and rural population of India. It extends its bike insurance and other related services to the distributors and retailers as well.

The range of products and services of Magma General Insurance Company extends from liability, bike, car, accident, fire, and property insurance to marine, unique lines and engineering covers. Magma General Insurance Company delivers its quality products such as bike insurance, property insurance, car insurance and so on, at competitive as well as affordable rates to align with its values of transparency, integrity, fairness, and impartiality, trust and respect for people, and to demand excellence.

In this short time, Magma General Insurance Company reached out to a wide range of customers through more than 135 offices all over India. It has settled claims of bike insurance, car insurance, fire insurance, etc, which equals 1.24 lakhs to date and has policies valuing 24.68 lakhs issued to date. It is working with the vision to be the most preferred, vibrant, and responsible general insurance company and strive to provide quality service at affordable rates for bike insurance and various related products.

Magma Bike Insurance

Magma is a general insurance company started as a joint venture in 2009. Since its establishment, it has become an increasingly popular insurance provider in India. For two-wheelers, Magma offers three types of insurance covers; third party insurance, standalone own damage insurance and comprehensive insurance. It is obligatory for every two-wheeler to have at least a third party insurance, if caught without it you can be punished. The fine for not having third party insurance is Rs 2,000 and/or imprisonment for up to 3 months. When you purchase this policy the insurance provider will take care of third party liabilities in case of a mishap including bodily injuries, death and property damage. If you want to get coverage for own-damage costs you can purchase a standalone own-damage cover. This will cover the two-wheeler in case of theft, road accidents, vandalism, natural and manmade disasters. The third type of insurance coverage is the comprehensive insurance cover, this will take care of third party liabilities and own-damage costs under a single premium and is the most hassle-free option of the three.

Moreover, you can also purchase add-on covers. These will further enhance the coverage of the two-wheeler insurance and cover aspects that are otherwise excluded under general two-wheeler insurance. These covers are optional and allow you to pick and choose according to your specifications. The right combination of add-on covers can make a significant difference to your claim amount in case of a mishap. The zero depreciation cover, the passenger assistance cover, the engine protection cover, the tyre protect cover and the consumables cover are some of the add-ons covers that you should definitely check out when purchasing two-wheeler insurance.

Significant Points of Magma Bike Insurance

Features	Coverage
Property Damage under Third Party Insurance	Maximum Compensation Rs 1 Lakh
Own Damage Cover	Depends on the IDV of the Two-Wheeler
Personal Accident Cover	Up to Rs 15 Lakh
Claim Assistance	24x7 Helpline Available

Magma Bike Insurance User Reviews

5.0

Rating based on

75 User reviews

Write your review

What users are saying

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Most Helpful
Comprehensive
Zero Depreciation
Third Party
Own Damage
Renewal
Cashless Garages
Price
Premium
Policy Download
Customer Care
Claim
Add On

Good service
Easy and lot of insurance options to choose as per our requirement Happy and satisfied Good experience and I am using insurance dekho for the past two years in choosing my bike insurance
Read More
A
Bajaj Avenger 220 Chennai
By ARUN KUMAR M
On: June 27, 2021
Easy insurance solutions
Overall good experience. The process was easy to fill with no documents and no paper required. Payment gateway is also flexible that has many options. Also the website captures previous data for easy fill ups. Thanks
Read More
S
BULLET CLASSIC Malkangiri
By SUBRAT PUJARI
On: November 28, 2020
Great Service
Great Service. Thanks to the executive of the InsuranceDekho portal for helping me buy an insurance policy exactly as per my needs and within my budget.
Read More
D
Hero Splendor Pro Bhuj (Kachchh)
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 Deluxe bike and got it quickly settled with the assistance of InsuranceDekho executives. Thanks to their entire team.
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 services. I bought this plan through the InsuranceDekho platform without any hassle.
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. Their customer support is excellent and helped me a lot in understanding the policy.
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 policy. With its help, I opted for the Magma policy for my Suzuki Access 125 bike.
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 lot in securing my Honda Grazia bike.
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 purchased this plan from InsuranceDekho without getting involved in any paperwork. The process there was completely digital.
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 from InsuranceDekho and found it incredibly perfect in its services.
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 Hero Splendor Plus bike.
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 protect my Hero Passion Pro 110 bike.
Read More
A
By Avin Goyal
On: May 8, 2020
Helps in choosing the best pol...
The Magma General Insurance helped me choose the most perfect policy by offering various bike insurance quotes to choose from. I bought its policy to cover my Honda Activa.
Read More
R
By Rashmi Johri
On: April 30, 2020
Swift and smooth renewal proce...
Magma general insurance firm renewed my insurance plan I bought for my Hero Destini 125 bike swiftly and smoothly in just a few minutes.
Read More
N
By Nitin Bansal
On: April 24, 2020
Several insurance services
Magma General Insurance Company offered me a list of insurance-related services that they can deliver to me. Impressed with their offerings I bought a policy from them for my Yamaha Saluto.
Read More
A
By Abhishek Pandey
On: April 17, 2020
Active customer support
The support team of Magma Insurance Company is so active and brilliant that I never have faced any insurance-related problem in the policy of my Hero Passion Pro 110 bike.
Read More
A
By Aman Malik
On: April 9, 2020
Easy access to information
I am glad to see that there is an insurance portal which not only sells products but also imparts basic and advanced knowledge about insurance as for a lay man things like insurance sometimes become really confusing.
Read More
G
By Gaurav Gandhi
On: March 31, 2020
Great customer service
InsuranceDekho has an amazing team for bike insurance. I shared my requirements with them and they suggested the best plan within my budget. I am really satisfied.
Read More
D
By Dushyant Malhotra
On: March 25, 2020
Provides quality assistance
While making comparisons on the Insurance Dekho’s website, I was really confused. I called up their customer care number. The executive was very helpful, he listened to all my doubts and then gave suggestions accordingly.
Read More
R
By Reshmi Dutta
On: March 23, 2020
Best insurance quotes in few c...
Getting the right bike insurance policy can be easy with Insurance Dekho. I just had to enter the registration number of my bike and choose the right policy in just a few clicks.
Read More
H
By Hardulal Mahato
On: March 19, 2020
Simple procedure of comparing ...
On the website of Insurance Dekho, I was able to compare different bike insurance policies easily. I chose the policy from Magma as it is affordable and contained all the features.
Read More
P
By Partha Choudhury
On: March 18, 2020
Vast choices to opt from
The official website of Insurance Dekho has vast choices of insurance companies to choose from. After receiving the necessary details, it prepares a list consisting of a number of suitable insurance policies for your bike.
Read More

By Lekhani Shaw
On: March 17, 2020
Hassle-free renewal process
Renewal process becomes easy with the help of Insurance Dekho. You do not have to face any hassle at the time of renewing your policy. Following some easy steps, you can renew your bike policy in a short time.
Read More
V
By Vicky Dubey
On: March 16, 2020
Get policies quickly
The procedure for purchasing a new bike insurance policy with the help of Insurance Dekho is pretty quick. You just need to go through the steps they suggest and you’ll get your desired policy swiftly.
Read More
H
By Hirak Jaiswal
On: March 13, 2020
Quick procedure
Purchasing policy through Insurance Dekho is really time-saving. I bought a bike insurance policy from Magma recently with their help. It asked me to follow a few simple steps which weren’t time-consuming at all.
Read More
K
By Krita Chakraborty
On: March 12, 2020
Excellent assistance from onli...
I got all my doubts regarding the bike insurance policies cleared after sharing my doubts in the online chat option. With their assistance, I got the bike insurance plan from Magma.
Read More
S
By Sandip Sardesai
On: March 11, 2020
Best Platform for choosing the...
I have a passion for superbikes and I was always worried about the incidental damages. But, to be honest I became satisfied when I came across InsuranceDekho. This is the best platform to compare and check the policies and arrive at the most suitable.
Read More
R
By Rani Birla
On: March 9, 2020
User-friendly website
I opted to use Insurance Dekho to compare the bike insurance policies and find a suitable policy. The website is simple and easy to follow. I loved its organized and informative presentation.
Read More
S
By Sayani Sen
On: March 6, 2020
Several insurance policies ava...
There are many options of bike insurance policies available on Insurance Dekho. I found many reputed providers offering the plans. I recommend everyone to visit the website of Insurance Dekho before buying bike insurance.
Read More
A
By Ashim Singha Ray
On: March 5, 2020
Well-framed website
As I was planning to purchase Magma bike insurance policy, I opened the website of Insurance Dekho for more information. I was pleased to find a site that has a great presentation on every policy.
Read More
R
By Rohit Gupta
On: March 4, 2020

Magma Reviews

Magma General Insurance FAQs

I have a very basic bike, do I need to take insurance?
Insurance is a basic need for all two-wheeler owners. The Indian Motor Tariff makes it mandatory for every two-wheeler owner to have at least a third-party insurance policy for their vehicle. Also, an insurance cover allows you to commute safely and covers you against all the uncertainties that may damage your financial capabilities.
Is there any eligibility criteria to get Magma two-wheeler Insurance?
Yes the customers need to fulfill certain criteria to get a policy from such as:

The vehicle needs to be registered with the Roads & Transport Authority (RTA) in India.

There should not be any modifications on the original features of the two-wheeler.

It should have a two-wheeler fitness certificate.
What are the discounts offered on premium by Magma Two-Wheeler Insurance?
There are various ways by which Magma Insurance offers discounts on premium such as:

No-claim bonus - The policyholders can get up to a 50% discount on own-damage premium if they have not made any claim in the previous policy period.

ARAI approved anti-theft device - The policyholders will be eligible for a discount of up to 2.5% on own-damage premium if they have installed an ARAI-approved anti-theft device.

Additional discounts - Policyholders can also get an additional discount by being a member of the Automobile Association in India.
Can I use my existing two-wheeler policy for a new bike?
Yes, you can use your existing two-wheeler policy for your new bike as well. For further details and procedures, you can contact the nearest branch office or call the toll-free number 1800-266-3202 to get assistance for the same. You can also email your query at customercare@magmainsurance.com and someone from the team will get back to you.
How can I get a two-wheeler insurance policy from Magma General Insurance Company?
There are different ways by which a customer can take a two-wheeler insurance policy from Magma General Insurance Company. They can either visit the nearest branch of Magma General Insurance Company or contact the customer support by calling the toll-free number 1800-266-3202. They can also visit their official website or Insurancedekho.com to purchase the plans.

FAQ

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Disclaimer

This article is issued in general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

Magma Bike insurance starting from ₹ 714/year*

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