Brand new Bike
Magma HDI General Insurance offers a number of addon covers that you can add to your policy during the purchase or renewal of the policy. Buy these addon covers along with your Magma HDI insurance policy and get enhanced insurance coverage for your bike.
Each claim-free year earns you a No Claim Bonus which acts as a discount on your next year's premium. It accumulates over time if no claims are filed, but it is forfeited if even a single claim is filed. As a result, if you purchase this add-on cover, the insurer will protect your No Claim Bonus at renewal time, even if you have filed a claim in the previous policy year.
This cover ensures that you don’t get stranded due to any breakdown or mechanical failure of your bike. Services under this cover include situations involving a dead battery, a flat tyre, towing facility, medical help coordination, fuel assistance and more.
This add-on cover reimburses you for the cost of depreciation from the value of parts that were replaced due to damages or accidents. This cover is more commonly known as ‘Nil/ Zero Depreciation’ or ‘Bumper to Bumper’ cover. Find out more about this cover and related benefits here.
In the event of a total loss, constructive total loss, or theft of your vehicle, this add-on cover compensates the invoice value of your bike at the time of registration, original customs duty (if any), or the customs duty applicable for the new bike, whichever is less, as well as registration charges and road tax. If you have a new bike or a premium bike, it is recommended that you buy this addon cover.
Frequently Asked Questions
Yes, you can transfer the benefits of your no-claim bonus when you switch your insurance policy from one insurer to another. However, this can be done only up to 90 days from the policy expiry date.
A locksmith can produce a duplicate key for you, but it won't be safe because it won't have any security codes. The best option is to get a replacement key from an authorized service center or an authorized dealer.
You can purchase Magma HDI bike insurance add-ons when purchasing the insurance cover or when renewing your bike’s insurance policy.
Unless otherwise stated, general insurance policies are valid for one year.