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Key Features of Magma Own Damage Bike Insurance
Here are the main features of Magma Own Damage Bike Insurance:
- 01
Accident Damage Cover
Covers repair costs if your bike is damaged due to an accident, collision, or fall.
- 02
Natural Disaster Cover
Covers damage caused by floods, earthquakes, storms, cyclones, fire, or lightning.
- 03
Theft Protection
Provides compensation if your bike is stolen or damaged during theft.
- 04
Man-Made Event Cover
Covers losses caused by riots, strikes, vandalism, or malicious acts.
- 05
No Claim Bonus (NCB)
Offers a discount on renewal if no claim is made during the policy year.
- 06
Optional Add-On Covers
Allows you to add covers like Zero Depreciation, Engine Protection, or Roadside Assistance.
- 07
Cashless Repair Facility
Enables cashless repairs at authorised network garages for approved claims.
- 08
Quick Online Process
Allows easy purchase or renewal through an online platform.
- 09
Simple Claim Process
Makes claim registration and settlement smooth and easy.
Bike Insurance Plans By Magma
What Does Magma Own Damage Bike Insurance Cover and Not Cover?
What it Covers
Magma Own Damage Bike Insurance protects your bike in the following situations:
Covers damage to your bike caused by accidents or collisions.
It covers damage due to fire, explosion, or self-ignition.
Covers theft or complete loss of the bike.
Covers damage caused by natural events such as floods, storms, or earthquakes.
Covers losses due to man-made incidents like riots, strikes, or vandalism.
Allows cashless repairs at authorised network garages for approved claims.
What Does it not Cover
This policy does not provide coverage in the following cases:
Injury or property damage caused to a third party.
Riding the bike under the influence of alcohol or drugs.
Riding without a valid driving licence.
Normal wear and tear or ageing of bike parts.
Mechanical or electrical failure not linked to an accident.
Damage occurring outside India.
Losses caused by war, nuclear risks, or civil unrest.