Magma Third-Party Bike Insurance

Magma Third-Party Bike Insurance is a mandatory policy that every bike owner in India must have to ride legally. It protects you Read More

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Premium coverage starts at ₹ 457*

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This policy helps you manage legal and financial responsibilities after an accident, so you do not have to bear heavy expenses on your own.
However, it does not cover damage to your own bike. It is a simple and affordable option for riders who only want basic and legal protection.

Magma Third Party Comprehensive Standalone Own Damage Zero Depreciation Claim Renewal Policy Download Customer Care

Key Features of Magma Third-Party Bike Insurance

Here are the main features of Magma General Insurance Third-Party Bike Insurance:

01
Mandatory by Law
Meets the legal requirement under the Motor Vehicles Act for riding a bike in India.
02
Covers Third-Party Injury or Death
Pays compensation if your bike causes injury or accidental death to another person.
03
Covers Third-Party Property Damage
Pays for damage caused to someone else’s vehicle, house, shop, or other property.
04
Affordable Premium
Comes at a low cost, as the premium is fixed by IRDAI.
05
Easy Online Purchase and Renewal
Allows quick buying and renewal through an online process with no paperwork.
06
Legal Cost Protection
Covers legal expenses related to third-party claims.
07
Best for Basic Coverage
Suitable for riders who only want mandatory insurance at a low price.

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Inclusions and Exclusions of Magma Third-Party Bike Insurance

What it Covers

Injury to a third person
Accidental death of a third person
Damage to another person’s vehicle or property
Legal expenses related to third-party claims

What Does it not Cover

Damage to your own bike
Injury to the rider or owner (without personal accident cover)
Theft or total loss of the bike
Damage due to fire, flood, earthquake, or other natural disasters
Accidents caused while riding under the influence of alcohol or drugs
Claims when riding without a valid driving licence
Damage during racing, stunts, or illegal use
Mechanical or electrical breakdown and normal wear and tear

Disclaimer: Always refer to your policy documents to know the exact coverage.

Importance of Magma Third-Party Bike Insurance

Here are the key reasons why Magma Third-Party Bike Insurance is important:

Mandatory for Legal Riding
Third-party bike insurance is required by law in India. This policy allows you to ride your bike legally and avoid penalties.
Reduces Financial Burden
If your bike causes injury, death, or property damage to another person, the policy pays the compensation on your behalf.
Handles Legal Responsibilities
It covers legal and court-related costs if a third-party claim is made after an accident.
Low-Cost Insurance Option
The premium is fixed by IRDAI and is usually affordable for most bike owners.
Gives Confidence While Riding
Knowing that third-party risks are covered helps you ride with peace of mind.