Magma HDI Two-Wheeler Add-Ons
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Magma HDI Bike Insurance Add-On Covers
When it comes to add-on covers, it gives you an additional policy coverage by paying a little extra amount of premium. It helps you protect your bike in a better manner by extending support for different situations. However, these benefits can be included in your bike insurance policy on the basis of your requirements and budget. Magma HDI General Insurance gives several add-on covers that you can easily add in your policy during the purchase process or renewal process.
Magma HDI - 4 Important Add-On Covers For Your Bike Insurance Policy
The Magma HDI General Insurance offers various add-on covers to its policyholder on paying an additional premium. Some of those benefits are as follow:
1. Depreciation Reimbursement – With this add-on cover, you will get the reimbursement for the amount of depreciation deducted on the value of parts which were replaced after getting damaged due to an accident or any mishap. However, this add-on cover will not apply to total loss, constructive total loss or theft of your bike or if the bike is repaired without prior authorisation of the insurance provider.
2. Return to Invoice – This is an add-on cover that offers coverage for the invoice value of your bike at the time of its registration, original customs duty if any, or the customs duty applicable for the new bike, whichever is less, and registration charges and road-tax of your bike, in case of a total loss, constructive total loss, or theft of your vehicle, irrespective of the Insured Declared Value (IDV) of your bike. You can easily get this add-on by paying a little extra amount of premium along with the normal premium.
3. Protection of NCB - With every claim-free year you earn a No Claim Bonus (NCB) which works as a discount for your next year premium amount. It gets accumulated with successive claim-free years but gets terminated if even a single claim is made. Hence, with Protection of NCB add-on cover, the insurer protects your No Claim Bonus (NCB) at the time of renewal even if you have made the claim in the last policy year. You can avail this add-on benefit if there was only one claim registered in the entire policy period and the repair work is done only at our network garage.
4. Basic Roadside Assistance - Your bike is a machine and it could breakdown or face any mishap anytime and anywhere. Hence, to cope up with this uncertainty and protect yourself from getting stranded at an unknown location, opt for this add-on cover by paying a little extra premium amount. The roadside assistance cover helps you in different circumstances that include mechanical and electrical breakdown, accidental immobilisation, flat tyre, dead battery, key locked-in, running out of fuel, and so on.
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Must Read Articles before buying Magma Bike Insurance
- Read this article to know about the reasons to opt for Magma HDI two-wheeler insurance.
- Read this article to understand the different types of bike insurance policies offered at Magma HDI General Insurance and easy ways to claim your bike
- The followings are a few misconceptions about two-wheeler insurance, let’s have a look at them.
- Want to know the re-registration of a vehicle process in India? What are the documents required for re-registering a two-wheeler? Learn more.
- You must be wondering about what to do if you have lost your two-wheeler insurance documents? Here is a complete guide for you.
Magma HDI Bike Insurance User Reviews
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Easy and lot of insurance options to choose as per our requirement Happy and satisfied Good experience and I a...
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Overall good experience. The process was easy to fill with no documents and no paper required. Payment gateway...
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Great Service. Thanks to the executive of the InsuranceDekho portal for helping me buy an insurance policy exa...
Magma HDI Bike Insurance Add-On Cover FAQs
How many bike add-on covers are offered by Magma HDI General Insurance?
Magma HDI General Insurance provides 4 types of bike insurance add-on covers to its policyholders that include Depreciation Reimbursement, Return to Invoice, Protection of NCB, and Basic Roadside Assistance.
Is there any compulsion to buy a bike insurance add-on cover?
No, it is not mandatory to include a bike insurance add-on cover in your bike insurance policy. When it comes to add-on covers, they are framed to offer additional coverage to your existing bike insurance coverage and make you enjoy extended benefits by investing a little extra premium amount.
When can I buy and include the Magma HDI bike insurance add-on covers in my plan?
You can purchase and opt for bike insurance add-on covers offered by the Magma HDI Insurance to include in your policy to enhance its coverage either during the purchase of the insurance cover or during the time of bike insurance policy renewal.
Are the add-on covers offered by Magma HDI General Insurance chargeable?
Yes, you will have to pay a little extra amount of premium in addition to the basic bike insurance premium amount to opt for the bike insurance add-on cover.
How many bike insurance add-on covers can I purchase together?
You can purchase as many add-on covers as you wish to own together, which are offered by the insurance company as per your budget and needs. Magma HDI offers 4 add-on covers and you are allowed to include all of those in your policy at a time.
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