Magma General Insurance Limited Two-Wheeler Insurance Policy

Coverage Offered under Magma General Insurance Limited Two-Wheeler Insurance Policy

1. Third-party liability - The third-party liability coverage provides protection for your two-wheeler against any liability that might arise from the use of the two-wheelers affecting third parties. Any liability leading to a bodily injury and death of a person or damage caused to any third-party property will be covered under this option.
2. Any loss or damage to vehicle - The package policy provides cover for any loss or damage to your two-wheeler or any of its accessories due to any of the conditions listed below:
   1. Theft, burglary, riots, terrorist activities, and any malicious acts
   2. Damage caused during transit by rail, road, lift, and inland waterway
   3. Fire, self-ignition, explosions, and accidental damage through external means
   4. Earthquake, lightning, typhoon, flood, storm, hailstorm, cyclone, frost, rockslide, and landslide

Exclusions Under Magma Two‑Wheeler Insurance

Any damage or loss to the vehicle or any of its accessories will not be covered if it happens due to any of the following reasons listed below:

1. Electrical or mechanical breakdown
2. Damage to or by a person who does not possess a valid driving license
3. Damage to or by a person who is under the influence of alcohol or drugs
4. Normal wear and tear and aging of the vehicle
5. Violating the Limitation As to Use clause provided in the policy during the use of the motor vehicle
6. Consequential losses or depreciation

Add‑On Covers Offered by Magma Two‑Wheeler Insurance

Additional covers can be availed for Magma General Insurance Limited two wheeler insurance at a nominal cost. The following additional cover can be availed to increase the cover you get for your vehicle:

1. Personal Accident Cover - A compulsory accident cover of Rs.1 lakh will be provided for two-wheelers that have individual owners. This add-on cannot be availed for any company-owned vehicle. You along with the other occupant in the vehicle will be offered a cover of Rs.1 lakh per person. It is to be noted that this will be valid only if the owner possesses a valid driving license.

Discounts Available

Other than the additional cover, there are also some other discounts one can avail. These discounts have been listed below:

1. No Claim Bonus (NCB) - No Claim Bonus is offered at the time of policy renewal if you have not made any claims during the policy period. This bonus can go up to 50%, provided the policy is renewed before the completion of 90 days from the date of expiration of the policy. The benefits of the No Claim Bonus can also be transferred when you are switching from one motor insurance company to another.
2. Anti Theft Devices - In case the vehicle has an ARAI approved anti-theft device installed, you can avail a discount of 2.5% on the Own Damage premium up to a maximum of Rs.50 for two-wheelers.

Magma General Insurance Limited Two-Wheeler Insurance Claim Process

In case the two-wheeler breaks down, meets with an accident, or is stolen, the policyholder can make the claim by following the steps mentioned below:

Intimation

1. Magma General Insurance Limited has to be immediately intimated about the policy, place of the accident, and the driver.
2. The details about the workshop where the repairs will be carried out will also have be intimated to Magma General Insurance Limited.
3. The vehicle should be left unattended at the spot where the accident took place.
4. In case of a theft, an FIR has to be lodged immediately in the local police station.

Repairs

1. It is advisable to shift the vehicle to a Magma General Insurance Limited Preferred Workshop to get the repairs done.
2. It is necessary to wait for advice from the surveyor after inspection before proceeding with repairing the vehicle.
3. It is good to be at the workshop when the surveyor carries out the inspection at the workshop.
4. Unless stated otherwise, new parts should be used only in the parts of the vehicle where replacement has been approved.
5. After completing the survey process, the surveyor will be communicating the loss assessment details to the policyholder.

Post Repairs

1. Magma General Insurance Limited has to be intimated for doing the post repair re-inspection.
2. If the repairs have been in an Magma General Insurance Limited Preferred workshop, only the difference amount as per the Surveyor assessment will have to be paid to the workshop.
3. In case repairs are done in other workshops, the amount will have to be settled directly and the bills will have to be submitted to Magma General Insurance Limited in original.
4. Magma General Insurance Limited has to be notified if the repairs have not been carried out as advised by the surveyor. They can also be intimated if you do not feel satisfied with the repairs done.

Documentation

1. All the documents will have to be submitted as per the checklist. This will also depend on the nature of the accident. The documents will have to be submitted either to the surveyor or at the nearest Magma General Insurance Limited office.
2. Originals will have to be provided along with the photocopies for verification purposes.
3. Don't enter into an agreement with anyone about the claim incident who is not authorised by Magma General Insurance Limited.
4. Magma General Insurance Limited or the surveyor will intimate you if any additional documents are required to be submitted.
5. Make sure that all the documents submitted to Magma General Insurance Limited or the surveyor possesses genuine information.

Settlement

1. The claim settlement discharge voucher can be executed instead of accepting the settlement proposed by Magma General Insurance Limited.
2. The claim will be settled by Magma General Insurance Limited before the completion of 7 days from receiving the receipt of answers and complete documentation to the queries raised.

Documents Required for Claim Process

In case of an accident claim, the following documents will have to be submitted to make the claim:

1. A Registration Certificate (RC) copy along with the original to verify the Registration Certificate
2. Claim form filled by the insured
3. Police First Information Report (in cases where it is applicable)
4. Driving license copy along with the original for verification purposes
5. Repair or replacement bills originals (this is when you are applying for a reimbursement claim)
6. A fire brigade report in case of a fire
7. Images of the damaged vehicle taken after the accident
8. Discharge voucher

In case of a theft claim, the following documents will have to be submitted to make the claim:

1. Claim form filled by the insured signed in the required places
2. Copy and original of driving license for verification
3. Copy and original of Registration Certificate for verification. If the claim is being made for a total theft, the original RC will have to be surrendered
4. Original bills of repair or replacement done (this is for reimbursement claims)
5. Report from Fire Brigade (in case of a fire)
6. Police First Information Report
7. Photos of damaged vehicle
8. Vehicle keys (entire set)
9. Power of attorney and subrogation in a situation of total loss and theft
10. Final report - trace report has not been received for the lost vehicle by the police
11. In case of total loss and theft, an NOC has to be obtained from the lender and submitted for the claim process
12. Indemnity bond
13. Discharge voucher