Stand Alone Od Two Wheeler -++ Magma Insurance
STAND ALONE OD TWO WHEELER
Additional Covers
Going for additional covers for your favorite vehicle will not cost much, but will deliver a great value.
Available Discounts
No Claim Bonus
If you do not make a claim during the policy period, a No-claims bonus (NCB) is offered on renewals. This discount can go as high as 50% (NCB will only be allowed provided the policy is renewed within 90 days of the expiry date of the previous policy).
Transfer of NCB: You can also transfer full benefits of No-claims bonus when you shift your Two Wheeler Insurance Policy from another company.
Anti-Theft Devices
If you have installed anti-theft devices approved by the Automotive Research Association of India (ARAI) in your two-wheeler, you can avail 2.5% discount (or up to Rs 500) on your own-damage (OD) Premium.
Loss or damage to the vehicle
The package also provides cover against any loss or damage caused to your two-wheeler or its accessories due to the following occurrences:
- Fire, explosion, self-ignition, accidental damage by external means.
- Any damage in transit by road, rail, air, inland waterway, lift or elevator.
- Lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide.
- Burglary, theft, riot, strike, malicious act, terrorist activity.
While we make every effort to give you the best possible services, any loss of/damage to your two-wheeler and/or its accessories will be not be covered if caused by any of the following
- Normal wear and tear as well as general ageing of the two wheeler
- Depreciation or any consequential loss
- Mechanical/electrical breakdown
- Damage by driving the two wheeler without a valid licence
- Damage by driving under the influence of drugs or liquor
- Loss/damage due to war, mutiny or nuclear risk
- Use of the vehicle in violation of the Limitation as to use clause, mentioned in the policy.
Sum Insured
We insure your two-wheeler at a fixed value called the Insured's Declared Value (IDV).
The IDV is calculated on the basis of the manufacturer's listed selling price of the two-wheeler (plus the listed price of any accessories) after deducting
the depreciation for every year as per the following rates.
05%
Depreciation for vehicle
NOT EXCEEDING 6 MONTHS
15%
Depreciation for vehicle
EXCEEDING 6 MONTHS BUT NOT EXCEEDING 1 YEAR
20%
Depreciation for vehicle
EXCEEDING 1 YEAR BUT NOT EXCEEDING 2 YEARS
30%
Depreciation for vehicle
EXCEEDING 2 YEARS BUT NOT EXCEEDING 3 YEARS
40%
Depreciation for vehicle
EXCEEDING 3 YEARS BUT NOT EXCEEDING 4 YEARS
50%
Depreciation for vehicle
EXCEEDING 4 YEARS BUT NOT EXCEEDING 5 YEARS
Have us call you
- RENEW YOUR POLICY
- BUY NEW POLICY