What is Consumables Cover in Car Insurance?
by Abdul Aziz Mondal Insurance 10 November 2020
When you purchase a new car, you are responsible for its maintenance and security. Often this can cause a huge strain on your finances. For this purpose, a car insurance policy is highly beneficial. But general insurance for a car only offers coverage for general repairs, third-party damage, and personal loss. However, the consumables of your car are excluded; the repairs of which could cause a significant burden on your pocket. Hence, to assure 100% security of your prized possession and also maintain your budget, it is always advisable to get a consumables add-on.
Here is all you need to know about a consumable cover:
What are consumables in a car?
In reference to your car, consumables are components used by the vehicle. These items suffer general wear and tear, and thus, require replacement from time-to-time. Some examples of consumables in a car include engine, fuel filter, oil, brakes, clutch pads, lubricants, screws, washers, nuts and bolts, air conditioner gas, etc. Each of these consumables plays a critical role in the overall functioning of the car. Hence, it is important to renew, replace, or repair them timely.
What is a consumable cover in car insurance?
A consumable cover is an add-on to an existing car insurance policy, which pays for the replacement, renewal, or repair of consumables in your car. Comprehensive car insurance online only offers financial protection against personal loss, third-party claims, and repairs. However, consumables are not included. Therefore, in case of damage or accident, you have to bear the burden of these expenses. But with a consumable cover add-on, even the car’s consumables come under the insurance protection. So, in the event of replacement or repair, the car consumable cover pays for the charges. However, the damage must have been because of an accident or a specific event covered under the contract terms.
What does a consumable cover include?
A consumable insurance add-on offers financial protection against all consumables explicitly listed in your insurance policy. The add-on compensates for the following consumables:
- All lubricants and oils like brake oil, gearbox oil, power steering oil, AC gas, engine oil, radiator coolant, etc.
- Supporting items like washers, nuts and bolts, grease, screws, etc.
What should you know before buying a consumable cover?
Since a consumables cover differs from a car insurance policy online, here are some things you should know:
- Consumables claims must be eligible as under the ‘Own Damage’ section of your comprehensive insurance plan.
- All incidents of a claim like theft, collision, accident, etc. must be reported immediately to avoid delays in claim settlement.
- In case of theft or accident, damage to consumables must be repaired, within three days. Not complying with the timelines could lead to claim rejection.
- The consumable cover is available only for cars less than five years old.
- Consumable cover claims will not be entertained, in case the policyholder was driving the vehicle under the influence of alcohol or any other substance.
- The consumable cover is not applicable for any consequential damage, depreciation, electrical or mechanical breakdown, or wear and tear of the items.
- For admissible claims, the vehicle owner should be in possession of a valid driving license and active insurance policy documents.
- Consumable cover claims made for a private vehicle being driven for commercial purposes can lead to rejection.
- Consumable cover claims are eligible only for a personal vehicle and not for third-party vehicle damage.
Specific policy terms vary for each car insurance company in India. However, if the car insurance companies in India find any violation of rules, the consumable cover claim could be termed invalid. So, best is to read all terms and conditions of the consumables cover to avoid any complications.
Who should take a consumables cover?
A consumables cover offers extended coverage for specific parts of the vehicle, which are otherwise not a part of the usual car insurance policy. Thus, it is advisable for all vehicle owners, who have a car not older than five years, to take a consumable cover add-on with their comprehensive insurance for the car. A consumable cover will help minimize the expenses on small repairs and maintenance, which would otherwise burden your pocket.
How do I file for a claim in a consumables cover?
The claim process of a consumables cover is similar to your car insurance online. You must immediately inform the insurance company about the damage to the consumable and provide the necessary proof. You would also need to submit the bills and receipts of the repairs to expediting the claim process. Ideally, it is best to get your consumable repair done through one of the garages listed in the networks of your insurance company. In some cases, repairs of consumables at a garage not authorized by the insurance company could also render the consumable claim invalid. Hence, it is always advisable to inform the insurance company immediately and know the claim steps to minimize any financial risk.
Overall, a consumables insurance cover is a must-have add-on to ensure complete financial protection for your car. If you are aware of the terms and rules of the contract, your consumables cover will surely prove as a reliable asset for you.
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