Maintaining a car is an expensive affair, irrespective of the type and cost of the car. In addition to the compulsory insurance, you cannot overlook the cost of replacing and repairing used components on a regular basis.
The individual costs of these components may not be high, but if added together, they make a significant value. Let us understand what consumables are and why you should have a consumable cover as an add on car insurance.
What are Consumables?
Components, which have limited use and need to be replaced on a regular basis, are called consumables. Such components are not reusable and are completely consumed. Consumables include nuts and bolts, lubricants, engine oil, brake oil, oil filter, gearbox oil, coolant, screw, grease, air conditioner gas, etc. Standard car insurance does not cover the cost of replacing consumables. However, with consumables cover add-on car insurance, the cost of these consumables can be reimbursed in case of an accident or theft.
Inclusions in Consumables Add-On Cover
An optional consumables add-on cover can be added to a comprehensive car insurance cover at a very nominal cost. This add-on cover includes the cost of
- Oils and lubricants such as brake oil, engine oil, gearbox oil, coolants, grease, etc.
- Components such as nuts, bolts, screws, washers, oil filters, etc.
- The Gearbox
- Gas of air conditioner
Exclusions in Consumables Add-On Cover
A consumable car insurance add-on cover does not reimburse a claim in certain conditions, which are,
- Fuel expenses
- Mechanical or electrical breakdown
- Wear and tear of car components due to regular usage
- Late intimation to the insurance company
- Driving without licence
- Driving under the influence of drugs or alcohol
Things to consider while adding a Consumables Cover to your car insurance
- A consumable claim is part of the ‘own damage’ section in your comprehensive car policy. Hence, it covers damages caused by accident or theft.
- This cover applies to vehicles that are less than 5 years old.
- A claim under this cover needs to be made immediately within the mentioned time frame, usually 3 days, otherwise, late intimation may lead to rejection of the claim.
- A claim can be made only for the components listed in the policy.
Benefits of Consumable Add-on Cover
- It can be added at a very nominal cost to your comprehensive car insurance
- It helps in saving money on frequent repairs
- It enhances the coverage of comprehensive car insurance
- It gives peace of mind as all the expenses are handled by the insurance company
How to make a claim for Consumables Cover
- Inform the insurance company immediately to start the claim process. Any delay may lead to the rejection of the claim.
- Share all the information and details of the damage with your insurer.
- For cashless claims, take the vehicle to a network garage, where the insurance executive will examine the damage first, the mechanic will repair and the bills are settled between the insurance company and the garage.
- For reimbursement claims, you can get your vehicle repaired at any garage and send the repair bill to the insurance company along with other required documents, such as a police copy. In such a case, you make the initial payment for the repairs, which is later reimbursed by the insurance company. Here, please remember that your claim can be rejected if you do not inform your insurer before going to a non-network garage.
Conclusion
A consumable add-on cover is crucial as it covers specific parts of your car which are not covered in a comprehensive plan. If your car is new and expensive, or you are a new driver, this cover will help in saving a lot of money for frequent repairs. Having extra coverage gives peace of mind. However, it is advisable to drive carefully, to avoid frequent claims. Also, remember to follow timelines and provide all documents for successful claims.
