coverage of consumables in car insurance! Is it a lot of ado about nothing?
Consumables coverage in car insurance is often a small but largely overlooked thing, but if you want the insurance provider to pay your claims as much as possible, you should definitely take a look at this!
You have an all-risk insurance policy for your car. Do you think this is truly complete?
Reading: What is consumables in car insurance
Strictly speaking, it is not. it does take care of your repairs, third-party insurance, as well as your personal insurance. however, it does not cover the consumable parts of your car. You need special coverage of consumables in car insurance to take care of these aspects. we’ll look at the additional cover that takes care of your car’s consumables.
what are consumables in cars?
In simple terms, consumables are items that require regular replacement due to ongoing wear and tear. you can also define consumables as components that are consumed by the machine.
Let’s look at the items that qualify as consumables in automobiles. There are many items in a car that serve a specific purpose and are consumed over time, vehicle use, or rendered useless by incidental dismantling. therefore, they are not suitable for any other use. The best examples of consumables in automobiles are motor oil, brake oil, lubricants, AC coolant, grease, ball bearings, screws, nuts, bolts, washers, etc. the list is long. They seem very insignificant, but they have a very important role to play in the smooth running of a car.
Comprehensive car insurance: does this policy cover consumables?
The answer is a resounding no. comprehensive car insurance does not cover the cost of consumables. a separate consumable cover is necessary to take care of these aspects.
consumables cover: the concept
As your comprehensive car insurance policy does not compensate for the cost of consumables, you have to pay for them out of pocket. coverage of consumables in car insurance can help you take care of this vital aspect. You can take out consumables coverage as an additional agreement to the comprehensive insurance policy.
consumables cover: does it have an additional cost?
Of course, it will because it’s not part of the comprehensive auto insurance policy. this additional coverage premium differs from model to model.
consumables cover: what does it cover?
Consumables in auto insurance are those items that are subject to constant wear and tear. they are either continuously consumed by the car during its useful life or become unsuitable for further consumption when disassembled. This additional coverage offsets the cost of replacing the following consumable items.
- -all kinds of lubricants and oils such as motor oil, brake oil, radiator coolants, power steering oil and AC gas.
- -vital items such as nuts, bolts, screws, washers, grease
- -filters, etc.
- -an important point to note here is that the claim must be allowable under section-i of the policy relating to damage to the car itself. this implies that third party damage is not eligible for any claim under this plugin
- : This claim is available for cars that are up to 60 months old. cars older than 5 years are generally not protected under this additional coverage.
- -as is the norm with other claims, you must be in possession of a valid driver’s license and insurance policy documents to be eligible for protection. If you are not in possession of these documents at the time of the accident, the insurance company may invalidate the claim.
- -You must not drive under the influence of alcohol.
- -Similarly, driving a private vehicle for business purposes makes you ineligible to file this claim.
- – electrical and mechanical breakdowns are not eligible under this policy.
- -normal replacement of motor oil and other consumables are not admissible under this coverage of the policy.
- -there should be no delay in informing the insurance company.
- -any vehicle that is not more than 60 months old is eligible for this additional insurance coverage.
- -people who do not want to incur minor repairs such as the cost of replacing engine oil, etc. must opt for this coverage.
- : This additional coverage protects you from these minor repair and replacement costs.
- -send all invoices and receipts for repairs.
- -as far as possible, contact the workshops in the network indicated by the insurance company to make estimates and repairs.
- -consumables are parts that require regular replacement like engine oil etc.
- -your comprehensive insurance policy does not cover the cost of consumables.
- -need special additional coverage to cover such expenses.
- -you must pay an additional premium to take advantage of this coverage
- -please note the terms of this plugin policy
- -there are also certain exclusions
- -submit all supporting documents for hassle-free insurance coverage.
In fact, this additional consumables policy covers all consumable items except fuel.
consumable coverage: what are the conditions that must be met?
Just like any other auto insurance add-on policy, the following conditions must be guaranteed to honor this claim. You should be familiar with the various terms and conditions of this supplemental policy coverage. this can be helpful when claiming insurance after a theft or accident.
consumable coverage: what are the exclusions?
consumable cover: who should opt for this cover?
This coverage of consumables in car insurance depends on the make and model of the car. this is because the components used in different models may be different.
consumable cover – can we have an example?
We will see a very simple example. this is purely for illustrative purposes. actual costs may vary depending on circumstances.
there is a possibility that you could be involved in an accident while driving your vehicle. you call for an estimate of the cost of repairs. Suppose it costs an amount of Rs 18,000. this amount includes the cost of replacing damaged parts of the vehicle, as well as the repair/replacement of consumables such as motor oil, nuts, bolts, washers and other minor parts. Your normal comprehensive auto insurance policy does not cover the cost of repair or replacement of consumables. Your eligibility comes to around Rs 15,000.00. (we have not taken into account the depreciation factor and statutory deductibles for the sake of simplicity) this implies that you have to bear this difference of Rs 3,000 towards the cost of consumables. additional consumable coverage can take care of these expenses, thus enhancing your comprehensive auto insurance policy.
consumables cover: what are the supporting documents?
Your insurance company has the details of your car and your insurance policy. In order to speed up the fulfillment of your claim, you must ensure the following:
Supply Cover – Frequently Asked Questions
Can I claim compensation under this additional policy for normal refilling of engine oil and radiator coolants etc?
Strictly speaking, you can’t. this claim does not allow you to be reimbursed for normal refills. however, if you carry out repairs to your vehicle as a result of an accident that is allowable under the policy and requires the replacement of such lubricants, you will be entitled to coverage.
Does this additional insurance policy cover all consumables?
See also : What is HO4 Insurance? – Lemonade Insurance
yes, this policy covers all consumables except fuel. the list of consumable coverage in car insurance is exhaustive. The most common consumable items include nuts, bolts, screws, washers, brake oil, motor oil, gearbox oil, power steering oil, radiator and AC gas, oil filters, wheel balance weights and other items. similar in nature.
my car is more than 5 years old. Can I have this additional coverage in my comprehensive auto insurance policy?
Insurance companies generally do not allow consumable coverage on cars over 60 months old. but you can always ask your insurance provider, depending on loyalty or business settings; they may offer you one.
I have encountered an accident in a city other than where I live. Will this insurance coverage be available to me?
yes, it will be available as long as you comply with the other conditions of this policy. Nowadays, you have insurance companies that provide you with mobile applications with which you can report to insurance companies from anywhere. These apps also have features for uploading and sending photos.
I am involved in an accident that also involves damage to a third party’s vehicle. Will my additional policy cover the cost of consumables for the third-party vehicle?
no, this policy covers consumable damage to your vehicle only. Third-party claims are not admissible under this policy.
let us summarize the information shortly.
Final thoughts on auto insurance consumable coverage
The insurance of your vehicle is mandatory. however, normal auto insurance policies do not cover the cost of consumables. the cost of replacing consumables in the event of an accident can be quite high. it is better to have additional separate insurance coverage to cover such expenses. -. therefore, it is best that all eligible vehicles have this additional coverage.
We trust we have covered all aspects of auto insurance consumable coverage in this article.