Motor Insurance: Consumable Cover
If you've recently purchased a fancy new car, you must know that it requires a significant amount of upkeep. And this is not just about petrol; it's about the ongoing costs of buying air conditioner gas, brake oil, motor oil, etc. These are all examples of items covered under the car insurance consumables category.
Consumables are essentially those parts of your car that have a definite use and, once utilized, are entirely consumed, such as a nut, a bolt, or even oil. Consumables are items that must constantly be replenished or replaced due to constant use or wear & tear.
Any things that are disposed of due to regular wear and tear are referred to as consumables. The following components must be replaced in order to use the consumable cover in motor insurance:
All different types of lubricants and oils, such as brake oil, engine oil, power steering oil, radiator coolants, and AC gas.
Filters of all types, including the AC filter.
Screws, oil, washers, nuts, bolts, and other necessary components are included.
In the following circumstances, a claim is not reimbursed by a consumable car insurance add-on cover:
Daily fuel expenses
Driving without license
Electrical or mechanical failure
Delayed reporting to the insurance provider
Consuming alcohol or using drugs while driving
Wear and tear caused by repeated use of car parts.
Only cars that are less than five years old can be purchased with consumable add-on coverage.
Compared to a regular offline or online car insurance policy, this add-on cover provides coverage for more specific vehicle components as specified in the policy documents.
Vehicle owners must inform the insurer and get the car's consumables fixed within three days after a theft or accident to have their claim fulfilled. The claim is rejected if the owner of the vehicle does not make the necessary repairs in a timely manner.
Consumables claims are only accepted if the consumables are covered under the own-damage portion of the comprehensive insurance policy.
The policyholder will not be reimbursed for any claims made under the consumable add-on insurance if they result from drunk driving, illegal driving, wear and tear, component depreciation, breakdown, or consequential losses.
According to experts, the following people/car owners should think about getting this additional coverage:
A disposable cover is a smart choice if you want to cut down on the cost of minor repairs and maintenance.
If you want to continue driving, you don't have to be concerned about simple fixes or component replacements.
If you own a new or expensive car as you know how expensive consumables are to fix or replace.
It could be covered at a very low price as part of your comprehensive car insurance.
It increases the scope of coverage for complete four-wheeler insurance.
It helps to cut down on the price of routine maintenance.
Because the insurance company manages all costs, it offers peace of mind.
Comparatively to a standard car insurance policy, the add-on consumables cover offers protection for more specific vehicle components. So, it is crucial to comprehend the car insurance policy's provisions before filing an insurance claim for consumables.