Consumables cover in car insurance is often a small but much forgotten thing–but if you like your claims to be paid by the insurance provider as much as possible, you should definitely have a look at this!
You have a comprehensive insurance policy for your car. Do you feel that this a truly comprehensive one?
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 a special consumables cover in car insurance to take care of these aspects. We shall look at the add-on cover that takes care of the consumables in your car.
In simple – terms, consumables are items that require regular replacement because of continuous wear and tear. You can also define consumables as components those are – consumed by the machine.
Let us see the items that qualify as consumables in cars. There are many items in a car serving a specific purpose and are consumed with age, use of vehicle or turns into of no use with incidental dismantling. Hence, they are not fit for any further use. The best examples of consumables in cars are engine oil, brake oil, lubricants, AC refrigerant, grease, ball bearings, screws, nuts, bolts, washers, and so on. The list is a long one. They look very trifle, but have a very important role to play in the proper functioning of a car.
The answer is a comprehensive NO. The comprehensive car insurance does not cover the cost of consumables. A separate consumable cover is necessary to take care of these aspects.
As your comprehensive car insurance policy does not compensate the cost of the consumables, you have to pay for the same from your pocket. A consumables cover in car insurance can help you take care of this vital aspect. You can take a consumable cover as an add-on arrangement to the comprehensive insurance policy.
Naturally, it will because it is not a part of the comprehensive car insurance policy. This add-on cover premium differs from model to model.
The consumables in car insurance are those items that are subject to the constant wear and tear. They are continuously consumed by the car during its life or rendered unfit for further consumption upon dismantling. This add-on cover compensates the cost of replacing these following consumable items.
In fact, this consumable add-on policy covers every consumable item except fuel.
Just like any other car insurance add-on policy, one should ensure the satisfaction of the following conditions for honouring this claim. You need to be familiar with the various terms and conditions of this add-on policy cover. This can be useful to you while claiming insurance following theft or accident.
This consumables cover in car insurance depends on the make and model of the car. This is because the components used in different models can be different.
We shall see a very simple example. This is purely for illustrative purposes. The actual costs can vary depending on the circumstances.
There is a possibility that you might be involved in an accident while driving your vehicle. You call for an estimate for the cost of repairs. Let us assume it costs an amount of Rs 18,000. This amount includes the cost of replacement of damaged parts of the vehicle as well as repairing / replacing of consumables like engine oil, nuts, bolts, washers, and other minor parts. Your normal comprehensive car insurance policy does not cover the cost of repairing or replacement of consumables. Your eligibility comes to around Rs 15,000.00. (We have not accounted for the depreciation factor and the mandatory deductibles for the sake of simplicity) This entails you have to bear this difference of Rs 3,000 towards the cost of consumables. An add-on consumable cover can take care of these expenses thereby enhancing your comprehensive car insurance policy.
Your insurance company has the details of your car and its insurance policy. In order to expedite the honouring of your claim you should ensure the following:
Can I claim compensation under this add-on policy for the normal replenishment of engine oil and radiator coolants etc?
Strictly speaking, you cannot do so. This claim does not allow you reimbursements for normal replenishments. However, if you carry out repairs to your vehicle arising out accident which is admissible under the Policy that necessitates replacement of such lubricants, you are eligible for cover.
Does this add-on insurance policy cover all consumables?
Yes, this policy covers all consumables excluding fuel. The list of consumables cover in car insurance is an exhaustive one. The most common consumable items include nuts, bolts, screws, washers, brake oil, engine oil, gearbox oil, power steering oil, radiator and AC gas, -, oil filters, wheel balancing weights, and items of similar nature -.
My car is older than 5 years. Can I have this add-on cover in my comprehensive car insurance policy?
Generally insurance companies do not allow consumable cover in cars older than 60 months. But you can always ask your insurance provider, depending on loyalty or business environments—you may be offered one by them.
I have met with an accident in a city different to where I reside. Will this insurance cover be available to me?
Yes, it will be available provided you satisfy the other conditions of this policy. Nowadays, you have insurance companies providing you with mobile apps using which you can inform the insurance companies from anywhere. These apps have facilities for uploading and sending photographs as well.
I am involved in an accident that involves damages to third party vehicle as well. Will my add add-on policy cover the cost of consumables for the third party vehicle?
No, this policy covers damages of consumable to your vehicle alone. Third party claims are not admissible in this policy.
Let us summarise the information in brief.
Insurance of your vehicle is mandatory. However, the normal car insurance policies do not cover the cost of consumables. The cost of replacing consumables in case of an accident can be quite high. It is better to have a separate insurance add-on cover to cater to such expenses. -. Hence, it is better for all eligible vehicles to have this additional cover.
We trust that we have dealt with all aspects of consumables cover in car insurance in this article.
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