What Are Consumables In Car Insurance?
If you're looking for third-party liability insurance for your auto, you probably already know that there are several add-ons you can choose from. One of these add-ons is consumables coverage. But what does consumables coverage do?
Your comprehensive car insurance covers repairs, personal, and third-party liability insurance. However, does your comprehensive car insurance cover everything?
Almost certainly, the consumable parts of your four-wheeler would not be insured. Therefore, including coverage for consumables in your car insurance policy would be essential to protect your vehicle's consumable components.
Consumables
Consumables are goods that serve a specific purpose for a limited time. Once these goods have been utilized, they cannot be reused in the future.
These products must be replaced frequently due to normal wear and tear. Such goods include engine oil, ball bearings, nuts, bolts, screws, brake oil, screws, lubricant, and AC refrigerant.
You must recognize at this point that the list of consumables is lengthy. Each piece may appear to be of minor importance, but they are all essential to the operation of a car.
Consumable cover
Your comprehensive car insurance policy does not include coverage for consumables. Therefore, you would be responsible for replacing consumables at the time of claims out of your own cost.
However, a consumable cover is an additional protection that pays for consumables if they must be replaced or refilled due to an accident.
What will it cover??
A consumable protection plan would include the following:
- Engine oil,
- Power steering oil,
- Grease,
- Gearbox oil,
- Washers,
- Oil Filters,
- Nuts and bolts,
- Lubricants,
- AC gas oil,
- radiator coolant, and other related products except for gasoline.
Will consumable cover cost extra?
Yes, the cost of consumables is additional to car insurance. This is since it is not included in comprehensive car insurance coverage. Additionally, it is vital to remember that the consumable add-on coverage will vary per automobile model.
How does a consumable cover work?
Imagine you were going on a road trip. Your vehicle was involved in an accident and required repairs. The cost of repairs amounts to Rs 15,000.
The 'own damage' portion of your comprehensive car insurance coverage covers repairs totaling Rs 13,000. The remaining Rs 2,000 must be paid for repairing or replacing other consumables such as engine oil and nuts.
If you have a cover for consumables, the entire Rs 15,000 expenditure will be covered, and you would not have to pay a single cent out of pocket. Consequently, a consumable add-on enhances your comprehensive car insurance coverage.
What is the required documentation for claiming coverage for consumables?
First, you must provide all repair-related invoices and bills. The repairs should be performed in a garage part of your insurer's network. If you get your vehicle fixed at a non-network garage or fail to notify your insurer beforehand, your claim may be denied.
Your insurer is already aware of the policy and vehicle specifics, so you need not bother about them.
There are lot of insurance companies in the market offering various insurance policies at different rates. you must compare before buying an insurance policy. search on finndit.com and get the details of insurance policy providers near you.
View Also -
Which Kind Of Insurance Plan Can You Buy For Insuring Your Vehicle?
What Is Comprehensive Bike Insurance?
What Are OD and TP In Insurance?
