What are The Consumables in Car Insurance?

What are The Consumables in Car Insurance? A car insurance policy enables you to obtain the necessary financial protection against a variety of damages and thefts. Vehicle owners must always have their motor insurance with them while driving. A variety of damages and thefts are covered by a comprehensive car insurance plan.

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 While third-party liability insurance is a legal requirement for all vehicle owners, some prefer to take additional insurance to boost their degree of protection. In return for your premium payment to obtain this coverage, the insurance provider undertakes to pay for accidental damages and theft losses. To protect against any unforeseen losses, think about purchasing car insurance for your vehicle.

According to Indian law, having motor insurance is a requirement. Anyone who operates a vehicle without a valid insurance policy faces severe fines. When purchasing car insurance, it is crucial to comprehend what type of coverage is included. Everyone always wants to be able to drive without worrying. Despite your efforts, your vehicle may encounter unforeseen roadside situations, such as big or minor accidents, breakdowns, tyre bursts, natural or man-made calamities, and so on.

In such circumstances, car insurance is the best option for relieving your financial troubles. Protection is provided for monetary losses caused by any unlucky incidents affecting your car under all types of car insurance, according to the particular terms and circumstances of your policy.

What are Consumables in Car Insurance?

Consumables are items that have only one limited use. These items cannot be used again after being used once. These things require regular updating due to wear and tear. Some examples of these products include engine oil, ball bearings, nuts, bolts, washers, brake fluid, screws, lubrication, and AC refrigerant. You must be aware that the list of consumables is extensive. Even though each part may seem to be of very minimal importance, they are all essential for a car to operate.

Costs associated with consumables would not be covered by your comprehensive car insurance policy. In order to replace the consumables at the time of the claim, you would have to pay out of pocket. But consumable cover, which is optional insurance, will cover the cost of consumables in the event that they need to be replaced or refilled after an accident.

Does Consumable Cover Cost Extra?

Many consumers think that having comprehensive motor insurance will protect them from any unforeseen expenses involving their vehicle. However, that is only partially accurate. In reality, comprehensive coverage only covers required third-party duties and damage to the covered vehicle; it does not cover consumable costs.

It is true that the cost of consumables for car insurance is additional. The reason for this is that comprehensive car insurance doesn’t cover these consumable items. Furthermore, it is important to remember that the consumable add-on cover varies depending on the model of the car. It’s crucial to keep the following things in mind before picking consumables for car insurance:

Only claims that are approved under the “own damage” part of the policyholder’s comprehensive car insurance are eligible for filing under this add-on coverage. This would imply that a claim cannot be made for the cost of consumables under a third-party vehicle’s auto insurance.

The vehicle components must be fixed within three days after the collision if the claim is considered genuine. As a result, whenever an accident occurs, one must notify the insurer right away. Typically, this add-on applies to vehicles that are no more than five years old.

What Does a Consumable Cover Include?

With the exception of fuel, related goods include engine oil, gearbox oil, nuts and bolts, grease, washers, oil filters, lubricants, power steering oil, AC gas oil, radiator coolant, and everything else of the sort.

You can acquire coverage for replacing parts or things that become damaged due to normal wear and tear by adding the consumables cover add-on to your basic policy. These materials are continuously used by the car and lose their usability after a certain amount of time. 

The costs of replacing consumable items are included in this list of consumables. The following goods are typically covered by the consumables in auto insurance:

• All varieties of lubricants, including coolant, braking fluid, steering fluid, and engine oil.
• Your car’s refrigerant or AC gas
• All kinds of filters, including engine, air, and dust filters.
• Bolts, nuts, washers, screws, oil, and other essential supplies

Which Items Are Excluded From a Consumable Cover?

It’s important to keep in mind that the consumables coverage in an automobile insurance policy only covers consumable costs, not gasoline or power costs. Additionally, an insurer may reject the claim for consumables in any of the following circumstances:

• While driving, you lacked a valid license.
• You were using alcohol or drugs while driving.
• You were operating a personal vehicle for business.
• This policy does not provide coverage for mechanical or electrical breakdowns.
• You didn’t notify the insurance provider right away.
• Vehicle component deterioration.

What Prerequisites Must You Satisfy to Avail Yourself of the Benefit of Consumable Cover?

• To be qualified to submit a claim under your auto insurance’s consumables coverage, just like with any other policy, you must meet specific requirements. They might consist of:
• Your claim should be filed under your comprehensive auto insurance policy’s “own damage” section. It implies that claims for third-party damages are ineligible for this add-on.
• You should fix or replace your damaged consumable products within three days after the incident. If you make a claim after three days have passed since the accident, your insurer can deny it.
• Cars that are under five years old can typically get this coverage. Consumables coverage in auto insurance is typically not offered for vehicles older than five years.

What Documents are Needed to Submit Claim for Consumables Coverage?

The following documentation must be provided when making a claim under your automobile insurance policy with consumable coverage:

• All payments and repair invoices
• Driving Licence
• Motor insurance policy
• Certificate of Registration

Try to get your automobile fixed at a network garage if you don’t want any complications. Inform the insurer in advance, even if you are taking your automobile to a garage, not in the network.

Conclusion

In case of an accident or vehicle theft, car insurance will shield your car from possible financial losses. Medical expenses, property damage, and third-party Costs associated with consumables would not be covered by your comprehensive auto insurance policy. 

In order to replace the consumables at the time of the claim, you would have to pay out of pocket. But consumable cover, which is optional insurance, will cover the cost of consumables in the event that they need to be replaced or refilled after an accident.