Maintaining a car is an expensive affair, regardless of the kind or cost of the vehicle. In addition to the mandatory insurance, the expense of replacing and repairing utilised components on a regular basis cannot be overlooked.
These components’ individual prices may not be considerable, but when taken collectively, they have a substantial value. Let me define consumables and why you should have a consumable cover as an add-on to your automobile insurance.
What exactly are consumables?
Consumables are components that have a limited lifespan and must be changed on a regular basis. Such components are not reusable and must be discarded. Nuts and bolts, lubricants, engine oil, brake oil, oil filter, gearbox oil, coolant, screw, grease, air conditioner gas, and other consumables are examples. The expense of replacing consumables is not covered by standard automobile insurance. However, with add-on auto insurance for consumables, the cost of these consumables may be refunded in the event of an accident or theft.
Consumables Inclusions Add-On Protection
A consumables add-on cover may be added to a comprehensive auto insurance policy for a very low fee. This extra coverage covers the cost of
- Brake oil, engine oil, gearbox oil, coolants, grease, and other lubricants
- Nuts, bolts, screws, washers, oil filters, and so on are examples of components.
- Gearboxes
- Air conditioner fuel
Consumables Exclusions Add-On Protection
A consumable automobile insurance add-on protection does not pay a claim in the following circumstances:
- Gasoline costs
- Mechanical or electrical failure
- Car component wear and tear as a result of continuous use
- Intimation to the insurance company was received late.
- Driving without a driver’s licence
- Driving when high on drugs or booze
Things to consider while adding a Consumables Cover to your car insurance
- A consumable claim is included in the ‘own damage’ portion of your comprehensive auto insurance policy. As a result, it covers damages caused by an accident or theft.
- This coverage is only available for automobiles that are less than 5 years old.
- A claim under this policy must be submitted within the specified time limit, which is generally three days; otherwise, late notification may result in the claim being rejected.
- Only the components stated in the insurance are eligible for a claim.
Advantages of Consumable Add-on Coverage
- It may be added to your comprehensive auto insurance for a very low rate.
- It aids in the reduction of costs associated with routine maintenance.
- It broadens the scope of comprehensive auto insurance coverage.
- It provides peace of mind since the insurance provider handles all of the expenditures.
READ ALSO: 10 ways to reduce car insurance premium
How to File a Consumables Coverage Claim
Notify the insurance company right away to begin the claim procedure. Any delay may result in the claim being rejected.
Share all of the damage information and specifics with your insurance.
Take the car to a network garage for cashless claims, where the insurance executive will inspect the damage first, the technician will fix, and the costs will be cleared between the insurance company and the garage.
For reimbursement claims, you may have your car fixed at any garage and then submit the repair bill to the insurance company together with any necessary papers, such as a police copy. In this situation, you pay for the repairs up front, and the insurance company reimburses you afterwards. Please keep in mind that if you do not notify your insurance before visiting a non-network garage, your claim may be denied.
Conclusion
A consumable add-on policy is essential since it covers particular sections of your vehicle that are not covered by a comprehensive plan. If your automobile is new and costly, or if you are a rookie driver, this coverage will save you a lot of money on regular repairs. Having additional coverage provides peace of mind. To prevent frequent claims, it is best to drive cautiously. Also, remember to adhere to deadlines and present all required documentation for successful claims.
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