Consumables Cover - Oils, Nuts, & Bolts?

Consumables Cover In Car Insurance! Is It Much Ado About Nothing?

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.

What Are Consumables In Cars??

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.

Comprehensive Car Insurance – Does This Policy Cover Consumables?

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.

Consumable cover – The Concept

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.

Consumable Cover – Does It Cost Extra?

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.

Consumable Cover – What Does It Cover?

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.

• -All kinds of lubricants and oils like engine oil, brake oil, radiator coolants, power steering oil, and AC gas.
• -Vital items like nuts, bolts, screws, washers, grease
• -Filters, etc.

In fact, this consumable add-on policy covers every consumable item except fuel.

Consumable Cover – What Are The Conditions To Satisfy?

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.

• -An important point to note here is that the claim should be admissible under the section- I of policy pertaining to damages to own car. This entails that third party damage is not eligible for any claim under this add-on
• -This claim is available for cars that are up to 60 months old. Cars older than 5 years do not get protection under this add-on cover generally.

Consumable cover – What Are The Exclusions?

• -As is the norm with other claims, you should be in possession of the valid driving license and insurance policy documents in order to be eligible for protection. In case you are not in possession of these documents at the time of the accident, the insurance company can invalidate the claim.
• -You should not be driving under the influence of alcohol.
• -Similarly, driving a private vehicle for commercial purposes make you ineligible for lodging this claim.
• -Electrical and mechanical breakdown is not eligible under this policy.
• -Normal replenishment of engine oil and other consumables are not admissible under this policy cover.
• -There should not be any delay in informing the insurance company.

Consumable cover – Who Should Opt For This Cover?

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.

• -Any vehicle not older than 60 months is eligible for this add-on insurance cover.
• -People who do not wish to incur minor repairs like cost of engine oil replacement, etc should opt for this cover.
• -This add-on cover protects you from these minor repairs and replacement costs.

Consumable cover – Can We Have An Example?

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.

Consumable cover – What Are The Supporting Documents?

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:

• -Submit all bills and receipts for the repairs.
• -As far as possible, contact the network garages listed by the insurance company for conducting the estimates and repairs.

Consumable Cover – Frequently Asked Questions

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.

Summary

Let us summarise the information in brief.

• -Consumables are parts that require regular replacement like engine oil, etc
• -Your comprehensive insurance policy does not cover cost of consumables.
• -You need a special add-on cover to cater to such expenses.
• -You need to pay an additional premium to avail this cover
• -Be aware of the conditions of this add-on policy
• -There are certain exclusions as well
• -Submit all supporting documents for a hassle-free insurance cover.

Final thoughts on Consumables Cover In Car Insurance

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.