Insurance is like a spare tyre. You may not require it, but not having one is not an option.
  • Consumables Cover of your Auto Insurance Policy

    Consumables are substances used in vehicles that have very specific uses, and once they have been used, they are completely consumed and become unfit for future operation. Consumables include materials like screws, engine oil, nuts and bolts, fuel filter, lubricants, brake oil, grease and air conditioner gas.

    Does The Comprehensive Car Insurance Package Include Consumables?

    The comprehensive auto insurance policy does not usually cover consumables. A separate add-on cover needs to be purchased and appended to the regular insurance to protect the consumables in the vehicle. In such cases, you will be required to pay an additional amount towards the premium that corresponds to the car?s consumables.

    What Conditions Should Be Met For Honouring Consumables In The Insurance Claim?

    Since the coverage for consumables is an add-on to the comprehensive plan, there are certain conditions that need to be satisfied for it to be honoured at the time of a car insurance claim.

    • For a consumable claim to be accepted, it should be labelled as admissible under the section pertaining to own damage of the comprehensive insurance policy. For this, you will have to read through your insurance policy documentation and get familiar with the clauses included within. Familiarising yourself with the terms and conditions will also be useful at the time of an insurance claim following an accident or theft.
    • For the claim to be honoured, it is also required to repair the car consumables within three days from the date of theft or accident. If the repair is not done within that time, the claim will be rejected; so you should ensure that you abide by the prescribed time limits.
    • This add-on cover is available only for cars that are less than five years old. Vehicles that are older than this cannot be protected under this scheme.
    • In line with the other add-on covers for car insurance, you are advised to carry a valid driving license and a copy of your insurance documents in the car at all times. In case you are not in possession of these at the time of an accident, your insurance claim will be invalidated.
    • The car consumables insurance does not make you eligible for cover under situations such as driving under the influence of intoxicants, driving maliciously, consequential damages, breakdown, wear and tear, or depreciation of the vehicle parts. Also, using a private vehicle for commercial purposes will lead to a claim rejection.
    • A consumables cover enhances the comprehensive car insurance policy. So, just as in the case of general car insurance claims, it is optimum to report incidents of theft or collisions without any delay, in order to ensure that there are no refusals of claims.

    Conclusion

    The add-on cover of consumables protects more specific parts of the vehicle than a regular auto insurance policy. Hence it is very important to understand the clauses in the policy before making an insurance claim for consumables.

    Practise defence driving on the roads, so as to avoid collisions and subsequent car insurance claims. However, in the event of a mishap, you should look to file a compelling auto insurance claim within the specified time limit. You will have to submit all necessary documents duly filled in and attested. After an incident, if you follow the basic rules for raising a motor insurance claim, there are good chances that your claim will be approved and your expenses reimbursed.

    Read More On Car Insurance

    GST Update: GST of 18% is applicable on car insurance effective from the 1st of July, 2017

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