Consumable cover in car insurance is an add on to provide the cover for consumable items. These are some items like nuts, bolts, grease, clips, lubricants, oils, washers, etc available in cars that are consumed by the machine.
If you have consumable cover in your policy then its charges are not paid by you at the time of claim settlement.
If you have a basic comprehensive insurance policy and your car gets damaged in an accident. Then the insurance company will not pay the cost of the consumable items. Means at the time of claim settlement cost of consumables is paid by you.
List of Consumable Items
AC Gas oil
And other similar items may be the parts of consumable coverage. Please read your policy documents.
Benefits of Consumable Cover
It actually helps you to save your money in case of any claim. As usually comprehensive policy doesn’t have consumable cover. If you have opted for this add on then you can get maximum claim because the company will not deduct any amount for these consumable items.
If you don’t want to pay the cost of consumable items at the time of claim settlement then you should purchase this add on.
Example, Suppose Mr. A having a car and was going to meet his friend. Suddenly on the way his car got damaged in an accident. He is safe but his car needs to repair it because of lots of damages.
Let’s assume the estimate of repair of his car is Rs. 40000. Now in case, Mr. A has a basic comprehensive policy and that does not cover consumable items.
So, in this case total claim he received Rs.35000 and Rs.5000 company deducted as consumables item. This means the difference of Rs. 5000 will be paid by Mr. A from his own pocket.
But in case of Mr. A is having the consumable cover in his policy then the company will not deduct the cost of consumables. Because he is having the rider for those items.
Exclusion of Fuel
This add on cover almost all the consumable items of the car but the cost of fuel is not covered. The cost of fuel is not paid by the insurance company. However, it may vary from company to company.
Does it Cost Extra Premium?
Yes of course it cost an extra premium. This is an Add on the cover and which is not available in basic comprehensive policy.
So, for consumable cover you can take this add on cover with your comprehensive policy by paying extra premium only. Premium of this may vary from one insurance company to another.
Now a question may run in mind that if your car didn’t get damaged in an accident. But on regular use of your car, some consumable items get unfit and you want to replace it. Does the company will pay any claim for this kind of replacement?
Answer is NO.
This claim will not be paid because the insurance company doesn’t pay you for a normal replacement.
The cost of consumable is payable only when requirements arising out due to an accident and if the claim is ok by terms and conditions of your insurance policy. Normal replacement will not be covered by this add on.
Should You Purchase This Add On or Not?
It totally depends on you. If you ask my personal advice then I will advise you to take consumable covers in your car. However, it totally depends on your decision because the cost of consumable may vary from vehicle to vehicle.
Components used in different cars may be different. It varies according to manufactures and models of the cars.
Cost of consumable items of some cars like luxury and expensive may cost a huge amount and some small cars may cost less.
You should take this or not it also depends on your budget for a car insurance policy. you can compare and make an estimate for it then you can take better decisions.
Claim Process and Documents
I will advise you to always try to file a claim on network garages of the company. If you making repair of your car on the network garage of insurer then you may get your claim on a cashless basis. Normally you should inform your insurer on time if any claim required.
You have to submit bills and receipt.
Policy documents of your car
RC n Car details
May be required other documents also it depends on case to case basis.