When you purchase a comprehensive vehicle insurance policy on your private car, does that cover the vehicle’s consumables as well? Find out in the following article.
According to Investopedia, 'Consumables' is said to be goods used by individuals and businesses that must be replaced regularly because they wear out or are used up. Alternatively, consumables can also be defined as the components of an end product that are used up or permanently altered in the process of manufacturing, such as basic chemicals.
With regard to vehicles, what is meant by the term Consumables?
When discussing cars, vehicles, and such, consumables will come to mean those items or substances which have a very specific purpose, and when applied to their respective uses are consumed completely and thus are unfit for future use. These items include materials such as screws, nuts and bolts, engine oil, brake oil, fuel filter, oil filter, ball bearings, lubricants, air conditioner gas, grease, washers and the like.
Is Consumables covered under the Comprehensive Private Car Insurance Policy Package?
No. Under the aegis of a simple, comprehensive, private car insurance policy that is bought off-the-rack from an agent or a dealer, car consumables are not usually covered.
So what do you do? Well, the situation can be easily remedied. You can opt to purchase a separate add-on cover in addition to your regular car insurance policy. Under such circumstances, other than paying the regular premium, you will be required to pay an extra amount that will be towards insuring your car’s consumables separately, under the extended cover package.
Are there any specific Conditions that will apply in the case of an add-on cover?
As this is a special cover that is being added on top of a regular insurance policy, special conditions will definitely apply to the consumables cover. There are, however, certain common threads that run through the add-on consumable covers offered by most insurance companies.
First, for any consumables claim to be admissible, and hence payable, under the consumables add-on policy, it should be acceptable under the ‘Own Damage Section’ of the comprehensive policy. Read and become familiar with the Own Damage Section of your comprehensive car insurance policy document in addition to the add-on policy document to clearly understand the terms and conditions. In this way, in the case of an accident or theft, you already know what to file a claim for and what is not covered under the policies package.
In addition, this condition has another related point — repairs to your car consumables are to be necessarily undertaken within three days from the date of the loss or theft. If this window is exceeded, your policy claim stands to be invalid, so it is important to stay within the permissible time limits.
One more thing to remember is that this add-on policy cover is usually only available for vehicles up to the maximum age of five years. Any car that exceeds this age limit is usually not allowed the security blanket of the consumables policy cover. Do you have the usual formalities in place?
Just because we are discussing an add-on cover here does not mean that the first level of hygiene does not apply to this cover. Just like the usual, regular car insurance policy covers, even in the case of add-on covers you are required to always maintain a valid driving license and an insurance policy copy on your person at all times. Do not let these essentials be absent and/or never let them lapse.
Just because you have the car consumables insurance in place, it is not a license to drive illegally or maliciously, or under the influence of alcohol or other intoxicants. This cover also does not make you eligible for cover under such exempted circumstances as consequential, the wear or tear of vehicles, breakdown or depreciation.
Also, if you use your private car for any commercial purpose, your consumables cover may stand invalidated, as is the case with any regular car policy.
As stated earlier, your car consumables add-on policy is only valid if you ensure that the necessary repairs are carried out within the permissible time window from the time of the incident. In most cases, this period is only three days.
Do not pass over the ground rules just because you have an add-on cover in place. Remember it works in conjunction to your comprehensive car insurance policy, not in place of it. Hence, in order to ensure better insurance claim approval status, as always, avoid any delay in reporting an incident. Follow the time frame stated by the insurer within which to report and file insurance claim. It is always a great thing to carefully read the policy document and the fine print to ensure that you are aware of all clauses, as each insurance company may offer certain different terms and clauses.
Car Consumables Cover, at a glance
A car consumables cover is an add-on cover policy. So it is one that is more car-specific than the regular car policy. This makes it all the more important to access and understand the rules when making a car consumables insurance claim.
Practice safety in the way you drive your car and, most importantly, when the need arises – in the way of an accident, theft, natural or man-made calamity – to file a compelling car insurance claim, do so with all the necessary documents in place and duly attested. Follow the rules while making an insurance claim after any vehicle incident and you are assured that there is a good chance of it being approved.
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