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When buying comprehensive bike insurance, you get basic coverage for the damages caused to your vehicle or third party person or property. When you claim insurance, you may realize that the insurance has deducted the cost of consumables and you have to bear the expenses for the same. Consumables in the bike include bolts, nuts, screws, grease, etc. Basic comprehensive bike insurance does not provide coverage for consumables, but an add-on cover does. Buying consumables as an add on cover can help you get additional coverage, without increasing the out of pocket expense at the time of claim. You can think of purchasing consumables add-on by paying an additional premium.
Consumables of a vehicle refer to the parts or factors of the vehicle that get consumed when used. These parts or factors cannot be used or repaired again. These consumable items include engine oil, nuts, bolts, lubricants, screw, grease, distilled water, etc. A regular bike insurance policy does not provide coverage for these factors. Buying consumables cover as an add on does provide coverage for these at an additional cost. Purchasing consumable cover as an add on is not mandatory, however, it is ideal to save on out of pocket expenses at the time of claim
For instance, your bike meets with an accident due to which the headlight needs to be replaced using new nuts and bolts. In this case, if you have consumables add on, the cost of nuts and bolts will be covered, however, if you don’t then you will have to pay for the same out of pocket.
No matter how low the cost of consumables is, consumable add on provides coverage which a regular bike policy does not. Consumables also include items like radiator coolant, washers, distilled water, battery, washers, etc. Thus, consumables gives the vehicle owner peace of mind, thereby making him or her feel super secured.
Consumable cover add on provides additional coverage that a regular comprehensive bike cover does not provide. By paying additional premium, you can be rest assured that the bike is well covered in terms of coverage. Though not all consumables cost much, a few items can be very expensive. Here’s how consumables bike insurance add on cover can help:
Consumables add on cover should be ideally purchased opted for by following:
Given below are the inclusions of two wheeler insurance
Consumables add on cover does not provide coverage under below conditions
To purchase consumables add on cover, you need to submit the below documents
Consumables add on cover can be purchased with a base comprehensive bike insurance policy by paying additional premium. The premium for consumables bike add on cover depends on the value of the bike, year of manufacture and location
You can purchase this add on cover at the time of policy renewal or at the time of buying insurance for your new bike. This add on can be purchased either online or offline along with your base bike policy.
You can register claim for consumables add on cover through cashless and reimbursement claim process. Under cashless claim, you can get coverage without having to pay anything out of your pocket if the vehicle is being repaired at a network garage. If your vehicle is being repaired at a garage that does not come under the network of the insurer then you can file for reimbursement claim.
Add-on covers are optional to be purchased along with comprehensive bike policy. However, by opting for add ons you can enhance the coverage of your bike policy.
Yes, all types of consumables are covered under this add on except for cost of fuel
Yes, consumables add on cover comes at an extra cost and the premium is decided based on bike make and model, registration year, etc.