How to Ensure Coverage for Common Spares Under Your Car Insurance Policy?

Once you have purchased your desired car, the next is to decide upon a suitable car insurance policy. The law, Motor Vehicles Act of 1988, makes it mandatory to have a motor insurance policy for all registered vehicles in the country. So, dealers often try to sell you a car insurance policy alongside your car. 

There are essentially two types of car insurance plans that can be bought - third-party/liability-only plan or a comprehensive policy. You can buy car insurance online too, both types of plans. A liability-only policy safeguards you from third-party legal liabilities that become payable in the event of a mishap causing damage or injury to a third person. While this coverage is limited in its scope, a comprehensive policy can be used. With a comprehensive plan, any damage to your car is also covered by your insurance cover. This way, you no longer need to worry about repair costs to your car. However, there is something you should know about comprehensive plans as well. 

The claim amount in a comprehensive policy does not consider the depreciation when making a pay-out. Also, the repair costs for common spares do not form part of the policy cover. For these situations, comprehensive plan can be topped up with an add-on facility. Using an add-on cover, the coverage can be customised to fit your requirements and include the above costs that are otherwise excluded from the scope of comprehensive car insurance. Consumables cover is one such add-on. Let’s learn more about it. 


What is consumables cover in car insurance?

A consumables cover is an additional facility that is available so that all those minor repairs that are required to your car are included in the settlement amount. Without this add-on cover, you might be required to pay from your pocket for these spares. Since consumables are spares that have specific and limited use, these products cannot be used for an extended period and need replacement. Fluids and oils used in your car, nuts and bolts, bearings, washers, etc are examples of consumables that are required and form part of this add-on cover. 


Is there an additional levy for consumables cover?

Yes, since consumables cover can be bought as an add-on, you need to pay for it over and above the comprehensive car insurance premium. A car insurance calculator can come handy to estimate the increase in your premium since the cost of this add-on differs among each insurance company and also for every model of the car. 


What spares are included in the consumables add-on?

Consumables add-on cover includes the replacement cost of the following items at the time of a claim application - 

  • Oil and oil filters required for engine oil, gear oil and brake oil.
  • Any cost of nuts and bolts required in the repair. 
  • Lubricants that are required by the vehicle.
  • Coolants and other fluids that may be required in your car.
  • Washers and other similar items excluding fuel.

Be it you first time policy purchase or car insurance renewal, a consumables add-on cover ensures an all-round coverage for the repair costs of your vehicle. Coupled with this add-on, a zero-depreciation cover or bumper to bumper insurance can come handy that does not deduct the depreciation on your spares and pays the entire amount of claim. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale. 

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