Consumable Cover in Motor Insurance - What all is covered?

The majority of the people who buy zero depreciation motor insurance policies are under the impression that in case of an unfortunate accident they won't have to pay anything. But, even with zero depreciation cover there are a host of expenses that have to be borne out of your pocket until you purchase the specific add on cover. We talked about the benefits of engine protection cover a few weeks ago. Today we will discuss another important but often overlooked add on i.e. the Consumable Cover.

Consumables are those items which are subject to general wear and tear and can't be reused once they are installed. The example of consumables are nuts, bolts, AC gas, engine oil, gear oil & other lubricants, radiator coolant, weight balances, and other such things which once used can't be reused. Nuts and bolts can't be refitted once the car is dismantled for repairs. The cost of consumables is usually small in comparison to the total insurance claim but if you don't want to shell that small amount then this cover is for you. Also, in the case of high-end cars, the cost can run into a couple of thousands.

In case of an accident under the normal comprehensive cover with zero depreciation and engine protection cover the cost of consumables isn't covered. With the add on cover, the consumable parts get covered and you don't have to pay anything from your pocket. However, the normal wear and tear of consumable parts aren't covered in an insurance contract. It is only during the time of an accident that the cost of consumables will be covered.

Consumable cover is offered till the period of 60 months from the date of the first registration. Some insurers may extend the cover beyond 60 months too for which a slightly higher premium can be charged. Check with your insurer if consumable is covered post 5 years for your vehicle.

Example of a recent claim having consumable cover


In the image above, you can see the claim bill of an SUV which was involved in an accident. The front bumpers and radiator were damaged accompanied by coolant and AC gas leakage. Without consumable cover, the owner of the vehicle would have to pay for coolant and AC gas which comes to around Rs. 1,200 post GST (~7% of total bill). With consumable cover the owner didn't have to pay anything. The car in the question is an SUV from Maruti stable. The cost of consumables can be quite high for high end cars.

So, consumable cover is an affordable and useful add on which you should get in your insurance contract. The combination of Zero Dep, Engine Protection and Consumable covers is an ultimate shield that you need to protect yourself from financial repurcussions of an accident, big or small.

To know the best and cheapest quote for your car pan India write to us on finriseinvestment@gmail.com or contact on +91-8568953926.

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