Know Everything About Consumable Add-on Cover In Two Wheeler Insurance Policy
Published On Feb 08, 2022
Read on to find out everything there is to know about the Consumable Cover add-on in two-wheeler insurance, as well as answers to commonly asked questions.
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In addition to coverage for third-party life or property, the basic Comprehensive Bike Insurance covers losses or damages to the covered bike. Add-on covers, on the other hand, provide more coverage. Consumables are not covered by the standard insurance but are available as an add-on. When the insured bike is fully consumed, vehicle consumables are a portion or factor of the bike. These must be replaced since they are beyond repair. Engine oil, gearbox oil, nut and bolt, lubricants, screw, grease, distilled water, and other consumable commodities are examples of consumable items.
Consumable Add-on Cover in a Two-Wheeler Insurance Policy
A consumable add-on cover in two-wheeler insurance offers supplementary coverage for consumable products not covered by a basic two-wheeler insurance plan (such as bolts, nuts, engine oil, pipes, grease, and so on). This, like other add-on coverage, may be purchased in conjunction with a complete bike insurance plan or as a stand-alone own-damage bike insurance plan. Consumables are elements or aspects of the bike that are entirely consumed when utilized. These items are not re-usable and cannot be restocked. Nuts, bolts, lubricants, screws, brake oil, grease, fuel filter, and air conditioner gas are all consumables on a bike. Consumables are simple items that can add up to a significant amount of money. Because normal two-wheeler insurance policies do not generally cover expenditures linked to consumables, it is necessary to purchase it as an add-on. Consumables cover add-on can be purchased in conjunction with either a basic standalone own-damage or comprehensive bike insurance policy. However, insurance firms charge an additional fee for this.
What Is Bike Insurance's Consumables Coverage Add-On?
The Consumables Cover add-on in bike insurance provides additional coverage for consumable products that are not covered by a standard bike insurance policy. The add-on coverage saves the insured money on all consumable products, no matter how minor. This optional protection may be purchased in addition to a conventional bike insurance policy, which can be either a standalone own-damage policy or a comprehensive bike insurance policy. The add-on insurance provides comprehensive coverage for expenditures related to consumables that are no longer fit for use in the future, in the event that the damage was caused by an accident.
Two-Wheeler Insurance Benefits of Consumable Add-On Coverage
You can supplement your coverage with an add-on if your normal comprehensive two-wheeler insurance plan is insufficient. Although an add-on cover costs a little more money, you can rest confident that your bike is fully protected when it comes to insurance coverage. Although individual motor vehicle consumables are not expensive, there are a number of consumable components that must be replaced when your vehicle is repaired, and they may be rather pricey. The following are some of the advantages of having a Bike Consumable Add-On Cover:
- Financially, you will be less burdened.
- Gearbox and engine oil are both covered.
- You may relax since you know the consumables will be covered by the insurance provider.
- End-to-End Your insured vehicle's safety is guaranteed.
- Claim settlement has a broader scope of coverage.
It has been observed that individuals who choose this coverage are mostly those who want to save money on minor repairs and maintenance, as well as those who do not want to worry about minor repairs and replacements of various bike parts. People who buy new or superbikes, as well as those who reside in an accident-prone location, should consider purchasing this insurance.
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.