Consumable Add-On in Two-Wheeler Insurance

What is Consumables Cover in Bike Insurance?

With a consumable add-on cover, you get additional coverage for the consumable items not covered under a comprehensive bike insurance plan. Consumable parts in a two-wheeler are nuts, bolts, screws, lubricants, engine oil, grease, gearbox oil, distilled water, etc.

Consumable parts are small, but their replacement cost can be high and cause significant expenses. In such cases, a consumable add-on cover can offer you financial assistance during an emergency.

Why Do You Need a Consumable Add-on?

Since a basic comprehensive bike insurance plan covers only basic things, this consumable cover enhances the coverage and provide an extra layer of protection. A consumable add-on cover is offered at a slightly higher premium, but your bike is financially covered all the time.

A set of multiple consumables are required to change while your damaged bike is getting fixed, and they can be quite costly. To help you in this, here are some of the benefits of purchasing this add-on cover with your comprehensive bike insurance or own-damage bike insurance cover:

• Provides financial aid for the replacement of consumables.
• Engine oil and gearbox oil are covered under this add-on.
• Better coverage at the time of claim settlement.
• End-to-end protection.
• You can have peace of mind as you will not have to pay out of your pocket.

Coverage Under Consumable Add-on Cover

Every insurer has a different set of coverage under the consumable insurance add-on. Here are some of the common inclusions of consumable add-on cover:

• Nut & Bolt
• Engine Oil
• Gearbox Oil
• Lubricants
• Screw
• Bearing
• Distilled Water
• Washer
• Clip
• Brake Oil
• Lubricants
• Grease

Under Which Conditions Insurance Company Would Not Provide Cover?

While purchasing this add-on, you must be aware of the conditions under which the insurer will not provide coverage. They are as follows:

• If the insured is riding the bike under the influence of alcohol or drugs.
• Riding the bike without a valid driving license.
• Riding the bike without a valid & active two-wheeler insurance policy.
• If the insured does not inform the insurer about the damage before getting it repaired.
• Terms and conditions are listed in the policy.

How Can You Raise a Claim for Consumables in a Bike Insurance Policy?

The process of raising a claim under a consumable add-on is similar to raising a claim under comprehensive insurance. You can raise either a cashless claim or a reimbursement claim under this add-on.

1. Cashless Claim Settlement Process

   To provide a cashless claim facility, the insurance companies collaborate with several two-wheeler garages across India. If your bike suffers any kind of damage, you can take it to one of those registered/network garages and get it fixed, and the insurer will pay for the repair on your behalf. Here is the process that you can follow for the cashless claim:

   • Step 1: Inform your insurer about the damage
   • Step 2: You can call or visit their website or use their mobile application to raise a claim.
   • Step 3: Take a picture of the damaged parts and upload them.
   • Step 4: The insurer will send an inspector to check if you have raised the claim for genuine damage.
   • Step 5: The insurer will direct the bike to the registered network garage.
   • Step 6: The insurer will pay on your behalf once the damages are fixed.

2. Reimbursement Claim Settlement Process

   You can also opt for reimbursement of the claim raised for the loss or damage caused to the bike. In this case, you can get the damages fixed and then raise the claim for reimbursement. In addition, you need to inform the insurer before getting your bike repaired, otherwise you will not be liable for the reimbursement. Here are the steps you can follow to get reimbursement:

How Much Does Consumable Add-On Cost?

The consumable add-on cover in bike insurance is not very costly. The cost of this add-on can vary from insurer to insurer, as well as the cost of your bike, location, and the year of manufacture. You can visit the official website of Policybazaar Insurance Brokers Limited. Here you can look for the consumable add-on cover online and pay for it using any of the favourable online methods, such as UPI, net banking, and debit/credit card.

Add-ons for your two wheeler insurance

Personal Accident Cover

Roadside Assistance

Passenger Cover

Return To Invoice Cover (RTI)

NCB Protection Cover

Engine Protection Add-On In Two-Wheeler Insurance

Accessories Coverage