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Consumable Cover Add-on in Two-wheeler Insurance
Consumable cover in bike insurance comes in handy as the insurer compensates towards the replacement/replenishing costs of consumables with new one. This is done when you face partial loss to the insured vehicle or accessories due to any peril covered under the primary insurance policy. It is an add-on cover which can availed along with the base two-wheeler policy.
It must be noted here that consumables are items or substance of the insured vehicle which is not damaged in the Accident come with limited life or needs replacement because it has been consumed completely/partially to complete vehicle repair.
Note: Consumable cover in Bike Insurance has been filed as Digit Two Wheeler Package Policy - Consumable Cover with Insurance Regulatory and Development Authority of India (IRDAI) with UIN number IRDAN158RP0006V01201718/A0015V01201718.
What’s Covered Under Consumable Cover Add-on in Two Wheeler Insurance
The add-on of Consumable cover offers coverage towards:
Replacement/replenishing costs of consumables with new one for all types of consumables which are deemed unfit for reuse.
Consumables which need replacement to complete the repair of the insured vehicle.
What is not covered?
- Consumable cover comes with the following exclusions in addition to the ones listed under the primary insurance policy:
The insurer will not entertain claim if the vehicle insurance policy is not valid.
Not liable to pay any claim where the Own Damage claim made under vehicle insurance is not payable/admitted.
If consumables pertaining to any part/accessory is not approved for replacement by us under the vehicle insurance policy, the claim will not be registered.
The insurance company is not liable to pay for claim where the vehicle is not repaired at Digit authorized repair shop.
If the loss for which claim has been filed is covered under any other type of insurance policy.
In the case of constructive total loss/total loss of the vehicle, the claim won’t be registered.
The claim will not be registered if the opportunity to inspect and assess the damage/loss before commencement of repair is not provided to us.
If the loss is notified to us after 30 days of happening, we are not liable to pay for the claim. However, we may at our discretion condone the delay in notification of claim on merits based on the reason for delay furnished by you to us in writing.
Benefits of Availing the Consumable Cover Add-on
By buying the add-on of consumable cover, you can avail the following benefits:
The add-on cover will ensure that the two-wheeler is also protected against specific damages.
While repairing consumables isn’t quite expensive, it surely eats into the bank balance. Having the add-on can definitely reduce the financial burden.
Knowing that the insurer will take care of the expenses when replacing consumables ensures peace of mind.
Disclaimer - The article is for informational purposes, collected across the internet and with respect to Digit’s Policy Wordings document. For detailed coverage, exclusions, and conditions about Digit Two Wheeler Package Policy - Consumable Cover (UIN: IRDAN158RP0006V01201718/A0015V01201718) go through your policy document carefully.
FAQs about Consumable Cover Add-on in Bike Insurance
Is it necessary to repair the damage at Digit’s authorized repair shop to be eligible to file a claim under this add-on cover?
Yes, for your claim to be settled under this add-on cover, you need to repair the damage at an authorized repair shop of Digit.
Is fuel included under consumables?
No, fuel does not fall in it. Engine oil and brake oil are included under consumables.
Can I file claim for damage caused to the vehicle if I was driving without a valid driving license?
No, if you were driving without a valid driving license at the time of damage, the claim will be rejected by the insurer.
Do I need to submit separate documents for availing the add-on of consumable cover?
No, separate documents need not be submitted. Add on can be availed with the base policy.
I have third-party bike insurance; Can I avail consumable cover add-on?
Add-on covers can only be purchased along with the own damage section. So, if you have only third-party bike insurance policy, you can’t avail add-on covers.