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You love your bike, right? Whether it is for daily rides to work or weekend trips, keeping it in top condition is important. But did you know that some small, everyday items in your bike, like engine oil, brake oil, nuts, bolts, or coolant, are usually not covered under normal bike insurance?
That is where the Consumables Cover comes in. This is an add-on to your bike insurance that takes care of these small but essential items whenever your bike needs repairs. With the Consumables Cover, you don't have to spend extra money from your pocket for things that are needed to keep your bike running smoothly.
In this blog, we will explain what the Consumables Cover is, why it is useful, and how it can save you money.
Why Do You Need a Consumables Add-on?
When your bike is damaged and goes for repairs, many consumable items need to be replaced. These small costs can add up and become expensive. By choosing a consumables add-on, you just need to pay a small extra premium.
Benefits of the Consumables Add-on:
- It helps pay for the replacement of consumable items during repairs.
- Engine oil and gearbox oil are also covered under this add-on.
- It gives better coverage when you make an insurance claim.
- It offers complete protection for repair-related costs.
- It gives peace of mind because you don't have to spend extra money yourself.
Who Should Buy a Consumables Cover?
You should think about buying a Consumables Cover if you:
- Have a new bike If you have just bought a new bike, this cover is a good idea. New bikes need good-quality and branded parts. Even small parts can be expensive. This cover helps you save money on repair costs.
- Ride your bike every day If you ride your bike daily, it gets more wear and tear. Daily riding also increases the risk of damage or accidents. Many small parts may need to be replaced. Consumables Cover helps pay for these parts.
- Want extra protection If you want more protection, this cover is useful. Normal bike insurance does not pay for small items. Consumables Cover pays for these repair costs and gives you peace of mind.
What Does a Consumables Add-on Cover?
The items covered under a Consumables add-on can be different for each insurance company. However, most insurers usually cover these common items:
- Engine oil
- Brake oil
- Gearbox oil
- Grease and other lubricants
- Nuts and bolts
- Screws and washers
- Clips
- Bearings
- Distilled water
What Does the Consumables Add-on Not Cover?
There are some situations where the insurance company will not provide coverage under this add-on. These include:
- If the rider is riding the bike after drinking alcohol or taking drugs.
- If the rider does not have a valid driving licence.
- If the bike does not have a valid and active insurance policy.
- If the bike is repaired without informing the insurance company first.
- Any other conditions mentioned in the policy terms and conditions.
How to Claim Bike Insurance for Consumables Cover?
Claiming Consumables Cover is simple and similar to claiming bike insurance under a comprehensive policy. You can raise a claim in two ways:
- Cashless claim
- Reimbursement claim
Let's understand both
1 Cashless Claim
Insurance companies have tie-ups with certain garages called network garages. If you repair your bike at one of these garages, the insurance company pays the repair cost directly to the garage. You do not have to pay first. This is the easiest and fastest way to claim insurance.
Steps to make a cashless claim:
- Inform your insurance company by calling them, using their website, or mobile app.
- Upload photos of the damaged parts of your bike.
- The insurer will send a surveyor to check the damage.
- Take your bike to a network garage for repair.
- Since the Consumables Cover is part of the policy, the insurance company will pay for the consumable items as per policy rules.
Important: Always inform the insurer before getting the bike repaired. Otherwise, your claim may be rejected.
2 Reimbursement Claim
If you want to repair your bike at a garage of your choice, you can use the reimbursement method. In this case, you first pay for the repairs yourself and later claim the money from the insurer.
Steps to make a reimbursement claim:
- 1.Inform the insurance company about the damage and choose the reimbursement option.
- 2.Register the claim by calling them, using their website, or mobile app.
- 3.The insurer will send a surveyor to check the damage and estimate the cost.
- 4.Get your bike repaired and keep all repair bills and documents safely.
- 5.Submit the bills, claim form, and any other documents asked by the insurer.
- 6.The insurer will check all documents and approve the claim if everything is correct.
- 7.The cost of Consumables will also be covered as per policy terms.
- 8.Once approved, the insurer will transfer the repair amount to your bank account.
How Much Does Consumables Cover Cost?
The cost of the Consumables Cover can be different for each bike. It depends on the type, model, and age of your bike. Expensive or high-end bikes may have a higher cost than normal bikes. You should ask your insurance company how much you need to pay for this add-on with your bike insurance. The price can be different from one insurer to another.
You can visit the official website of Square Insurance to buy the best insurance plan and the Consumables Cover online. Here, you compare different plans from different insurers and select the most suitable one.
Conclusion
When you buy bike insurance, you can choose Consumables Cover as an extra add-on. By paying a small extra amount, you do not have to pay for consumable items when you make a claim. This helps reduce your repair costs.
In the long run, a Consumables Cover can help you save a lot of money. It takes care of small but important parts that are usually not covered by regular insurance. This means fewer worries and more peace of mind every time your bike needs repairs.
FAQs
Consumables Cover is an extra add-on in bike insurance. It pays for small items used during repairs, like engine oil, brake oil, nuts, bolts, and grease. These items are not covered in normal bike insurance, but this add-on helps you avoid paying for them.
Yes, it can be worth it. Consumable items may look cheap, but they are used often during repairs. Over time, the cost adds up. This cover helps save money and reduces out-of-pocket expenses, especially if you use your bike a lot.
It usually covers items like engine oil, brake oil, coolant, grease, nuts, bolts, screws, and washers used during repairs.
It is useful for people with new bikes, those who ride daily, or anyone who wants extra protection and lower repair costs.
Yes, but only a little. You pay a small extra amount for this add-on.
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