Although comprehensive car insurance is a better choice for a four-wheeler insurance policy in comparison to third-party and stand-alone own-damage car insurance, it still does not cover any damages that may be caused to the nuts and bolts or any other consumables of your four-wheeler. For this, you must purchase a consumables add-on along with your basic comprehensive car insurance policy.
Add-ons are additional coverage offered over and above your basic policy for an additional premium. Common add-ons like zero depreciation car insurance or return on invoice, etc., can be added to enhance your policy coverage.
In this article, we will delve into what nut bolt cover or consumables cover is, its benefits and how it can impact car insurance premiums.
Table of Contents
Understanding Nut Bolt Cover in a Comprehensive Car Insurance Add-ons
There are certain parts of a car that are not covered under comprehensive car insurance. These parts are referred to as the consumables. Consumables are parts of a car that lose its quality over time and use. Nut bolts are one of these parts among the consumable list items.
Nut bolt coverage is an add-on option within comprehensive car insurance. It covers the cost of repairing and replacing consumable items like nuts, bolts, tires, brake oil, etc.
In case of an accident, if the nuts and bolts get damaged and need repair or replacement, a consumable add-on cover helps bear these expenses. This add-on coverage can be bought with comprehensive car insurance by paying an extra premium amount.
Benefits of Adding Nut Bolt Cover to your Four-Wheeler Insurance Premium
- No expenses out of policyholder’s pockets in case of any damage to nut bolt or any other consumable items
- By paying just a little extra in your insurance premium, all future damage costs are covered.
- This add-on cover in car insurance offers policyholders peace of mind, knowing their car is extensively protected.
How to Raise a Claim in Case of Nut Bolt or Other Consumable Item Expenses
There are two ways to settle insurance claims for consumable expenses i.e. Cashless claim and Reimbursement Claim.
Cashless Claim:
For this claim, policyholders must go to one of the network garages of the insurance company and the expenses of any repair and replacement will be directly covered by the car insurance company.
Reimbursement Claim:
For this claim policyholders can go to any garage of their liking and pay for the expenses incurred. The car insurance company will reimburse the expenses for repair and replacement later.
What are the Documents Needed to Raise a Claim on the Nut Bolt Add-on Cover:
Having the right documents before you raise a claim with your car insurance company is essential. Make sure you have a copy of your insurance policy, driver’s licence, claim form, bills of any repair, and in case of a theft have a copy of the FIR. If you fail to have the right documentation during the claim process there is a possibility that your claim might be denied.
Conditions Under Which Nut Bolt Add Cover or Other Consumable Items Cannot Be Claimed
There are a few scenarios in which consumable add-on coverage cannot be claimed. They are as follows:
- Driving without a valid driver’s licence.
- Driving under the influence of alcohol or drugs.
- Delay in Informing the insurance company about any replacement of the consumable items.
- A mechanical or electrical breakdown of an insured four-wheeler.
- Commercial use of a private four-wheeler.
It is crucial to learn about the policy exclusion and terms and conditions to avoid claim rejection.
The Process to Buy Nut Bolts Add-on in Online Car Insurance:
- Browse through a trusted insurance company like Tata AIG for car insurance policies.
- Enter your car registration number.
- Enter car details like registration year, make and model, and RTO
- According to your preference choose a comprehensive car insurance plan.
- Select the add on cover options to add a consumable cover.
- Make the payment for your insurance premium.
- You will receive a copy of your insurance policy by email. Make sure you save it.
Other Consumable Add-on Cover Available in Car Insurance Policies:
Apart from nut bolts, there are other consumables available within add-ons in car insurance. Let’s have a look at some of the items:
- Bearings
- Washer
- Break Oil
- Engine Oil
- Gearbox Oil
- Air Conditioner Gas
- Screw
- Lubricants
- Grease
- Oil Filter
- Clip
- Distilled Water
Conclusion
Even though a basic car insurance policy does not include nut bolt coverage it is quite easy and convenient in today’s digital world to add nut bolt coverage to your four-wheeler insurance at a marginal cost. As we have discussed in this article we can understand why it is preferable to add on a consumable cover like a nut bolt cover to your car insurance premium.
Consumable cover in insurance premiums saves quite a lot of money on repairs on several consumable parts like nut bolts, engine oil, etc. It also gives policyholders peace of mind knowing their car is well protected and they do not have to worry about repair expenses.