Business

Additional Consumable Coverage for Acko Bike Insurance

Published

1 year ago

December 16, 2022

Salman

Additional Consumable Coverage for Acko Bike Insurance

Third-party insurance is mandatory in India for all vehicles on the road.

The government of India has made it compulsory to cover any financial costs that can be incurred due to an accident.

However, in addition to coverage for third-party life or property, a basic comprehensive bike insurance also covers losses or damages to the insurer’s vehicle as well. The add-on covers, furthermore, provide broader coverage.

Consumables are not covered by the standard policy but can be added on. Continue reading to find out everything there is to know about the additional consumable coverage for Acko bike insurance.

When used to their full extent, vehicle consumables become a component or factor of the insured motorcycle.

These cannot be repaired and must be replaced. Engine oil, nuts and bolts, gearbox oil, lubricants, screws, grease, distilled water and other such goods are considered consumables.

The standard comprehensive bike insurance does not cover certain components or elements. Usually, you have to get add-ons to insure them.

The insurance provider will cover the cost of consumables in the case of a claim if you pay an extra premium for the consumable coverage for Acko bike insurance.

How to Claim Additional Consumable Coverage for Acko Bike Insurance

The process for submitting a claim for consumable cover for Acko bike insurance is the same as registering a claim for damage to the covered bike as part of the comprehensive plan.

You can submit a claim in one of two ways: cashless or reimbursement. The following provides comprehensive information on how to submit a claim for the two categories of claims:

1. Cashless claims

The nationwide motorcycle repair shops that associate with insurance companies are known as “network garages”.

You can choose to have the damage to your insured bike repaired at a network garage.

The insurance company will pay the mechanic immediately for the repairs.

Cashless claims or cashless transactions are terms used to describe this process. The cashless claim method is less complicated and faster to complete than the reimbursement claim procedure.

2. Reimbursement claims

The option to choose the reimbursement claim method is also available. You must first repair the damage before filing a claim to recover the expense of the repair.

Even though it can take some time, you can have the car fixed at the shop of your choice and then submit a claim for reimbursement.

However, the insurance providers should be aware that your vehicle is being repaired. Hence, before fixing the bike, you must notify the insurer; otherwise, the insurer may potentially deny your claim.

How to Buy a Consumable Coverage for Acko Bike Insurance

An add-on known as consumable cover for Acko bike insurance can be purchased in addition to the comprehensive insurance policy.

You have the choice to choose add-on covers when buying the comprehensive plan.

You can choose the accessories for your bike that you want to be covered. Despite providing more coverage, each add-on has a specific premium that is added to the overall price of the insurance policy.

The pricing of consumables in bike insurance is influenced by the bike’s worth, year of production, and location.

Ask your insurer if you can incorporate an add-on at any time during the insurance policy term. Since the transaction is online, you may deal in real-time, digital or online insurers.

Thus, you have versatile options to pick from. Whenever you are renewing your policy online or searching for a new insurer, you should have a look at all the add-ons offered by the insurance provider.

Benefits of Consumable Coverage for Acko Bike Insurance

Add-ons offer additional coverage that the fundamental comprehensive plan does not. You may rest easy knowing your bike is adequately insured if you pay an additional fee.

When consumable parts for motor vehicles are particularly expensive on their own, changing several of them while having your bike repaired and serviced could turn out to be costly.

The advantages of adding a bike consumables cover are as follows:

More extensive claim settlement coverage.
Financial burden is lessened.
Gearbox and engine oil coverage.
Having known that the insurer would cover the consumables gives you peace of mind.
End-to-end protection coverage for your vehicle.

Cost of Consumable Coverage for Acko Bike Insurance

Bike insurance has a low per-item cost and includes it in the basic comprehensive plan.

The price varies between insurance companies and is based on the vehicle’s worth, location and year of production.

You can go to the websites of online insurance providers. Acko and other insurers offer a hassle-free, paperless experience. To buy, renew, and raise claims, visit their website or install their smartphone app.

Documents Required To Buy Consumable Coverage for Acko Bike Insurance

Separate documents are not necessary in order to purchase a consumable coverage add-on, but the add-on can only be purchased with a comprehensive cover.

You must therefore provide all the necessary paperwork in order to purchase comprehensive bike insurance.

When you want to purchase bike insurance online, you need to provide documents with information on the bike’s registration, the year it was manufactured, the bike’s location, and the policyholder’s personal information.