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Key Replacement Cover in Car Insurance

Key Replacement Cover in car insurance provides protection for lost, stolen, or damaged car keys. Understand its benefits, what it covers, and the claim process to make an informed decision about adding this valuable coverage to your policy.

  • 22 Feb 2024
  • 4 min read

Ever lost or misplaced your car keys and felt the frustration of being unable to drive your car? Or worse – ever had your car keys stolen and worried about the security of your vehicle? If yes, then you understand the high cost and inconvenience of getting a new set of keys or replacing your car's entire lock system.

But what if there was a way to protect yourself from such situations and get your car keys replaced or repaired without burning a hole in your pocket? Well, there are! It is called Key Replacement Cover in Car Insurance, also known as Car Key Replacement Insurance. Read on to find out what it is, how it works, and why you should consider buying it.


What is Key Replacement Cover in Car Insurance?

Key Replacement Cover, or Key Lost Insurance, is an add on you can get with your comprehensive car insurance policy. It covers your car keys' replacement or repair costs if you lose, misplace, or damage them or someone steals them. The add on also covers the cost of replacing or repairing the entire lock system of your car if it is damaged due to theft or burglary.

Key Replacement Cover is an optional cover you can purchase by paying an additional premium over and above your basic car insurance premium. The premium value depends on various factors, such as the make and model of your car, the type of key (traditional or electronic), and a few more.


Benefits of a Key Replacement Cover in Car Insurance

Some of the primary benefits of buying lost car key insurance are:

  • It saves you from the hassle and expense of getting new keys or locks for your car in case of an unfortunate event.
  • It provides you with peace of mind and security, as you don't have to worry about losing access to your car.
  • It enhances the coverage and value of your comprehensive car insurance policy by providing additional protection for your car.
  • It is easy to buy and claim, as insurers offer online purchase and settlement options for this add-on cover.
  • Submitting a claim under this cover won't affect your no-claim bonus.


Inclusion of Key Replacement Cover in Car Insurance

Some of the common scenarios that are covered under key replacement in car insurance are:

  • Loss or misplacement of car keys due to any genuine reason
  • Theft or burglary of car keys from your home, office, or any other place
  • Damage or breakage of car keys due to accident, fire, water, etc.
  • Damage or breakage of the car's lock system due to theft or burglary.
  • Cost of towing or transporting the vehicle to the nearest garage or workshop if the keys are unavailable.
  • Cost of labour charges for replacing or repairing the keys or locks.


Exclusion of Key Replacement Cover in Car Insurance

Some of the common scenarios that are not covered under Key Replacement Cover in Car Insurance are:

  • Loss or theft of car keys due to negligence, carelessness, or deliberate act.
  • Loss related to keys covered under the warranty.
  • Damage to key lock due to radiation.
  • Damage or breakage of car keys due to wear and tear, corrosion, rust, etc.
  • Damage or breakage of the lock system of the vehicle due to electrical or mechanical failure.
  • Damage to parts other than keys, such as an immobiliser, ignition system, or alarm.


Steps to Buy Key Protect Claim Add-on

If you want to buy a Key Protect Claim Add-on with your comprehensive car insurance policy, you can follow these simple steps:

  • Start by comparing different car insurance plans and add-on coverages offered by various insurance companies online.
  • Choose a plan that suits your needs and budget, and select the Key Protect Claim Add-on as an additional feature.
  • Fill out the online application form with your personal and vehicle details.
  • Pay the premium amount using a secure payment mode.
  • Receive the policy document and confirmation email at your registered email address.


Steps To Claim Car Insurance for Key Protection

If you want to claim Key Protection Cover in case of loss, theft, or damage to your car keys or locks, you can follow these simple steps:

  • File an FIR with the police and take a copy of it to support your claim.
  • Inform your insurance company about the incident within 24 hours and register your claim online or via their toll-free number.
  • Submit the required documents, such as policy copy, FIR copy, identity proof, vehicle registration certificate, etc., along with a duly filled claim form.
  • Get your car inspected by a surveyor appointed by the insurance company.
  • Get your keys or locks replaced or repaired at a network garage authorised by the insurance company.
  • Pay the deductible amount (if any) and get reimbursed for the remaining amount by the insurance company.

Also read:

Things To Keep in Mind While Filing a Claim

Some of the things that you should keep in mind while filing a claim for Key Protection Cover are:

  • Read the terms and conditions of your policy carefully and thoroughly understand what is covered and what is not.
  • Keep all the original documents related to your claim handy and submit them as soon as possible.
  • Cooperate with the surveyor and provide all the necessary information and evidence.
  • Do not get your keys or locks replaced or repaired without the insurance company's approval.
  • Do not make any false or fraudulent claims, as it may lead to rejection or cancellation of your policy.
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