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We tend to be extremely careless with our car keys and often end up misplacing or losing them. In such cases, the key replacement cover in car insurance is extremely useful. The loss of a key or damage of car locks can be inconvenient and result in unnecessary expenses. In order to evade

such circumstances, the key replacement cover is an excellent choice.  

Under this cover, you can insure three types of keys, namely, traditional car keys, remote car keys and smart keys. Remote keys have in-built encryptions that are specifically suited for your car. Therefore, the cost of replacing such complex mechanisms can be quite a burden. Thus, such a cover can help save up costs.

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Types of Car Keys Available in the Market 

There are three basic types of car keys available, which include: 

  • Traditional Car Keys

These keys are made of steel and are the most basic car keys. This type of car key has no special features and can be easily duplicated by the locksmith.

  • Remote Car Keys

Remote car keys come with a transponder through which you can lock or unlock the door of your car. This is the special security offered by this type of key. However, as compared to traditional keys, they are more expensive.

  • Smart Keys

Smart keys can be locked and unlocked without touching or any physical contact. As the name suggests, they are more high-tech than the normal keys. These are more expensive than the traditional and remote car keys.

Why Replacement of Key FOB/Remote Key is Expensive

A remote key or key FOB is not just a simple locking tool that uses interlinking mechanisms. Key FOBs are a sort of in-built encryption system with their own mini processors and software that are aligned to work only with your car. If you lose or misplace your key FOB, the car company has to issue a similar key FOB to you, which can work with your car’s security system. The cost of replacing a basic key FOB can range from ₹8,000 to ₹10,000. If you have a smart key FOB that serves various complicated functions, this cost will only go higher. Thus, a key protection add-on cover can help you save money on these costs. 

How to Buy Key Protect Add-on Cover with Car Insurance

You can purchase the key protection add-on along with your car insurance plan by following simple steps given below: you can follow to buy the key protect add-on cover along with a car insurance plan: 

  • Step 1: Go to the ‘Car Insurance Premium Calculator’ on the Bajaj Markets website. 

  • Step 2: Enter your personal details and required information on the form available on the page and click ‘Get Quote’. 

  • Step 3: Choose a car insurance plan from the list of car insurance options available. 

  • Step 4: Select the Key Protection Cover add-on from the available list of add-ons. 

  • Step 5: Pay the insurance premiums for your insurance plan and add-on cover. 

Your car insurance plan with the key protect add-on cover will be shortly activated and the details will be sent to your registered email. 

Benefits of Key Protection Add-On Cover 

You can take a look at some of the main benefits of the Key Protection add-on cover given below: 

  • This add-on cover will keep you financially covered for the replacement of your car key in case you lose or misplace the original keys that come with your vehicle. 

  • In case your car lock gets damaged due to any reason, this add-on cover will also provide financial coverage for replacing or repairing your car’s lock. 

  • You can rest assured that you can get your keys replaced instantly in case of theft and remove the risk of your car being stolen, with the help of this cover. 

How to Claim the Key Protection Cover in Car Insurance

In the event that you lose your car keys or end up misplacing them, you can follow the simple steps given below to claim car insurance for this add-on cover. 

  • Step 1: Inform your insurer about the loss, damage or misplacement of your car keys. 

  • Step 2: In case the car keys are stolen, file an FIR and keep a copy of the same with you. 

  • Step 3: Get your car key replaced or repaired with the car manufacturer. 

  • Step 4: Store all the original bills and receipts of the repair/replacement of your car keys. 

  • Step 5: File an insurance claim with your provider along with the right documents as well as the bills and receipts of the repair/replacement. 

  • Step 6: The insurer will verify your claim in a few days and then release the insurance claim amount to you. 

To Conclude 

Car key insurance is an add-on to the car insurance policy that you buy. They cover any kind of losses that could happen to the car keys. Car key insurance can be bought online in just a few minutes, without physically having to visit the insurer. However, this add-on can only be purchased along with a comprehensive car insurance plan. If you are looking for the right policy for your car and a key protect add-on cover, you can take a look at the comprehensive car insurance options available at Bajaj Markets and choose one that fits your requirements. You should also ensure to read the whole car insurance policy document before buying. 

Check Out Car Insurance Partners Available at Bajaj Markets

FAQs on Key Protection Add-on Cover

 Yes, you can buy the key-protection add-on cover at the time of buying comprehensive car insurance at Bajaj Markets. 

Key protect cover is an add-on feature of car insurance. If you lose or damage your keys, this add-on will help cover the cost of repair and replacement. 

Yes. With a key protection insurance add-on, you can get the amount you spent on replacing or repairing the keys or lock reimbursed. 

If your keys are stolen, you should report them to the nearest police station and show the report to the insurer in order to claim for insurance.

As it's an add-on, the cost of key protection cover will only be a small fraction of your total car insurance premium costs.

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