Key Insurance

What is Key Insurance?

Losing your home or vehicle key is a common situation that you can find yourself in often. Hence, for such an unforeseen situation, you must opt for a key insurance plan. This plan is available for as low as Rs. 749 per year. You can use this reimbursement money to cover the key replacement charges and fees of the locksmith as and when required.

Why is Key Insurance Important

In recent times, sophisticated lock technologies are preferred over conventional locking systems. This is so because they offer greater safety and can be easily customized according to an individual's needs. So if this system gets damaged, you might have to pay an enormous amount to have it repair. However, you can cover the entire cost of the lock replacement system as well as the locksmith charges by simply purchasing key insurance for just Rs. 749 per year.

What's Covered?

The inclusions of a key insurance policy are as follows:

• Coverage on key replacement

You can make a claim of this pocket insurance if your car or home key is lost or stolen to have a new key made.

• Break-in coverage

If there is a break-in to your home or personal vehicle, you can claim this policy to cover key replacement and lock changing charges.

• Reimbursements on lockout

You can get coverage on the locksmith charges under this policy if you get locked out of your home or car.

• Reimbursements on rental charges

You can claim a reimbursement if the replacement process of your vehicle’s lock exceeds 24 hours and you need to rent a car for your journey.

Policy Plan Details & Specifications

The specifications and plan details of the policy are as follows: 

• You can receive coverage of up to Rs. Rs. 60,000.

• The validity of this policy is just 1 year.

• You can get this insurance for as low as Rs. 749/year.

What's Not Covered

A few exclusions of this plan are as follows:

• Commercial vehicle key loss

You cannot claim this policy in case you lose the keys of a commercial vehicle and are looking to replace the same. 

• Intentional damage

You will not be eligible to make a claim if you intentionally lose or damage the keys due to ignorance.

Why Replacement of Keyless FOB(Frequency Operated Button)/Remote Key is Expensive

The replacement of the keyless FOB/remote key is relatively more expensive than conventional key systems. FOB keys or remote keys generally operate on a computer-generated code. This code is unique for each vehicle. Hence, you need specialized tools if you are replacing this key system which requires excess time, cost, and labour. Due to this reason, you will need a lot of money to repair them. 

How to Make a Claim & Documents Required to Process the Claim

For making a claim, you can opt for the following:

• For key replacement claims:

   

  • You can call 18002667780 or 1800-22-9966.

  • You can send an SMS to 5616181 writing 'CLAIMS.'

• For emergency travel claims:

   

  • You can write an email to feedback@cppindia.com stating your queries.

  • You can call place a call on the toll-free number 1800-419-4000.

The essential documents for raising a claim are as follows:

• KYC documents

• A membership letter from Travel safe

• An original copy of the FIR confirming the theft

• A copy of the invoice reflecting a new key purchase