Misplacing car keys is not an uncommon occurrence. However, the hassle that can arise from replacing car keys can be quite challenging to surpass. Owing to the implementation of cutting-edge technology, it might be impossible to acquire new keys without getting in touch with the car dealer or the locksmith. However, one can undertake some measures through which they can reduce the financial liabilities of replacing lost or stolen car keys.

A key replacement cover is one such contingency measure that can allow individuals to evade the financial burden of replacing their car key. This feature-rich Pocket Insurance plan from Bajaj Finserv can aid in-

  • Availing reimbursement for duplicate keys,
  • Cover labour costs for making new keys, and more.

Following is how having a key replacement policy in place can allow you to avail new car keys for free.

What does this insurance cover entail?

A car key replacement policy is one of the most convenient ways through which individuals can minimise financial liabilities that arise due to loss or theft of their vehicles keys. Some of the instances covered under this policy include –

  • Key replacement cover

This policy helps to reimburse the cost incurred in the process of replacing your vehicle’s keys. Nowadays, most cars have chip-based keys that have signal emitting circuits inside. That is why, if lost or stolen, they can be replaced only by the vehicle dealer. The cost associated with replacing them is also quite substantial. Therefore, if one is looking to avoid these expenses, it is pertinent to have a key replacement cover in place.

  • Coverage in case of lock-out

There might be instances where an individual is locked out of his/her car without a key. A car key insurance in India can help individuals avail reimbursement of the cost incurred to manufacture duplicate keys under such circumstances.

  • Reimbursement for a rental car

Sometimes replacing a car key can take over 24 hours. In such cases, if an individual requires a vehicle, this insurance policy can help to reimburse the cost of renting a vehicle. One can not only avail their key replacement for free but also save up on such associated expenses.

These insurance covers are, thus, extremely beneficial if an individual wants to seek protection against the unforeseen costs that can arise from losing one’s keys.

How to file a claim for this insurance plan?

Individuals can buy Key Replacement Cover online from insurance aggregator, Bajaj Finserv following a few simple steps and paying a nominal premium amount.

Further, one can also avail policies like a Road Trip Travel Insurance cover to minimise the liabilities that can arise if you lose your car key during your travels.

Individuals can follow the process below to file a claim for their key replacement insurance cover –

  • Individuals can first call the insurance company to report the loss of their car keys.
  • Next, they will have to submit a written application detailing the circumstances of the loss.
  • If there has been a situation of theft where someone has broken into the car, individuals will also have to submit a copy of the official complaint lodged to local authorities.
  • Individuals will also have to submit a copy of the receipts for the payments made towards their car dealers or locksmiths for key replacement.
  • Upon submitting the necessary documents, the insurance company will reimburse the expenses incurred.

With an easy claim process, a key replacement cover is the most comprehensive way to seek financial protection during the loss of car keys. Nevertheless, one should make sure to check the exclusions under this cover to ensure that they are well-informed about the policy terms before availing it.