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Key Replacement Cover

Key Replacement CoverThere are times when you are urgently leaving for a meeting and are not able to find your car keys. You search high and low only to realize that you have misplaced them. In such situations, it is often not possible to get the keys locally made as cars today have highly secure keys which can only be replaced by the manufacturer.  This also means that you have to spend a considerable amount to get a new key. To avoid a situation like this, it is highly recommended to take a Key Replacement Cover when you buy Car Insurance

Why is Key Replacement Cover important?

Your basic Car Insurance Policy, whether it is Third-Party Liability Cover or Comprehensive Car Insurance Plan, does not include any cover pertaining to keys. Whether they are lost or stolen, you have to request a new one from the manufacturer. You may have to wait for 5-10 days to collect the replacement key. In most cases, you may even need to replace the locks, which is another added expenditure. The more luxurious and high-end the car model is, more expensive the new set of keys will be.

Key Replacement Cover will reimburse the expenses incurred for procuring a new key.

Inclusions of the Key Replacement Cover

This is an Add-On Cover. Its features and cost vary from one insurance company to another. To put it simply, it covers the cost you incur to replace the key if it is lost or stolen. You will also get compensation for replacing the lock if required.

Buying a Key Replacement Cover:

Since this is additional coverage on the standard policy, the cost of cover is over and above the base premium. However, this extra cost is worth all the trouble and expenditure you will have to incur if the keys are lost or stolen.

When you apply for a Car Insurance Policy, you can ask the insurance company to give you a list of Add-On Covers. If there is no such benefit available, it is advisable to switch to the company which provides it.

Bharti AXA provides various types of Add-On Covers, including Key Replacement Cover. The cover includes:

  • Cost of making a new key and
  • expenses incurred in case the lock also needs to be replaced due to loss of keys. It is valid for up to 2 claims during a policy period.
  • The Add-On Cover bears a cost of up to of INR 25,000 per claim.

While the insurance will replace the key, you should also keep them safe. Whenever you buy a car, always make sure you receive two sets of keys. This is because the Insurance Plan will cover only one or two claims. If it is lost or stolen again, you will have to bear the expenses.

Bharti AXA is a reputed Insurance Company in the Indian Market and has sold more than 3.5 million policies till date. The company has a dedicated Customer Service Desk manned by experienced professionals which is available 24x7 to resolve all your queries. For more information and to buy a policy, contact a Bharti AXA representative today!

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