What is Key Replacement Cover in Car Insurance? Important Add On

Key Replacement Cover in Car Insurance

Key replacement cover is very important to cover in car insurance. However, some people ignored this when they buy a car insurance policy. Let’s understand that ignoring of key replacement cover is good or not?

What will you do if you lost your car keys somewhere? You have searched everywhere but didn’t find it. Maybe, a thought comes in your mind that you will make a duplicate key from the locksmith.

Many people may think in the same way. But old-time has gone, and this method is not relevant in today scenario.

In today era most of the car companies using computer coded and or encrypted car keys. It is not easy to copy and make a duplicate key from the local locksmith. If you have lost your car key, then in that case you have to approach your authorized car service center to get a new car key.

Getting a car key from the authorized center may cost you a handsome amount. But In case you have a key replacement cover then it will be very helpful for you.

What is Key Replacement Cover?

This is an add on cover in a car insurance policy. Under the key replacement cover insurance companies cover the cost of keys and or lock systems. Some companies provide the coverage for the replacement of car keys and lock systems both.

However, some companies offer only a key cost. Different insurance companies offer different types of plan and their replacement cost limits are also different.

Normally, a basic comprehensive policy does not have a key replacement cover. That’s why you need to buy it as an add on cover by paying extra premium.

Maybe you get this add on cover as default cover in your car insurance policy. There may few companies in India which are providing this as inclusive cover in comprehensive policy.

You should check it while buying a car insurance policy. Having a good key replacement cover may be an important factor for the best car insurance policy.

Why You Need it?

Getting a new key from the manufacturer or authorized service center is a costly matter. Suppose you have lost your key somewhere. You have searched everywhere at home, office and another possible place. But you didn’t find your car key.

Now the last option is to get the new car key. For manual car keys it may cost little amount. But in the case of computer coded or encrypted car keys, replacement cost will be high.

Generally, the cost of key replacement may cost you from Rs.3000 to Rs.12000. However, it may be higher than this amount also. It totally depends on the car make and model.

You can save your lot of money if you have key cover in the car insurance policy. it is advisable to have this cover because it may save your money at the time of need for key replacement.

The premium of this cover is also not so high. Most of the companies are providing key replacement insurance cover at a very reasonable price.