Car Key Insurance: Avoid Financial Loss with Proper Coverage


Typically, we insure our cars, but it’s also essential to insure car keys. Modern car keys, particularly key fobs, can cost thousands of rupees to replace. Insuring your car keys ensures you receive a refund that can cover the replacement cost if they are lost.

Have you insured your car keys? If not, you might find this helpful information. Just as it’s essential to insure your car, it’s equally wise to insure the keys.

The cost of car key insurance is relatively low, especially when added to your car insurance policy. Without car key insurance, you may encounter significant issues if you lose your keys.

In the past, cars came with simple manual keys, which were inexpensive and easy to duplicate if lost. Many modern vehicles use advanced key fobs, making key replacement costly.

Insurance companies typically cover the expense of a new key if your car keys are lost or stolen. Additionally, if you accidentally misplace your car key, you may need to replace the entire lock and padlock, which can cost Rs. 5,000 to Rs. 20,000, depending on the car model. Having car key insurance can help alleviate this financial burden.

When you insure your car, many insurance companies offer key replacement add-on coverage for an additional Rs. 300-400 premium. However, premium rates may vary from one insurance provider to another.

If your car key is lost or stolen, the first step is to register a First Information Report (FIR) at your local police station. Next, contact your insurance company by phone or email to report the loss.

Afterward, you must submit a claim form and any necessary documentation. This process can be completed online or offline. Once your documents are submitted, the insurance company will review your claim. After the verification process, the company will cover the costs of replacing your key.

This process might take some time, so it’s important to take care of your car keys. When traveling with children, keep your keys secure and avoid handing them over to prevent the risk of misplacing them.

Leave a Comment