The most vital element of every automobile is the key. The car may be started and stopped manually or electronically using a mechanical or electronic key. Key replacement insurance is rare compared to automobile insurance. Since most people believe car keys can be quickly replaced. This could be true if they were manual keys, but remote-controlled keys are much more difficult to replace on-site.
The Pocket Insurance plan offered by Bajaj Finserv includes a key replacement insurance cover. And the other more than 80 such inexpensive policies. It also offers similar protection in the form of debit card insurance, which will assist you in blocking the cards in your wallet if they are stolen.
There are two kinds of keys for cars nowadays:
A simple metal key
It is possible to get extra copies of the key created from the surviving one for a reasonable price. If the key is a simple metal key and you are not concerned about the second key being used to steal the automobile.
Electronic key
It will be more difficult if the key is a more recent electronic one with a radio transponder. Additional keys must be ordered from the parts department of your auto dealer. And the existing key and vehicle must be brought in to be “programmed” with the vehicle as a package.
Learn why it is necessary to do key replacement
When you acquire a new automobile, you are often given two keys. If one of your car keys is lost or misplaced, you may not be able to file an insurance claim. At the time of a theft, in which case you may not be able to recover your stolen vehicle.
Car insurance companies have the authority to request that you deliver the duplicate key to them. If your vehicle has been stolen and you file a claim.
Suppose you submit a fake duplicate key for a similar vehicle. And during the process of searching for the stolen vehicle (assuming that the insurance companies do come across the stolen vehicle). The fake duplicate key you submitted does not work or function. You may find yourself in legal trouble for concealing facts. Therefore, you must discontinue submitting fictitious keys to get a claim. It is wise to be transparent in all your dealings with the insurance company.
If you file a car theft claim but don’t have all the keys, your claim may be denied. Before filing your insurance claim, your insurer may request that you produce both of your car keys, and if you fail to do so, your claim may be denied.
How Can a Key Replacement Cover Be of Assistance to You?
Conduct a thorough search in all conceivable locations before having a duplicate key created. Because the key replacement policy limits the number of claims you may make during a policy term, you will be responsible for the expenses if you exceed that limit.
The breakdown service provider will come and fetch you if you have locked your keys in the car and you do not want to pay anything.
To avoid damaging your lock, some insurers provide the option of having your extra key picked up and brought to you. However, if you have key replacement insurance coverage, you may claim the costs associated with the replacement of old keys and the creation of new keys.
Summary:
The key replacement coverage for the car pays for replacing a lost or stolen automobile key. If you have misplaced your keys, it is usually a good idea to get them replaced with a fresh set. You can choose this cover or any other plan of your choice, such as debit card insurance, in the Bajaj Finserv Portal.