Many people often go through the frustration of losing their car keys. With mid and high-end cars having encrypted and computer coded keys, approaching locksmiths for duplicate keys is no more a solution. Only authorised service centres can provide car key replacement, that too at relatively high costs.
If you frequently lose your car keys, the best is to buy a key replacement cover. This insurance policy provides financial protection against the expenses incurred to create duplicate car keys.
One of the most prominent financiers, Bajaj Finserv offers Pocket Insurance schemes such as key replacement insurance along with several other types of policies. It is an extensive policy which provides coverage for the labour costs involved in the replacement of both the lock and key.Â
How can the key replacement policy benefit customers?
Customers can enjoy various benefits with this customised insurance policy. Below are some of those:
- Avail high value up to Rs. 20,000 against an affordable premium of only Rs. 499.
- If replacement takes more than 24 hours, the cost of a rental car shall be reimbursed.
- It also reimburses the cost of looking for a locksmith if you get locked out of your car.
- This scheme further offers break-in protection, covering labour cost for lock replacement if anyone breaks into the car. You can also opt for small gadgets insurance along with the key protection cover to protect yourself against financial loss if any item is stolen after a break-in.
A car key replacement cover is especially ideal for people who are forgetful and often lose their keys.
Things to do immediately after the loss of key
Once you discover about the loss or lockout, you must immediately follow the steps below:
- Either contact Bajaj Finserv via phone call or send a written letter detailing the incident. This must be done within 24 hours of finding the key loss.
- Also, inform the police and file an FIR within 24 hours.
- Submit the duly filled claim form along with all relevant documents to the insurer within three days of the incident.
The documents needed to process your claim include one copy of the FIR, receipts of lock and key replacement, etc.
The Motor Vehicles Act, 1988 mandates car insurance policy for every vehicle to run on the Indian roads. Therefore, along with the car key replacement scheme, Bajaj Finserv also provides car insurance plan for your vehicle. It is a comprehensive policy which covers the following:
- Damage from self-ignition or fire
- Damage due to transportation by airway, waterway, rail, road or elevator.
- Any loss incurred due to malicious activities, riots, theft or terrorist activities.
- Compensation provided for permanent disabilities or death.
- Any loss occurred from natural calamities such as earthquake, lightning, floods, fire, etc.
The policy also provides accident cover for the insured vehicle’s driver or owner. If you own other vehicles like scooters, bikes, etc., you should buy a motor insurance plan which provides coverage against –
- Physical damage caused due to man-made or natural calamities or accidents
- Liability for third party injury or damage
- Loss incurred from theft
It also comes with benefits like roadside assistance, engine protection, loss of personal belongings, repair of various parts, consumable expenses, cashless claim settlement, etc.  Â
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With Bajaj Finserv, customers can also enjoy add-on covers, including No Claim Bonus Protection, Zero Depreciation Cover, 24×7 Road-side Assistance, etc. The premiums are determined depending on the vehicle’s model, IDV (Insured Declared Value) and past claim history. Opt for online premium calculation and enjoy 24×7 support for claim settlement.
So, next time you lose your car keys, be assured of receiving complete financial assistance against the incurred expenses with car key replacement. Avail the most suitable insurance plan from top financial companies at affordable premiums.
