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What is Key & Lock replacement cover in Car insurance? – Explained in Detail

Key protection cover or Key replacement cover is an add-on in Car insurance policy provided by the insurance companies. In case of loss of key or damage to the lock the insurer will settle the claim amount up to the limit as specified in the policy copy. The sum insured for this add-on ranges from Rs. 50k to Rs.5 Lacs depending on the insurance company and the IDV of the car.

With the fast paced life and so many things to attend in our daily life, it is normal to forget few things. But this should not take a huge toll on your pocket. For example, if you misplace the keys of your small range car, replacement can be obtained with a few thousand bucks. But for the mid and high end cars you might end up burning a deep hole in your pocket.

The car key protection or car key replacement add-on can be purchased with online car insurance platform after comparing the car insurance quotes from different insurers. Car insurance premium is calculated using the car insurance premium calculator and the best quotes can be selected by you depending on your preference.

Manual Car Keys v/s Automatic Car Keys:

Till 2000s there were manual keys for cars and also the process of replacing the lost was quite simple. Any experienced locksmith could create a duplicate key if you misplace the original key due to any reason. This duplicate key wouldn’t cost more than Rs.1000.

Since the cost of replacing manual keys was very much affordable, car owners never paid heed to purchase key protection cover. But with the entry of high end car locking systems this scenario has been completely changed.

The rapid growth in technology has led to the introduction of high end automatic car key to prevent the vehicle from getting stolen. These keys are a bit costly compared to the manual ones. Mostly Frequency Operated Button (FOB) keys or Remote controlled keys are available in the market and replacing these could be a cumbersome process if done locally.

What does Car key replacement cover include?

The car key replacement or car key protect cover is an add-on available in the comprehensive car insurance policy on payment of additional premium. The insurance company will settle the claim up to the specified amount as mentioned in the policy copy. Here is the list of things that are covered under the car key replacement add-on:

  • Lost / Stolen keys: It is sometimes unfortunate that the keys will be lost or stolen and this can lead to the theft of the car in some cases. In such scenarios the insurance company will reimburse the cost of replacing the lost or stolen keys. The cost of purchasing a new set of keys from the Car showroom / OEM will be borne by the insurance company up to the specified limit.
  • Break-in of the Car: Damage to the lock and keys of the car in case of attempted burglary will be covered under the key protect or key replacement cover. The cost incurred to replace the lock and keys will be reimbursed by the insurance company as specified in the policy schedule.
  • Damage to lockset: There is a chance that the lockset of the car may be damaged due to an accident and which results in the repair or replacement of the lockset. In this case the insurance company will reimburse the amount to repair or replace the damaged lockset.

Who should take Car key replacement cover?

  • If you are parking your car in the open, then there is high risk that the car might be stolen or an attempt might be done to steal the car. In this case having a key replacement can protect you from the cost incurred to replace the lockset of the car.
  • In case if you lose your keys or misplace your keys then the cost incurred for replacement could be quite high for mid and high range segment cars. Having key replacement or key protect cover could help you with the replacement amount.
  • Anyone purchasing a new technology car where the lock is operated with a remote key should have this add-on.

Premium v/s Returns:

The premiums charged by the insurance companies for the car key protect cover or key replacement add-on is nominal. It could be around 5% of the total premium but the coverage would range from Rs.50k to Rs.5lacs depending on the model of the car. 

For best online car insurance quotes please visit and check for the best car insurance renewal quotes and compare car insurance quotes.

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