Car insurance serves as a vital safety measure for vehicle owners, providing protection against possible financial losses resulting from theft or damages due to accidents. It consists of two types: Comprehensive policy and third-party liability coverage.

Third-party is the fundamental and straightforward coverage, whereas comprehensive insurance offers broader protection. Numerous add-ons are available with the latter to improve safety. Key Protection (KP) is one such rider that benefits many drivers. Let’s explore this add-on in detail.

What is Covered Under Key Protect Cover?

The Key Protection (KP) add-on in comprehensive car insurance generally covers the expense of replacing or repairing lost, stolen, or damaged keys. This coverage proves helpful in scenarios where the keys are misplaced or the locks are compromised. If your keys are lost or damaged due to an accident or another covered incident, KP can assist in replacing them at minimal to no additional cost.
Key Protection coverage may also include replacing keyless entry systems and remote fobs if they are part of the car’s security system. In some instances, the rider might cover locksmith service costs and the transportation needed to get your vehicle to a repair shop, contingent on the terms.

Benefits of Having KP in Car Insurance

Incorporating the Key Protection rider into your car insurance policy can provide significant advantages. Some of the primary benefits include:

1. Cost Savings:
   Replacing keys, particularly for advanced key fobs or keyless entry systems, can be costly. KP ensures that you won’t have to shoulder the entire expense.
2. Convenience:
   Rather than scrambling for solutions upon losing your keys, KP provides reassurance, knowing that the insurance provider will manage the replacement or repair process.
3. Added Security:
   In situations where keys are lost or stolen, KP ensures you won’t have to fret over your vehicle’s security. The expense to reprogram and replace the car’s locking system can be considerable, but the add-on typically covers this cost.
4. Comprehensive Protection:
   If you’ve chosen comprehensive insurance, including KP grants you more extensive coverage, offering greater protection against unforeseen events.
   Exclusions of Key Protect Cover
   While Key Protection provides a broad array of advantages, some exclusions exist that policyholders should be mindful of. These exclusions may differ based on the insurer, but common ones include:
5. Wear and Tear:
   KP generally does not cover damage resulting from normal wear and tear. If your key or keyless entry system deteriorates over time, it may not be eligible for coverage.
6. Negligence:
   If the keys are damaged due to careless actions or neglect, the policy may not reimburse the replacement expenses. For example, if the keys are damaged after exposure to extreme conditions or mishandling, KP might not apply.
7. Pre-existing Damage:
   Keys that were already damaged before the policy was acquired may not fall under Key Protection.
8. Limited Coverage for Spare Keys:
   Some policies might only pay for the replacement of the primary keys used for the vehicle and exclude the spare keys.
9. Specific Key Fobs:
   If the key fob or electronic system of your vehicle is not included in the policy, you might not be able to claim for its repair or replacement.
   
   Cost of KP in Car Insurance
   
   The expense of including Key Protection in your comprehensive car insurance policy is generally quite economical when compared to the possible cost of replacing or fixing damaged keys. The precise price will depend on the insurance provider, the make and model of your automobile, and the level of coverage you select.
   Overall, KP can typically be added for a modest extra premium, usually ranging from a few hundred to several thousand rupees each year. However, it is crucial to compare costs and understand what is included in each plan prior to your purchase. Some insurers provide bundled packages that incorporate KP as part of a wider protection plan.
   How to Buy Key Protect Cover Online?
   Acquiring Key Protection as an additional feature to your comprehensive car insurance policy is simple and can often be completed online. Here’s a straightforward guide on how to add it:
   
   Visit the Insurer’s Website:
   Commence by going to the insurer’s website.
   
   Check Available Add-ons:
   Search for riders under your current car insurance plan. Key Protection should be available as one of the add-ons listed.
   
   Select KP:
   Choose Key Protection from the available add-ons list and review the coverage specifics, including exclusions and benefits.
   
   Add to Policy:
   When you are content with the coverage, simply add it to your policy. You might need to provide information such as your vehicle’s make and model and payment details.
   
   Make Payment:
   Finalize the payment for the additional coverage and receive your updated policy documents through email.
   
   Confirmation:
   Ensure you obtain confirmation that the Key Protection coverage has been integrated into your policy. You can then feel secure knowing your keys are protected.
   Claiming Under KP in Car Insurance
   
   If you find yourself needing to make a claim under Key Protection, the procedure is usually quite simple:
   
   Report the Loss or Damage:
   Promptly notify your insurer about the lost, stolen, or damaged keys. You may have to provide evidence of the incident or an official report, especially if the keys were stolen.
   
   Submit the Claim:
   Present the required documentation to your insurer, which may include a receipt for the replacement or repair of the keys. Some insurance companies might ask you to get quotes from certified locksmiths.
   
   Approval and Payment:
   Once your claim is reviewed and approved, the insurer will pay for the key replacement or repairs according to the policy terms. If needed, the insurance company may arrange for a locksmith to come to your location.
   
   Deductibles:
   Keep in mind that some policies may have a deductible for claiming KP. This means that it will decrease the amount you receive from the insurer.