Benefits of Choosing Car Key Replacement Insurance
A car key replacement insurance plan significantly reduces the financial burden on the vehicle owner in case of an unfortunate event of theft or damage to the same. With the help of key safeguard insurance covers, individuals can easily claim financial protection against expenses incurred for the issuance of a new car key. The cost of replacing keys of a high-end luxury car amounts to Rs.8,000 or even more, which causes an immediate financial liability for the owners. Individuals can thus reduce the burden of such expenses emerging from unforeseen circumstances by purchasing a car key replacement insurance scheme. Advantages of car key replacement insurance policies Individuals who acquire car key replacement insurance plans can explore several financial benefits extended to unforeseen and unpredictable events. An individual can, therefore, purchase insurance plans for several events leading to the loss of car keys. Financial institutions offer multiple benefits to individuals acquiring these insurance policies in the following ways –
  1. Coverage to premium proportion
Financial institutions and insurance aggregators offering key safeguard plans often provide affordable premiums in return for high financial coverage of the unexpected damages. Individuals purchasing stolen car key insurance can claim considerably higher financial protection in case of theft. Insurance aggregators reimburse the cost of making a new key for the same car as per costs charged by locksmiths. This feature is beneficial because individuals can access extensive reimbursement amounts at a proportionally low premium rate.
  1. Reimbursement of lock-making charges
Individuals purchasing car key replacement policies benefit from quick reimbursement of lock-making charges in case of a break-in or a lock-out. With the availability of proper claim documents and the invoice of lock-making services, individuals can receive their reimbursements quite quickly, thereby curbing long term financial liabilities.
  1. Convenient application process
One of the central benefits of key safeguard insurance products includes the convenience of applying for a suitable insurance plan from a financial institution. The online application process through the official website of an insurance aggregator also authenticates the financial protection. Individuals also have the chance to make premium payments using mobile wallets, UPI, net banking, and credit or debit card. Individuals can thus easily insure their car keys online to ultimately reduce the financial burden linked to the misplacement or theft of car keys.
  1. Associated facilities
Leading insurance aggregators in the insurance market also offer certain additional facilities to a customer’s existing insurance plan. Individuals can benefit from emergency cash services from financial companies in the event that they are stranded in remote areas without enough cash to meet accommodation requirements. Besides stolen car keys insurance claims, reputed insurance providers also offer card blocking services in case of theft to prevent identity frauds. These plans also provide emergency services during vehicular breakdowns while on a journey. Car-owners can purchase Key Safeguard insurance plan from Bajaj Finserv, a leading insurance aggregator, under Pocket Insurance & Subscriptions. With this insurance cover, individuals can secure themselves financially against expenses emerging from theft, misplacement, or damage to car keys. Individuals can also purchase a road trip travel insurance policy to enjoy a hassle-free road trip. This plan also protects an individual from expenses incurred due to personal accidents or breakdown of their cars. Those going on vacation have the option to purchase a personal trip effects cover to insure their luggage against theft and misplacement for a worry-free and memorable trip. Car owners can thus purchase key safeguard insurance policies to avail the benefits mentioned above against affordable premiums, as well as other associated facilities like roadside assistance.

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