Key Protect (KP) Cover in Car Insurance – Complete Guide

What Is Key Protect (KP) Cover in Car Insurance?

The Key Protect in car insurance is an add-on that you can buy alongside a standalone OD or comprehensive car insurance policy. This add-on covers the costs incurred on repairing or replacing stolen, lost and damaged car keys.

Your car keys are an essential component of the vehicle, which help you start/switch off the vehicle, open/lock the vehicle and so on. Additionally, modern car keys and locking mechanisms are equipped with smart electronics. So, if they are damaged or lost, it can be quite expensive to replace them.

But if you get the add-on called Key Protect in car insurance, you won’t have to worry about bearing these costs from your own pocket.

What Does Key Protect Cover Include?

Now that you know the answer to “What is Key Protect in car insurance?” you need to understand its coverage scope. This add-on in car insurance usually covers:

1. Lost or stolen keys: It covers the cost of replacing misplaced, lost or stolen car keys.
2. Damage to the lock due to theft or burglary: It covers the cost of replacing/repairing the car lock if it breaks due to theft or attempted theft and burglary or attempted burglary.
3. Damage due to an accident: It covers damage to the car keys resulting from an accident.
4. Locksmith charges: Some insurers may even provide coverage for the locksmith charges under this add-on.

Advantages of Adding Key Protect Cover to Your Car Insurance

These are some major benefits of investing in the Key Protect in car insurance:

1. Practical coverage scope: The Key Protect add-on covers the car keys and lockset against damage or loss due to specified conditions.
2. Financial protection: It saves you money by indemnifying the expenses incurred on replacing/repairing lost, damaged or misplaced keys.
3. Lower downtime: With its financial cover, you can easily replace/repair the car keys, reducing the wait time to get back behind the wheel.
4. Peace of mind: Investing in the KP in car insurance adds an extra layer of protection to the policy coverage.

What Is Not Covered Under Key Protect Add-On?

The Key Protect car insurance add-on doesn’t offer coverage for certain situations, such as:

1. Damage or loss of the vehicle keys, lock or lockset due to involvement in criminal, deliberate or malicious activities.
2. Loss or damage that is covered under the warranty of the manufacturer.
3. Any pre-existing loss or damage to the lock or keys prior to the loss incident.
4. Any losses that are consequential in nature.
5. Damage or loss to any part of the insured car other than its key and associated lockset and mechanism.

How Much Does Key Protect Cover Cost?

The cost of the Key Protect add-on varies depending on your vehicle’s make and model, and the insurance provider. Generally, it is a few hundred rupees, which is quite affordable.

The cost of repairing/replacing push-start systems, smart keys and high-tech, modern car keys can set you back several thousand rupees. So, considering the coverage scope this add-on has, the extra cost that you have to bear for it is more than justified.

How to Purchase Key Protect Cover Online?

Buying the Key Protect in car insurance is very simple. Here’s how to do it via Jio Insurance Broking:

1. Go to the Jio Insurance Broking Car Insurance page.
2. Type in your car’s registration number and your mobile number.
3. Click “Get Free Quotes” and choose your car’s make, model & variant.
4. Enter the registration date and the last policy details.
5. Choose the policy type you want to buy.
6. Click on “Add-Ons” and add “Key Replacement Cover.”
7. Choose a plan from your preferred insurer and pay the premium.

With this, the purchase of your car insurance with Key Protect is complete, and the policy is issued.

How to File a Claim Under Key Protect Cover?

Filing claims under KP in car insurance is really simple. Here are the steps for it:

1. Notify: Contact the insurer via toll-free number or email for the claim intimation.
2. File police report: If vehicle keys were lost or stolen, you need to file a report at the nearest police station.
3. Get it replaced/repaired: Have your keys or lockset repaired/replaced and keep the bills and invoice.
4. Submit documents: Submit the duly filled claim form to the insurer alongside the supporting documents.
5. Receive compensation: Upon approval, the insurer will indemnify the costs incurred for the key repair/replacement.

Is Key Protect Cover Worth Buying?

Incidents of damage and loss of car keys are more common than you may think. The costs incurred in replacing/repairing the keys and lockset can set you back thousands of rupees, especially if your car has a smart key system. With Key Protect in car insurance, you can save yourself from covering such high costs from your pocket and add an extra layer of protection to your car insurance cover.

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