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Key Replacement Cover

It’s not uncommon to be a little forgetful at times when we have so many things to take care of in our life. However, this forgetfulness can be costly at times. One of these is misplacing your automobile keys. The Key Replacement Cover is an optional coverage that covers the cost of replacing the insured car’s key if it is lost, damaged, or stolen. If the automobile lock is damaged, the lost key add-on also compensates you for the expense of fixing the lock-set.

The Key Replacement Add-on, for an extra premium, will cover the costs of replacing the covered vehicle’s key. This could be the expense of replacing a lost, broken, or stolen key, or the cost of repairing a lock-set if the lock or key is damaged.

Why Is Key Replacement Cover Important?

The Indian automobile market has evolved considerably through time. Automobile makers are increasingly relying on advanced technology to provide safer and more feature-rich vehicles. The key, lock, and lockset are examples of improvements. While some of these technologies were previously only available in premium cars, they are now being offered in some of the greatest or most popular vehicles.

This value-added service in the shape of a Key Replacement Cover, on the other hand, allows you to be reimbursed for the cost of lost keys as well as the lock if it needs to be replaced. Most insurers will also pay the expense of replacing the lock. However, the number of times you can utilize this add-on cover within a policy period varies depending on the insurer.

Why Replacement of Keyless FOB/Remote Key is Expensive?

The FOB has the same security features as your car key. You should replace it if it is damaged, stolen, or lost. The remote key features a one-of-a-kind computer-generated code that is programmed to match the code in your car’s locking system. Apart from the fundamental lock/unlock feature, the features can vary according to brands and models, and the cost might increase based on the number of advantages it offers.

As a result, the more functions a keyless FOB or remote key has, the more it costs to replace or repair it. Because these exorbitant costs are related to your car’s security, a Key Replacement Add-on will protect you from them.

Who Should Buy Key Replacement Car Insurance?

Want to know whether you should buy it or not? If so, let’s check out these circumstances to check if you are suitable for it or not.

  • If you park your automobile in the open, there is a considerable possibility that it will be robbed or that an attempt will be made to take it. In this situation, getting a key replacement can save you money on the expense of replacing the car’s lockset.
  • If you lose or forget your keys, the cost of replacement could be fairly costly for mid and high-end vehicles. Having a key replacement or key cover could help you save money on the replacement cost.
  • This is a must-have accessory for anyone buying a modern technology automobile with a remote key lock.

What Is Included & Excluded in the Key Replacement Add-on Cover?

Here’s the list of inclusions and exclusions of car key replacement add-on cover:


As previously stated, this is an add-on option that will pay you back for the cost of replacing your car key in the following circumstances:

  • Loss
  • Damage
  • Theft

In the event of damage or burglary, some insurance companies will even pay for lockset repairs.


  • If the automobile key(s) are damaged or lost as a result of the insured’s malicious, criminal, or purposeful actions, the claim will be denied.
  • Any claims for damages or losses covered by the car manufacturer’s warranty or any service contract will be denied.
  • The claim will be refused if the policyholder is unable to present receipts or invoices for any payments.
  • Additionally, if the damage or loss is caused by radiation, dangerous properties of any corrosive or any toxic substance, then your claim may be denied.
  • If additional parts of the FOB, such as the lock, ignition system, infrared handset, and/or alarm, are damaged or lost in addition to the keys.
  • If the key that has been damaged does not pertain to the insured vehicle.

Frequently Asked Questions

Here’s the list of the frequently asked questions related to the key replacement cover.

Replace or repair the lockset, then file a reimbursement claim by sending the invoice or bill for the insured vehicle’s key replacement.

Based on the terms and conditions of the policy, the insurance provider will refund the cost of repairing the lock/lockset. The key will only be replaced if it is damaged, lost, or stolen.

If your automobile is stolen, your insurance company will demand that you present the spare key (s). If you do not deliver the keys, you may find yourself in serious trouble, and your claim may be denied.

A local locksmith can duplicate a car key. However, because the electronic code is known by the local locksmith, these keys are not secure.