Key Replacement Cover Add-on
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The claim settlement ratio is considered only for Own Damage and Theft claims in the financial year 2024-25 (Source - https://www.zurichkotak.com/public-disclosure)
Note: The above data is till 1st April, 2025
What is a key replacement cover?
Losing or damaging your car keys is one of those problems that always seems to happen at the worst possible time. With modern cars, it’s no longer just a matter of cutting a spare key at the local shop, as most keys now come with electronic chips, remote locking, or even smart sensors, which can cost thousands of rupees to replace. Add in the hassle of getting locks reprogrammed or changed, and what seems like a minor issue quickly becomes expensive. This is where a key replacement cover in car insurance proves its worth. It’s a simple add-on that covers the cost of replacing or repairing keys and locks, helping you avoid sudden high bills while keeping your daily routine stress-free.
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Importance of key replacement add-on
Paying a little extra for the Key Protect Add-on with Zurich Kotak can make a significant difference in avoiding stress and unexpected expenses. Here’s why it’s worth considering:
What is Covered and Not Covered Under Key Replacement Cover in Car Insurance?
Covered Under Key Replacement Cover:
● Lost or Stolen Keys: Reimbursement for the cost of replacing lost or stolen car keys up to the sum insured.
● Damaged Keys: Coverage for repairing or replacing keys damaged accidentally or due to covered perils.
● Lockset Replacement: If keys are stolen, Zurich Kotak covers the cost of replacing or reprogramming the entire lock and lockset to ensure vehicle security, subject to claim approval and policy limits.
● Smart Key/Fob Repairs: The car insurance add-ons includes reprogramming or replacing advanced electronic keys and remote fobs, provided the repairs are done at authorised centres with the insurer's consent.
● Locksmith Charges: Reimbursement for locksmith services needed to unlock or replace locks due to key loss or theft, subject to valid bills.
● Towing Charges: Some policies may cover towing costs when the vehicle becomes immobile due to key loss; this varies by plan and should be confirmed with Zurich Kotak.
Not Covered Under Key Replacement Cover:
● Normal Wear & Tear: Routine deterioration or damage of keys and locks is not covered under the policy.
● Negligence: Claims resulting from gross negligence or carelessness, such as leaving keys unattended in public, may be rejected.
● Unreported Theft: Filing a First Information Report (FIR) is mandatory for claims involving stolen keys; failure to do so may result in the claim being denied.
● Unauthorised Repairs: Any replacement or repair costs not pre-approved by Zurich Kotak or done without authorisation are excluded.
● Non-Car Keys: The policy does not cover losses related to house keys or other personal keys.
● Claim Limits: Key replacement claims are subject to a maximum annual claim amount, as specified in the policy documents.
How to Buy Key Replacement Cover in Car Insurance?
Buying Key Replacement Cover with Zurich Kotak is easy and can be done online or offline:
Online Purchase:
● Visit Zurich Kotak’s official website.
● Navigate to the Car Insurance section.
● Enter your car details (registration, model, variant).
● Select a comprehensive insurance policy.
● Select the Key Replacement Cover add-on, along with other options such as Zero Depreciation or Roadside Assistance.
● Review the premium and coverage details.
● Pay securely via UPI, net banking, or debit card/credit card.
● Download your updated policy instantly via email or SMS.
Offline Purchase:
● Visit the nearest Zurich Kotak branch or contact an authorised agent to add the cover during purchase or renewal.
Important: Key Replacement Cover must be opted for at the time of policy purchase or renewal, as mid-term additions are generally not allowed.
How to File a Claim for Key Replacement Cover in Car Insurance?
● Claim Intimation: Inform Zurich Kotak immediately via helpline, app, or website if your keys are lost, stolen, or damaged.
● Provide Details: Share policy number, car registration, and incident specifics.
● Documentation: Submit FIR for theft, vehicle RC, driving licence, and claim form.
● Surveyor Inspection: A surveyor may verify claim details if required.
● Replacement: Proceed with key or lock replacement at an authorised service centre after insurer approval.
● Claim Settlement: Zurich Kotak reimburses approved expenses directly or pays the garage for cashless claims.
How to File a Claim for Key Replacement Cover in Car Insurance?
● Claim Intimation: Inform Zurich Kotak immediately via helpline, app, or website if your keys are lost, stolen, or damaged.
● Provide Details: Share policy number, car registration, and incident specifics.
● Documentation: Submit FIR for theft, vehicle RC, driving licence, and claim form.
● Surveyor Inspection: A surveyor may verify claim details if required.
● Replacement: Proceed with key or lock replacement at an authorised service centre after insurer approval.
● Claim Settlement: Zurich Kotak reimburses approved expenses directly or pays the garage for cashless claims.
Things to Keep in Mind While Filing a Key Replacement Claim
When filing a Key Replacement Car Insurance Claim, keep these important points in mind:
● Always inform the insurer immediately after the incident.
● File an FIR in the event of theft to ensure a smooth claim processing.
● Do not carry out unauthorised repairs or replacements; always seek insurer approval first.
● Keep all original receipts, invoices, and documents in a safe location.
● Check your policy’s claim limits, as many insurers restrict the number of claims you can make per year.
● Ensure your add-on is active; expired or lapsed policies are not eligible.
By following these tips, you avoid delays and ensure faster claim settlement.
Who Should Buy Key Replacement Cover in Car Insurance?
This add-on is beneficial for all car owners, but especially recommended for:
● Owners of Modern Cars: Vehicles with transponder keys or smart key fobs that are expensive and complex to replace.
● Urban Drivers: People living in cities with higher risks of key theft or loss.
● Frequent Travellers: Those who drive long distances regularly and cannot afford to be stranded due to lost keys.
● Luxury Car Owners: Owners of high-end vehicles, where key replacements can be extremely costly.
● Families Sharing Cars: Multiple drivers increase the risk of misplacing or losing keys.
If replacing your car keys is costly or stressful, opting for this add-on with Zurich Kotak offers valuable financial protection and peace of mind.
Key Replacement Cover Premium in Car Insurance
The cost of a Key Replacement Cover depends on several factors:
● Car Make and Model: Premium cars with advanced smart keys attract higher add-on costs.
● Coverage Type: Whether the cover includes only keys or both keys and locks.
● Policy Term: The premium differs for one-year and multi-year policies.
● Add-ons Selected: The total premium varies depending on the other add-ons chosen, along with the Key Replacement coverage.
Given the high cost of modern keys, this small extra premium offers significant financial relief during emergencies.
Other add–ons available with car insurance policy by Zurich Kotak General Insurance
Zurich Kotak General Insurance offers a range of add-on covers to enhance your car insurance policy, providing additional protection tailored to your specific needs. Here are some notable add-ons:
Depreciation Cover
Depreciation cover add-on ensures that during a claim, depreciation on replaced parts is not deducted, allowing you to receive the full claim amount without factoring in depreciation.
Consumables Cover
Covers the cost of consumable items such as engine oil, nuts and bolts, and other materials that require replacement due to damage from an insured event.. Know more about car insurance consumables add on coverage.
Engine Protect
Offers coverage for damages to the engine and gearbox resulting from incidents like water ingress or lubricant leakage, which are not typically covered under standard policies. Know more about car insurance engine protect add on.
Return to Invoice Cover
In the event of total loss or theft of the insured vehicle, this add-on ensures you receive the original invoice value of the car, bridging the gap between the insured declared value (IDV) and the purchase price. Know more about car insurance return to invoice add on coverage
Tyre Protection Cover
Covers expenses related to the repair or replacement of tyres and tubes damaged due to accidental cuts, bursts, or bulges. Know more about car insurance Tyre cover add on.
24X7 Roadside Assistance
This add-on allows 24X7 assistance in the case of emergencies or when the car breaks down in the middle of the road. You can get assistance for flat tyres, fuel refill, jump starting the battery, etc. Know more about car insurance raod assistance add on.
Daily Car Allowance Cover
Provides a daily allowance to cover transportation expenses when your insured vehicle is under repair following an insured event. know more about car insurance daily car allowance add on.
NCB Protect
In the case of a claim, when the car is under repairs, the add-on pays a daily allowance which you can use to cover the cost of alternate transportation.
Loss of Personal Belongings Cover
Offers compensation for loss or damage to personal belongings, such as laptops and mobile phones, kept inside the insured vehicle during an incident. know more about car insurance loss of personal belongings add on.
Key Replacement Cover
Covers the cost of repairing or replacing car keys if they are lost, stolen, or damaged, including associated labor charges.
Clutch protect cover
Clutch Protect is an optional add-on cover available with vehicle insurance policies. It provides financial protection for the repair or replacement of the clutch plate if the insured vehicle becomes immobilized due to clutch burn.
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Frequently Asked Questions
Yes, Zurich Kotak’s Key Replacement Cover reimburses locksmith fees for unlocking or replacing locks due to lost, stolen, or damaged keys, subject to policy terms and valid bills.
Yes, it covers standard keys as well as electronic smart keys and key fobs, including costs for replacement, reprogramming, or repair at authorised centres.
Yes, claims made under the Key Replacement Add-on will impact your NCB as they are treated like other comprehensive policy claims.
It may be less critical for older cars with cheaper keys, but it still provides financial protection against theft or loss-related costs, offering peace of mind.
Yes, you can claim replacement of both keys if they are lost or stolen, provided you follow Zurich Kotak’s claim procedure, including filing an FIR when required.
Definitely, filing an FIR is mandatory for claims involving stolen keys with Zurich Kotak to validate and process the claim successfully.
Yes, making a key replacement claim may result in increased renewal premiums, as the insurer reassesses risk and claim history.
Owners of vehicles with electronic or smart keys who park in high-theft areas, or those seeking protection from expensive key replacement costs, should consider this add-on.
Yes, Zurich Kotak limits the number and amount of key replacement claims annually as per the policy terms and sum insured.