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.
We take your safety seriously
6500+
Cashless garages
Jet-speed
claims
Upto
50% No Claim Bonus
24/7
Around the clock assistance
Note: The above data is till 1st April, 2025
What is a key replacement cover?
Importance of key replacement add-on
Other add–ons available with car insurance policy by Zurich Kotak General Insurance
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
Cashless garages near you
Buying a car insurance gives access to cashless network garages which provides convenience and hassle-free car repairs covered by Zurich Kotak General Insurance without the need for upfront payment.
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.
Important car insurance terminologies you must know
Insured Declared Value (IDV)
IDV is the maximum sum your insurer will pay if your vehicle is stolen or declared a total loss. It reflects your car’s current market value after depreciation. Setting the right IDV helps balance your car insurance premium and claim amount.
No Claim Bonus (NCB)
NCB is a discount on your car insurance premium earned for each claim-free policy year, starting at 20% and going up to 50%. It’s transferable when switching insurers and encourages safe driving habits.
Depreciation cover
A depreciation cover, often called zero depreciation add-on, ensures your claim amount isn’t reduced due to part depreciation. It covers full replacement costs of damaged parts, excluding wear and tear, during a valid claim.
Premium
The premium is the cost you pay to keep your car insurance policy active. Factors like IDV, vehicle age, coverage type, add-ons, and claim history influence the premium amount.
Coverage in car insurance policy
Coverage refers to the protection your car insurance policy offers—ranging from third-party liabilities to own-damage protection against accidents, theft, fire, and natural or man-made calamities.
Own Damage cover
Own Damage cover protects your vehicle against accidental damage, theft, fire, and natural disasters. It’s available as part of a comprehensive policy or as a standalone cover alongside third-party insurance.
Cashless claims
Cashless claims let you get repairs at authorised network garages without paying the full bill upfront. Your insurer directly settles the approved amount with the garage, reducing out-of-pocket expenses.
Comprehensive Insurance
Comprehensive insurance offers complete protection by combining third-party liability cover with own-damage coverage, plus the option to add extra benefits through add-ons for enhanced security.
Deductibles
A deductible is the fixed amount you must pay from your pocket before your insurer covers the remaining repair cost during a claim. Choosing a higher voluntary deductible can lower your premium.
Third-Party Liability
Coverage that compensates for damages or injuries caused to another person, vehicle, or property.
Personal Accident Cover
Compensation for injuries, disability, or death of the insured person due to an accident.
Endorsement
A modification or addition to the existing insurance policy.
Cashless Garage Network
A list of garages where repairs can be availed without paying upfront, as the insurer settles the bill directly.
Claim Settlement Ratio (CSR)
The percentage of claims settled by an insurance provider against the total claims received.
Roadside Assistance (RSA)
An add-on service that provides help in case of breakdowns, flat tires, or battery failure.
Grace Period
The additional period after policy expiry during which the policyholder can renew their insurance without losing benefits.
Frequently Asked Questions
Questions you may have about Zurich Kotak General Insurance
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.