Key Replacement Add-on Cover

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Disclaimer:Tata Capital Limited (“TCL”) registered with IRDAI (License No. CA0896, valid till 21-Jan-2027), acts as a Corporate Agent “Composite” for Go Digit General Insurance Limited. Please note that, TCL does not underwrite the risk or act as an insurer. For more details on the risk factors, terms and conditions please read sales brochure carefully of the Insurance Company before concluding the sale. Participation to buy insurance is purely voluntary.

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Terms and conditions

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What is Key Replacement Add-on Cover in Car Insurance?

Key and Lock Protect is an add-on cover in Car Insurance where the insurer will compensate the cost incurred by the policyholder for key replacement or repair, the cost of installing a new lockset in the insured vehicle, and locksmith charges.

With this add-on cover, you can ensure that the cost arising from replacing the car key or the lockset is taken care of by the insurer, with you paying an additional amount as a premium. 

Note: Key Replacement add-on cover in Car Insurance has been filed as Digit Private Car Key and Lock Protect with Insurance Regulatory and Development Authority of India (IRDAI) with UIN number IRDAN158RP0005V01201718/A0068V01202021.

Why is it important to use the Key and Lock Replacement Add-on Cover?

Having the Key and Lock replacement add-on cover is essential because it is likely that the keys of the insured car can get damaged, stolen, lost, or misplaced at any time, even though you are cautious about it. The key replacement cover can come in handy and helps with covering the expenses incurred. 

What is covered under Digit’s Car Insurance Key and Lock Protect Add-on Cover?

Loss of Insured Vehicle’s Keys

The car key replacement insurance add-on cover enables the insurer to get compensation for the cost incurred as part of the lost key cover of the vehicle’s key in case of theft or burglary or accidental loss during the policy period. However, the policyholder shall report the theft or burglary  immediately or within three days of the incident and lodge an FIR with the police to obtain a crime reference and lost property report.

Installation of New Lockset

In case the lockset of the insured vehicle needs to be replaced, the insurer will indemnify the cost incurred for the installation of the new lockset, provided there is a security risk arising out of incidence of lost keys for the vehicle. The charges incurred for the locksmith are also included in the cover. It needs to be mentioned here that the replaced lockset should be of the same make, model, and specification as the one for which the claim is being made. 

Key and Lock Repairing Cost

If the insured vehicle is broken and damaged, the insurer will compensate you for the expenses incurred for repairing or replacing the lockset, including locksmith charges. 

What is not covered?

The insurer will not cover expenses incurred under the Car Key Cover Insurance for the mentioned things listed below: 

  • No claim will be entertained where the policyholder cannot provide payment receipts regarding lost car key replacement of the insured vehicle.

  • The insurer will not indemnify if the repair is not carried out in the manufacturer’s authorized dealership or Digit’s authorized repair shop. 

  • Damage caused to the vehicle keys/lockset due to wear and tear, mechanical/electrical breakdown, cleaning, repairing, restoring or anything which happens gradually is not covered.

  • Any claim notified/reported to the insurer for police authorities after three days of the incident will not be entertained.

  • The cost incurred for replacing only the child parts of the insured vehicle’s keys/lockset.  

  • Damage caused to the key/lock/lockset of the insured vehicle done deliberately.

  • Loss/damage covered under manufacturer’s warranty. 

  • Any pre-existing damages.

  • Claim made for duplicate vehicle keys.

Disclaimer - The article is for informational purposes, collected across the internet and with respect to Digit’s Policy Wordings document. For detailed coverage, exclusions, and conditions about Digit Private Car’s Key and Lock Protect add-on cover (UIN: IRDAN158RP0005V01201718/A0068V01202021), go through your policy document carefully.

FAQs About Key Replacement Add-on Cover in Car Insurance