Introducing Key Replacement Insurance By Bajaj Finserv
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Introducing Key Replacement Insurance By Bajaj Finserv

  • Highlights

  • Buy key replacement insurance to cover loss or theft of keys

  • Get coverage of labour cost for lock replacement

  • Make a claim within three days of the incident

  • Submit a copy of the FIR as well as original bills to get full remittance

A simple misplacement of home or car keys can have serious, and oftentimes overlooked, financial consequences—whether it’s the cost of replacing the locks on your home, or hiring a rental car until your car keys are replaced. If you’re a home or vehicle owner looking for added protection, Bajaj Finserv offers a policy that specifically caters to all key replacement needs.

Here are the benefits of the policy, and why it could be the key to your peace of mind.

Policy coverage, and what it includes

The key replacement insurance is an extensive policy that covers the cost of creation of duplicate keys for your house or car, reimbursement for the labour cost with regards to lock replacement, and also the cost of a rental car if your vehicle’s keys are not replaced within 24 hours. The policy will also cover the cost of locating a locksmith if you are locked out of your house or car, as well as break-in coverage, limited to the cost of a locksmith.

What the policy does not cover

It is important to note that the policy only covers cars intended for personal use. Coverage does not extend to include the cost of replacement of keys of secondary vehicles or residences—you must have a separate policy for each house or car to avail insurance benefits.

Step-by-step guide to claiming your coverage

To claim your coverage, you must submit a claims form along with a report that details the incident. You will also have to submit a copy of an official police FIR detailing the incident, as well as receipts of key replacement costs. The police FIR must be filed within 24 hours of the incident. To obtain a claims form, you can submit a written intimation letter within 24 hours or call on 1800-11-9966. Lastly, ensure that you submit all claims forms within 3 days.

With these details in mind, make sure that you buy key replacement insurance as soon as possible. With ample coverage at a nominal price, it is most certainly worth the peace of mind.

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