Lost your car keys? Know what to do next

By | December 23, 2019

Misplacing your car keys can create serious trouble in one’s everyday life. With an increasing number of vehicles utilising remote and encrypted car keys, replacing a lost car key has become a tough ordeal.

When such an incident happens, you have a few limited solutions available. Let’s take a look at some of the steps you can take after losing your vehicle’s keys.

What to do after you lose your car’s keys?

Use a backup key

Car manufacturers issue a set of duplicate car keys at the time of vehicle purchase. If you are prone to misplacing things, it may be a good idea to keep the duplicate key handy for emergency purposes. If you have such a backup key available, you can still access and drive the vehicle after losing your primary set of keys.

However, if a duplicate key is not provided, and you want to create a copy of the car keys, you might have to pay a substantial amount to your car’s manufacturer, depending on the make and model of the car. A Key Replacement Insurance policy offered by Bajaj Finserv under its Pocket Insurance & Subscriptions, on the other hand, helps overcome the financial loss by reimbursing the cost of making a duplicate key.

Requesting a replacement key from a car manufacturer

Since lost car keys are a common problem, vehicle companies offer key replacement facilities to customers. This process is expensive as well, apart from being time-consuming. In high-end cars, electronic remote unlock and keyless FOB’s are used to open and access the vehicle. A key maker cannot create duplicates for such keys.

Therefore, your only source for the second set of electronic car keys is the car manufacturer. However, even when you rely on the company for car key replacement, you need to shell a considerable sum of money.

Replacing the car’s lock

If your car keys are stolen, simply acquiring a duplicate car key will not prove enough. To maintain security for the vehicle, you must replace the entire lock system so that thieves are unable to gain access to the car. Lock replacement involves even greater costs.

This is one of the primary reason why you should avail a car key replacement insurance policy, as it refinances the cost of replacing your car’s lock.

Why must you avail a car key insurance scheme?

Listed below are some advantages of a key replacement insurance policy for your car.

1. No cost car key replacement

The insurance policy covers the entire cost of replacing your car keys. Therefore, if you purchase the policy, you would not need to spend any money on car key duplication from your own pockets.

2. Labour cost reimbursement

Apart from the cost of key duplication, such policies cover the expense related to mechanics in the event of a lock replacement. Labour cost can be substantial, based on the kind of lock on your car.

3. Break-in protection

Most car key insurance in India comes with an added clause offering full reimbursement of lock replacement costs in the case of a break-in. If you can prove that your keys have been stolen, the financier will cover the entire cost of a car lock replacement.

4. Reimbursement for rental cars

If the key replacement procedure takes more than 24 hours, the insurance scheme allows you to claim a rental car reimbursement. With this money, you can cover the cost of travel for the duration that your vehicle is still in the workshop undergoing lock replacement or key duplication.

5. Easy claim procedure

The claim procedures for these cover policies are extremely easy. In the case of a break-in, the first course of action is that of filing an FIR. Additionally, customers should also send a written application to their financial institution. Once all these documents along with key replacement bills are sent to the insurance aggregator, the reimbursement procedure begins.

6. Additional cover

The residential keys are also covered under car key replacement cover plans. This allows customers to protect their car as well as residential key and avail financial protection in case of either loss or theft.

Car keys are as costly as they are necessary for their users. Therefore, this prompt claim procedure on lost car key insurance plans is of immense help. For car owners stranded on road trips, a fast claim process is highly essential. They should check out the details of a Road Trip Cover plan like one offered by Bajaj Finserv among Pocket Insurance & Subscriptions in this regard.

If you like to explore new places on your car, you should also look for policies like solo traveller cover. Regardless of whether it is a simple car insurance policy, a key replacement scheme or a Road Trip Cover offered by Bajaj Finserv, adequate protection is essential for your vehicle. These simple and affordable insurance policies can help you secure your beloved car.