A comprehensive bike insurance gives holistic protection to your bike against damage, theft, and loss. However, any damage, theft, or loss to the key or lockset is not covered by default under this policy.
Therefore, you can opt for an add-on to the two-wheeler insurance policy that expands the scope of coverage. This add-on is typically known as the Key Protect add-on.
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What is a Key Protect Add-On in a Two-Wheeler Insurance Policy?
The key protect cover in bike insurance policy acts as an add-on that deals with the cost involved in the repair or replacement of keys. It is always wise to buy the key replacement cover fused in with a comprehensive bike insurance policy. With this cover, the insurer will be responsible for paying for the replacement of the key.
The key protection add-on in the two wheeler insurance policy is an important feature of the purchase since there is always a risk related to key loss. If the key is stolen or damaged, you should replace the locks on a proactive basis, as there is a risk of vehicle theft.
Benefits of Key Protect Add-On in Two-Wheeler Insurance Policy
Providing an add-on cover in two-wheeler insurance is important as it offers the below-mentioned benefits:
It covers the expense of replacing the key or lockset if it’s lost, stolen, or damaged.
Raising a certain claim for key replacement will not affect the accumulated NCB (no claim bonus) during the period.
Purchasing a key protection add-on for your bike will swoosh away all your worries about car theft due to the loss of keys.
How to Buy a Bike Insurance Key Protect Add-On Online
To get a two-wheeler insurance add-on cover, you need to follow the below steps:
- Go to the insurer’s website.
- Select two-wheeler insurance.
- Click on Purchase new policy.
- Put all the details like bike registration number and personal details.
- Select the Key Protect add-on coverage.
- Once you do that, an approximate premium will be displayed on the screen.
- If satisfied, make the online two-wheeler policy payment.
- Once done, the policy will be sent to your email with the key protect add-on.
How To Get a Two-Wheeler Insurance Claim for Key Replacement
The key replacement add-on cover claim is easy to understand and works similarly to any other two-wheeler insurance claim. However, there are a few steps mentioned below that would give you a brief idea about how to file a claim for a key replacement add-on cover:
Inform the bike insurance company regarding the damage that has been caused to the keys or lockset. It is advisable to inform the insurer within 30 days of the incident.
In case your keys are stolen, lodge a police FIR and preserve the FIR copy since it would act as a supporting document.
Immediately get hold of the claim form and submit it to the insurer.
The insurance provider will evaluate the loss that has taken place to further carry on with the settlement procedure.
After the insurance company completes the entire evaluation, the insurance provider shall reimburse for the incurred expenses.
Exclusions of the Key Protect Add-on Cover
- Loss or damage due to intentional or criminal activities.
- Loss or damage caused due to inefficient handling.
- Coverage is not required if the insured is unable to furnish the original invoice or receipts.
- Any damage to the lockset or key that is within the two-wheeler manufacturer’s warranty.
- Loss or damage caused to the key or lockset, such as in the ignition system of your two-wheeler, immobiliser, or warning alarm.
Conclusion
Thus, to sum up, the key protection add-on will give comprehensive coverage to the cost involved in repairing the keys. You always have the option to buy this with a comprehensive two-wheeler policy. But you need to remember that having this as an add-on purchase is vital, as the chances of the key getting stolen, damaged, or lost are very high. So hurry up and get your bike insurance online done hassle-free.
Frequently Asked Questions
Can I Use A Duplicate Key If I Lose The Original Key?
You can always get a duplicate key from a locksmith, but this is not considered to be a safe option, as there is no security code. In this case, the best option is to get the replacement key from the registered service centre.
Does Key Cover Affect The No-Claims Bonus?
No, the replacement of the car key does not at all impact the No Claim Bonus (NCB). However, in this case, you should inform the insurer on an immediate basis about the loss or theft of the keys within 30 days of the incident.
Which Bike Insurance Plan Gives The Key Protection Add-On Cover?
Typically, only a comprehensive bike insurance plan gives that assurance of opting for a key protection add-on coverage. Some insurers may also offer this add-on with a stand-alone own damage bike insurance policy. Hence, it is vital to check the add-on details with your preferred insurer.