Lost Your Car Keys? Here’s How a Lock & Key Replacement Add-On Can Help

Most buyers purchase car insurance in order to comply with the law. However, it can be used for much more than that. With two types of plans to choose from, a third-party or a comprehensive cover, the policy selection depends on your requirement and estimation of the risk.

A third-party cover is the bare minimum that you need to buy. It ensures protection from third-party legal liabilities. However, it falls short when it comes to insuring against car damages. With a comprehensive four-wheeler insurance cover, you can cover the damages to your vehicle and customize it with add-ons. One example of losing your key is when an add-on cover is handy. A comprehensive policy is preferred for such events.

What are lock and critical replacement add-ons?

Losing a key was once not so horrid, but with advanced technologies now integrated into the locks and keys of your car, it may burn a hole in your wallet. Once upon a time, keys were pieces of metal with ridges to match the mechanical combination of the locks, but not anymore. Modern-day cars have electronic keys. They have an electronic code embedded within them that fits the safety of your vehicle. While a remote-based key is common for modern cars, some high-end luxury and sports cars even have Keyless Frequency Operated Button (FOB) technology. Here, the sensors in the lock detect the key in its vicinity and unlock the vehicle. Ignition can also be controlled with these keys.

If you misplace the keys with technology integrated into a combination to function with the mechanical aspect, it will break your bank, just for a minor key. An essential replacement add-on in your four-wheeler insurance policy helps you cover such expenses if there is damage to the lock and you cannot access the car. In addition, risks of theft, damaging such locks, and rendering the critical useless are also covered under this add-on facility. Since the key replacement is an add-on facility, it is an additional factor that contributes to your car insurance prices.

However, it would help if you remembered there are a few exceptions when it comes to this add-on cover:

  • Any deliberate act of the insured is outside the purview of insurance coverage.
  • The insurance company excludes the manufacturer’s coverage for warranty.
  • In the absence of a valid document for the cost of repairs, you cannot receive a reimbursement.
  • Damages caused by radiation or hazardous elements are not covered.

With that explained about what is covered by the critical replacement add-on, here’s how you can raise a claim in three simple steps:

Step 1 – First, you must mend your lock or replace it with your existing key. The new lock and key must be of the same type.

Step 2 – A copy of the repair invoice is evidence of repairs or replacements that must be submitted to the insurer.

Step 3 – The insurance company will reimburse the cost subject to the terms of the add-on cover.

You can use a car insurance premium calculator to estimate its impact on the premium. To conclude, a lost or damaged modern car key can cost you no less than a couple of thousand, so having the protection helps you stay protected. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.


Alcohol scholar. Bacon fan. Internetaholic. Beer geek. Thinker. Coffee advocate. Reader. Have a strong interest in consulting about teddy bears in Nigeria. Spent 2001-2004 promoting glue in Pensacola, FL. My current pet project is testing the market for salsa in Las Vegas, NV. In 2008 I was getting to know birdhouses worldwide. Spent 2002-2008 buying and selling easy-bake-ovens in Bethesda, MD. Spent 2002-2009 marketing country music in the financial sector.