Mumbai, Maharashtra, India : Zurich
Kotak General Insurance, an insurer in India highlights the importance of Key
Replacement cover in car insurance. The role of car insurance is very important
in providing financial security. Among the various add-on covers available, one
often overlooked yet essential add-on cover is the Key Replacement cover. The
importance of protecting the keys has significantly increased in today’s
world.
What is the Key Replacement cover?
Key
Replacement cover is an optional add-on cover to your car
insurance that covers the cost of replacing lost,
stolen or damaged keys. With this add-on cover, policyholders can claim these
expenses ensuring that the loss or damage of your car keys does not turn into a
major financial burden.
Importance of Key Replacement cover
Car
keys have evolved from simple metal pieces to complex electronic devices.
Modern car keys are referred to as smart keys. These advancements provide
enhanced security and convenience but also come with higher replacement costs.
Let’s know the importance of Key Replacement cover in car insurance:
- Cost savings: Key Replacement cover helps to
avoid significant out-of-pocket expenses.
- Convenience: Losing a car key, especially away from home, can be highly
inconvenient. To compensate the insured, the cost of repair/replacement of
insured vehicle’s key(s), including labor cost, in case key(s) of Insured
Vehicle are lost/stolen or damaged.
- Enhanced security: In case of theft of insured
vehicle key(s) entire set of insured vehicle key, lock and lockset would
be replaced.
- Peace of mind: Knowing you are protected
against the unexpected loss or damage of your car keys provides peace of
mind.
The final note
The
importance of Key
Replacement cover in car insurance is crucial in an era
where car keys have become complex electronic devices. Policyholders can drive
with confidence and peace by purchasing this add-on cover with car insurance.
It ensures that a potentially stressful and costly situation is managed
efficiently and effectively so that policyholders can focus on the road ahead
without worry.
About Zurich Kotak General Insurance Company (India) Limited (Formerly
known as Kotak Mahindra General Insurance Company Limited)
Zurich
Kotak General Insurance Company (India)
Limited is a 70:30 joint venture between Zurich Insurance Group and Kotak
Mahindra Bank. The Company got its new name ‘’Zurich Kotak General Insurance
Company (India) Limited’’ in the month of August 2024, following Zurich
Insurance Group’s 70% acquisition in Kotak Mahindra General Insurance Company
Limited. It is the youngest and one of the fastest growing non-life insurance
franchises in India.
Kotak
General Insurance was established in 2015 to service the growing non-life
insurance segment in India. The company aims to cater to a wide range of
customer segments & geographies offering an array of non-life insurance
products like Motor, Health, Home etc. As a practice, the company seeks to
provide a differentiated value proposition through customized products and
services leveraging state of art technology and digital infrastructure.