What Is KP In Car Insurance?

When it comes to understanding what KP is in car insurance, it stands for Key Protection or Key Replacement Cover. It is an add-on that reimburses the cost of replacing or repairing car keys if they’re lost, stolen, or damaged due to an insured event. This optional coverage in your car insurance ensures you don’t have to bear the entire expense of high-tech key fobs or remote locking systems, which can be quite costly.

Key Replacement Cover in car insurance typically includes:

• Loss of keys due to theft, misplacement, or burglary.

• Damage to keys or locks due to attempted theft or accidental damage.

• Replacement of key fobs and electronic remote systems.

• Locksmith services required for key retrieval or lock replacement.

• Labour charges for fixing locks or replacing keys at the location.

This coverage is designed to reduce the financial burden during emergencies involving car keys.

Let’s take a look at the benefits when you opt for this add-on in your insurance or go for a car insurance renewal.

Cost Savings: High-end car keys are expensive; KP reduces or eliminates the need for replacement costs.

Convenience: No need to hunt for locksmiths or dealers. TATA AIG General Insurance Company Limited manages the entire process.

Enhanced Coverage: Extends your motor insurance to include personal property elements.

While Key Protection is useful, there are a few circumstances under which this cover remains non-operational:

• Wear and tear or mechanical breakdown of keys.

• Negligence such as careless handling or deliberate loss.

• Pre-existing issues or prior damage before the purchase of KP.

• Spare key replacement if the primary key is not affected.

• Unauthorised repairs or replacements not arranged by the insurer.

• Always review the policy wordings for specific exclusions.

The Key Replacement cover is an optional add-on that strengthens your overall protection plan. It is ideal for vehicles with advanced locking systems or expensive smart keys. Here’s how and when it can be included:

• Available only with a comprehensive car insurance policy, not third-party plans.

• Can be added at the time of car insurance renewal or purchase.

• Coverage terms may vary based on the car’s make, model, and usage.

• Insurers may require an FIR or official proof in case of theft claims.

• The key replacement cover in car insurance must be opted for proactively; it cannot be added mid-policy term.

• Adding KP ensures financial support in key-related emergencies and adds convenience to your motor insurance plan.

Purchasing a Key Protect cover online is simple and takes only a few steps when renewing or purchasing your car insurance:

• Visit the TATA AIG website or mobile app.

• Select “Buy” or “Renew” your car insurance online.

• Fill in vehicle details and personal information.

• Choose Key Protect from the list of available add-ons.

• Review your premium amount, including the add-on.

• Make a secure online payment to complete the process.

This key replacement coverage ensures your keys are protected with your policy, effortlessly and digitally.

To initiate a claim under key replacement cover:

• Notify the insurance company as soon as you lose/damage your keys.

• Lodge an FIR (First Information Report), particularly when it is lost due to theft.

• Complete the claim form and provide any requested supporting documents.

• Include invoices or bills for the repair and/or replacement of the keys.

• TATA AIG General Insurance Company Limited will evaluate and settle the claim in accordance with the terms of your policy.

KP in car insurance goes beyond just getting a new key. It can save you money and provide added peace of mind. With many modern cars utilising smart keys and central locking systems, KP key replacement cover is a sensible way to ensure peace of mind. Adding KP in replacement cover when you buy or renew your car insurance online will make your policy stronger.

If you have just purchased a new car and don’t have comprehensive car insurance, TATA AIG offers an 85% savings on buying car insurance for a new vehicle online.

What does KP mean in car insurance?

KP, or Key Protection, is a helpful add-on in a comprehensive car insurance policy. It will cover the cost to replace or repair keys that are lost, stolen or damaged. Key Protection is valuable for cars with keyless entry and ignition systems, ensuring that you'd have financial support and matters made easy when you least expect a situation with your keys.

What is RTI and KP in car insurance?

Return to Invoice (RTI) and Key Protection (KP) are both helpful add-ons in car insurance. RTI will cover the difference in your car's invoice value and Insured Declared Value, in the event of total loss or theft. KP will reimburse you for the cost of replacing damaged, stolen, lost, or broken keys, providing you with a better value to your policy

What are ZD, PB, KP in car insurance?

ZD stands for Zero Depreciation, covering the full cost of replaced parts without considering depreciation. PB refers to Personal Belongings cover, offering protection for items lost or damaged in the car. KP stands for Key Protection, reimbursing key replacement costs. Together, these add-ons enhance your vehicle insurance policy for better all-around coverage.

Is key protection worth it?

The expenses of expensive smart keys and electronic locking systems justify the purchase of key protection. Vehicle owners face unwelcome expenses when they require new keys, since their replacement can turn out to be very costly. Your KP add-on provides financial compensation for missing or broken keys, allowing you to avoid unnecessary expenses associated with unexpected key issues.

What is KP add-on in car insurance?

The Key Protection feature of auto insurance, which is short for KP, serves as an optional rider to subsidise costs associated with lost, stolen, or damaged car keys. Standard auto policies get improved benefits through this add-on because it addresses the cost of replacing advanced keyless entry key systems that normally have expensive replacement fees.