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What Is KP In Car Insurance?

Published On Sep 26, 2022 10:00 AM By InsuranceDekho

What Is KP In Car Insurance?

When automobile keys are damaged or stolen due to an unforeseen occurrence, such as a fire or theft, the Key Protect add-on cover, often known as KP, provides protection. If your car keys are lost, stolen, or broken, the insurance provider will cover the cost of replacement or repair on your behalf. You can add this coverage to your comprehensive automobile insurance or freestanding damage auto policy by paying a little higher premium amount. 

What Is Protected By KP?

When you purchase insurance coverage online, you have the choice to upgrade your standard coverage to include key replacement coverage. An add-on cover for a key replacement provides protection from the following risks:

  • Loss of automobile keys as a result of an unforeseen situation on the road.
  • If your car keys were stolen.
  • If an unforeseen mishap resulted in damaged car keys.
  • If your car's lockset has been harmed. 

Claiming KP In Car Insurance

You must be familiar with the claims process under your 4 insurance policies if you have acquired the key protection add-on coverage. Here's what to do next: 

  • The loss or damage of your automobile keys must first be reported to your insurance. Be careful when describing how the object was lost.
  • If somehow the keys were stolen, report the theft at the neighbourhood police station by filing a police FIR.
  • Fix or restore your car's keys, then report the loss to your insurance company.
  • Send the claim form, the police report, and any other necessary paperwork.
  • Your claim will be paid by the insurance carrier once the verification procedure is finished.

Pricing Of KP In Car Insurance

For various businesses, a key replacement add-on cover has a varying price. However, the cost of replacing the broken keys is always less expensive than this premium. In addition, changing remote or smart car keys is more expensive than doing it with regular car keys.

Therefore, you can pay for the high purchase price of the lockset by contributing a certain amount to the price of the KP add-on. The IDV, or insured stated value, of your 4 insurance policies will, nevertheless, be a determining factor in the amount you would receive when making a claim under this add-on. 

Buying KP Online

It's not difficult to add a Key Protect add-on coverage to your auto insurance policy. Online shopping for it is simple. Simply go to the "Auto Insurance page" from the homepage, enter your vehicle's licence plate number, and then start requesting car insurance rates. Enter the necessary information from your prior auto insurance. Select the desired car plan, then from the dropdown menu under "Add-ons and Accessories," choose the "Key Protect" add-on cover.

The key protect add-on coverage will now be added to your vehicle insurance plan once the premium has been paid. You will get the policy copy immediately at your email address. Your insurance documents provide information on the key protection add-on cover.

Final Note

A critical addition to an automobile insurance policy is Key Protect coverage, which enables you to receive suitable compensation in the event that you misplace or harm your car keys. Additionally, if the original lockset is damaged, you won't be required to pay more for a replacement. It is always advisable to include KP coverage in your auto insurance policy.

Also Read: 

Why Is It Important To Get A Car Insurance Coverage?

Learn About IDV in Car Insurance Policy

Disclaimer

This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.
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